Have you considered buying a Mexico home to fix up? While lines at the hardware and home-improvement stores are appearing again in the U.S., with more buyers ready to invest some money in fixing up their home, experts are pointing out that the situation is drastically different from the large renovation trends last seen around 2006. Back then people were fixing up to invest and re-sell and re-invest; now buyers are fixing up because they feel because of low equity they’re stuck in their current home anyway, why not make it nicer, more efficient, etc.?
Investing in a Mexico fixer upper presents one possible solution to this “stuck here anyway” dilemma. High-potential Mexico beachfront homes in less-than-perfect condition can be obtained for a fraction of the market value. A relatively small investment can bring the home up to market value, bringing a good return on re-sale or a great possibility for rental, making for a situation more like what you remember back before the housing-market slump in the U.S.
One good example is a Puerto Vallarta Homes. A neighborhood called Alta Vista is just being discovered and gentrified; while homes and villas tend to be in shorter supply and start in a higher price range of $500,000 U.S., a home in need of some repairs can be found for half that price. If a buyer finds the right fixer-upper, this could lead to excellent increase in value. Another location on the Pacific coast good for renovation projects is Mazatlan where classic homes in the colonial city center are getting noticed for their project potential.
Moving across to the Yucatan Peninsula, Playa del Carmen properties can also be found with good possibilities for investing in a renovation. Whether it’s an older home in PlayaCar, one of the established favorites for American buyers, or a nice home with under-developed potential just outside of the touristy area (which is growing larger, and is likely to swallow up that nearby area, if you choose it well) Playa del Carmen real estate’s ongoing expansion make the money and time spent into fixing up well worth it.
Examples can be found in many other favorite or up-and-coming tourist areas in Mexico. If you feel like you’re stuck with your current U.S. home, consider a different kind of fixer-upper project – one that will be a money-maker, and help get you ahead of the game.
TOPMexicoRealEstate.com; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Mexico Real Estate NETWORK; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!” Region: Playa del Carmen real estate. Thomas Lloyd graduated from Purdue University Krannert School of Management with a