In this article we look at real estate in Belize for sale. We will explore some factors you may want to consider to see if Belize makes sense as a repositioning strategy for your real estate portfolio.
Real estate markets in the US have changed dramatically over the last few years. With limited domestic options for reinvestment, many are looking to international markets. Real estate in Belize for sale – is this a viable reinvestment option? Let’s take a look at some pros and cons of this market:
First, why Belize? Well, why not? With gorgeous beach front and private islands, Belize offers amazing views, great weather and cheap rum who wouldn’t want to live here?
While most people may opt to live by the ocean, properties inland such as ranches, citrus groves, and raw land can provide just as good a location to live or to start a small business. Also, inland properties assure better waste management and accessibility to utilities. (Keep in mind, that energy costs are much higher in Belize because of more primitive infrastructure and because basic resources in Belize are less efficient than first-world countries.)
If it’s the blue water and sandy beach that you desire, check out Hopkins/Sittee Point or Sarteneja, along the southern coast. But, you may want to stay away from Placencia Peninsula. The consensus is that the bubble has already burst in this beautiful and remote area.
Ambergris Caye is the most popular, but most expensive, place to live for expats while the Remote Cayes offer over 200+ private islands. But beware of hurricanes!
Indeed, much of the disadvantages to investing in Belize stem from the devastation brought on by hurricanes. Locals say that it is not necessarily the wind, but the 6 foot tidal surges that destroy properties and businesses. While, rebuilding costs are pretty inexpensive; you need to be sure to hire good supervisors that live in the country that can pay workers directly.
In addition, realestate in Belize for sale comes with the same general hassles whenever investing out of the United States. However, most business and government transactions are handled in English and currency is traded in dollars – much to an American’s advantage. While the government remains stable (democratic elections are held every four years); title insurance is available for those concerned with sudden changes in the political landscape.
International real estate options continue to be a consideration as people explore their real estate strategies. Is Belize the right strategy for you? It could be, but it is even more important to do your homework and consider these investments with your eyes wide open. Visiting the country is a good first step. So, pack up that beach towel and don’t forget the sunscreen!