In the last 5 to 10 years the Old Town neighborhoods and the downtown area of Puerto Vallarta have been going through big changes. If you are familiar with Puerto Vallarta or have been lucky enough to visit or call Puerto Vallarta home, then you have definitely noticed the transformation. Especially during the last two years, there have been many more condominiums being built as developers have noticed the demand increase as more and more people are making Puerto Vallarta their home. The quaint and charming feel of Old Town has been affected by the new buildings and construction that has been taking place, and many people have mixed feelings about the change. However, the shift in ambiance is not going anywhere as more and more units are being constructed. One of the most frequently asked questions is if buying pre-construction Mexican real estate is risky? If you are interested in knowing, then continue to read below to learn about pre-construction Mexican real estate advice.
New Construction in Puerto Vallarta
You can easily notice many new condo buildings being constructed when you take a stroll through Old Town Vallarta. Most of the new condos that are being built come with rooftop infinity pools, a gym, and modern amenities. Buyers that are wanting to live a Mexican lifestyle will enjoy these high-end touches that are added to the condos, and they won’t need to worry about making repairs and maintenance that typically comes with an out of date condo building. However, one significant and major problem that comes with purchasing a pre-construction Mexican real estate property is the property is still unfinished. There have been situations in the past with purchasing a pre-construction Mexican real estate property as the construction could be delayed or stopped halfway during development, which leaves investors angry and out a lot of money. Purchasing a pre-construction property is risky anywhere you buy one, but you can prevent yourself from becoming a victim from a scammer or an untrusting developer if you educate yourself on what to avoid.
Pre-construction Real Estate Delays
The most important tip that you should know when you are going to buy Mexican real estate, and that is to make sure the developer is reputable. You will want to pick a developer that can you show you that they have completed other Mexican real estate projects within a timely fashion. You should ask the developer for references, then you should check out the references for yourself and do your homework by researching the developer before you buy a pre-construction Mexican real estate property in Mexico. Don’t ever sign a contract or put a down payment on pre-construction Mexican real estate before you do this, and avoid being persuaded by any developer discounts or incentives. You can expect delays with any new construction, and Mexican real estate is no different. Many of the developers will include a 3-6 month contingency clause that will allow them to go past the due date. You need to be aware that your unit may not be completed by the due date that the developer gave you, and you should make plans in case it isn’t ready to avoid any extra stress. You should also try out a small down payment down when you are buying pre-construction Mexican real estate, and then when the property is finished you can pay the balance due then. You could also consider not buying the Mexican real estate property until the property is completely done. You may not get the discounts that are offered with a pre-construction Mexican real estate property, but it will give you peace of mind in the long run.
Avoid Risk: Only Buy Completed Real Estate in Mexico (Villa La Estancia)
The number one best way to avoid all risk that comes with a pre-construction real estate purchase is to simply buy a finished construction instead such as Villa La Estancia in Nuevo Vallarta, situated just north of Puerto Vallarta in a quiet and relaxing neighborhood. Granted you will not be able to take advantage of developer incentives, it is your number one best way to eliminate the risks and delays that could occur with a pre-construction real estate commitment. One of the most sought after real estate properties in Mexico is the award-winning Villa La Estancia in Nuevo Vallarta. Villa La Estancia in Nuevo Vallarta has private beachfront residences that are both spacious and luxurious, and only high-end finishes and elegant decor are included. A risk-free and reputable real estate investment of quality beachfront real estate in Mexico, Villa La Estancia’s beautiful and spacious private beachfront residences were created with a condo-hotel concept so you have the added benefit of services and amenities. In addition to beautiful pools, spa, gym, and restaurants, you also have access to friendly front desk staff twenty-four hours a day who are ready to help with reservations, tours or transportation arrangements. Don’t delay, visit Villa La Estancia’s website at https://rivieranayarit.villalaestancia.com/ now to learn more about what is in store for you.
The advice is provided for pre-construction Mexican real estate and we hope it will keep you from having issues with your purchase. Happy house hunting!