Since the early days in Baja, US Citizens have been buying residential Beach Front and Ocean View lots , building their dream Beach House, and for an increasing number, their retirement homes. Many of the older and more stable communities in Playas de Rosarito such as Las Gaviotas , Real Del Mar , San Antonio Del Mar and Mission Viejo and Punta Piedra all started out selling lots, most of which had very good building restrictions in place.
These Baja communities have established a reputation as a great place to live or buy a home. Over the last few years, with the increase in demand along the coast, many Americans had given up the idea of building and went with new condo construction. However, once again retirees are looking at their future and they are opting to cash in now for the perfect location and buying a lot while taking advantage of the current pricing advantage here in Baja.
In the 3 to 5 years as the real estate markets return to normal these lucky buyers will already have their future in place at today’s favorable prices. Currently to build a home in Baja would cost on average 45.00 to 70.00 per square foot for quality construction. Timing is typically between six and nine months from start to finish. Octavio Serrano of OCA a well known architect says that while the idea of building can be scary for many Americans, that the over all cost savings far out ways any head aches the client my have. And in the end they all say they would do it all over again. Permitting is much like the US where you first need to obtain an official topographic drawing, a building permit and then finally a completed work report. All of these can be handled by your architect.
Working with a good architect who is not only reputable, but also has Vision beyond what a clients needs are for today is KEY says Kathy Katz, owner of Baja Real Estate Group . Katz says that in many of these communities such as Las Gaviotas which started out offering lots Americans built there dream homes over the years, and when they came up for re-sale she always knew which ones would re sale the fastest strictly due to the architecture styling, she adds that you can change the color of the walls and tile, but the architecture stays with the home for ever. Just recently she has seen an increase in quality Baja lots coming on to the market, where in the past they were either not available, or cost prohibitive.
For example a 2200 sq ft lot in Real Del Mar a Golf Course Community that once sold for 75-80 thousand, is listed today for $43,000. An ocean front 7500 sq ft lot in Punta Piedra a gated community is now available for $450,000, where once prices for the same size lot were approaching 1 million.
Can you imagine having your own lap pool with the waves crashing at you front door says Katz. In this market buyers are not only looking at cost of living and a life style, but they are looking at the values in the market, making this a time to act.