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Hello.
I and my wife both work remotely. We come from Europe but we're living abroad since 2013. We spent most of last 4 years in Asia, but in 2015/16 we spent winter in Playa del Carmen and we both loved it. Recently I came up with a crazy idea that we could buy a property in that area and settle there (we're both pretty tired of living in rented houses/apartments).
We both earn pretty good money and we're very good at saving (we don't buy things that hurt our mobility). We also have a property back in Europe that we could sell. Also, we agreed that we don't want kids. I calculated that our budget should exceed $300k within next 5 years.
Now, here come my questions. We don't really want to live in an apartment, we'd love to build a 100-150 sqm house. I've been looking at land prices in that area and they seem to be very high, but also couldn't find any particular piece of land for sale that would make a good point of reference (reasonable distance - <3km to centre/beach, 1000-2000 sqm lot size). So:
1. How unreal/unpractical is my idea? My knowledge about real estate market there is next to none, but my first impressions are that:
-the neighborhoods on the west side of highway don't look nice (I've used google street view to check). Houses and infrastructure out there look old and neglected;
-despite that land is still expensive there;
-we probably can't afford anything near Playacar
2. Are there any existing/in-construction neighborhoods that would fit my budget/requirements? If we wouldn't be able to build our own house, we could eventually buy an existing one.
3. Maybe, with our specific budget/requirements, it would be better to start looking for land in other cities/towns in Quintana Roo?
For now it's not really a plan but a random thought that I wonder if we should consider so I would be very grateful if you provided me with answers to my questions or with your own suggestions. Thanks in advance.
Hubby and I were frequent travelers to Playa del Carmen for a number of years, but we have now moved on due to rampant overdevelopment. The character of the city is changing too dramatically and rapidly and in our opinion, the city is losing its charm. Too many huge American shopping malls being plopped onto 5th Avenue, wiping out charming mom and pop shopping areas (like Calle Corazon), etc.
We used to love to stay on the North end (around 38th and the beach) and found it to be perfect...close enough to the action without being right IN the action. The beach was peaceful in that part of town and we could relax and enjoy the beach during the day and the walk into town for action at night, very quickly.
Now, the action has continued to move north and there is a noisy beach club right on the beach at 38th. I feel so sorry for the people who own condos there because they are blasting loud techno music at ear splitting decibel levels all day long. This is a common problem in Mexico and culturally, Mexicans have a much higher tolerance and acceptance for noise.
Most troubling, cartel crime has now moved into Playa and there have been several shootings right on 5th Avenue within the past year.
The point of my comment is this: buying is a risky proposition because conditions change quickly - especially in PDC - and you may buy a place that you love, in an area that you love, and a year or two later it's overrun with crime or a blaring nightclub or beach club. For example, our favorite condo complex is Natz ti Ha, right at 38th and the beach. Every time we would visit there, I would fantasize about owing one of those condos. But now, given the changes in that (formerly quiet) part of town, I would be very upset to own there and I feel sorry for the people who own condos there. The people at Natz ti Ha, and the other condo complexes on that beach are pitching a fit over the noisy beach club and I have heard that it improves at times, but starts up again.
My opinion is that renting is a better option. It gives you more flexibility and you are not tied to a place. You don't have to worry about upkeep/maintenance, damage by hurricanes, renting it out while you are away and all of the many other worries that come with owning. Also, if you get tired of PDC or if conditions change in a way that makes you no longer love it there, you can move on to another place.
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