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February 5, 2020

Dreaming of Belize Retirement? 5 Important Factors You Need to Know

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belize retirement

Posted: Wednesday, February 5, 2020. 8:21 am CST.

By BBN Staff: It’s easier than you think—and the government of Belize is delighted to help you every step of the way by offering perks no other Central American country can!

A hammock hung between two palm trees on a sandy beach as waves wash up on the shore. It’s your dream of retirement heaven, right? But that dream bubble can burst when you check out the cost of retiring to Central America where, like Goldilocks’ search for the right bear bed, can leave you scratching your head. One nation is too pricey. Another isn’t safe. A third is so far from home, getting back for visits is impossible.

May we introduce you to Belize—the friendly country located just a few hours by plane from the U.S.? Everyone in Belize speaks English, accepts U.S. dollars and there are so many ex-pats already in residence, you’ll join a community almost immediately. These are a few reasons to come down and check us out.

1. Qualify for a visa by choosing a residency option. There are two of them, each of which makes fleeing south to retire a viable option. You can obtain permanent residency status or apply for Belize’s Qualified Retirement Persons (QRP) program. Both are filled with perks. Need help understanding the nuances of each one? Visit https://www.belizehighcommission.com/belize-residency.htm and you will.

2. Belize is affordable. According to numerous statistical services, you can live in Belize for around one-third of the amount retired northerners spend back home, and you won’t have to compromise your lifestyle. Depending upon where you settle down and whether you decide to buy or rent, you can earmark around $1500 monthly to cover your living expenses as long as you don’t go crazy on extravagances.

3. Home sweet home (on a shoestring). If you want to rent a place until you figure out where in Belize to buy, you’ll spend around 75-percent less on that rent than you would in the U.S. Multi-bedroom units in Belize City average $600 while hot spots like Ambergris Caye and Placencia could drive that rent bill up to $1,500. Some retirees purchase their abodes upon retirement rather than renting because real estate in prime locations is available throughout Belize and the number of tax breaks they get from the government is a huge incentive to do just that.

4. Healthcare in Belize comes with options. Unlike the U.S. where healthcare entities, services, and insurances are so daunting, they require a translator, Belize offers a simpler public and private health care menu. Both cost less than what you paid in the U.S. Given the amount of money you save moving to Belize, access to private clinics, while limited, are available to ex-pats, and plenty of expats choose to return home for treatments, surgeries and other specialized care, given that ultra-short plane ride.

5. Find the perfect home. As mentioned earlier, the place you choose for your retirement will impact your budget most of all. Fortunately, realtors like Boris Mannsfeld & Associates on the Placencia peninsula stand ready to help you find what you seek. According to Mannsfeld staffers, expats are often shocked and delighted to find that they can live on a beach, own a home with modern infrastructure and meet like-minded neighbors for less money than they imagine.

Your retirement is too important to be left to chance, so why not pick the nation eager to welcome expats by giving you the retirement dream you once thought impossible? Mannsfeld stands ready to hand you the keys to your kingdom. When will you come down to discover which front door lock they fit?

 

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