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Writer's picturePlayaLife Real Estate

Figuring out the Why, Where and How of Purchasing a Property in Mexico


Key in Door

When you are beginning your search for Real Estate in Mexico it can definitely get overwhelming, especially when you aren’t familiar with how the buying process works here. The first thing you should do is get organized and educated about the purchasing process Mexico.  Here are the first things you should consider to get started on your home search in the Riviera Maya!


Why?

Searching for your ideal property may not seem difficult but it can be overwhelming when you don’t have the purpose of the property defined.  There are a seemingly endless number of properties, but they won’t all be ideal for your purpose.

Are you looking for an investment with purpose of making money? Maybe you are looking for a vacation home or for full-time retirement home?  Whichever it is for you, it's important to define the reason why you want to buy in the first place.  This will help make things easier and help your agent narrow down the search.


Where?

Location Location Location! This is probably the most important thing to determine when purchasing a home.  There are so many beautiful neighborhoods to choose from here in the Riviera Maya, each with their own benefits. Talk to your agent about what you are looking for in a neighborhood, whether its peace and quiet, close to shops and restaurants, maybe you want to be close to schools. You need to ensure that the location also correlates with the purpose of your home. For example a quiet peaceful neighborhood may not be the best choice for a vacation rental.


How?

This may actually be the most important part of buying your home in Mexico.  How will you be paying for your property?  In other countries there is the option for a mortgage, however at this point there are not many options for banks in Mexico that offer financing to foreigners. You will need to determine how much you can make as a down payment and how much needs to be financed,  maybe you are able to take out a loan or a line of credit on your current home, and there are some developers that offer financing. You can go over these options with your agent!

Contact us today to get started on your search for a home here in the Riviera Maya!


Contact us at info@playaliferealestate.com to get started today!

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