5 Things to Do Before Investing in a Development

The Riviera Maya offers amazing options for business. There are condominium developments from top to bottom and many more in their way.  Take a look at these 5 things to do before investing.

Gather information

Trust should be earned. A little research is always good before handing in your first payment. Take into account the years of experience of the developer, and other projects, their success, and referrals are always handy. Their good reputation is the first box you should check on your list.

Business Model

This includes administration, policies, standards, and a long-term plan. Here you will be able to foresee and give an ample idea of your investment choice.

Suggested read: What is a General Assembly of Condominium Owners?

Return On Investment (ROI)

This is the amount of time required to get your money back. Ask about the developers’ marketing plans. Other data will help you make a better decision. We’re talking about the included amenities, the occupancy rates, and the surroundings of the development. Is it located in a resort? What other places of interest are located around it? Associated brands also play an important part in the game. Revise what extra expenses come with your investment.

Management

Make sure whoever is doing the administration and management of the units is reliable, professional, and accessible. There shouldn’t be any surprises here!

Homeowners Association

Don’t forget to read the rules and policies of the development and be informed on the fees and taxes you’ll be paying and how frequently. Are there any restrictions on the renters? Can they easily reach the place? Do they need a card or ID?

These are just some important considerations, but if you have further questions feel free to contact us and let us help you. Our more than 20 years of experience in real estate and property management speak for us.