The desire to own a beachfront home in the Riviera Maya is a dream shared by many. Understanding your financial position is crucial for making informed decisions about the best financing option. In this blog, we will delve into various financing options that will bring that dream closer, allowing you to embrace the Caribbean lifestyle you’ve always longed for.
Pre-Sale Properties: Your Gateway to Paradise
We emphasize the relevance of pre-sale properties due to the abundance of current offers. By securing your unit and making the initial payment when signing the contract, you have 1-2 years to settle the remaining balance. You can choose to make payments over time or a lump sum at the time of delivery. Pre-sale projects, offering proportional discounts to the initial payment, not only represent initial savings but also the opportunity to gain profits at closing, as the property value and project prices will experience an increase.
Through Banking Institutions: Opening Doors to Competitive Financing
Currently, foreigners can access financing options through Mexican banking institutions, benefiting from competitive rates and simplified pre-approval processes. There is also the option where a trust can handle the mortgage with attractive interest rates, terms, and buyer security. Interest rates fluctuate between 8.9% and 11.9% in the latter part of 2023.
NOTE: It’s essential to consider that for any financing, a percentage of your own resources is required, which will vary depending on the chosen financing method.
For Mexicans with accounts in the country, our financial advisors can explore mortgage loans and strategically negotiate prices.
If you are Mexican but don’t have local accounts, we will identify credit institutions that suit your income and assets. The crucial first step to obtaining financing is prequalification, preparing you as a serious buyer for future negotiations.
Developer Financing: Simplifying the Path to Your Home
Some real estate developers in the Riviera Maya offer direct financing solutions, streamlining the process and providing flexibility. Explore terms and conditions to discover options that suit your needs, including projects that offer up to 50% financing with attractive payment schemes.
Communicating your financial needs from the start with your Moskito agent will ensure precise guidance and personalized options. With the right financing option, the dream of your home in the Riviera Maya is within reach. Understanding your financial situation, exploring solutions, and considering creative strategies will allow you to embark with confidence on the journey to the perfect home in the Mexican Caribbean.
Remember, it’s not just about acquiring a house; it’s about embracing the imagined lifestyle. Welcome to the Caribbean Paradise with Moskito Real Estate!