Buying Presale Real Estate in Playa Del Carmen
Real estate in Playa Del Carmen can be a new experience for many people. Most property on the market is a condo and things can be sold presale. What is presale and should you buy it?
Presale– the practice of arranging a sale of property before it is finished or available.
Buying real estate in another country can be daunting at first to many people. Even though it is hard, the lure of living near the ocean and in a Caribbean climate often keeps pulling people in the direction of coming to Playa Del Carmen. It may be for a retirement investment or full-time living arrangement. In any case you want to make sure that such a large investment is a solid decision with no regrets.
The good news is that Mexico has been on a path to modernizing legal procedures for real estate. Procedures are more uniform than they have ever been, especially in Playa Del Carmen where property changes hands often and most buildings are new, transactions are pretty straight forward.
We wanted to write this article to examine if buying presale was a good idea and if there are things that you should examine first before making the investment.
Note: As with all of our real estate articles, we put a disclaimer that we are not a real estate company and only provide this independent information to our valuable readers. We do however refer people to recommended realtors, ones we know will give good services to our readers.
Why do developers offer presale?
There are basically two reasons why developers offer presale.
- The first being that the developer needs the money to finish the project. This may seem illogical to most people’s normal ideas of how to budget for things. Who would start a building and know they do not have the money to finish it? Actually, a lot of developers. From one standpoint, this is smart because when you have a good plan and building project you are betting on it to sell. Let’s say you have a plan to build a 20 unit building and it cost 20 million dollars to build. You have 10 million dollars to start the project. You are going to sell the condos for 2 million dollars each. If you presell 5 condos you will make 10 million dollars and now have 20 million in total to finish the building. When you sell the other 15 units and take out the 10 million you invested, you will have a profit of 20 million dollars. The math is a little oversimplified, but it shows you why some developers need presales. The problem is when they have bet too much on the building and it starts to run over budget and units do not sell. It is possible to get to the point where they have no cash to continue but they also know they cannot make money if they do not finish the building. Then it becomes a rather problematic issue.
- The second reason developers offer presale (and most common) is to offer people a change to select options on finishes and purchase the best units first. It can work in everyone’s favor if people buy and are able to be involved in the decision-making process of finishing touches. The owners are even more happy with a slightly customized unit and the developer does not have to wait as long after completion to sell the units and then be able to move on to the next project.
Who to trust when buying real estate?
It is common to have more trust with people with commonalities like from the same area, country, age, or same first language. We mention this because people will often gravitate toward dealing with a developer or real estate professional from the same country. There have been development companies in Playa Del Carmen from Canada, United States and Mexico all doing business here. There are bad experiences with all backgrounds as well as good ones. The fact is, it should not matter where they are from, but rather their understanding of local laws, climate, construction and their reputation. Developers from all three of the aforementioned countries should be treat equally in your decision-making process.
Where to take caution buying presale
Here is a list of circumstances where you should take into consideration when looking at presale real estate. (Just looking at the photo on the right reminds us that not everything gets built as advertised.)
- If it is a new developer to the area or they do not have a long-standing reputation. It is important to know if they have a good reputation for good quality construction, on time delivery, proper accounts for purchaser’s deposits, and proper legal paperwork.
- It is the first big building in an area or is built in an area with mangrove, it is important to make sure it has been properly built. In the near future or future there can be serious structural problems. This however might be hard to independently check.
- If you are on a tight time frame for when you need to move it should be noted that even good developers can run behind in the delivery date because of circumstances out of their control. If you need to move by July because you sold your home and the new condo is supposed to be ready in July, buying presale can present problems in this area.
Benefits of buying presale real estate in Playa Del Carmen
Here is a list of things where you can benefit from buying presale in Playa Del Carmen.
- You get first choice of condos when the presale starts. There is only going to be one location of the building and that condo you like because of the morning light just might not be for sale by the time the building it done and ready for regular sale.
- You possibly can get incentives for buying upfront and may just save some money off the sales price.
- You can work with the developer to see if you can change some of the small details. There may be a kitchen island that you want wider or moved a little. This can all be possibly done before it is built. Even small changes after it is finished can mean double the price and no one wants remodeling noise in a new building they just moved into.
- You can choose finishing touches and colors all without additional charges. If you want granite countertops instead of what is offered a developer can change it. If it is less expensive cost, you may be able to choose a more expensive faucet or something else.
- Sometimes there is limited storage or other special features of the building that first come first serve basis. You might even get to choose which parking spot you want.
- If you can visualize what the finished product is going to be like, then you are going to be able to make a decision faster than those who need to see it finished to make their minds up. Of course, a good developer will have photos, videos and models for you to look at.
Special circumstances of buying presale
Most real estate transactions in Playa Del Carmen are straightforward. Unlike some areas of Mexico, there are more clear titles and much less paper and history to deal with in transferring a property to a new owner. Most of Playa Del Carmen is 15 years old or younger so it is easy to get a clear look at who owns what and have the taxes been paid.
In general, we do not recommend the need for a lawyer in transactions of real estate. Why? In Mexico there is the government approved position of “notarios”. This is not a “notary” like the name might suggest. They oversee all real estate transactions and are held accountable for their actions. There are only so many notaries and each one have much experience in researching the property and legal procedures.
Usually, a lawyer does the exact same thing as the notario and your real estate agent. It just makes people feel better about the purchase normally and adds to the cost of purchasing a property. Your real estate agent will also be there to help you with the process. Having an experienced professional is very helpful in this aspect. However, with presale we DO recommend a lawyer for these scenarios if you are not comfortable with the answers you get from the developer or real estate person.
- Let’s say you are supposed to take possession in July, but it is not ready, do you have an agreement with the developer for housing until you are able to move in? or if you were going to be renting it, do you have an agreement to compensate you for not being able to rent your unit yet?
- You were going to rent your building but after paying your last payment the buildings public areas are not finished and it is not rentable. What type of agreement can you have in your legal paperwork?
- How do you guarantee that follow up work will be done on the building and what is the responsibility of the developer after the property is officially done?
- What if there are significant changes to the building during construction? What are the conditions for a return of deposit?
As you can see there are many issues that arise when a building is not completed. Many of these will be addressed by a quality developer. Having a lawyer in some circumstances that will legally document everything for you can come in handy.
In conclusion
Buying presale can reward you a discount off the price and gives you options that you cannot get after the building is done. There are considerations however for each situation and transaction. We hope this article highlights that for you if you have been looking into the possibility of a presale property.
Do you have questions about real estate in Playa Del Carmen?
As always, if you have a question about real estate or related question, feel free to contact us via the contact tab. We love helping people get to know Playa Del Carmen more and become neighbors. We also take the time to investigate new areas projects and report back to you on them.
For further reading about Playa Del Carmen real estate see our complete guide here! We also have a comprehensive guide and video to the Tulum real estate market. If you are new to the real estate market in Mexico, we have a good article with videos that explain the buying process in Mexico.
Our video about real estate in Playa Del Carmen
For a good overview of the real estate market, we put together this video. It contains a lot of information and covers topics like what areas are like, what investors look for, and what future projects will impact the real estate market here. We hope you find it helpful.
About The Author
We are looking for a beachfront condo where we can kiteboard from. Our research has shown Playacar and Cocoa beach are the only beaches in Playa del Carmen that we can launch from. Playacar seems to be mainly beachfront houses that are out of our price range. Cocoa beach seems to have good options such as the fives but seems to be new construction and in a less established and more up and coming area. It’s also hard to find the HOA fees for these units. We would like somewhere walkable to restaurants (15 minutes is fine). We would also want to rent the property when not using it. Any recommended reading for us or other insights?
Hello Andy
Thanks for your question. Playacar is the most used beach for kiteboarding in Playa Del Carmen. There are two parts to Playacar. Phase 1 and 2. Phase 2 is lined with hotels on the beach so you only have the back side for houses and condos. It does not afford very easy access to the beach for launching. Phase 1 has some nice houses beachfront but this do go for about between 1 and 2 million. You might have seen our article about living in Playacar Phase 1. https://everythingplayadelcarmen.com/living-or-renting-playacar-phase-1-neighborhood/
This might be a good option for you if you want a condo, there are not a lot but it might be able to stay in your budget and then be able to walk to the beach.
Coco Beach is usually defined as 38th-48th Street area. We do not see any kite boarders using that beach. We do see people kiteboarding much farther up past there in front of Gran Corral development.
If you are talking about Azul 5’s,that is out of town. There are some developers in that area that we DO NOT recommend. If you want so more options or details, please feel free to send us an email and we can point you in some directions and give more personal advice.
There are other places in the Peninsula where you can kiteboard and prices are cheaper, but it is not near to many city facilities. If you email us we can talk about a couple options or if you tell us what more you are looking for we can point you in a direction.
We hope this helps at least confirm some of the things you have already found out. We know it is hard to get property beachfront here.
Hello, I am interested in presale units close to 5th avenue. I have heard good things about MOMA 42, The Gallery, and iplaya. Can you point me in the direction of a trustworthy realtor for pre construction properties?
Hello Kelly
We will send you a private email for some information about presale in Playa Del Carmen and some information on the properties you are looking at. We are looking forward to chatting soon.
I have to say Great site with very informative content!! I have been very interested in property in the Playa area myself. Your articles have been very helpful and shed some light on questions I hadn’t even thought of. I am interested in a new construction with pre-sale now being offered in what I think is a good area due to the location witch is good for the “younger Crowd”. They have advised that they would help with the whole process but I am just worried about the reputation of the developer since I cannot find enough information on them to be able to trust as a quality developer. I do not want to mention the area or any names now do you have but any suggestions on how to find out more on a developer in that area.
There are a lot of new developers in the area. This is where good real estate agents come in handy. Some have been in Playa Del Carmen for More then a decade and know what is the reputation of developers. Sometimes you can ask the developer for information on past projects. Sometimes they have built in other areas before coming to Playa and you can find information and also comments online from people that bought there. You can always email of and we can give you more information or things to consider with some of the buildings going up. Some look good on paper but there are often things going on in the neighborhood that you might not notice or they tell you.
Can you send me an email for some information about presale in Playa Del Carmen and some information on the properties next to fifth av. I am interested in a condominium, can be presale that is going to be finished in the next 6month to a year tops. Last i visited playa about 1 month ago i saw many builings being built !
Hello Sam
We are not a real estate company so we don’t have all the details on all the buildings but we can send you an email with some good realtors that have a good reputation and good working knowledge of what is available and what might fit what you are looking for.
We will add that it might be a little less supply then you might be hoping for. Many buildings are 80% sold before they break ground. So this means that when it is 6 months from being done, it is mostly sold already and often only the penthouse or odd units are left.
Hi! I am interested in presale in playa. I’m looking forward to chatting. Thank you so much for all of the information you have provided the public!
Hello Whitney
We will send you an email to your email here with some more information.
I am in the midst of making a pre sale purchase and would be very interested if you have any knowledge of the developer – one of their recent projects was the Palmares. Can you private msg me if you have any info or insights? The company is called Grupo Desur.
Hello Doug
This must be a collaboration with another developer because Palmares is from another developer. Perhaps Grupo Desur has some input for the design because this company mainly works in Merida. At any rate we will send you a email with more information. Thanks for writing us.
Hello i am looking at a Presale at a new Development AWA Playa. Gated Community with Security. Have you heard much about the Developer and Presale opportunities.
My husband and I are seriously thinking of buying a condo from the TAO group. Are they a good safe company? Anything we should be aware of? We plan to rent the unit (when done) for a couple years before retiring here. Sound OK? Thanks
We have heard of Tao but do not know of anyone who has purchased through them. They are working on some projects between Playa and Tulum. Is this where you are thinking of buying? There projects at Sirenis are more timeshare condos then real living spaces. The condo building they have in Playa is small slight in details. They are a lower priced developer but this is because are building in less desirable area. You might want to compare where you want to buy with our rental map of where people rent in Playa and why.
Who are the other developers besides Tao & Simca, and who is in charge of preserving the Ecology of Tulum, Playa Del Carmen, and the Riviera Maya in general?
Hi,
Please if you have info on simca development. Area zona dorado for pre sale condo
which will be better return on investment playa or tulum. Thank you
Hello Mary
Simca overall has a good reputation as a builder. We are not sure what you mean by “zona dorado”. There is no neighborhood or area called this. Perhaps on of the nicknames for the Coco Beach area.
Between Tulum and Playathere are a lot of factors. Both have a lot of development happening now. Tulum seems to have more of a shortage of housing and rentals by demand. A good way of doing some research is by looking at Airbnb and seeing what rates people are asking and seeing what dates or how much availability is there.
Can you send me info on a development that will start préstale on the beach in Playa del Carmen or any beach close by Tulum or whatever. Am interested but with présale since I am in no hurry.
Hello Maria
There are dozens of developments going on in Playa Del Carmen and Tulum. It seems like more are announced each day. Since we don’t have a complete list of these, we can have someone we know that works in real estate to send you some info on developments that can be bought in pre sale. We hope you find something you like.
Thank you for all of your work, this is fantastic information. We are looking for an investment in the Coco beach area. Preferrably a pre-sale. Would you be willing to share recommended developers and realtors? Are there any current developments that you think stand above the fray? Is there an optimal street for views, beach access, etc that you recommend? The shore, etc. Are there any future retail developments in that area that may impact location? Hoping to stay under 300k. Thank you.
Your budget should fit fine in that area. GMB is the largest developer in the area there and then there are a few smaller ones. One building that is going up now is on 38th street. That street is developing nicely with many of the original trees preserved and nice restaurants. The building name is Miranda. Units are higher end and in your budget is a one bedroom.
Most realtors will sell Miranda but it is always better to deal with realtors that are directly from the builders or closely related. The reason for this is that they have better negotiating power. If you need references let us know.
If you like the area closer to 46st the Shore is in progress now. It will be a larger building with more services.
Retail in that area is lacking and only a few restaurants survive in that area. We predict that in the next theee years more will fill in because the population will rise with all the new condos.
Do you know anything about the Siempre Playa condos planned by Simca?
10th ave and 38th. Would that be a good location?
Is it worth having a good realtor or lawyer involved?
Gracias.
Simca is one of the better companies that has been working in Playa for a long time. They have many developments built and are continuing to build. That location is a good one since Playa is moving more north. The entire block where this is will be new soon. Also across the street on 10th will be developed soon. So in a few years this area will look very different.
Thank you for your comments.
Is there a lawyer that you’d recommend to review a contract for a pre-sale condo with Simca? would you recommend title insurance? or could you recommend someone to speak with regarding these topics?
This maybe outside of your realm, but would you know if most US owners hold their Playa property in a Mexican LLC vs in their name? Or could they use an LLC from a different country such as Panama?
Gracias.
We are going to send you an email to the one you put here with some private recommendations.
Another question, are there any property management companies that you recommend?
Gracias.
There are so many and many change their direction as far as accepting rentals or going to long or short term rentals that it is hard to recommend a lot. You can look into North American Standards company and see if that works for you.
Gracias
Hello, do you have any information on the condos Zilha 42? They are offering presale units that sound and look good. Also do you know anything about the area? I have been to Playa at least once a year for the past 10 years, sometimes twice a year, but I have never ventured that far north, so I have no knowledge of the area. Any information will be helpful.
Hello Sergio
We don’t know this developer. The area is developing and there are other projects slated for this neighborhood. We predict in a year or two there will be more rentals and people staying in this area. This area is good for people looking to live in Playa or week or longer rentals. it has access to 30th Ave to shop for groceries and beach access at 38th and 46th streets. We predict this area will continue to develop and improve. CTM Ave will be the next frontier or limit to the downtown.
Hi,
Could you kindly recommend good and trustable developers for pre-sale? Also potential areas or buildings?
Regards
Luis
Hello Luis
There are so many developers and break off of development companies that it is hard to write it all down. Also sometimes the first project is not that good and then the kinks are ironed out. It is better to look at buildings you like and then do research on that developer. It is also important to have a trustworthy real estate person that knows the market and has been around to guide people to the better value projects. That is good you asked on our other article about that. We will send you an email about recommended realtors in Playa.
hola, felicitaciones por la pagina web utilisima para los que no conocen PDC, queria saber si saben algo sobre el grupo Velas y si son recomendables, estamos chequeando para ver si compramos una casa en residencial Selvanova y quería saber si son serios en acabados, entrega, seriedad y si es un residencial que garantiza plusvalia… es una buena zona en futuro??
gracias
Esta es una compañía decente con hogares de rango medio a alto. La casa aquí es más para las personas que viven en Playa o para los locales. La mayoría de las personas no rentan durante una semana o a corto plazo de vacaciones en esta área. La ubicación es buena para vivir en Playa Del Carmen. Si está buscando alquilarlo para vacaciones, es mejor comprar en el centro de la ciudad.
Pros are far less than the cons when buying presale real estate in Mexico
I am in negotiations with a présale condo in playa the are willing to give me a discount if I pay on a scale of
5% initial depost
55% down payment
20% grey work
15% on deliver
5% on title
Is this a normal process? They are established and have built many buildings. Also do you recommend someone I could hire to to the legal work?
Hello Michael
There are a whole mix of options as far as percentages. With a 60% down payment you should be getting a little discount off the price, like 3%. Since the Riviera Maya is a cash market, there are no low down payments (i.e 20% or less). In other parts of Mexico, yes there are low initial payments but not here. Sorry we don’t have a good person to refer you to for legal work.
What is the price range for a nice 2 bedroom with laundry and a decent kitchen? I would like to get at least 900 sq feet or more. I don’t have to have an ocean view. I love Playa del Carmen but would consider as far south as Tulum.
Hello Rob
That is a loaded question because it can depend a lot of what part of Playa you want to live. In general a two bedroom will start around 180k. A good place to start is by asking out recommended realtors to send you some current listing in the area. If you are looking at Tulum be sure to mention that because Tulum is building a lot of new places now as well. https://everythingplayadelcarmen.com/real-estate-agents-playa-del-carmen/
We hope you find something you like
Hi, after couple of meetings with developers in Playa I have some concerns. Real estate agents tells me that some of the condos in presales are offered for 70% of it’s real market value adn they are ready to re-sell when it’s finished or even before it’s finished so I can sell only the promise. my questions 1) Is there a market where buyers want to buy ready to move condo or everyone is happy to wait couple of months and buy in pre-sale? 2) how fast a ready to move condos can be sold if the price is e.g. 20-30% higher than same unit in same location and ready in 8 months? 3) I see tons of airbnbs option and not so much people on the streets, isn’t the supply way above the demand already?
Hello Jim
Not all buildings are offered at a 30% off price. Some realtors just say that to make a sale. It is pretty easy to compare the building to other similar ones and see what the asking prices are. This way you can find out what the market price is. In answer to your questions, some people prefer to buy presale and have a say in the finishing touches and will wait. Others will want to see how a building looks when done and don’t want to wait 6-10 months to receive a unit. Buying presale only to turn around and sell it is a gamble. You need to make enough to cover cost and the burden is on you. If non one wants to buy it right away, the developer made his money and can move on, you are on the hook. You also need to make a good purchase since the market is more tight now. Not all buildings rent the same. See our article on investing here. https://everythingplayadelcarmen.com/investing-in-playa-del-carmen/ Also our article on ROI and what you can expect. https://everythingplayadelcarmen.com/roi-playa-del-carmen/
Hi love the website,
I’m looking to purchase a condo in presale preconstruction in playa del carmen and surround areas of the city, can you recommend any projects and reputable relators ? Thank You
Hello
Thank you for reading our article. Here is an article with recommended realtors: https://everythingplayadelcarmen.com/real-estate-agents-playa-del-carmen/ You might also like to check out our pretty large Tulum guide to what is going on there with real estate: https://everythingplayadelcarmen.com/tulum-real-estate-market/ We hope this helps you.
Hello,
I was trying to find references or reviews for Simca as they are now offering pre-builds in Tulum. I was wondering if your thoughts have changed since you wrote this last email, or know of any significant problems that owners had?
If you can provide any direction as to who might have more inside or personal interaction with them I would greatly appreciate it.
Kind Regards,
Bob L
I have the sad news to report that I have made two purchases involving GMB Real Estate and after over one year dealing with these people I must STRONGLY advise anyone looking at investing with them to AVOID them at all cost. The stories are too long and frustrating to go into here; however they are not reliable and they do NOT follow-through to help owners with major problems with projects they both develop and help market/sell. Absolutely stay away from 15-40 Condominiums, as they are over a year behind in construction and the developer is nowhere to be found. A huge loss for us. We invested in good faith and may end up losing hundreds of thousands of dollars. CAUTION.
Thank you Francesca for your comments. We are sorry to hear you have had a bad time with real estate purchases. GMB is a broker and they work with different developers. Some of the developers do not do a good job and usually these business ties are broken off from the part of GMB when this happens. Of course this does not help you at all now. We do recommend buyers agents, like the ones on our website we recommend because they work for the buyer and are not limited to just selling for one broker/developer.
Estaba pensando en comprar un estudio pre sale en la 25 norte con 4y6. Esta en el centro para mi muy buena ubicaion. Pero no soy de PLaya y quiero rentar despues. Sabem me decir si hay nuevos proyectos para esta region. Pues cerca estal wallmart, ADO me parece bonita la region. Gracias
A la mayoría de las personas les gusta alquilar más al norte de esta área. Hay más proyectos que rejuvenecen el extremo sur del centro. Debido a que no vendemos la actualización, es mejor preguntarle a uno de los agentes que trabaja en la ciudad. Aquí hay una lista de agentes recomendados con los que puede contactar.https://everythingplayadelcarmen.com/real-estate-agents-playa-del-carmen/
Who are the other developers besides Tao & Simca, and who is in charge of preserving the Ecology of Tulum, Playa Del Carmen, and the Riviera Maya in general?
Hello Patricia
We have sent you an email with information on this for you. Thank you for your question.
Hello! Thank you for your exstensive platform of information! This really has been quite helpful.
My husband and I are looking at a spot there in Playa for our family of 5 to use as a second home and possibly Airbnb when we are in the states. We are looking for a 3 bedroom with a small yard for our dog and a gated neighborhood with ample amenities. No condos, preferably. We’d like it to feel like more of a house since we plan to stay for lengthy amounts of time here and there. Is it unwise to purchase on the other side of the highway? There seems to be nice homes going in that are more roomy in this area. Any advise on this as well as recommended realtors would be helpful and appreciated. Thank you!
Hello Natalie
Thank you for reading the article. The houses across the highway are going to give you move room and lower prices plus room for kids. These planned communities are called fraccionamientos. These can range from concrete box houses to upper end free standing houses with a luxurious feel. You can get a house for a little as $25,000 USD but it will be in a low income community and near impossible to rent on airbnb. There are areas where most of the houses start at $90,000 USD and go up from there. Many expats like these areas and new neighborhoods are popping up. It does mean you will need a car. No matter what place you buy on the other side of the highway, your rental market will be much less. It just is not convenient for people to stay for a week and have to commute to the beach. Most people do not arrive with a car either. If you want to go this route it will be best to try to get a long term renter for the time you are not in Playa.
If you are looking at a house under 1,000,000 pesos, it is best to go to the sales office of the development. Most realtors will not bother with trying to sell these because there is a little commission and even less sometimes with these developers. If you are looking for a higher end home, a realtor can guide you to the areas that fit you better and help you pick areas that are also more rentable. You could reach out to Sebastian on our guide recommended realtors. He knows the communities well and could assist you or have someone in his office do this. https://everythingplayadelcarmen.com/real-estate-agents-playa-del-carmen/
We hope this helps you.
Hi,
we are looking for a reconstruction condo in Playa Del Carmen, looking mostly in the Coco Beach area – I also have interest in The Loft, Torre Xave
just want to make sure we look at properties with reputable developers
we are looking for condos from $100k-$200k (1) bedroom 1+ bathrooms with a view
Hello Sheree
It is good to talk to a knowledgeable realtor like these that we recommend. They can tell you about developers and what their backgrounds are since all these realtors have years working in Playa. https://everythingplayadelcarmen.com/realtors-playa-del-carmen/
We are considering investing with Menesse in Play del carmen. Pre-sale. We like them and have good experience so far and they seem to be upfront and on top of things contractually but one never knows when investing in a foreign country. Any advice or tips about this company and their reputation? Thank you and enjoyed the comments and info on your site! Also can you give any tips on United states citizens process/paperwork/documents needed in having & maintaining ownership of property in Mexico?
Hello, thanks for all the info! We are about to sign a Trust Constitution Promissory Agreement, is this kind of contract a normal practice when foreigns are trying to buy a presale condo in Playa del Carmen? Also, do you know if the Menesse group has a good reputation? Thank you!
Hello Mariana
Menesse Group has a medium to fine reputation in the area. The problem is there are parts to every project and things change over time. For example, there can be the developer, then the master broker and then you deal with an agent. If anything is not correct with your condo, they blame each other. Buying pre sale and having a contract to sign, it is good to have your own lawyer to look it over. IT is pretty standard sign these types of agreements to hash out details for payments. There are a lot of details that should be in black and white for you. For example how the project is financed, what happens if it is not delivered on time etc. Menesse has been in the area for years and has done a decent amount of projects. Each project is different and how the project gets built is important for the overall quality and timing. Working with a good independent agent is good because they can be more open about the project and their opinions. Some buy from an agent that only sells for Menesse. This can be fine but it is like buying a car from a dealer and perhaps the sales person knows only what he is told and can only sell things from that dealership.
Do you know the mistiq project in tulum? Thinking of buying here…
Hello Lauren
We have been in this building and even filmed there twice. The units have a lot of space. At the moment that area does not have a lot of services close by, but as you know that area is developing. The new beach road is now open, although in very bad state with huge potholes. This area has seen the highest appreciation in the past two years since there was a lot of optimism that it would get the beach road and that area would develop. We like that project, it does matter as to what you want to do with the condo, use it or rental?
One question for you is, are you working with a representative sales person of the project or a buyers agent? This is important because sales reps for the project will work with you to sell you that building without comparable other options. A buyers agent can more easily contrast this building with other projects and give you more hard details of what is coming online and what the differences are between various projects.
I would like to say that the cheap condos, or the lowest prices in the downtown, I always feel bad for the people that buy presale. I can read the photos that are glizzy for selling. Even the cheap ones, you can see are not going to be that good. I think the owners are always a little disappointed in the results because photos look better than the real thing. On the other hand, the higher up condos usually do turn out like the photos. It the builder is good, and design is cohesive, the condos looks very nice, like the renderings. My recommendation to people buying, don’t buy cheap presale condos and expect much. On the other hands, if the condo looks good and is from a good builder and is upmarket, you can get a nice deal on these. I have even had the kitchen counters changed for almost nothing on a presale, because it had not been ordered and was almost the same price but much more my style.