When choosing your Playa del Carmen condo, at some point you will have to choose whether you want to buy a new, pre-construction unit, or a resale. While both have clear advantages, here we will explore some of the main advantages and disadvantages of the pre-construction option.
The Advantages of Pre-construction Condos in Playa del Carmen
- New Communities – Playa del Carmen has a nice variety of new gated communities; golf course communities, beachfront and marina communities, and just plain, nice communities with bike trails and plenty of green areas, only a walk away from the beach. Many of Playa del Carmen’s pre-construction condos are in this kind of area.
- Pricing – Playa del Carmen’s market is very competitive, and the newest communities are offering very accessible prices to give themselves a competitive edge over established communities. Since prices in Playa del Carmen are already very low for what you’re getting, this kind of purchase can surprise you as a buyer in the pricing.
- Discounts – On top of already competitive pricing, pre-construction developments usually offer a series of discounts on various condo units within the complex for early buyers. Asking your real estate agent about pre-construction discounts can offer you excellent savings and good investment opportunities.
- Financing – Contrary to what most people think, financing is usually available at some point during preconstruction sales. While bank financing is not available until the condominium regimen is granted, some developers offer their own financing options, and once the condo regimen is granted (usually fairly early in the construction process), mortgages can be obtained.
- Negotiation – Again, this is the opposite of what most buyers assume; even though a property is new straight from the developer, you can still negotiate. Price may be negotiable in some cases, but in all cases extra features are most certainly a point of bargaining.
The Disadvantages of Pre-construction
- Wait time for delivery – Pre-construction units are just that; they are being sold before the complex has been completed 100%. This means that even if the unit itself is complete it may not be delivered until a fairly advanced point of completion is reached for the complex. This means a wait time, but for buyers who plan for this, it seldom presents any complication.
- Services nearby – If buyers choose a complex in the newest community, there may not be many services yet. These will appear with time, but in the meantime, owners will have to be content driving downtown or to the shopping areas. Since Playa del Carmen is still small, this is rarely more than a 10 minute drive.
For most buyers, the advantages of pre-construction Playa del Carmen condos outweigh the disadvantages; talk with your agent to help you decide.
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Region: Playa del Carmen real estate.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.
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