People familiar with the country will know that there are great opportunities in Mexico land for sale. Yet, what about the case of Puerto Vallarta land for sale? In a market which has already boomed and has a large supply of newly built properties for sale, is land still a reasonable alternative to Puerto Vallarta homes for sale? The answer to this question will be distinct for each buyer’s needs; but let’s take a look at some of the factors to help give a clearer idea of who should consider land as a reasonable option.
Supply of Condos
It is true that in Puerto Vallarta, after the U.S. recession, there has been a fairly large supply of condos on the market and buyers interested have a real advantage in the market; they can select from a large variety of styles and locations, and they have higher negotiating power. Yet, this is the condo market. Those interested in a single-lot home will need to consider other factors.
Supply of Homes
The case of homes is slightly different. While there is a good supply of homes, it is not as disproportionate as that of condos. There are trendy neighborhoods in the hillside areas where homes have held there value and appreciated well even throughout the recession. There are good signs that they will continue to do so. This points to potential in homes, but it also points to good potential for savings and return on investment for buying a home and building.
One factor to be considered in favor of a home is that of fixer-uppers, which can sometimes be found for as little as 50% of the value of a similar home in complete condition, in the same hillside neighborhoods. For some buyers this may be a more attractive option.
Buyers thinking of personal use and prefer a custom design will find advantage in buying land.
The most developed areas (downtown, etc.) will have high land prices. Some less popular neighborhoods, that are nevertheless nice and within walking distance to good shopping (e.g. to the marina neighborhood) and even to the beachfront offer lots at prices that will amount to total savings when all is said and done.
Having considered these factors, a buyer can feel confident investing in land in Puerto Vallarta. Currently, it is often overlooked by the majority of buyers, and even agents, but this could actually be a benefit for those who choose to take this route …