Everything You Need To Know About Buying Property In Belize

When you think of traveling, one idea that may come to mind is white sandy beaches and turquoise-blue waters. Chances are, if you have vacationed in Belize, then the thought crossed your mind about moving or retiring there to enjoy all that the country has to offer full-time. 

Is Belize ex-pat friendly?

As a former British colony, Belize is an English-speaking country. The lack of a language barrier and the notoriously friendly people of Belize make this little country very friendly and accepting of ex-pats from North America. Some may call Belize a "well-loved retirement haven".  

Can foreigners buy property in Belize?

While many countries limit or even forbid property ownership by foreigners, Belize is not one of them. If you spot condos for sale in San Pedro or a beachfront home along the coast, the Belizean government will permit you to buy it as a primary residence, second home, or even a rental property. In fact, the process is made even easier by the fact that Belize was once a British colony because they follow similar real estate laws and procedures as the United States, Canada, and the United Kingdom.   

As an added benefit, Belize allows foreigners to apply for a mortgage, whereas many countries require complete purchases made with upfront cash.

Will a Belize beachfront condo have sky-high property taxes?

Unlike homes in North America, the property taxes in Belize are low. Experts estimate you will spend less than a thousand dollars annually for a $250,000 house. 

Is Belize affordable?

An ex-pat can live quite comfortably in a beachfront condo in Belize. While oceanfront living is never cheap, it is dramatically different than prices in the United States and Canada. Many ex-pats report living for as little as $1500 a month, making Belize an extremely affordable place to live. 

What type of visa do I need to stay in Belize?

If you can't bear to leave sunny Belize, you can apply for a tourist card, which is essentially an extension of your existing vacation visa. The tourist card allows you to stay, but you are not allowed to work, even remotely. There are also programs for qualified retired people, retirees looking to move that have at least $24,000 in a local bank, and digital nomads seeking permanent residency.  Each program is fairly easy to apply for and can be completed in less than one year.

If you want to keep your toes permanently planted in Belize's white sand, buying property and relocating isn't as hard as you'd think.  

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Understanding Real Estate Challenges When you are faced with a down market, there are a lot of things that can run through your mind as a homeowner. If you had to sell, would you be able to make your money back? What will you do if you have to sell your property at a loss? Do you think you are ready to buy a new home? Although there are a lot of things that are important to think about, the fact of the matter is that understanding real estate challenges is instrumental to making money with your property. From moving forward with new ideas about real estate to working with the right professionals, it pays to read up on the market. Learn more today!