For those buying Playa del Carmen Luxury Condos, one of the main considerations is the financing of the purchase. While it's really nice for those who can pay their Mexico Condo or villa on the beachfront up-front in cash, this option isn't feasible for everyone who has the income level to support the purchase; also having financing available means that the funds otherwise lumped into a direct purchase can available for other investment.
The good news is that one of Playa del Carmen's most attractive luxury villa, condominium concept development, Villas Tranquilidad, is available through direct financing from the developer. While financing through Mexican banking institutions is currently becoming an easier and more feasible option for American and Canadian buyers, we will see that the seller financing option is currently the most beneficial, adding further appeal to these luxury villas.
Villas Tranquilidad is a development of 6 contemporary design, luxury villas with personal yards, and a shared green space. With many advantages both in terms of style and design efficiency, these villas are a short walk away from Playa del Carmen's beachfront. They are located in the new "El Cielo" community, just at the north end of Playa del Carmen, which also has access to the future extension of Playa del Carmen's famous Fifth Avenue. Currently the neighborhood is very new, with a large amount of wildlife to be seen.
These are only the key attractions; in addition to the many other pluses, the very accessible price of $250,000 currently has a 25% pre-construction discount, for a price of $195,000. A 10% downpayment is needed to reserve the villa, and the developer is also offering direct short-term financing with a very competitive rate. For buyers considering the financing option, the developer's offer will be an excellent option.
Financing through Mexican bank institutions, such as Scotiabank's Mexican branches, also offer mortgage financing. The advantage of these is that they can be longer term, and they allow you to use the villa itself as collateral for the mortgage (allowing to avoid mortgaging a property back home). The process of offering mortgages is Mexico is still relatively new, and involves more steps and, sometimes, complications than mortgages in the U.S. and Canada; this kind of mortgage provides a feasible second choice, should a buyer not qualify for the developer's financing offer.
TOPMexicoRealEstate NETWORK; 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: Playa del Carmen 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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