Playa Del Carmen Condominiums
…like having an apartment, but you own it…
I remember living in the States and occasionally watching those TV shows about buying and redeveloping condos.
(I think they called it “flipping” them.)
They were so boring!
Half the show was adverts, and the other half was about what color they were going to paint the walls or which kitchen units to fit.
I thought, ‘I’m never going to buy a condo if this is what it involves.’
Then I spent a day with a local realtor and changed my mind.
Playa Del Carmen condominiums normally first involve sharing a tequila and asking the number one question – how far to the beach?
Whether you are buying a condominium here as an investment, buying one to live in, or renting a condominium here, then you can switch off the cable TV real estate show right now.
Forget all this nonsense about choosing between three different shades of the same blue that have nonsensical names.
Don’t worry about the shape of the kitchen units.
This is Playa Del Carmen – and Mexico.
There are far more important questions than this superficial garble.
Location, Location, Location
The number one consideration with a Playa Del Carmen condominium is WHERE.
Often the chief question is how far from the beach.
If you’re coming to live in tropical paradise, then you don’t want to be on the other side of highway 307.
You want to be able to wake up and smell that ocean breeze.
Obviously the closer to the beach the more expensive.
The next question is how far from 5th Avenue do you want to be.
Do you want to feel the party atmosphere from your balcony, or do you want to out of the center of town.
Again, it will cost more the closer you are to 5th Avenue, because it is thee hotspot of the city.
The Amenities To Expect In A Playa Del Carmen Condominiums
The majority of Playa Del Carmen condominiums aren’t over the top with facilities.
However I’ll answer the most imperative question.
Do they have a swimming pool?
You bet they do!
Well, not all of them, but many condominiums come with a swimming pool so you can do plenty of sun tanning in private.
However, it’s usually not a swimming pool where you can do lengths.
So leave the swimming goggles at home.
But big enough to cool off from the sun and mess about in after too many beers.
Many of them also have wi-fi throughout the public areas.
It’s not lightning, but it is fast enough to do all the basic stuff.
But if you’re some square who wants to spend their time in here downloading movies, then you’ll need a private collection.
What’s On Offer At The High End Playa Del Carmen Condominium Hotels
There are some condos that have absolutely everything you could ever want and then a load of things that sound good, but you’re never going to use.
These condominiums are very popular on the rental market.
They’re often bought by investors who know that tourists are coming here with lots of cash to spend.
So they might have a jacuzzi, beauty salon, on-site restaurant, laundry service, and maid service.
They will probably have a fitness center (I told you about amenities you’re never going to use).
These condo-hotels might also offer room service and a concierge service.
Some even have a babysitting service.
In addition, these condominium options have much bigger swimming pools.
So if you want to do the ‘doggy paddle,’ then you can dive right in.
The best thing to do is ask the owner exactly what is included.
Buying A Playa Del Carmen Condominium – Appreciation Rates
Playa Del Carmen is growing – and fast.
It’s at the center of a grand government plan to seriously develop the whole of Riviera Maya.
New condo developments are going up all the time.
And the city is expanding in every direction.
All along the coast there is real estate waiting to be gobbled up.
All property in Playa Del Carmen has appreciated dramatically in the last ten years.
It’s gone through the roof and there is no sign of it stopping.
The property that has appreciated the most is everything closest to the beach and 5th Avenue.
While Playa Del Carmen is expanding everywhere, the most expensive property continues to be 5th Ave and ocean views.
One thing to consider is that there are plans to develop more exclusive gated communities like Playacar.
Whether that means they will be good value investments seems debatable as they are going to be expensive and quite a long way from the center of Playa Del Carmen.
Also, while the property around golf courses has appreciated dramatically, there are plans for more golf courses.
There aren’t plans for a new 5th Avenue or main beach (although Fifth Avenue is extending northwards rapidly as you’re reading this).
That should give you an idea of how much rental income you could realistically get.
Remember to take money off for agent fees and time when the condominium is empty.
What To Do If You Want To Purchase A Playa Del Carmen Condominium
Have a look at my interesting experience with local realtors.
It certainly was a roller-coaster ride and taught me a lot about buying property in Playa Del Carmen.
The most important rule is that you should not make any purchase without a trusted local friend or a reliable local attorney.
With all the new developments taking place, Playa Del Carmen is becoming a buyer’s market.
There is plenty of choice for anyone wishing to buy a condominium here.
So take your time, weigh up the different options, and do some research into how the Mexican government sees the Riviera Maya developing.
You can get a great bargain here and will certainly get better value than in the States or most of Europe.
My recommendation would be to come here for a month and spend time in different neighborhoods before deciding which is best for you.
While the beach front lures everyone, there is great diversity in the condominiums on offer here.
Finally, once you’ve bought one, send me an invite to your condo warming party!
Lots of love,
It’s your turn. Do you have any information that you can add to this conversation? Please leave it in the comments section below!