Whether you’re looking to buy the home of your dreams or try to expand your portfolio with a real estate investment, buying a new house is always a risk. And those complications only tend to multiply once you start looking at properties in foreign countries. As a Central American country with beautiful beaches and a consistently tropical climate all year long, Belize would seem like an ideal choice to buy a home. But the truth is even more promising than the elevator pitch would suggest. Here’s what makes Belize such a great choice for real estate investment.
A Familiar Language
English is the national language in Belize — and while that’s an obvious benefit if you’re retiring and don’t want to learn a new language, it can also help make sure the purchasing process is as smooth as possible. As a former British colony, Belize’s property law is based off the United Kingdom’s model, which itself influenced America’s. If you’ve ever been involved in a real estate trade before, chances are you’ll have little trouble navigating the market.
A Varied Real Estate Market
Belize is one of Central America’s smallest nations, but its real estate market is both disproportionately diverse and underpopulated. The Caribbean Sea is home to over 400 cayes, with options ranging from bungalows in resort towns like San Pedro up to surprisingly affordable private islands. That’s not even taking into consideration the mainland. The Placencia Peninsula is a unique geographic region that feels like an island while still being on land, and the Cayo District to the west offers opportunities for homes in verdant jungle. There are even plenty of established ex-pat communities if you’re looking to join other retirees from overseas.
A Generous Tax Shelter
The best thing is that you won’t have to give up much to move to Belize. The Qualified Retired Persons Program is an initiative put in place by the Belizean government that makes it easy for Americans with an income of at least $2,000 a month to move to Belize and not have to pay customs. Combine that with the great exchange rate and the fact that your income from overseas won’t be taxed, and you’re left with some incredibly appealing terms.
Real Estate Agents You Can Trust
There are a lot of reasons to buy real estate in Belize, but none of them invalidate the most basic principle of investment — trusting the opinions of professionals. Hesed Realty LTD is one of the most accomplished real estate agencies in Belize, and we have a generous catalog of listings for you to browse through. Reach out to learn more about our approach to Belize real estate.