The Pros and Cons of Buying a Penthouse Apartment in Mexico

Here’s What You Need to Know About Buying a Penthouse Apartment in Mexico.

As a person interested in buying a penthouse apartment in Mexico as a vacation retreat, you’re probably wondering if it’s the best option? Is it really worth it to buy one? What are the pros and cons? We’re going to explain all of that below so you can make an informed decision!

Let’s start with a little bit about what owning a penthouse apartment means. A penthouse apartment is an apartment that is located on the top floor of a building. It is often very large and luxurious, especially when compared to other apartments in the same building. Penthouses are not just for millionaires, though—you can buy one at many price points in Mexico.

Let’s start by looking at the pros of owning a penthouse in Mexico.

The Pros of buying a Penthouse Apartment in Mexico

There are many great pros to buying a penthouse in Mexico. Here are a few of them:

Increased privacy

As a person interested in buying a penthouse apartment in Mexico as a vacation retreat, you’re probably wondering if its the best option? Is it really worth it to buy one? What are the pros and cons? We’re going to explain all of that below so you can make an informed decision!

You own a private rooftop terrace

The rooftop terrace is an exclusive area that you can use as you wish, and you can turn it into the space that most fits your needs.

Perhaps also plant some beautiful flowers or maybe even a small garden to create a relaxing atmosphere.

You could even create a whole chill-out corner with comfortable lounge chairs and cushions. You could place here a table, chairs and an umbrella if you want to have lunch or dinner outside in the privacy of your own home with family and friends.

You can also make this rooftop terrace the perfect place for sunbathing during those long days in Mexico while enjoying incredible views of the sea or landscape—it’s entirely up to you!

More square footage

The great thing about penthouses is that they’re big. They’re very, very big. Many of us grew up in houses with two stories, a full kitchen and dining area, living room space for the whole family to watch TV together, and an outdoor patio that was perfect for grilling burgers and hot dogs on summer nights.

When we get older and start thinking about buying a home of our own, the idea of downsizing to a smaller apartment can be hard. From square footage alone, it looks like we’ll be making sacrifices.

When you purchase a penthouse apartment in Mexico as your vacation retreat or permanent residence, you don’t have to worry about this because you’ll have all the space you need. You won’t have to make sacrifices when it comes to square footage because penthouses are generally bigger than traditional apartments.

You can easily host dinner parties for your friends or family gatherings during the holidays because everyone will fit comfortably in your penthouse apartment’s open dining room and kitchen areas. If you need extra bedrooms so that everyone can crash with you while they’re visiting from out of town, then no worries—penthouses tend to offer at least three bedrooms apiece!

So there’s more space for people who come over…but what about all your stuff? Penthouses also typically come with large walk-in closets (yes!), which means there’s plenty of storage for all those clothes you want to hang up instead of stuffing into dresser drawers like some kind of animal!

And if by chance one closet isn’t enough to hold everything from your personal wardrobe collection? No problem! Most penthouses also include two walk-in closets that are located in both their main bedroom suite as well as their guest bedroom suite so each occupant has his/her own private place where they can store away their personal belongings without anyone else seeing them!

Penthouses Have a Better Potential Rental Income

The potential rental income of a penthouse can be greater than that of a typical home. With a vacation rental, the higher you are, the more amenities and the better the view, which means you can charge more per night to your guests. Think about it: if your place is on an island, do you want to stay in a penthouse with an infinity pool that has views for miles or do you want to pay less for a beachfront condo?

Penthouses have more square footage than regular apartments or condominiums. You can use this extra space as an extra room for guests or rent out the entire space as one unit versus two or three separate units like in many beach-front condos.

That being said, renting out just one unit versus multiple units will result in fewer bookings overall due to availability issues. But if your goal is to make money on your property when not using it, then renting out just one unit may work best as long as you don’t mind having longer stays of two weeks rather than two nights.

Year-Round Use – Higher Rental Income

Having a penthouse apartment in Mexico allows you to use it all year around.

You can use the apartment for yourself and your family as a vacation retreat on beautiful Mexican beaches. You can rent it out when it is not being used by you or your family and friends, giving you additional income.

It’s easy to rent out a penthouse apartment in Mexico, often for days, weeks or months at a time!

A sense of community because you’ll be surrounded by similar lifestyle owners.

Another pro is that you will be surrounded by other owners who are interested in a similar lifestyle. Unlike a high-rise building, which can have endless types of owners and renters living there, penthouses are generally owned by people who want to be part of a community but still retain some privacy. Many penthouse owners actually live in their properties for anywhere from six months to the entire year. This means you will always have friendly neighbors who enjoy what Mexico has to offer and like to live an active lifestyle.

You can make the rooftop your own oasis.

One of the best parts of owning a penthouse apartment is that you can make the rooftop your own private oasis. Many people decorate their rooftops with furniture, plants, and lights.

You can even use the rooftop to entertain friends and family members privately. Of course, most penthouses are located on roofs—which means that you don’t have to worry about other tenants disturbing you when you’re having a party or any other type of gathering with friends and family. If you want to enjoy your privacy, a penthouse apartment may be exactly what you need.

The Social Lifestyle. Great for Entertaining Friends and Family

As a Penthouse owner, you will have the space to invite more friends and family over for extended stays in your home. This allows for more quality time with people you care about. For those of us who like to entertain, a Penthouse is much better suited for this than a condo. You can use your rooftop terrace as an outdoor dining room or even better yet, build a wet bar on the roof! The extra space you have will allow you to entertain indoors as well.

Less noise from neighbors than in lower apartments

If you love peace and quiet, a penthouse apartment may be right for you. Penthouses are typically the top floors of apartment buildings, and thus they experience less noise from neighbors, street traffic, common areas and surrounding apartments. Depending on how the building is made, there may also be sound barriers between floors to help with this issue. Not all penthouses have pools or hot tubs on their roofs, but those that do will not have noise issues from outdoor pools or hot tubs.

The complex is gated is safe and social.

The condo complex is gated, and there’s a 24-hour guard at the entrance to the development. It’s a safe, family-friendly community where many of the residents live year-round. They get to know each other, as well as their neighbors who are seasonal residents or vacation renters.

“It really feels like a small town,” says one resident of a Penthouse complex in Playa del Carmen. “There are always people getting together for barbecues or birthday parties in one of our common areas.” The man makes it clear that he would not want to live anywhere else in Mexico for this reason alone: it’s so hard to make friends outside of your immediate circle once you’re an adult; he never imagined he would find such strong community spirit when he purchased his penthouse condo in Riviera Maya Mexico.

More fun.

There are some very real benefits to owning a Mexican penthouse, even if it’s only used as a vacation retreat. You’ll have more space to entertain and enjoy with friends and family. You’ll have more space for relaxation and hobbies. You’ll have more space for storage (this is key if you plan on spending most of your time there). A larger living area means more room to stretch out with a book (or magazine, or e-reader), or host an impromptu dinner party.

With so much extra room, you can finally indulge in those leisure activities that don’t necessarily require you to leave your apartment building, like yoga or playing the guitar or learning how to speak Spanish. You can decorate each room according to its purpose: one for sleeping, one for lounging, one for reading, one for working out.

Put away the suitcases!

Some Penthouse can have a lock-off

If you buy a penthouse in Mexico, it can sometimes be a lock-off. A lock-off is where you can actually rent out the main apartment while you are in the lock-off. The beauty of that is if you want to go to your condo and use the bedroom and use the roof deck, but you want some income from that unit coming in, it’s a good way to do it with family members or whoever. What I would say is there are pros and cons for this type of vacation rental property.

Your Penthouse can be set up as a lock-off, which allows for increased rental income when not using the unit yourself.

Elevator access directly to your apartment

If you are staying on the top floor of a building, it’s convenient to have an elevator that brings your groceries and luggage straight up to your apartment. You can let somebody else worry about carrying heavy things upstairs.

Elevator access is especially helpful for people with disabilities or for older people who may not be able to walk as far or carry as much weight as they used to. Staying in an apartment where there is elevator access means you can stay longer and enjoy yourself more without concerning yourself with these issues.

Overall, having the convenience of the elevator available makes it simpler to get things up and down without getting tired or worn out.

Your own Rooftop offers a great way to take advantage of Mexico’s amazing weather.

One of the many benefits of Mexico is its year-round pleasant weather, which you’ll want to take advantage of. That’s where the rooftop comes in! If a condo is the top floor of a building without a rooftop, you’re missing out on an incredible aspect of penthouse life. You’ll have gorgeous views as well as your own personal space that allows you to enjoy every second of it.

It’s not just sunsets and sunrises either: throughout the day and evening you can see people enjoying themselves in different ways across all areas of your city, from the beach to local attractions to rooftops (of other buildings!) like yours. Imagine yourself up there with friends and family—a margarita in one hand, chips and guacamole in another—as the sun dips behind the horizon.

The stars will come out slowly as everyone chats about their adventures for the day. Your children will laugh together about something only they find funny, while your partner relays details about a great game played at their golf tournament earlier that day; all while you think about how lucky you are to be spending this time with them here in paradise

The Cons of buying a Penthouse Apartment in Mexico

Pricey

Something to keep in mind: since penthouse apartments are often the top floor of a building, they can be more expensive than other apartments or houses. A lot of factors go into the final price, such as location and size, but generally speaking it’s common for a penthouse to cost 2-3 times or even more than its corresponding apartment on another floor. It’s also important to consider what amenities the building you want comes with. Is there a pool? How long ago was it built? Be sure to do your research before you buy!

Expensive to maintain and repair

More maintenance and repairs: As with any home, the things you bring into your penthouse are going to require maintenance and possibly repairs. The difference is that in a penthouse, there may be more of these items, such as appliances, electronics and plumbing systems. However, buying new construction penthouses can be a much better option.

More specialized contractors maybe needed: If you need to make a repair on something like the air conditioner in a penthouse—and this applies to regular apartments too—you may need to hire someone who specializes in working on buildings. This could mean calling an elevator technician to get equipment up to your unit or having an electrician run cables through the building for wiring a new addition. It’s all part of the process. However, compared to the USA or other countries Mexico’s labor is far less expensive.

Possible responsibility for shared repairs: In some cases, if there is damage or wear and tear on something that’s part of the building structure (such as doors, lobbies or roofs), you may be responsible for paying for those repairs even though they aren’t technically yours. That’s because many condo associations have rules about who pays what when it comes to such projects.

Summary: You’ll get more privacy, square footage, and views – but it’ll cost you abit more.

If you’re looking for more square footage, can afford the price tag, and desire more privacy, a penthouse apartment could be a great buy for you. However, if your budget is tight or you have other financial priorities (like retirement), do yourself a favor and think twice before splurging on this type of housing.

Find Your Penthouse in Riviera Maya Mexico

The Riviera Maya is one of the most popular areas for Americans to buy a penthouse property. The Riviera Maya is a famous tourist destination, but it’s also a great place to live and buy property for Americans and foreigners.

If you’re looking for a place to buy property in Mexico, our Real Estate agents can help you find your ideal property in Riviera Maya Mexico at no cost (for you the buyer) and at no obligation. Click here to contact our friendly real estate agents now at no obligation or cost.

Find your Dream Home in Mexico

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You are welcome to read more articles about buying property in Mexico. Click the links below:

What’s The Difference Between A Condo Or A Townhouse In Mexico?

Click here to read the Guide to Mexico Law for Buying Property as a foreigner