Sotavento Residences

by JBinCT, Wednesday, April 13, 2011, 13:22 (3883 days ago) @ Ann and Chris

I have not purchased a unit but upon my recommendation a family member has. I think the location is outstanding, the price/value outstanding and the sponsor/developer outstanding. In a previous venture a few years ago I researched quite a few projects and developers along the pacific coast of Mexico, including Cabo, so I think I have a pretty good idea of what to look for, good and bad. The Sotavento Residences passed all my 'tests' with flying colors.

Having said all that I will tell you what I told my relative and this applies to any vacation/overseas RE purchase, not just the Sotavento. You are probably aware of all these but some others may not be:
1) before you buy make sure you really, really like the area. Owning a great home in a place you don't particularly like is not a good idea.
2) do not buy with any expectation of capital gains or flipping.
3) do not buy with any expectation of rental income to offset expenses. May happen but easiest times to rent are probably the same times you want to use. Nothing worse than having others use your place when you want to use it, to pay for your ability to use when you really don't want to.
4) double the projected HO dues and make sure you can live with that figure. Have yet to see a projected HO fee come in less than expected. Have seen many come in higher, sometimes much higher.


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