Panama and Costa Rica might get all the publicity, Belize real estate is known is known as one of the easiest countries in Central America for foreign buyers. There are no restrictions on non-citizens getting Belize real estate for sale by owner, low property taxes and no capital gains taxes. Belize operates as a member of the British Commonwealth with English as their primary language. The country’s currency is fixed 2 to 1 to the dollar, giving a measure of stability to the money market.

Belize Real Estate

Many Europeans and North Americans have a dream of living in a place where the air is warm, the water is blue, living is easy, and the rum is cheap. The small country of Belize may or may not live up to your expectations in these regards. Any many of those who take the leap to Belize end up broke, frustrated and unhappy, so thoroughly investigate before you ultimately decide to move to Belize. Expats in Belize are now most clustered in Placencia, San Pedro, near Corozal Town and the Belize City suburbs.

Belize also has one of the most liberal retirement programs in the area, with the Retired Persons Incentive Program enacted in 1999. Under the terms of this program, foreign citizens older than 45 can import their possessions duty free and gain special residence status for as long as they meet a few basic requirements. Here are five questions to answer before you make the move to Belize.

Retire In Belize Real Estate

1. Do I really know what it’s like? – Come to Belize for a long visit before you make a commitment. Get a Belize real estate rental before you ultimately buy.

2. Do I really know what it costs to live in Belize? – Just like most countries, Belize has several costs of living, depending on your lifestyle. Spend some time in Belize on a trial run to see what your actual living expenses will be.

3. Am I willing to always be an outsider? – Most of the expats in Belize are not completely integrated into Belize life, politically, culturally or otherwise.

4. Do I know what precautions to take against crime? – Being a wealthy outside (in the eyes of most Belizeans), you are fair game in all types of rip-offs, scams, robberies and worse. The police mostly do their best, but their best way just might be to take your report after the crime. You will have to proactive to protect yourself and your property.

5. What will happen if I get sink? – Belize has some excellent doctors, dentists and health care professionals, who will treat you at lower costs that you have probably been paying. However, they are stretched thin, and supplies and equipment are sometimes lacking. If you become seriously ill, determine what you will – go home or accent the Belizean standards of care.

When you retire in Belize real estate, the primary stipulations are proof of pension income and the promise to not look for jobs in Belize. If you want to own a business or invest in something, you can do that; you just cannot work for somebody else. While there are no restrictions on foreigners owning Belize real estate beachfront or other land in the country, local experts say that it pays to know some of the local twists.

• Before you can close a sale, you (the buyer) has to pay a transfer tax, otherwise known as the stamp tax, which is mostly about 5% of the value of the property. The good news is that the tax has recently lowered from 15%.

• Just like in any other country, it is important that you have a proper title to the property. It is common practice to hire an attorney to search title history.

• Be extra careful when choosing an agent, as there is no licensing requirement or educational requirement in the country. You can be a taxi driver or bartender one night and selling real estate the next day.

• When it comes to buying condos, it is better that you find one with an owner-owned condo association instead of an outside management company. The biggest problem with condos is the management, or the lack thereof.

Visit Belize Country Now

A growing number of buyers are now buying lots and custom building homes, but it can be a challenging process. It is hard to get anything done in Belize country; building a home requires a lot of time and a lot of supervision.