If you are a nervous buyer when it comes to purchasing older properties: For instance, you are worried about the plumbing or the electrical? The roof might be old? When does it need replacing? How much will that cost? Or the thought of doing renovations in Mexico: Where do you start? Who will over see that? How much will it cost? If this is you: Then New Construction could be the way to go.
It may not have the Mexican character and charm you are looking for, but you only have to go for a walk around the streets of old-town to see more than enough of that.
It can be reassuring to buy in brand new condo buildings. The Warranties + Everything is new + The amenities: 24-hour security, stylish roof top pool, fast wifi, gym. AND if you plan to rent your property out - good rental demand. As a lot of tourists love "Brand New".
If you are not familiar with Mexico, sometimes, just for peace of mind, buying NEW can take the uncertainty out of buying here.
Something to be aware of: Often if you buy in the early stages, you get a discount on the purchase price. Your deposit goes to the developer (most of the time) to finance the continued construction. Discounts often depend on the amount of your initial deposit. But these discounts can disappear very quickly and without warning. You could find your dream apartment go from $350,000 to $450,000 OVERNIGHT. Often, as the construction starts a new stage/phase, the discounts get less or stop. For developers, it's a numbers game. And they are very black and white with this. So to avoid missing out on desirable pre construction discounts, don't delay.
There are often small teething issues when the building is first finished. Hopefully not 🤞🤞, but something to have patience with when you first move into the building.
Not all pre-construction projects are safe. There are uncompleted pre-construction buildings around PV where the developer went bankrupt and the building is just sitting there half completed.
Our main MLS system has certain guidelines that a project has to pass to be listed for sale on the MLS system here.
Also, AMPI (Mexican Real Estate Association) agents (like myself) tend to only promote projects where the developers have good reputations and credentials. And we avoid buildings that have "red flags".
It is important you choose an agent you trust so he/she guides you to good quality projects. So that you are investing your money in projects with the highest chance of success.
Lastly, You have to WAIT... It may be 6 months to 2 years wait for your building to be completed.
BUT IT WILL BE WORTH IT!
NOTE: Below is some New Developments. But there are more opportunities in PV also. Talk to Paul about what you like and don't like and your price range and he can send you in the right direction for a development that could suit you best. Also note, the information below, although I do my best to keep it up-to-date and current, some things change as the developments move forward. I apologise for any inaccurate information. Please ask Paul for updated information if you think one of these developments could be ideal for you.
Disclaimer: Prices are a guide and subject to change or exchange rate fluctuations.
Availability of units are subject to change. Discounts may apply for larger upfront deposits.
Although these developments are listed here in my newsletter and website etc, this does not mean that I promote these developments as good and wise investments. If you are looking to buy pre construction, consult directly with me about your needs and wants so I can guide you to the right developments for you and the safest options.
This list is intended to give you an over view of the majority of developments in PV.
Although I endeavour to have accurate information, the purpose of the developments breakdown is to see ‘at a glance’ the different developments, in the different neighbourhoods and the different price ranges. For more information on any of these developments, please contact Paul directly!
**Please note, some of these developments sell in Pesos only and I have used an average exchange rate to give you an idea of prices in USD. However prices maybe different depending on the current exchange rate at time of purchase etc.
Do you have an interest in Pre-construction? If so, contact Paul today for more information or to have a video or in-person showing at these developments.
+52 322 384 6188 / paul@paultrimmer.com
Here are 4 important things to do and think about when buying pre-construction:
1) Have the purchase contract and all the permits reviewed by an independent, Puerto Vallarta, Real Estate Lawyer.
2) Choose a development represented by a reputable real estate agency.
3) Choose a 'buyers agent' to represent you (it doesn't cost you any more). Someone you trust and an agent who is experienced with selling pre construction so they can see any red flags and alert you to them.
4) Don’t be attracted to Good Prices without doing careful due diligence. Prices to build have gone up a lot over the last few years. Quality developments built by quality and experienced developers are not cheap. Therefore how are developments that are cheaper, do a good quality job when finishing? Don't rush into opportunities that seem 'too good to be true'.
I hope the video provides some value!
Have questions on this topic? Please get in contact.
Other Past Videos on Pre Construction by Paul Trimmer
Episode 1 (Beginners video): Click HERE
Episode 2 (More indepth): Click HERE
Episode 3: (Risks of Buying Pre Construction): Click HERE
Episode 4 (Further Notes): Video in todays Newsletter (Click HERE)
Do you have an interest in Pre-construction? If so, contact Paul today for more information or to have a video or in-person showing at these developments.
+52 322 384 6188 / paul@paultrimmer.com