Playa del Carmen Vacation Rental

[Clay Sexauer]

My wife and I are considering the purchase of two condos (next to each other, to do a lock off) for vacation rentals in Playa del Carmen, it's a pre-sell so we have a better price now, compared to when they're finished and we have a number of questions: 1. We will be purchasing two one-bedroom units that have a lock off between the units. Both units can sleep up to four people and if you combined the two they can sleep up to eight. We have the option of buying the units on the second floor or fifth floor. Currently, the fifth floor unit will have a moderate view of the ocean. But there is the potential of another developer building in front that may block the view. The price total difference to be on the top floor is approximately $40,000 (for both units). They have the same layouts and the same square footage. Is there a greater advantage with a higher floor unit if the view is blocked as opposed to a lower floor unit? Also, from a marketability point, is the higher floor more desirable than a lower floor from a vacationer's point of view? (One elevator, 46 condos) And lastly, would you/they be willing to pay more to be on a higher floor on a nightly basis? 2. Is someone familiar with the closing cost in Mexico, specifically Cancun? 3. What are potential red flags with the developer? How much room for negotiation is there? 4. Does anyone know of any lenders in the US who lend for these projects? Any advise is greatly appreciated! Best, Clay

[Nancy Bachety]

Good questions. Ask yourself, as a guest, would you pay a surcharge to be higher up with a view? Or without a view? Is it worth the $40,000 cost to you to recapture any price differential? Too risky, even if it was worth it to you, given the potential to level the playing field with views.

I’d walk up a flight but probably not 5. At the end of the day, if you were staying there, would you personally want the view ( of the same ocean) you’d see when you are lounging at the beach all day long?