The main option people think of in Playa del Carmen real estate is beachfront condos; yet even though there are very few individual Playa del Carmen homes for sale directly on the beachfront, this option presents some very interesting possibilities, and some exciting ways to save money. The following are a few examples of how to save on a Playa del Carmen home.
Build Your Own – Playa del Carmen land for sale can be found in excellent locations, such as golf course communities or a walk away from the beach just outside of downtown, and, outside of the downtown core, prices are very good. Since the downtown core tends to be expensive, this option is largely overlooked, but this only means that there are more options for those who are interested! In many areas around the city, well-priced land also offers high investment potential. Besides being a great investment, land also allows you as a buyer to have your home built exactly the way you want it.
Price Reductions – Playa del Carmen’s housing market tends to be very stable compared to many parts of the U.S. and even other areas that are heavily dependent on U.S. buyers. However, on a fairly regular basis, owners will have personal pressures to sell quickly (they already have a new home, personal financial shortages, etc.) and will reduce the price significantly below original asking price and the going price in the area to sell quickly. The disadvantage is that you as a buyer have to be a bit more flexible about what you’re looking for, but great homes in excellent locations can be found in this way.
Fixer-Uppers – Old homes are not very common in Playa del Carmen since the city is very new. Yet some of the original communities surrounding downtown have homes that have either been neglected for a while or which were never completely finished. Such homes can be found within walking distance to the beach and to many small shops and services, offering a relaxing, small-community lifestyle. With new, upscale hotels going in between the community and the beachfront, as well as nice new wide access roads, some areas also have very good potential for gentrification and positive appreciation. Most importantly, they offer Playa del Carmen’s relaxing lifestyle near the beach at a very low price.
Vacation Rentals – If you are buying a home in a location attractive to vacationers – i.e. close to the beach, in a gated community, next to a golf course, etc. – and you are using your home only occasionally, you might consider generating income by renting out the home to vacationers. While homes in such locations will most certainly cost somewhat more, they will also offer the benefit of being very close to some of Playa del Carmen’s most attractive features. Also, the rental will balance out the initial expense and provide an ongoing income.
Mortgages – This doesn’t “save” money in the strictest sense, but it does allow you to begin enjoying your home after paying out only a fraction of the final sale price. Payments can easily be integrated into a monthly budget. Also, mortgages are available directly from Mexican banks, so this means home equity on property you already own is not tied up.
One of the most important points to remember is that living comfortable in a home near the beach in Playa del Carmen is a possibility for just about any budget. Talk to an experienced agent and let them know what budget you’re working with and what lifestyle you’re looking for; they will be able to find the property most suitable for your needs.
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