Belize is a popular destination for people considering buying vacation homes (or homes for their retirement).
A Belize vacation home can serve as getaway for non-resident snowbirds or a permanent resident for retirees taking advantage of the QRP (click here to learn more). A Belize vacation home can also be a smart investment option. Our Belize law firm has served several clients recently, helping them purchase Belize homes and properties which the clients then rented out from overseas. All are happy with how things are working out for them.
One client, unfortunately, was forced by medical expenses to sell her Belize vacation home (located in San Pedro). Even this outcome was not all negative and illustrates a positive point about Belize real estate: because of the low-tax environment in the country, the client was able to sell her investment for a nice gain and easily take those earnings back to Canada with her.
Assuming you are interested in a more long-term investment, Belize is one of the safest bets in the Western Hemisphere. Property appreciation has remained steady, yet you can still find excellent value throughout the countries, even in popular Belize vacation home destinations such as San Pedro and the surrounding Cayes, Corozal, and Placencia (to name a few).
If you want to building your dream vacation home or retirement home, construction costs are very minimal contrasted with costs in the First World. I’ll tackle that a little more in a future blog post. Or learn more about construction standards in Belize by clicking here.
And, of course, there’s the things about Belize that in general make it a great place to spend time: expats aren’t kept at arms-length from the community; they’re welcomed into the community. Contracts and negotiations are conducted in the official language, English, and a fixed exchange rate against the U.S. dollar means stability when you’re setting down your plans. Learn more about why Belize might be right for you by visiting here.
At the end of the day, you’ll want a qualified Belize real estate attorney at your side throughout the process. A Belize real estate lawyer will ensure clear title, fair price, and assist navigation through the bureaucratic processes in the country. Click here to learn more at our Belize Real Estate FAQ page.
