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Important Things To Know Before Buying Property In Belize

Among Belize’s many attractions, there is no more important to potential retirees and expats than the relatively low cost of ownership and housing. Of course, you can spend a lot of money on American-style luxury developments. But you can also buy raw ground at prices not seen in the United States since the Mahogany Bay Property 1960s and find a simple but beautiful rental home near the sea in some areas for less than US$200. In many cases, the closing date is 90 days or less from the day the trial begins. Funk Caye Island is ideal for construction, with about 5,000 cubic meters of sand and a 35-foot area downtown for a helipad.

12,000 liters of rainwater harvesting, given the average monthly rainfall in Corozal, is generally considered suitable for home use. However, extreme drought conditions may require conservation measures even with sufficient harvest capacity. Deep wells provide good backup provision and make watering plants and yards an easy task.

Find all your answers about buying a property in Spain as an American. Finally, if you don’t live on your property in Belize all year round, you should take steps to make sure, even if you’re not there. Having measures in place to prevent squatting, damage or vandalism, as well as theft, will prevent a lot of pain. The Federal Trade Commission had to take action in 2018 to close a major real estate scam in BelizeĀ¹. This scam alone cost clients a terrifying $100 million and spread to multiple real estate developments and lots. While scams on this scale are thankfully rare, being wary is a given.

Remember that the internet makes it much easier to take virtual tours of homes and other properties. By working through a registered agency, you can take one of those tours, ask questions about the property itself, its location, and everything else related to a potential purchase. Maybe you’re planning to retire at some point and move to this beautiful country.

Another pleasant surprise awaits you when property tax discussions arise. You will find that most properties in Belize are valued at an average rate of 1-1.5% of the non-improved value of the property. Several factors will affect the time it takes to close the sale.

The reason is that at some point you want to visit the property. The key is to make sure you know how a particular piece of land is zoned before spending time trying to acquire it. Others may be strictly reserved for one purpose or another. Knowing what can and cannot be done with the land will help limit the scope of the search. Many of us feel that this will definitely be our home “forever” at home. Experience says that even if you’ve been more diligent in all aspects, once you’ve moved into your home, within 6 months, you wish you had done something else.

It offers lush jungles, cool rivers and colorful wildlife. Here you can explore Mayan ruins and try adventurous activities such as cave tubes, ziplining and jungle walks. This is where large tracts of land for agriculture, nutrient-rich soil for gardening and a simple way of life can be found in all aspects. Everything you need to know about buying property in Costa Rica as an American.