Many people these days choose to buy a property in exotic locations either as a holiday home or as part of their retirement plan. When looking for a beachfront property in Belize there are a few things to take into consideration. Whether looking to rent or purchase there is a lot of research that needs to be done before investing.
Buying a villa or condo in Belize has many plus points due to its location and good climate. With Caribbean sea views, easy access and the fact that property values have increased over the past few years it is a very attractive option for many investors. Another benefit is that investors have the same rights in ownership and tenure as nationals which is not always the case in other countries.
With Belize being an English speaking country, this is also a huge plus point when dealing with legalities. If you are planning to take any of your personal effects to your new home, this can be done duty free, which allows for huge savings to be made. Rental and purchase prices are usually in dollars, so this also makes the whole process easier and removes the issue of exchange rate variations.
Many investors will take the option of renting before making a commitment to buy to make sure that they are making the right move. Renting a beachfront home in Belize is possible, but bear in mind that it is fairly expensive with a small villa costing around 2000 dollars per nightly stay. When signing up for a longer rental then better rates may be available depending on the agent and length of tenancy.
Before deciding to take the plunge and invest in your dream home on the beach it is very important to calculate your budget and stick to it. The prices for properties differ greatly depending on location and the standard of the building work. A small condominium will start at approximately 750,000 dollars rising to 3 million plus for more luxurious villas.
The best place to do your research on properties is online, as there are a large number of established firms that deal in overseas real estate. When you have selected a list of properties that interest you, then these companies can be contacted and will be on hand to guide you through the process. Always make time to visit the country and view in person any potential properties to ensure they are as advertised.
When you arrive in Belize to view your new home it is advisable to seek the advice of a reputable real estate lawyer. Many property companies will offer this service but an independent local lawyer is always preferable and in many cases less costly. Laws when buying homes and transferring large amount of money vary depending on your country of origin so this is worth bearing in mind.
One of the most important things that should be done before any contracts are signed is to open a bank account in the country. Any official documents such as life policies and driving licenses should also be checked to ensure they are still valid in Belize. When planning to bring a car into the country it is also worth speaking to your legal adviser to check on procedures and regulations.
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