BUYING PROPERTY IN PRECONSTRUCTION STAGE

In the last 4 years, the downtown area of Puerto Vallarta has experienced an increase in construction of condo buildings and developers all seem to want to outdo each other’s last buildings common areas, which may include rooftop infinity-edge pools, gyms and lounge areas.

This is all very attractive and enticing for today’s buyers, especially for the discounts offered in a strong market however, buying preconstruction at home is something that makes people nervous, let alone buying preconstruction in a different country.

Yes, buying preconstruction is a risk anywhere but the key to minimizing this risk is to buy from a reputable developer, someone that has already proven to deliver high quality construction on time. Delays in construction are not uncommon, and all developers will include a 3 to 6 month delay contingency clause in their contracts to protect themselves. All developers at one time or another may have used their contingency clause but, there is a difference between this and not delivering in the time stipulated in the contract.

You may also want to make your DP as little as possible and finish paying for it when you take possession of the unit.

Another way to minimize the risk is to buy the unit once the building is finished and the units are ready to be deeded however, you may not be able to get the discounts offered in preconstruction.

It is always a good idea to have a reputable realtor represent you in a preconstruction purchase as they know who is whom in their local market and for your convenience, I present you 3 good options in preconstruction that may be of interest to you.

ARCO PLAYA in Sierra del Mar Los Arcos

Next door to their beach club is the last building in this development. The developer has an impeccable reputation having delivered Residencial Sierra del Mar, and the first 4 buildings in the beachfront development of Sierra del Mar Los Arcos: Arco Sur, Arco Mayor, Arco Menor and Arco Norte.

Arco Playa has already started construction and is right on schedule. The building will be seven stories high with one unit per floor (PH is already sold), 3 bedrooms, 3.5 bathrooms, ranging from 2,690SqFt to 3,228SqFt

Prices range from $695,000 to $895,000 with a 15% discount for the next 3 sales.

Payment plans are 35% down; 60% in 4 equal quarterly payments and 5% upon delivery in June 2019.

Click on the image below to see photos of the site, beach club, and model unit or send an email alfredoh@tropicasa.com

URBAN at Carranza

This 13 unit building is located in the heart of the romantic zone, one of the most desirable locations in town, less than 3 blocks from the beach, and at an affordable price.

The developer also has an impeccable reputation having delivered many buildings in town, including one of our offices, several years ago.

This 7 stories building has two, 1,291Sqft, 2 bedroom, 2 bathroom units per floor (except the ground floor which is a 1 bedroom 1 bathroom, 1,592Sqft unit) with balcony, rooftop pool and elevator. There are 5 parking spaces available at additional cost.

There are only 6 units left in Urban and they already have a model unit which you can see in the following link:

Prices are from $268,618 to $316,077 with up to 7% discount (Prices and discounts may change without prior notice)

Payment plans are 50% down; 30% in equal payments during construction and 20% upon delivery in August 2018.

Click on the following HERE to see more information about one of the units or email alfredoh@tropicasa.com for available inventory or additional information.

PORTOSANTO

Located across the street from The Icon Towers, one block from the beach with a public access to it. The building will be 8 stories high with a rooftop which will have two infinity edge pools and it will have views to the ocean, cruise ship terminal and mountains, other amenities will include a gym, BBQ area, sun deck and an elevator Underground parking is also available at additional cost.

For now, they still have 8 units available (out of 46), ranging from $321,213, 2 bedroom, 2 bathroom, 1,978Sqft to a $616,209, 2,736Sqft PH.

Payment plans are the following:

20% Off price list requires: 30% Down Payment, 6 payments during construction of 10% the sales price each, and a 10% final payment on delivery

30% Off price list requires: 40% Down Payment, 3 payments during construction (20%, 15%, 15% of the sales price), and a 10% final payment on delivery on March 2019.

Please email me for additional information about the available inventory alfredoh@tropicasa.com

 

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