The pool of buyers is very shallow. You must find someone that values it close to what you value it - some sell fast, some sit for years
advice wanted re. purchasing property in Cozumel
- Thread starter rmssetc
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The pool of buyers is very shallow. You must find someone that values it close to what you value it - some sell fast, some sit for years
obviously it would depend on the inventory levels at the time, but in general, i would say there are more people selling than there are buying. everything is for sale in playa. lol
ccannon707
Contributor
Though I don't own, I know people who do in Cozumel. The gist of their experiences below. Several of these points have been mentioned above.
1, You always have to come up with the total price to buy - no loans unless there is owner financing.
2. No title insurance. Find a reputable Realtor, Notary & Lawyer. Get references.
3. Don't count on paying your expenses from renting.
4. Upkeep can be a real $$ Pit - things rust, break and mold in the tropics, quickly.
5. Electricity is horrendously expensive. A friend who leaves her condo in the summer has to keep the AC on so things don't mold.
6. If you need to sell, don't count on selling fast. There are properties that have been for sale for years...
7. Hurricanes happen here.
8. Do you speak Spanish?
9. A friend who comes to Cozumel for 5+/- months of the year unexpectedly inherited money & considered buying. "The Dream" , right? After looking at properties & crunching the numbers she realized she could come for the next 20 years, rent the nicest villa possible and spend a fraction of the money she would spend buying. And she'd have none of the maintenance costs.
10. If you have the disposable $ to invest, see yourself visiting a lot, or retiring here it can be a good thing. Obviously there are many ex-pat owners on the island. But first, come down for a few months, experience all seasons, RENT & stay awhile... and then see if this is for you.
1, You always have to come up with the total price to buy - no loans unless there is owner financing.
2. No title insurance. Find a reputable Realtor, Notary & Lawyer. Get references.
3. Don't count on paying your expenses from renting.
4. Upkeep can be a real $$ Pit - things rust, break and mold in the tropics, quickly.
5. Electricity is horrendously expensive. A friend who leaves her condo in the summer has to keep the AC on so things don't mold.
6. If you need to sell, don't count on selling fast. There are properties that have been for sale for years...
7. Hurricanes happen here.
8. Do you speak Spanish?
9. A friend who comes to Cozumel for 5+/- months of the year unexpectedly inherited money & considered buying. "The Dream" , right? After looking at properties & crunching the numbers she realized she could come for the next 20 years, rent the nicest villa possible and spend a fraction of the money she would spend buying. And she'd have none of the maintenance costs.
10. If you have the disposable $ to invest, see yourself visiting a lot, or retiring here it can be a good thing. Obviously there are many ex-pat owners on the island. But first, come down for a few months, experience all seasons, RENT & stay awhile... and then see if this is for you.
BrewingDiver
Contributor
Excellent points. I think #9 is spot on and really key. I think this applies to most people's situation when considering a purchase anywhere in paradise. Unless you really believe you will come out way ahead, why even add something else in your life to worry about?
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The first 432 people who send me $5000.00 can come and visit and stay at my new place for two weeks every year for the next 5 years.
That's only $500 per week for luxury accommodations.
Hurry and act fast, space is limited to the first 432 smart divers.
Send money today before someone else buys this place.
www.lamudi.com.mx
That's only $500 per week for luxury accommodations.
Hurry and act fast, space is limited to the first 432 smart divers.
Send money today before someone else buys this place.
Casa frente al mar, alberca y jacuzzi, area de fogata y BBQ, bar en la alberca,
Encuentra Casa Venta en la colonia Zona Hotelera Sur en Cozumel. Disfruta de 2 Recámaras, 2 Baños y más amenidades ¡Infórmate aquí sobre precios y detalles! ID HO628C8C5ACFBE7MX
mstevens
Toadfish. Splendid is implied but not guaranteed.
It took me far less than a total of 6 months to get permanent residency, and I was out of the country for all but a few weeks of that time.
mstevens
Toadfish. Splendid is implied but not guaranteed.
Very much this. We've owned our house for 12 years and I wouldn't have it any other way, but I can't make any convincing arguments that it makes good economic sense - #9 is spot-on. For a while now it's been paying its own way through rentals but I really hate having renters in what I now think of as my true home so that's going to stop.
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