You did not state what part of Mexico you were interested in....so I'll just give you the low down on where I have stayed AI....
Playacar Palace in Playa Del Carmen....had a balcony, fairly expensive AI, but was well worth it...was thru an RCI trade.
Club Velas Vallarta in Puerto Vallarta one bedrooms and up have balcony, very few studios have balconies but a few do.....I have gone via RCI trade and also as owner....much cheaper AI as owner or renter of owner.....either way the AI again is well worth it. Kitchen stocked with water, sodas, beer, snacks, etc., daily. Beautiful grounds
Casa Velas in Puerto Vallarta had a balcony on one bedroom, not sure of other units, also had private plunge pool, not a great view but private, total pampering, very quiet and serene resort. Expensive AI but again gourmet and worth it...have gone both as owner and RCI exchange
Occidental First Club Allegro Nuevo Vallarta..had a balcony....on one bedroom...AI inexpensive, but did not compare to the above mentioned resorts. Did this thru RCI exchange...but was quite a few years ago...
Playa Del Sol Costa Sur South Side of PV...one bedroom had balcony also studios I believe..Ai inexpensive and it showed....I have posted a review....I would not suggest here....
Aqua Pacifica at Pacifica Resorts, they have club and golf units, then also Sands which are better and Senior Sands and Master Sands even better then Aqua Penthouse we had the best. AI reasonable and a value for the money. We own unit here.
Royal Villas Mazatlan most rooms have balcony,some bigger than others.. you would want an ocean view room..one bedroom...I think....AI reasonable, food very good....but limited to only a few restaurants but very good food...kitchen is stocked with water , soda and snacks...small, older resort with good service. We own two bedroom here and have also utilized the Penthouse, we do go in low season, so top notch service, in high time might be different as resort is smaller.
We have done many others but they were many years back....did one in Manzanillo also, had a balcony but cannot even remeber name...
I have found the price is usually reflective of the quality of food, service, and resort in and of itself.
If you can swing the very expensive AI of Grand Velas I have heard that is incredible, but we have not tried as yet due to the high AI, but am hoping to in near future....
Good luck!!!