Feb 10, 20224 min read

Should You Buy or Build your Casa in Mexico?

Have you been looking for a house in Playa del Carmen and still can't find the ideal one?

Have you thought about building, but have doubts?

It is very likely that your needs and tastes are particular, it may be that living in a condominium with shared areas is not what you want, you are looking for a large garden or perhaps that sustainability is an important factor when buying a house. Whatever the reason, here are some tips to hep you while exploring the idea of building your house, to your liking, on your budget and with your requirements.

CONSIDERATIONS Time

The time required to build a house that measures between 150 to 220 m2 is divided into several stages. The first step is to have the architectural and executive design, which takes between 6 and 10 weeks, with meetings between the clients and the architect at least once every 10 days for revisions, until the final plans are ready to request the municipal construction permit. The second step is to prepare two studies: the soil mechanics study and the structural calculation, which each take between 2 and 3 weeks. Having the above ready, the procedure to obtain the construction permits before the Municipality and the State begins, which can take between 4 and 6 months. Once all the permits, plans and studies are in place, construction begins, which can take between 6 and 8 months.

So, in total, the process can take between 12 and 18 months.

Buying a house to live in should never be a decision made in a hurry to move, regardless of whether it is built or bought finished. The important thing is that you like it, that it has what you need and therefore you feel happy with the result of your decision. If necessary and with good planning, a part of the budget can be allocated to rent an apartment or house during the course of construction.

Budget

It is very important to have a base budget in mind, but do you know how to distribute it between the land and the construction?

To make a correct planning, first realistically think of an approximate number of square meters of construction that is suitable for you and multiply it by $18,000 pesos (average residential type in the area). This is to give you an estimate of construction costs, which in the end can go down according to the materials you choose and the size of the house or can go up if what you want to build is a luxurious house. Deduct this figure from your total budget to get an estimate of the value and size of land you should look for. Also consider that when buying land, closing costs will be generated which are between 5.5 and 7% of the purchase value.

If you don't know how many square meters you need, or what kind of finishes you want to put on, you can consult an architect to help you with this.

We can help you with these calculations. You can send an email to our architect to explore your costs, design and construction ideas or you can write to one of our real estate consultants to comment on the prices of land in the different residential areas of Playa del Carmen.

ADVICE About Location

With the help of your real estate advisor you will be able to know personally the different land options, since this decision will translate into a better quality of life and added value. When you visit them, look at the vibe you perceive, the neighbors, the types of construction that are around, see the orientation to imagine how the air and light will cross in the place, also ask your real estate consultant about the area, the type of land, security, regulations in the case of condominium land and everything that is important to you in a community.

Utilities

Ask about internet, cable and telephony services that reach the field. If you have a CFE connection on the ground, if there is underground infrastructure, if there is lighting at night and make a general balance.

Comparatives

Ask your real estate advisor to support you by checking on their networks about options that are on the market. Do not let yourself be guided only by the prices because the most important thing is that you like the location and the "feeling" of the area where you are going to live.

Documentation

If you have already explored land and there is one that you really like and are interested in, ask your advisor to review in detail all the legal documentation, that it is properly deeded and registered in the public registry, checking that it does not have a lien.

Closing

Once the amounts and payment dates have been agreed with the seller, the Public Deed is signed before a local Notary to transfer the property to your name. At this time, payments will be made to the seller of the land, as well as those corresponding to notary fees and acquisition taxes.

As you can see, acquiring and building a property is a process that takes time and effort. With the help of an expert architect and professional real estate advisor, the result should translate into great satisfaction when receiving your ideal home.