Belize has been getting a lot of traction in the real estate market, and it’s easy to see why. There are beautiful beaches and jungles to consider — but buying a new home is always going to be a big decision. Whether or not you should buy your second home in Belize is really up to a range of factors, but it may be more in reach than you’d initially think. Here’s what you need to know.
Your cash flow will of course be the biggest factor in whether or not you can get a second house in Belize, but the breadth of opportunities might be greater than you think. Properties in popular tourist towns like San Pedro or buildings in particular styles or on islands can be pricey simply because of logistics and a lack of local materials and specialized tradespeople. But real estate really is affordable in Belize, and the market is growing. Even better, the country is generally considered a tax shelter — meaning there’s not a lot of overhead to worry about when looking for a home. Whether you want a jungle cabana or a seaside property, what you need is probably out there. You just need to find the right agent to guide you.
Along with your income, your age can be a major asset when looking to buy a home in Belize. Out of a desire to bring more foreigners into Belize, the government has created some serious incentives. The Qualified Retired Persons Program only requires you to have $2,000 in income a month and it only requires you to be over the age of 35. That leaves a lot of opportunities for younger retirees and even remote workers who want some more flexibility to travel. The QRP offers a whole range of incentives that include tax exemption and the right to own property in Belize outright.
Owning a retirement home is one thing, but finding the time to actually use it is another. Fortunately, Belize is in reach for most Americans. Flights out of Florida can get you to Belize City in under three hours, and there are regular direct flights to and from dozens of U.S. cities. And with English being the national language, Belize is a great launchpad for wider exploration in the country. And as the infrastructure grows throughout this still-developing nation, a smart investment will continue to bring value into your life.
Questions about buying real estate in Belize? Contact us by email at email@example.com or by WhatsApp at +501 664-1692.