Thinking of buying a place now for a future Mexico retirement

Mexico Condo & Pre-construction Opportunities

In the last few years the variety of options for second homes and retirement homes in the Cancun real estate region and the Riviera Maya area has increased to enormous proportions. This boom in the Cancun condo market and the pre-construction opportunities provides options for different lifestyles and tastes. And with more options available, developers are becoming more competitive, offering more amenities and better finishings.

This competitive market has also opened the door for more flexible payment plans. Over the past few years, most developers throughtout the Mexico real estate industry required an initial down payment, maybe 25-30% and then the balance paid in equal installments over the construction period. This scenario made it difficult (and undesirable) for most buyers.

Finally some savvy developers are offering more accessible plans, with an initial down payment and the balance upon delivery and title. With this type of payment plan, buyers can apply for long term financing. There are now many banks and Mexico mortgage companies offering financing for US and Canadian citizens.

And now with the credit problems in the US, many developers are rolling back prices to spur sales. Since there are lots of options available for buyers, they are starting to realize they need to be competitive with pricing. Because of the devaluation of the peso, many are switching their pricing schedules to pesos, making it even more attractive for US buyers. With the currently high Mexico exchange rates, buyers can get more for their dollars in this market.

These advantages make it the perfect time to purchase your Cancun retirement residence or your Mexico home at today s prices. Those waiting for the market to turn around will miss the boat. If the economic situation improves in the US, then business will be back to normal here and it will be hard to find the good deals being offered in thisbuyer s market .