It is risky to buy pre construction in Mexico. I personally bought a home in a pre construction development in Tulum. After a year of excuses from the developer with the lack of completion it is clear that he mismanaged the funds and the project is insolvent and we are out $300,000. We are coordinating with the other buyers to put together additional money to fund the rest of construction but it will be. a miracle if it happens. Please be careful when buying in Mexico and check how the project is being funded and they are not robbing Peter to pay Paul so to speak. Good luck
There is some risk. It's important to have the right realtors to vet the developers history, track record. Personally I bought 3 properties in Tulum and I never bought directly from the developer for that reason.
@@mikefanelli1 I am glad you had good outcomes. My husband did use a realtor but we found out later most so called realtors in the region are not certified although he is from a large successful brokerage. The developer had completed some homes in the development which my husband toured and thought were beautiful. One of the partners had experience and one was young and inexperienced.
Believe it or not a lot of the buyers in the development are pretty smart otherwise savvy people. Several lawyers and engineers. We were naive and it can happen to anyone
So sorry that was your experience. It's so important to vet the developers and have experienced realtors on your side who also have phenomenal lawyers they work with day in and day out to help vet projects and developers. There are over 300 projects in Tulum and Playa del Carmen. I would only work with a small handful of them. There are so many I would never let any clients buy from. Really hope you can make a miracle happen and get the project finished with everyone's collaboration.
I pass by here weekly. Never smells and they keep it really clean. This new project along side the help of surrounding projects are investing a lot of money into updating the park with new lights, expanding sidewalks and more plants.
Playa del Carmen needs a lot of work. The prices for condos do not match the area. The infrastructure is terrible and there is dog mess everywhere. They want top dollar for a small box and there are different electricity prices the closer you get to the beach. Once you cross the highway the prices change. Also, watch the switching prices at the restaurants. Make sure to keep the menu they give after ordering. Your bill won't match. Overall, it's very boring and needs a ton of work still. Vacation there but don't live.
