COMMON QUESTIONS & ANSWERS
Q: What are popular neighborhoods and areas in the Riviera Maya?
A: Playa del Carmen, Tulum, Puerto Aventuras, Akumal, and Puerto Morelos are all popular areas for investment.
Q: Is the Riviera Maya safe and secure?
A: Absolutely! The Riviera Maya is generally considered safe for tourists and expats.
Q: Which property type should I choose?
A: Align your choice of property type with your budget, lifestyle preferences, and investment goals. Condos offer lower maintenance and shared amenities, while villas and single-family homes provide more privacy and space.
Q: Should I buy a new development or a resale property?
A: New developments often have modern amenities and potential for appreciation, while resale properties may have a more established community and a lower initial price.
Q: How can I ensure the property is in good condition?
A: Hire a professional home inspector to evaluate the property’s condition, including structural integrity, electrical and plumbing systems, and potential maintenance or repair needs.
Q: What is the process for foreign buyers to purchase property in the Riviera Maya?
Q: What are the typical closing costs and fees?
A: Expect to pay between 5-9% of the property’s value in closing costs, including notary fees, acquisition tax, and other expenses.
Q: Are there financing options for foreign buyers?
A: Some developers offer developer financing, or you may explore options with your home country’s banks or private lenders.
Q: What is the rental market like in the Riviera Maya?
A: The Riviera Maya has a strong vacation rental market, but demand may vary by location and season.
Q: What is the appreciation potential for real estate in the Riviera Maya?
A: Real estate in the Riviera Maya has historically appreciated over time, but individual property appreciation depends on factors like location, property type, and market conditions.
Q: How can I find a reputable property management company?
A: We would be happy to recommend good-quality property managers.
Q: What are the average ongoing expenses for owning property in the Riviera Maya?
A: Typical ongoing expenses include utilities, property taxes, insurance, and maintenance costs. Budget for these expenses and adjust rental rates accordingly.
Q: How do I set up and maintain utilities for my property?
A: Your property manager can guide you through setting up and maintaining utilities for your property.
Q: What is the expat community like in the Riviera Maya?
A: The Riviera Maya has a vibrant expat community, with social events, clubs, and online forums for networking and support.
Q: What recreational activities and cultural events are available in the Riviera Maya?
A: The region offers water sports, golf, eco-adventures, and archaeological sites. Local cultural events include the Day of the Dead, Carnival, and various food and music festivals.
Q: Are there quality healthcare facilities and educational institutions nearby?
A: The Riviera Maya has several private hospitals and clinics, and a growing number of international schools offering bilingual education. Research the specific facilities available in your chosen area.