Where and what can I buy in Mexico? Is Mexico’s real estate market a good way to invest your money?
Have you ever dreamed about having a vacation home close enough to visit at a moment’s notice? But then again far enough away where you can feel like you are away from it all? There is such a place and can easily be reached within hours by plane from almost anywhere in the lower forty-eight states. Pack light, take plenty of tanning lotion, and leave all your worries behind.
Imagine enjoying shimmering turquoise waters gently lapping against miles of beautiful white sand beaches. Let’s not forget the palm trees swaying back and forth in tune with the afternoon Caribbean breeze. Then add the near perfect year-round temperatures and you have all the makings for paradise. This unbelievable destination takes us south to Mexico’s Yucatan Peninsula and its Riviera Maya coastline.
What makes this destination even better is the low cost of living, an ever-improving infrastructure, and inexpensive real estate. Did I say, “inexpensive real estate”? Yes, I did! There are several reasons why Mexico’s real estate is booming and especially along the Riviera Maya. It has a lot to do with the strong exchange rate, plenty of inventory, and is a well-known vacation destination. We should also add its laidback atmosphere. All these contributing factors make purchasing property in Mexico an ideal investment.
This article will be part of an ongoing series labeled, ‘Mexico’s booming Real Estate’. Let’s begin with looking at how much your money can buy you in the Riviera Maya. Can you be right on or within blocks of the beach? Will you be able to step out your front door and walk to everything? Can you find a place that will satisfy all your wants and needs? The answer is yes, yes, and yes!
Playa del Carmen is one of the most desired areas and, depending what your budget is and exactly where you want to be – downtown or by the beach, a 1 bedroom / 1 bath, fully furnish and well equipped, contemporary styled condo with all the amenities can start as low as $129,000 USD. If a 2 bedroom / 2 bath is more your style, they start around $169,000 and go up from there. It is very achievable to be within blocks from the beach and/or steps away from the world-famous Quintana Avenida (5th Avenue) within these approximate price points.
Compare those prices with many of California’s, Florida’s or any other popular beach community up and down the United States coastline. Of course, the closer you get to the water, the prices start to rise a bit. But nothing like back in the states. If you look at new developments along the Riviera Maya’s beautiful shores, you can choose your colors and in some cases, appliances and furnishings.
If you don’t feel like being in and around a touristy environment, there are plenty of properties in places like Tulum, Akumal and Cancun to name a few. Each one of these communities has an ambience all their own. Another nice attribute about being in a smaller town is you can find larger stand-alone homes and condos for less money than their neighboring counterparts. Same clear turquoise waters, white sand beaches and gorgeous weather! Just a little less crowded.
There is one gated community that is located approximately ten miles south from Playa del Carmen: Puerto Aventuras. This is a community that offers a unique town center with several attractions, plenty of great restaurants, nice beaches and a harbor. It also has a golf course, several resorts, and intertwining waterways leading to the Caribbean Sea. The condos and homes are price very reasonable and offer all the luxuries. Communities like this one in far off exotic ports are 2 to 3 times more expensive.
Mexico is a perfect opportunity for a family, couple or individual to own an international get away. Mexico’s economy is flourishing with the flow of money coming from foreign investors, vacationers and retirees looking for a place to call home. Every month there are several new developments starting to break ground. As the area keeps growing, so will your investment.
In upcoming articles, we will focus on the lower cost of ownership in Mexico relating to taxes, insurance, and the cost of day-to-day living versus America. The series will continue by highlighting the benefits of owning Mexico real estate and how you can use it for multiple purposes. If you have any questions before, during or after these articles, don’t hesitate to contact us to get information and/or questions answered. You never know what your possibilities are until you ask!
We specialize in helping Americans and Canadians to purchase their dream home safely in Mexico. Contact us for more information and we’ll be happy to help you! Remember, at Top Mexico Real Estate… We make it happen!