Houses for sale in Cancun, Mexico

Long time visitors of this newsletter will know I have been advocating the benefits of owning real estate overseas.  I am constantly searching for excellent deals for my clients and now I am proud to announce a great discovery in Cancun, Mexico.

This is Cancun, If you have ever visited this city you will never forget its beautiful beaches, its amazing food, excellent climate, thrilling nightlife, interesting historical sites, and I could go on and on endlessly, but I will stop only because this is not a tourism information website, it is a real estate investment one.  The point is that the region is in the highest rank of quality in tourism destinations.

Cancun has a robust infrastructure to support tourism as well. From its high-end hotels to themed adventure parks and tourist oriented shopping malls.  Everything you could possibly desire is close at hand.  In the Hotel district, you could be forgiven if you forget you are in a foreign country.  Whenever you own property, you must be happy with the neighbourhood, when you own in Cancun, you will live in paradise.

There are some differences to owning a home in Cancun rather than Toronto.  The first thing you will notice is that home prices are much lower than you will be used to. You could probably buy your Mexican home for cash. In fact I highly recommend that you do, as the interest rates are much higher in Mexico than here in Canada.  Together, we can talk about the best way to finance your purchase.

The structure of houses themselves are of different materials.  They can be made from poured concrete with re-enforced steel rebar rods inside, or even concrete blocks covered with stucco, making the walls a very strong structure indeed.  The lot will be much smaller than you would expect from a house in Canada, meaning there is not too much to maintain.  The warmer climate means there will be no need for a basement.

Actually, your house will feel more like a condo apartment, as it has more in common with our condos than with our houses.  The design inside will be open concept; the living room and kitchen will be one large open space.  This becomes less true if you buy an older Mexican property.

You will park your car on a row of concrete slabs on the front lawn of your house.

Annual taxes will be considerably lower, around 10% of what you are used to.  As for your day–to-day activities, groceries, liquor and other purchases will be much lower in Mexico, as wages there are lower than ours.  This is just an overview, when we speak together we can get more specific.

Aside from what I am offering, when you buy properties for investment purposes, it is important to buy in an area that is being developed, as your property will increase in value because the neighbourhood is attaining more amenities.  This was another important factor I was looking for in selecting the site because the location of these new homes is in such an area.  New construction in the immediate area includes a future Wal-Mart, a series of hotels, as well as a major new arterial road to support all the traffic to these new developments.

I am recommending this development because of its investment potential, it is in a beautiful area anyone would love to stay, it has a wide range of activities for active people to stay occupied, it has a large support infrastructure, and specifically this site is in an area that is beginning to be developed.

This particular housing development is a subdivision of 45 houses. The only difference between them is the lot size.  The houses themselves are all identical three bedrooms, three bathrooms, 2 levels, and are 1104 square feet. The three choices for the lot size are;

• 45 ft x 108 ft, those start at $1,200,000 Pesos (MXN), which is around $98,000 Canadian,
• 16 ft x 78 ft, starting at $760,000 MXN  = $62,000 CAD and,
• 16 ft x 59 ft starting at $700,000 MXN = $57,000 CAD

Lower Level on the left, Upper Level on the right.

These are just the base unit, which would give you just a plain concrete floor and a roughed in kitchen.  The builder is offering a completed kitchen at an additional cost of $30,000 MXN ($2,400 CAD)

Each of the homes has a private back yard, and the subdivision itself has a shared park equipped with slides and other climbing and swinging equipment for children.

This type of investment gives you many options.  You can own a house, living in it yourself, and retire to a lifestyle more suited toward relaxation.  Or, you could use it as a vacation home, visiting it only a few weeks out of the year. While the rest of the time, you could rent it to other people who want to enjoy all the pleasures Cancun has to offer.  Think how quickly you can profit from your investment.  I can coordinate the management of your property from Canada using a local Cancun team.

If you would like to explore this opportunity a bit more with me, please feel free to contact me, Marcus Assalone Real Estate Saleperson for Coldwell Banker Terrequity, either by email or call me at 416 495-2362.

More information at http://mexico.marcus-assalone.com