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May 30, 2024. by denidimchev@webohub.com +. The Belize real estate market continues to be hot. Prices have trended up in the past 10 years, and properties close to the waterfront or the inland tourist centers continue to be excellent investments. Belize is a great place to live.
- Placencia
Monkey River Village is not far away from Placencia Village...
- Denidimchev@Webohub.Com, Author at Belizehub
Belize, San Ignacio
- Placencia
- Private Developments vs. Local Living
- House Lot vs. Acreage
- Nature Reserves
- Crown Reserves
- Road Reserves
- Maya Ruins
- Scams
- Taxes
- Property Title
- Financing Options
Some people want the familiarity, convenience, and community of a residential subdivision like Carmelita Gardens in the Cayo district. Others find the idea of living in aplanned community claustrophobic. I’m of mixed opinion. To have rules forced upon me at home when I’m not breaking any law goes against my feeling that my home is my castle. Howeve...
Outside of towns, it’s hard to find lots smaller than 1/4 of an acre (1,000 square meters), though some older lots can be as small as 1/8 of an acre (500 square meters). In towns, these lots can often be picked up starting at US$7,500 (for less desirable ones) and outside towns starting at US$3,500. The cheapest lots will probably have few or no se...
Approximately 40% of Belize’s landmass is aprotected nature reserve. In the past, politicians sold land inside nature reserves… often without telling the new buyers about the environmental restrictions attached tothem, which can make the cost of construction prohibitive. This is one reason you always need to conduct afull title search.
The 66 feet of land closest to any major body of water in Belize is designated as “Queen’s Land.” It’s public and does not belong to you, even if it’s right in front of your house. Anyone can walk on it, though they can’t legally walk over your property toget there. It’s illegal to build permanent structures on Queen’s Land, but you can use it non-...
Belize road reserves are often legally much wider than the narrow paved section you see and drive on. Just because your wall is 10 feet from the edge of the road doesn’t mean your fence or wall (or house) isn’t on public property. This happened to my neighbor a few years back… He didn’t survey the actual boundaries before he bought. He assumed that...
Belize is littered with ancient Maya ruins and unexcavated temples. Many small hills around the countryside are actually earth-covered Maya monuments. A major find while digging foundations could delay your build until the department takes the time to inspect your dig, as happened tome once. Be aware that it’s illegal to keep artifacts you find dur...
While it’s becoming less common, land scams still exist in Belize. Foolhardy investors can and will lose their investment if they don’t do their due diligence and find areputable lawyer or land consultant. These are the most common scams: 1. “Foreigners can’t own land.” This one has been doing the rounds since before I arrived in Belize and has nev...
Unless you live in a high-end area of Belize City, San Pedro, or Placencia, property taxes are inexpensive. Most of my friends who don’t live in a town pay less than US$15 per year for property tax. The government tax on the transfer of land is 8% after the first US$10,000. There is no capital gains or inheritance tax in Belize. Of course, the serv...
Common Law is the legal system in Belize, so solid title is available. Property can be held in your own name or through a foreign or local company or trust. No restrictions are posed on foreigners for owning land in Belize.
Most U.S. banks won’t accept foreign physical assets as collateral for financing. If you don’t have the full cash price of your overseas dream home, you have afew options. Mortgages are available in Belize through local and offshore banks. Until recently you could only hope for a 70% LTV from Belizean banks, with the best interest rates being 7% to...
- Con Murphy
Option 1: Beach Condo. To state the obvious, a beach condo puts you right on the beach, which is almost always a plus in real estate investment. Keep in mind that, while small, Belize has a long mainland coast and cayes offshore, meaning lots of beach choices. That said, not all beaches are created equal….
May 6, 2024 · Generally, buying Belize beachfront homes for sale will be more expensive than purchasing property in other areas due to greater demand. As of June 2023, prices for homes in Belize for sale and listed on Realtor.com ranged from $15,000 for a small house to $4.95 million for a luxury 8-bedroom mansion.
Five essential steps to purchasing property in Belize. 1. Do your research. Buying property in Belize could be one of your most significant investments. Hence, it's crucial to research the property market – its past trends, forecasts, and hotspots. This is the first step in deciding where to invest in real estate. 2.
Oct 18, 2021 · A 10% down payment on residential real estate is the standard. You can expect to pay a little under 5% of the purchase price in taxes. New residential properties come with an additional service tax of 12.5%, and there are also the services of a lawyer to consider. All told, a thorough buyer can expect to pay anywhere between 7% and 20% of their ...
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Jul 29, 2024 · Buying a home in Belize offers an exciting opportunity, but it requires careful consideration. This post covers the top five key factors for expats: establishing clear title, assessing construction quality, ensuring the home meets your needs, choosing the right location, and budgeting for all associated costs. Drawing on two decades of experience in home building and real estate, this guide ...
