When you make that decision to purchase real estate in Mexico, you may choose from a few options. Two of those options are a readymade home/condo or one that is or will be under construction soon. There are advantages and disadvantages to purchasing a Resale or Presale. The following will give some fundamental differences to each. A lot of It depends on what you are looking for, the purpose of the property, and time frames on how soon you want to take possession.
Resale or Presale advantages and disadvantages
- Resale properties, in most cases, have a lower price than new or Presale homes. To enjoy brand new will usually come with a higher premium – increasing material & labor cost.
- Presale properties can tend to cost a little more. If you want a home where no one has ever lived in, then expect to pay a bit more. Building cost is on the rise.
- Resale negotiations can bring more ‘freebies’ than a Presale. The seller is usually a private party. They will be more likely to include item(s) in or outside of the home as an incentive to buy.
- Presale homes include predetermined or standard items. If you want additional items, they could carry an added charge for up-cost, delivery, an installation fee, or both.
- Resale properties’ closing cost can be lower. There are no additional building fees or permits needed.
- Presale construction can have additional or unforeseen cost that includes special permits (eco-related) or assessed fees. These costs don’t always occur but don’t be surprised if they come up.
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- Resale homes can close within 1 to 3 months. When you decide on a home, you put your earnest money down, schedule a closing, and finish the transaction. You are now ready to begin visiting – living – renting your new home/condo within a short period. Your ROI starts immediately.
- Presale closing can be delayed for an undetermined amount of time depending on the issue. But you will still have to put down earnest money, make payments on the balance per your contract, and wait for the Certificate of Occupancy to be able to close.
- Resale homes allow the buyer to see exactly what they are paying for. What you see is what you get. With time and money, changes can be made.
- Presale homes are built to specs and can be viewed by either photo and a show home/condo – usually with all the available upgrades. It will allow the purchaser to add or delete options offered by the builder.
The aforementioned provides the basic scenarios when comparing them and then you can decide whether to buy Resale or Presale. Presale or under construction has many advantages. If you want to work with the developer, you can pick out tile, select your own fixtures, and choose from several floor plans just to mention a few more advantages one great example is Sofia Boutique Condos.
Sofia Boutique Condos
Sofia Boutique Condos is a new development that offers turnkey studios in Playa del Carmen. Its remarkable location, in the heart of the town, allows the owners to enjoy a short walk to the most popular areas of Playa. Sofia Boutique Condos is close to supermarkets, restaurants, shopping malls, Fifth Avenue, and the beach. Additionally, the developer offers fully-furnished and equipped studios with a distinctive design. As a result, Sofia Boutique Condos is a top-notch investment opportunity in Playa del Carmen. Your new home will have a personal touch to it. Take time to contact Top Mexico Real Estate and let one of our professional agents help you decide which option works best for you.
Remember, at Top Mexico Real Estate … we make it happen!
