If the idea of earning consistent return on investment from Playa del Carmen real estate that can also serve as a personal vacation home sounds appealing, this article is for you! Situated just 45 minutes south of the Cancun International Airport in the heart of the Riviera Maya, Playa is a lively, cosmopolitan beach town with a distinct Old-World feel, offering a number of real estate investing opportunities for savvy buyers.
Investing Money in Playa del Carmen Real Estate
First, it’s essential to find an experienced real estate investment advisor who is familiar with the Riviera Maya and specifically with the area around Playa. The old saying “there’s no substitute for experience” definitely applies here, where the best real estate investment companies can really make a difference in your overall satisfaction and return on investment. While investing in Mexico real estate is perfectly legal, there are nuances that make the process different from buying property in the United States or Canada.
What to Ask Before Buying Property in Mexico
Regardless of whether you are looking for a standalone vacation home or luxury condo, there are a number of basic questions to think about:
- How much is the maintenance fee? What does that include?
- How old is the property?
- How far is the beach?
- Are there any services and amenities included?
- Is there a property manager? If so, what are their fees and responsibilities?
- What is the annual return on investment?
Where to Buy Property in Playa
While accessibility to the beach is definitely important, keep in mind that most of Playa is situated just 10 minutes or less from the Mexican Caribbean Sea, so focus more on the services and amenities, as well as the annual return on investment, what else is within easy walking distance of the property and its overall condition instead. As a general rule, the most desirable Playa del Carmen real estate is situated between the Highway and the beach, so keep this in mind if you are looking at vacation home rentals.
Speaking of vacation home rentals in Playa, be sure to find a reputable property management company that has a proven track record of successfully managing investment properties in Mexico’s Riviera Maya. It’s important to have clear expectations about manager oversight, the cost of maintenance and how often the property will be rented out. Also, be sure to ask about insurance to cover the cost of damage to furniture, as well as how much the annual return on investment will be and how the money will be handled.
Regardless, investing in Playa del Carmen real estate is exciting and the process should be enjoyable. Getting proper insight from a respected local real estate investment advisor, taking the time to do some research and spending time in the area will help ensure the investment’s long-term success.
Have you ever been to Playa del Carmen? Let us know in the comments below!
Want to know more about real estate investing in the Mexican Caribbean? Click the following link to read Why Expats and Investors Love Playa del Carmen Real Estate!