Sunday, January 22, 2012
Dear Reader,
Ronan outlined the pros and cons of developer finance on Friday. While it doesn't suit every buyer, developer finance is often the only option if you don't have a lot of savings or a poor credit history. And it makes sense to take advantage of developer finance if the interest rate is lower than the interest rate you're getting on your savings or investments.
Developer finance is easy to get. You don't need a medical exam or credit checks. There's no age limit or mountain of paperwork to fill in.
Today's three deals are very different from each other. But they share one feature: the option of developer finance.
Costa Rica, $65,028, 35% down, Interest-Free Finance for Two Years
This place is rich in nature and wildlife...
There's been little development of the real estate or tourism market here. It's off the mainstream radar. It's hard to understand why. It's easy to get to. It's got a spectacular coastline, rich in national parks and gorgeous beaches. It's got serious potential.
Forgotten for decades, this part of Costa Rica is starting to get the attention it deserves. It's finally opening up to tourism and business.
For now, it's highly affordable. Take a private community that's less than 2 hours from San Jose (and world-class hospitals, shopping malls, restaurants and cafes) on a good paved road. It's only 30 minutes to the white sand beaches on Costa Rica's Caribbean coast...where you can swim, snorkel, dive and sport fish.
The community's 1300-feet elevation gives you fresh ocean breezes, and ocean views from some lots. Nature surrounds you. The community's 640 acres include rainforest, rivers, waterfalls, and wildlife. You'll see bright macaws, giant tropical butterflies, monkeys and sloths.
Grand View started selling lots in 2007. Today, it's an established development, with roads, electricity, water, Direct TV, cell and Internet. Thirteen homes are complete or under construction. It's got a social area, complete with infinity pool and barbeque. There are on-site stables for those who want to keep or ride horses.
The first three phases sold out in less than 4 years. Lots in phase four, launched in 2011, start at $65,028 for 1.34 acres.
The Deal: With the interest-free financing, you pay 35% down, and spread the rest over 24 months. For the $65,028 lot, that means you pay $22,760 down and $1762 a month for 24 months.
The developer also offers extended finance. You'll make a bigger down payment, and you'll pay interest. But you can spread the remainder of the purchase price over a longer period of up to 10 years.
Contact the developer here for details of this finance offer.
Brazil, $55,748, 30% down, Interest-Free Finance for Twelve Months
Fortaleza is Brazil's top domestic tourist destination. You see, Brazilians love a good beach. And the coastline around Fortaleza is home to some of the best beaches in Brazil.
Drive thirty minutes outside Fortaleza, and you'll come to the beach below. It's a carpet of soft white sand, sprinkled with palm trees. It's popular with Scandinavian kite surfers, and well-heeled Brazilian families who own large vacation homes here.
With interest-free finance, you can own next to this stunning beach
There's a little beach village, too. It's chic, with nice restaurants, boutique hotels, and kite surfing schools. It's a great place to relax and unwind, sipping a cool drink in one of the rustic beach bars.
This place is on the move. A new five-star resort on the edge of the village raised the bar. New upscale communities are coming. The price of beachfront land has risen sharply in recent years, which makes this deal even more attractive. Beachfront land now costs an average of 600 reals a meter. But here, you can buy lots from just 225 reals per meter.
There's no pre-construction risk. The gated entrance, roads, utilities, swimming pool and tennis courts are finished. Many of the current owners have built large luxury homes.
The community sits right next to the beach. A couple of minutes stroll from your front door, and you're on the sand.
The Deal: Lots cost 100,000 reals ($55,748). Pay 30,000 reals ($16,724) down and 11 monthly payments of 6,363 reals ($3,547)...and then the lot is yours. Only 2 lots remain with the finance offer.
Contact the real estate agent here to get more details.
Mexico, $182,000, from $995 a Month
It was the top deal for Pathfinder readers in 2011. It's easy to see why.
Just take a look at the beaches in this location for starters. They're hard to beat:
This isn't a remote outpost. It's a 90 minute drive on a modern highway from a major international airport. The international airport offers hundreds of direct flights to North America, many with budget airlines.
So it's easy to get here. Not just for you, but also for friends and family who'll want to visit...and for renters. It's already popular with upmarket travelers. And the government wants to triple the number of tourists to this coastal hot spot.
It's chic here. You can enjoy yoga retreats and soothing spa treatments. You can chill out on secluded beaches or snorkel over the huge coral reef offshore. You can explore Mayan temples, or watch baby sea turtles shuffle their way to the sea under a moonlit sky. You can sip an organic coffee or savor a gourmet meal.
You're buying in a luxury resort with this deal. It's stacked with amenities. On one side of the resort, the crystalline, turquoise Caribbean Sea laps powder sand beaches. A 27-hole signature golf course and clubhouse lies on the other side of the resort. In between, you'll find swimming pools, restaurants, cafes, bars, a gym, and a spa.
The Deal: These homes echo the style of the million-dollar houses scattered around the golf course. Yet pricing in this community starts at only $182,000 for a luxury condo.
And developer finance means you can spread your payments, paying as little as $995 a month to own here. The developer will work with you to find the best mix of down payments and payment terms to suit your budget.
Contact the developer here for a full information pack.
That's three deals, with different style and amenities, that all come with developer finance. They make buying property overseas more affordable. All three deals have limited availability, so contact the real estate agent or developer today for an information package, before it's too late.
Margaret Summerfield
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Posted Under:
mexico, brazil, developer financing
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