So, you’ve decided to live in Mexico. The biggest decision is done, and now for the next important choice; do you want to buy a Mexico condo for sale or find an ideal Mexico rental? While an experienced Mexico real estate agent can help you make this choice, the following are a few pointers to help you choose.
Consider Buying If:
- You’re sure about what you want – You’ve been to Mexico and you’ve seen the condo style and location that’s perfect for you. Maybe it’s not 100% exact, or perhaps you’ve got a good amount of flexibility, but you’re sure you’ll find the ideal property for your needs and tastes.
- You prefer to personalize your property – Generally, if you own a condo, you have more flexibility to personalize and make it want you want it/need it to be. If you’ve got a fairly exact idea of layout, colours, decoration, furnishings and other items, if you’re the owner, you’re good to go.
- You want to enjoy rental income – If you prefer to be the one collecting rent instead of paying it, then ownership of a condo in Mexico can be an excellent investment. In this case it’s important to consider if/when you will be using the condo, and ensure that you choose a property in a location where rental potential is high.
Consider Renting If:
- You need more time to work out the finances – Mexico has excellent prices, in addition to financing options which include bank mortgages and developer financing. Yet, if you still need some time to make one of these options fit comfortably into your budget, then consider renting for the meantime.
- You prefer flexibility – Some people simply prefer the flexibility of being able to change residences and locations. If this is you, then rentals may be the way to go for you. On the other hand, some buyers have bought as a rental investment, then save money by renting condos for their own stays in Mexico for a lower price.
- You want to take more time to search – If you’re the kind of person who prefers to take time and be right in the market for a while, you might also want to rent in/near your preferred location simply for the sake of your search.
- You just want to save on the hotels!
Both markets have great options, and prices are excellent! Contact an agency that deals in both to help you make an informed decision for your area of interest.
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