Old casonas for sale in downtown Valladolid are highly sought after by investors, as they normally have an enviable location, offer very interesting architectural details, and some are accompanied by a big plot of land.
In Valladolid these casonas are highly sought after for business, as they are spacious, beautiful and are, by themselves, a great attraction. However, there are three things you should know about old colonial houses in Valladolid.
1. The location and historical value of a property come with a price
Put simply: a cheap colonial house with a central location does not exist. But if you do find it, our advice is to not haggle and just purchase it immediately.
…Of course, not without first carefully reviewing the property, its documentation, and the state of construction to ensure that it is in good condition, and able to be remodeled according to your project.
And it does not hurt to tell you that, just for these details, it is convenient to have a local certified real estate agent by your side.
Investing safely should be your goal, do not forget it! So, try not to get carried away for the moment and be careful in the buying process. But definitely, if you find a cheap casona for sale do not think twice and buy it! Then run to buy a lottery ticket, because that will be your lucky day ; )
However, we want to share a few nuggets of information about the current prices of colonial casonas, so that you do your numbers and prepare to invest.
As an example, here are two casonas for sale currently available on the same street.
In the comparison you can see the difference in meters of construction, land and price, but the most important thing here is the location. Even when both properties are located on the same street, the house for sale for $1,900,000 pesos is located 7 and a half blocks away from downtown, while the $10,000,000 pesos house for sale is just a few steps from the main square of Valladolid.
Depending on the business or project you have in mind, evaluate if the determining factor for your investment is the location, the size of the property or the value per square meter of the property.
2. These old casonas are a project
You found the house for sale you wanted! Perfect.
Now you need to take care of the remodeling or maintenance.
If we say that a casona is a project, is because it requires a lot of work to keep it in good condition.
For example, back in the day a mixture of soil and sascab (a local material) was used as a mortar to join the rocks in a construction. Even when it’s a solid and strong mix, at the end of the day it is still soil, and some trees in the region find it irresistible, which is why it is common to see trees growing on the roofs of some old houses.
In addition, in the rainy season this material gets sodden, which leads to the appearance of moisture stains on walls and ceilings, to the finish of the walls bulging or peeling off, etc. You should fix these issues as soon as possible to avoid structural damage to the property.
But even an old house which is not in a great condition has the potential to become your dream home. We have seen before and after photos of some colonial casonas in Valladolid, and it is a total transformation. So, don’t be discouraged by the current state of a property … You can do wonders with it!
Some properties have been abandoned for a long time, so practically you must renovate completely: install plumbing, electricity, finishes, etc. And of course, all these expenses are in addition to the cost you paid for the property. Which brings us to the next point…
3. If you are looking for a renovated and ready-to-use property, prepare the checkbook
We don’t want to discourage you. You definitely can find Valladolid colonial homes in great condition and renovated… But they are expensive.
At the beginning of the article we mentioned that the location and historical value of a property come with a price, but if you also want something already remodeled, add a few million pesos more to your budget.
If you are one of those who believe that time is money, then in the end that extra cost is a good investment, since it will save you from coordinating renovations, paying for labor and materials, solving construction problems, etc.
Acquiring an already remodeled property allows you to start up your business faster and start generating income as soon as possible.
As an example here’s this colonial house for sale in the center of Valladolid. This property offers 1042 m2 of land, 578 m2 of construction, and is located on a main avenue.
The colonial construction is in perfect condition, with some modern additions in te back section, including a kitchen, a covered outdoor dining room, a private study with a terrace, and 6 hotel rooms, plus a pool. Everything in an impeccable condition and ready to continue operating as a hotel or vacation rental. It is for sale furnished and equipped.
Now you know what to expect if you are looking for a colonial house for sale in Valladolid.
If you have investment plans in Valladolid, contact us. We have these and other options available for you!
Casas en Valladolid, the most experienced real estate agency in Valladolid Yucatan. Talk to us if you are looking for professional attention and security.