BiggerPockets

Thinking of buying a place now for a future Mexico retirement

Thursday, November 12

Not quite ready for that Mexico retirement But if you re planning your future in a sunny place, now is the time to get the ball rolling. Join the multitude of buyers doing just that.

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.

TOP Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

Region:  Playa del Carmen Real Estate  Thomas Lloyd Graduate from Purdue University Business School with a degree in Management/Financial Option Investment.  He has been living, investing, and working in Mexico for over 15 years.  A Mexican certified & licensed realtor, he is the current president of TOPMexicorealestate NETWORK     "Our experience at work protecting your interests"  (512) 879-6546.

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