Does Peurta Privada seem too expensive apples to apples??? Is there more value?

[AZ-Vaquita]

First off, the place is beautiful and I cannot conjure a complaint outside of the cost.

2br 2ba seem to be widely available at other properties and can be found for more than half the asking price of PP
3br 2ba seem to be listed for 70% more than other comparable properties

PPrivada is beautiful and the interiors were the nicest Ive seen so far, but is the asking price worth it? Does the "non-renter" angle account for this? Do they see this property as having a better investment angle?

There are "penthouse" condos with 1000sq ft more available at Palomas for the same price or even less.

Houses seem to be less of a money pit here than condos. Im not looking to rent out but get the best value for someone that is here nearly year round

All opinions appreciated.

 

[jerry]

No renters is huge..I'd think it makes the place worth 30% more.The best deal in town is Roberto's Hacienda...if you want better beach ,landscape and no people head to our little corner of the world ..Santo Tomas

First off, the place is beautiful and I cannot conjure a complaint outside of the cost.

2br 2ba seem to be widely available at other properties and can be found for more than half the asking price of PP
3br 2ba seem to be listed for 70% more than other comparable properties

PPrivada is beautiful and the interiors were the nicest Ive seen so far, but is the asking price worth it? Does the "non-renter" angle account for this? Do they see this property as having a better investment angle?

There are "penthouse" condos with 1000sq ft more available at Palomas for the same price or even less.

Houses seem to be less of a money pit here than condos. Im not looking to rent out but get the best value for someone that is here nearly year round

All opinions appreciated.

 

[mexicoruss]

If I were to buy a condo it would be PP or Sonoran Sky. I am happy in my barrio house though and love no hoa fees every month. makes for a good life

 

[Roberto]

The condos suit the needs of some. Our friend here Rob is one of those. He's happy so I'm happy, not HAPPY! You have to have a strong idea what bugs you and what you can tolerate and what you really like in a home, particularly if you will live there, not just vacation visit. Personally I seriously doubt if I would be happy in a condo or even living in an apartment. That's a bigger issue than the cost in dollars, I think. Quality of life. Then of course there is the overhead that owners seem to have little control over some times. That would really bug me.

As for investment value, after establishing your personal condo preferences for layout and amenities, buy the lowest price that fits your preferences, but establish your preferences FIRST. A hierarchical ordered list is good. Assuming all things equal, "I like A the best at a rating of 9, them B and C are both 8", then go to pricing. You might get a 2 bedroom in development X for $10,000 less than development Y but if you will be miserable at X what did you gain, a lot of unhappiness. Be sure to get a clear statement of costs, closing and maintenance. Historically speaking there are some smokin deals on condos. Just had a sale of a two bedroom beachfront at $70K.

While I don't have a pool, bar or restaurant on my premises, all are as close as I need. My total monthly costs are less than HOA fees at most of the condos for a 1 bedroom unit and I can paint the house pink if I want. That's 4 bedroom house and apartments. I can step out into my garden in my undies if I want also. April 1 the Gekos came out and the Shanti sing day and night. Quail moved off to summer territory. I enjoy all that. I also have lots of closets and storage space in the garage, way more than any condo.

As to investment growth potential. With number of finished condos on the market on Sandy beach at 300 right now and however many more unfinished than will come on the market, it will take some time for condo prices to rebound. While there are still a goodly number of homes on the market, home building, on the other hand has stopped with few waiting to be finished. The upper price range houses in Las Conchas seem to have taken the biggest hit, with homes offered and sold for 2 or 3 million 5 years ago now available for $800K or so. For these reasons, I believe the market for homes will rebound before condos. So hurry, hurry, hurry to Hacienda Nuevo Leon for the buy of a lifetime !!

 

[Encanto]

The Condo Projects are beautiful; check-out Las Conchas and Playa Encanto if you are interested in a Single Family beach front home. Not sure about Las Conchas, but Encanto's HOA fee's are $800/year. Nice sense of community and plenty of elbow room.

 

[Rhino]

Esmeralda on Sandy Beach has far and away the best finishes and floor plans anywhere in the city. The downside is that the project is not finished but the upside of that is that the liens on most of the project have been satisfied and the developers are in conversations with investors to get it going again. Therefore, and considering all the positive things going on in the city make it a great time to take advantage of the poor economic condition and buy into it. If you would care to check it out, let me know in a private message and I would be happy to show you my gorgeous 3 bedroom unit as well as my wrap-around penthouse which is the best ever possible. Neither is for sale at this point, but I plan to market one or the other in the next few weeks.

 

[garyd]

I own at Puerta Privada and can tell you it is like anything else if you can afford the best buy the best. I am not just speaking of the quality of the product but more of the peace of mind of buying from a GREAT developer, one who cares about the people not the money. I also own at another project that allows short term rentals and that is why I left there and bought at Puerta Privada. PP is secure, peaceful but fun. Lots of great owners that have become friends. Believe me one night with rowdy renters and you will wish you had paid more. You get what you pay for in life.

 

[AZ ROB]

Roberto if I had seen your "Compound" 3 years ago I think You may have already headed farter south.. When anyone asks me about a place to purchase I always shoot them your way. I have seen Roberto's casa and it is what he says it is... You could even make a few bucks renting out the apartment to winter visitors. Sometimes in haste we jump into the wrong deals... If you still have it when I am 50 I will purchase it..At todays prices of course.

 

[DeniseAck]

?

OK, I can't follow. "Roberto's compound/casa/hacienda"? What did I miss?

 

[Johnny]

The real question is when was the last time was a Puerta Privada condo sold for current asking prices of $475k? This is the same price the condos were listed back in 2006-07. The developer took back all of the defaults since the buyers had to put 30% cash down when they bought. So, the developers not only bought them back at a 30% discount, but sat on all of that cash for the past four years. I am sure the developers will continue to hold prices at $475k until the market rebounds and they are marketable again. With the quick cash they made, they can afford to do so and still live like kings!

 

[Ladyjeeper]

Denise,
Roberto has a big house with 2 apartments (I think) attached to it right off the beach in the Mirador. It also is completely walled in and has lush vegetation from what I have heard. It's for sale. I've seen pictures and it is beautiful.