Saturday, January 17, 2009

Inexpensive house in Melaque - Yes possible

I got tired of looking at lots on the beach side of the highway in Melaque with prices of $40k and up and always listed in US dollars. The Realtors here are out of control and hopefully the current economy will put a plug in them. That's the main reason we bought our lots in Pinal Villa.

So Ron was down for a few weeks and a waiter we've known for a long time said he knew a place for about $450,000 pesos. After a few meetings with the owners the price went down to $370,000 which is about $28k US. Now this place is very Mexican but well built and has water, sewer, electric, walls around, lot size 10x20 and two rooms that with just a little work would be livable (maybe no work says Ron). I'm sure with $10k he could make this place very nice and another $10-15 could put on a second story. Ron should be down from Vallarta in about a week to finalize.

This place is still available.  Ron's wife didn't like it so they bought a couple of lots on the east side as of (3/15/2010)


Steve Cotton said...

Scott -- I have been shocked at the listed prices of houses in Melaque. I am set for my first 6 months, but I am seriously looking for something more permanent. As of today, only one realtor, out of the 10 I have talked with, has been helpful. I just assumed they must all be raking in the dough that they did not have time to talk about a sale. I guess I will continue doing what you have done -- talk to locals, ignore the salesmen.

sparks_mex said...

Exactly Steve .... rent and look around anywhere in Mexico is the answer. Ron really just wants a crash pad for when he comes down fishing so with a little work on this house he should be set.

Two totally different markets between the locals and the realtors. Remember that 80% of the area is still ejido. Normalized property will jump the price significantly

Calypso said...

I would be very nervous about buying Ejido property - possession is 9/10ths of the law - except in Mexico ;-0

The construction of the house finished in April 2011 and I'm pretty much settled in. As of March 2014 I'm in preparation for rain mode for this coming summer. That includes sealing and painting things and dealing with drainage issues from last year.

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