Do you like the idea of buying during the preconstruction phase? The fact that you could be saving money, and investing in a great property all at once. Preconstruction has many benefits, especially in the Riviera Maya. I guess it depends on whether you can wait for your property or you want access right away. If you are the type of investor who wants to start making money today, we have many properties to choose from here.
Furthermore, for the preconstruction lovers, let’s take a look at the advantages of purchasing property during the preconstruction phase in the Riviera Maya:
- Technically it works as a protracted deposit assembly. You are not required to pay for the whole purchase up front, therefore you are able to save up and invest the remaining money elsewhere.
- There is usually more protection and warranty with the building within the first couple of years when you buy preconstruction.
- New can be better. You are moving into a brand new home with new appliances and new advantages. However, you might start off with low maintenance and condo fees but they can surely rise at any time depending on what’s arranged in the papers.
A Few Important Tips:
Buying preconstruction in the Riviera Maya is great, but there are a few things to remember before making this decision. Always check the developer’s history and background. Do your due diligence before you invest. Some developers have a bad reputation with not finishing their projects. Therefore you will pay the down payment and be without a property. You can always ask for your real estate agents opinions on the developer, as they might be more familiar.
Try to come up with a payment plan that is suitable for the timeframe you were given. You will need to negotiate this and make sure you are updated accordingly. You will want to see progress updates along the way, instead of being told a date. If you notice there is no progress happening, one should be a little apprehensive.
Always make sure you understand what is included in your property. The finishing standards are different in the Riviera Maya or in Mexico in general, so it’s important to have everything in writing that is included in your property. You don’t want any bad surprises once your property is finished. For example, different kitchen appliances or no air-conditioning unit. Always do your best to read into everything and do not sign any agreements until you are ready. Do your part to keep yourself updated with the process of your property. Keep in contact on a regular basis with your developer. With good communication, you should have no problem.
Last but not least, there are many pre-construction developments in the Riviera Maya. Depending on what you are looking for, make sure to do your research and find a quality developer. This will ensure your buying process goes as smoothly as possible. If you have any other questions or you want to see more properties that are currently for sale in the Riviera Maya, don’t hesitate to contact me at any time!