If you are searching for a Mexico condo for sale for the first time, all the different ownership options might be a little confusing. One option which often needs clarification is that of a condo hotel, and one of the points most important to understand is that they offer full, titled ownership of condominium units.
Mexico property ownership of condos is much like that in the U.S. or Canada; individual buyers own a given unit, and all the owners collectively own the common areas, infrastructure, etc., which could include a lobby, a pool, and a maintenance area, for example. Monthly fees (home owner association fees, or HOI) from owners cover maintenance of these areas.
Monthly fees can vary, as can the services included in these fees. Services can be simple maintenance of the building, or can gardening for the common area, pool cleaning, or any other service necessary to maintain the functionality, quality and image of the condominium as a whole. Other standard services include security personnel or a receptionist.
However, from there any number of services can be included. The concept of a condo hotel is basically a condominium which includes all features necessary to function as a hotel; this may be as simple as an a reception area and a pool with a lounge, or could include large green areas with tennis courts and golf-cart pathways – in short, a full resort setting.
Free Download Kit: Preconstruction Condos
The difference is that your condo complex will be geared towards offering hotel services to vacationers with the purpose of generating income for you. For this very reason, these condo hotels often offer a more accessible way to buy Mexico beachfront for sale balancing the expense of owning a vacation property with an income. The hotel services, including the rental pool, room cleaning and international promotion will be contracted out to service provider.
The point is that you are the full owner of your unit, and, along with the rest owners, the common areas. Your ownership, just like in any condominium, will be fully titled with a deed in the public registry. It will be yours to use, generate income with, or sell.
You are full, complete owner; it is not fractional, shared or time share.
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. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK
“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!â€