When planning your Playa del Carmen retirement
, at some point you will have to consider the question of which is more appropriate buying and owning Playa del Carmen real estate or using Playa del Carmen vacation rentals for your visits to Mexico. The following factors will help you decide between the two.
Lengths of Stay Frequently, the length of your stays as a retiree makes a difference in this decision; those who stay more permanently often lean towards ownership, those who stay for short term visits may lean towards rentals. There are, however, exceptions. A short term visitor, for example, who comes and goes often may choose to own so they don't have to repeat the rental search every time they head down to Playa del Carmen. Although this is a very obvious factor, buyers should not assume that it is the only one, or even the most important. Other major exceptions are mentioned below.
ï¿½ Personal Income Potential ï¿½ Another possible reason a short-term style retirement may be conducive to full ownership is if there is potential to rent out the property when you are not using it. If it is in a location where this is a viable undertaking (usually very near the beach and a larger unit) than this is a worthwhile consideration to make. This kind of arrangement can offer a considerable income to retirees and help balance the costs of ownership and even supplement income for little expenses and luxuries to be enjoyed in Mexico.
ï¿½ Rental Market Values ï¿½ This factor works both ways. If rental prices tend to be high at the moment, retirees may find more value in owning. If rental prices are low, retirees may find value in renting; even those who are more inclined to won may take advantage of low prices and take a little more time for their property search.
ï¿½ Property Availability ï¿½ Connected to this last point is that if a retiree is waiting for a specific type of property to show up on the market, itï¿½s ideal to rent a property in Playa del Carmen while waiting for that property to show up; this could also be true of the right price. Another advantage of this is that you as a buyer are directly in town to look around and view properties as they become available. The other option tied into this is that you as a buyer can ï¿½try before they buy.ï¿½ For example, you are interested in a downtown condo lifestyle. You can first rent a condo downtown of the style you are considering and live there for a while and carry out your property search in the meantime. If you find that it isnï¿½t right for you, you can change your rental and re-direct your property search before itï¿½s too far along.
ï¿½ Personal Taste ï¿½ Some retirees feel more comfortable in a place they own, others feel that its more convenient to rent and not have to deal with the responsibilities of ownership. This factor can be very important and you as a buyer should not dismiss it or set it aside.
If you are trying to decide between the two, talk to your agent and view a few possibilities to help in this process. Both are valid choices, and both have good market availability in Playa del Carmen.
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"
Region: Mazatlan 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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