You have finally made the decision to invest in a foreign property. You have also selected your ideal destination: Mexico’s Riviera Maya. Now, it’s time to figure out if you want a resale or a newly-built or a pre-construction home. You might find the decision process slightly stressful. After all, you are making a major investment and you want it to be perfect. Resales are great for those looking for turnkey properties. On the other hand, buying in pre-construction grants you more time to make the investment and allows you to make changes prior to the delivery of your home.
Be the first one in your home
There are quite a few advantages to purchasing pre-construction developments. In fact, sometimes they outweigh a previously-owned home or condo. Being the first person/family to live in a freshly-built home is indescribable. The home is yours and no one else’s, and it can be styled to your needs from the start. Some pre-construction developments offer different models, which allows you to adapt your home while still in the construction process. Moreover, some developers will allow you to modify certain parts of the home prior to delivery if you pay the difference of having workers rearrange your layout.
However, it is the financial advantages of purchasing pre-construction that make most people jump at the opportunity. In most cases, the developer will offer exceptional incentives such as pre-construction discounts, kitchen and furnishing packages or upgraded floor plans. After putting down the required deposit, some developers offer short-term financing or extended payout plans. If you feel comfortable enough with the builder, paying ahead of time can possible bring even larger discounts. Negotiations are always welcome. The best part is that by the time you get your home delivered, you can sell it and it’s already gone up in value (usually around 10% in one year for the Riviera Maya). So, you can get your investment back instantly.
A plan floor that works for you
One key factor when considering pre-construction is that you have a say in how your condo is designed, as mentioned previously. You can help create a floor plan that suits your specific living style. Put bedrooms, bathrooms, kitchen and living space wherever you see fit – within the possibilities of the developer, of course. Once you feel comfortable with your floor plan, you can begin to select tile, countertops and cabinets. Watching your new home develop from the ground up, one brick at a time, and checking in on it constantly is actually amazing.
While your home is being detailed, it’s time to start thinking about special features such as cut-outs, built-ins and lighting that add to your home’s uniqueness. Lastly, you need to think about your final finishes. You can choose personal touches such as paint colors, faucets, fixtures and ceiling fans during this stage. Your home starts out as a list of ideas. It then turns into a physical structure that you and your family will start enjoying very soon.
Purchasing pre-construction gives you control
The day your home is completely finished and you are ready to step through that door is sweet victory. There is no other feeling like it. Purchasing pre-construction gives you full control of your home and it gives you capital gain before you even fully own it. For investors, pre-construction is the best deal they can make if they want to flip the home as soon as they receive the keys. For those who want to live in their pre-construction unit, being able to enjoy everything you built up is amazing. At Top Mexico Real Estate, we have a wide array of pre-construction options for you to start dreaming up your perfect home.
And remember, at Top Mexico Real Estate…we make it happen!