Playa del Carmen condos are very affordable, offering a comfortable, beachfront lifestyle for a price that the average working American can afford. Yet, for those on a tighter budget, it’s sometimes hard to make things come together. There are a few options available to help make already affordable prices even more accessible. Consider the following.
Pre-construction discounts – This is an important factor to consider. Almost all developers will offer discounts for the first properties they sell. This is to “get the ball rolling” so to speak; many buyers like to see that others have already bought in a complex before they commit. For this reason, the developers usually “reward” the more confident early buyers with discounts. This means a slightly longer waiting period to enjoy the new unit, but when a buyer plans for this, it’s usually worth the savings that are offered. What’s more, as the sales continue, and the construction is completed, these savings virtually translate into instant appreciation in value.
Newly developing areas – Likewise, new communities, and areas that are fairly undeveloped on the whole usually offer very nice properties for lower prices. This can likewise be true of a gentrifying community – one that has been neglected, and is now beginning to gain attention from redevelopers and renovators. What happens is that developers can buy their land for lower prices and these savings are passed on to the buyers of individual units. As communities fill up, stores appear, demand rises and prices go up on all sides. Buying in place like this means that there probably won’t be many services within walking distance to begin with, but nothing in Playa del Carmen is more than a 10 minute drive away. Besides, many owners kind of like the quietness and contact with nature that these early years in a developing community offer.
Mortgages – Several forms of financing can be considered, such as developer financing; yet, the most common and most accessible for most buyers is a mortgage. While getting a mortgage back home is an option, this ties up valuable home equity. Mortgages from Mexican banking institutions are now a viable and realistic option for American and Canadian buyers (not to mention European.) There are both advantages and disadvantages, but most buyers find the advantages to be more numerous and many have now bought a property in Mexico by means of this tool. A buyer planning to buy there Playa del Carmen condo through a mortgage should advise their agent so they can present them with properties that will qualify.
Using these strategies any buyer from the U.S. could afford to own a condo in Playa del Carmen and enjoy a beachfront lifestyle.
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