Mexico real estate, despite its rapid development as a market of international appeal during the last 2 decades, still holds many pleasant surprises; one of these “hidden gems” is Mexico land for sale in the Morelia real estate area.
Two points must be made about this unique and little-known real estate option. One is that few international buyers have yet noticed Morelia as an option; the other is that if they have, colonial homes and lakefront cottages will probably be the real estate types they think of rather than land.
Land in this area, however, presents some very clear advantages for buyers. Some of these advantages are shared with other real estate types; it’s worth naming these briefly before looking specifically at land. These advantages include an international airport, existing base of tourism infrastructure (from middle-class national tourism,) modern stores and services (stores like Walmart and Home Depot, state-of-the-art hospitals, etc.,) a charming colonial city and nearby lakefront villages dating to pre-European times - both rich with history and culture.
Land in the area specifically offers the following advantages:
Variety – Land in the Morelia area can include options similar to those mentioned above; urban lots near the downtown area walking distance to everything, lots in new subdivisions, lakefront lots to have a custom designed cottage built, village lots and, perhaps the favorite of all, large plots in the countryside ideal for a small hobby farm, or simply a quiet escape the beautiful hilly countryside.
Prices – Like other real estate in Morelia, prices are very low since the market has mostly caught on with the Mexican middle class, rather than international buyers. Land prices are, therefore, very accessible. Even the larger countryside lots mentioned above have prices that will surprise buyers. The advantage of buying land is that buyers can first invest a smaller amount in the lot, then later invest in construction after saving up for a while again.
Cost of construction – The cost of construction is also very low in the area. While very good constructors can be found that are accustomed to building high-quality, comfortable custom homes for Mexico’s middle class, their prices are still geared toward that market, and hence lower than might be expect.
Creativity – While there is a real lure to a colonial home or a charming old cottage, there is also something to designing and building your own home the way you want it, combining features of local tradition and culture with modern convenience and personal taste.
High potential for investment – Since Morelia has many features that could bring it into the international scene for tourism and real estate rather quickly, the low price of land is currently a good way to invest. Even for resale in the Mexican market, real estate for Mexican buyers has actually been more resilient to international downturns holding the value of well-planned improvements.
It is highly recommendable for buyers interested to make a trip to Morelia and the surrounding countryside to see the potential (for lifestyle and investment) the area holds for themselves. Chances are, they will be so excited by what they see that they may not have the patience to buy land and wait for their home to be built!
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely