Posted: Monday, February 1, 2021. 1:35 pm CST.
Paid Contribution: Belize has become a popular destination for ex-pats from North America. Many are attracted by the temperate climate, the beautiful scenery, and the warm local people. However, prospective home buyers often express concern about buying property here.
This is understandable given the difficulties in some of the other countries in the region. But what investors need to understand is that Belize is very different from, for example, Mexico or Costa Rica.
In Belize, foreigners can legally buy a property with no penalties or limitations, just like the residents. They can also sell or rent real estate here just like the locals. Additionally, because English is the official language, all documents and transactions are easily understood by prospective buyers.
Finally, as there are no capital gains taxes in Belize and property taxes are quite low, buying property here is even more attractive.
The procedure for buying real estate in Belize is very similar to how it works in the United States or Canada, as well. However, for peace of mind, it is recommended that foreigners work with reputable local firms. There have been instances of title fraud, for example. For this reason, it’s best to hire professionals who have experience in Belize.
Not only can your local real estate professionals guide you to appropriate properties, but they can also facilitate title searches and make sure you deal with reputable financing companies.
One thing to be aware of is that foreign investors don’t need to pay cash for the entire sale – they can take advantage of financing options. Typically, this would be a loan from a local bank. However, given the comparatively low cost of housing in Belize, it’s possible that an American or Canadian investor will not have to take out much of a loan at all! This is particularly true for retirees and investors who choose to buy a home in Carmelita Gardens.
This unique community located on the banks of the serene Belize River focuses on fostering a strong sense of community and preserving nature through its use of modern off-the-grid technology. Here ex-pats find themselves enjoying a slower pace of life while still enjoying all the advantages of modern technology. They can eat locally grown organic produce, spend time developing their artistic skills and take part in community activities with like-minded friends.
Carmelita Gardens is one of the best places to live in Belize and is definitely a safe place to buy property, as so many others can attest to. To see for yourself, why not arrange a tour? Once you have visited the property, you will feel assured that you can safely buy property here that will provide a lifetime of value and enjoyment.
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