Real estate that is offered for purchase "pre-sale" simply refers to property that can be bought before construction is complete; either while it is still in the planning stage or during the building phase. One of the things that makes Playa del Carmen real estate so appealing is that most of the city is 15 years old or younger, which means there are more clear titles and much less paperwork and history to contend with when buying and selling property in this part of Mexico’s Riviera Maya. There are also a variety of turnkey vacation rentals and luxury condos on the market in Playa del Carmen, some offered for purchase “pre-sale” by the developer, which can give buyers a chance to realize significant savings and greater return on investment.
“Pre-construction condominiums are some of the hottest pieces of pre-construction real estate on the market today”, wrote Street Directory.
The term pre-sale – or pre-construction, depending on the stage of development the project is in, often includes steep discounts compared to what the property will sell for once construction is complete. Buying investment properties pre-sale also might allow for more flexibility when it comes to selecting finishes and other design considerations, which can make the property more customized to your particular needs and tastes.
“With condo sales going strong, more and more buyers are trying to secure units with the right floor plans, the right amenities and above all, the right views by securing a condo before a building is finished”, wrote the Seattle Times. “Buyers can protect themselves by getting promises in writing”.
Tips for Buying Real Estate in the Pre-Construction Phase
- Research the Developer
- Partner with an Experienced Real Estate Agent
- Know the Neighborhood
- Have Everything Put in Writing
- Be Realistic About the Time Frame
- Study the Floor Plan & Finishes
- Determine What Services/Amenities Are Offered
When buying real estate in Playa on a pre-sale basis, it’s also important to think about how you will use the property. For example, will it be your full or part-time residence, or just a vacation home? If you won’t be living in Playa del Carmen full time, do you want to turn it into an income producing property like a vacation home rental? If so, it’s essential to look for investment properties that offer a comprehensive maintenance, booking and guest management program in order to ensure that you will receive the best ROI and won’t be bothered with these details while living and working back home at your main residence.
Finally, keep in mind that it can take a while to close on pre-sale real estate and for the property to be delivered after you decide to invest and make a down payment. As a result, buying real estate pre-construction in a booming market like Playa offers added protection from market fluctuation, since real estate in the entire Riviera Maya region is experiencing strong appreciation.
Do you have any other questions about buying real estate pre-sale? Share them in the comments!