With the emergence of Tulum as a strong Real Estate Market Americans and foreigners more than ever are looking to own their piece of paradise in Tulum.
The strength of the market allows the emergence of creative ways to buy and own a Condo in Tulum.
A new model for Americans and foreigners to buy a condo has emerged called Rent-to-Own or also known as Rent-to-Buy.
What is Rent-to-Own in Tulum Real Estate?
It involves a downpayment of 60% (or more) of the purchase price on your Tulum condo. With the 40% (or less) to be paid off by the short-term renting of your Tulum condo on the vacation rental market.
What is an example of Rent-to-Own in Tulum?
An example is with some of our buyers who bought a Kiin Tulum Condo with their 60/40 promotion.
This Kiin Tulum Condos condo has a 60/40 deal on some of their units. With an initial 60% downpayment the remaining 40% you owe is paid off through vacation renting your condo over time.
What’s the advantage of Rent-to-Own?
The advantage of buying a rent-to-own condo in Tulum is you have a different way to finance the ownership of your condo. Apart from the inital downpayment, the condo pays for itself.
Another advantage is you get more for less from your budget.
You can buy a bigger and more spacious condo. Because you only need to cover the inital payment of 60%. With the other 40% being paid off by your condo.
What’s the disadvantages of Rent-to-Own?
The downside can be useage. If you are wanting a condo as vacation home that you can use frequently, then this option is probably not for you.
To make sure the remaining 40% is to be paid off by itself. Your condo is vacation rented the majority of the time.
Depending upon the agreed upon terms, you maybe limited for your own personally use the condo until it’s fully paid off.
In summary:
If you are want to maximize on what you can buy from your budget. And if you want to beautiful Tulum condo for yourself and potentally use as a cash-flowing income-generating vacation rental, then Rent-to-Own is a good deal for you.
However these rent-to-own deals for properties in Tulum are not common. But you can ask our real estate agents in Tulum who have access to these deals.
Click here to contact a real estate agent in Tulum who can help you find a rent-to-own deals in Tulum Mexico or click green live chat icon below to chat with an qualified agent now.
