If you are just about to start investing in Mazatlan real estate properties, it is prudent to review your options before making this huge financial commitment. The most important thing to look at as an investor is the type of property. Do you need a single family home or a condominium? Since property markets differ, all your decisions should be arrived at from an informed perspective.
Ideally, condo units are probably the most lucrative investments you can make in an area like Mazatlan. Here, there is a vast amount of condominium units for sales ranging from one, two, or three bedroomed units. The location, amenities, and views offered by these properties are equally unique. Thus, you need to be very specific when looking at these oceanic properties. That said, here are some reasons why most investors prefer condos over other housing units.
Low Down payments
Instead of buying land and putting up a house, most people prefer buying condos. Either from an investor’s perspective or from that of a homeowner, a condo is relatively affordable to acquire. If you have been paying rent for some time, buying a condo makes a lot of sense. Condos are relatively affordable compared to the costs of building a single family home. Even better, you do not need a substantial down payment to own a condo.
Owning a single-family home means taking care of your lawn and other landscaping chores to maintain the curb appeal of your property. These responsibilities can be, or they could be costly especially in the case where you have to hire a landscaping expert to do the job. With a condominium, you only need to pay the homeowners association fees and let them take care of the rest.
Most condominiums go out of their way to ensure their residents are secure. Since most amenities and functions are shared, it becomes easy and cheaper to have a security team manning the property as well as crucial security features like CCTV systems. These security features combined with the sense of community living goes a long way in giving you peace of mind considering that there will always be someone on the lookout.