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possibility of buying property

Hello, I am new here...we have been to Belize on a cruise but are returning next year to look at the possibility of buying property

Canadian Millwright;
Welcome to the forum from a fellow Canuck. I always wonder what the hurry is to buy property. When first arriving and not having had time to make local contacts, chances are you will pay (overpay) the Gringo price and maybe even get stuck with a property that looks different when the season changes. Buying/selling property is not like Canada, it is easy to buy but may take several years to sell if you find out after a few months that is not the piece of paradise that you envisioned.

Most people would recommend that after you decide what part of the country is right for you, if anywhere ultimately, still not buying for at least a year until you become familiar with your surroundings. However, to each his own. Good luck with your research, ask your questions and let me know if/how I can help.

something like 40% of expats decide Belize isnt for them and return north. Best to rent for awhile and get to know the place.  real estate is difficult to sell if you decide to leave or have a heart attack.  Best to source real estate by walking around and asking what is for sale.  what you see online is over priced.

When you come to Belize take time and do your research! I am originally from Belize and my mother and grandparents were also Belizeans. My husband and I just relocated from the U.S. We chose the seaside town of Corozal because it's laid back with friendly people and very inexpensive to live here. COROZAL is only nine miles to the Mexican border and the town of Chetumal with duty free shopping and state of the art medical care! The weather here is Fantastic and less humidity as well. Take a look at the different areas such as San Pedro, Caye Caulker, Placencia, San Ignacio, Corozal, etc.... Belize is a beautiful and mesmerizing country but then I am a little bias! If I can help you just contact me and I will be more than happy to share my knowledge of my Beatiful Belize with you!!!

Travelgirl, I will be in Belize early next year. I could use your hell. I plan to settle in Corozal. Hope to hook up with you. I am coming from Southern California.

Ruth

Hi Ruth ~ I would love to show you around our peaceful town of Corozal! Have you visited Corozal before?

I just left Consejo/Corozal --very nice, friendly, laid back. The properties I bought are in Consejo Shores. We are currently setting up our corp in Belize as well and will be helping folks out to build, as consultants etc. Great area!

Hi. Name is Larry. I own property in Serenity Sands. I need to make contact with a reputable builder. Do you know anyone? Your input would be of great help.

Thanks

Yes, I spent one week there. I passed through earlier this year. I like the town

I agree with post 4 completely but there are realities involved and real estate is of them. The best deal is when an expat dies and heirs up north want to be rid of the property.  You do have to be patient and willing to hang around like an ambulance chaser.

Cruise, smooze, you have to get on land, first, rent and discover Belize first.  It may not even be your cup of tea.  Its not for every one.  It took me 4 years to find the place I love and I am a Canadian and hate winter

I see a lot of people advising others to rent not buy, but does anyone not think the same as me, money paid out in rent is 'dead' money?

You're doing the math really poorly the reason you want to rent for the first year is so you can figure out if you want to stay in Belize or if you want to be in a different part of the country real estate is really difficult to sell in Belize so if you don't like what you bought your home with it for some years it's estimated that something like 40% return back North

The idea that rent money is dead money is an idea that's older than I am but in the case of Belize it's just not true for about a year or so

What if you bought in Corozal and found out you hated the bay, what if you bought in the mountains and just did not like the temp and the dampness at night, what if you bought in the beaches area and did not like wind, bugs etc,   Then you got a house you do not want .  Then what .  You have to decide what area, temp and what you want.  Renting is best. Because you do not know Belize if you do not visit
You have no idea of costs  of any thing etc etc etc as they vary every where

My two cents.....Mexico is cheap and now is a great time to buy in one of the tourist areas--the peso is free falling. There are two markets, gringo pricing and local, I had boots on the ground and was able to find both. Belize--more expensive, quiet not as much infrastructure, no corporations to really speak of---GOOD THING. If you spend some time and TALK to people you will find what you are looking for---and always always always negotiate, there is a lot of land in Belize it just depends on what suits your definition of paradise. I have lots for sale but so do 100 other people, we also build to suit. (that might have been three cents) Belize is a great country--the people are too!

Mexico presents probably double the difficulties in a gringo owning land as compared to Belize things like a ejido landl and and not being able to actually own land near the ocean.

Actually, you can now "own" land near the ocean & ejido really isn't a concern like it used to be, in Mexico, you have a Bank/Real Estate Trust through HSBC or Santander if it is the "restricted zone" and you are the beneficiary of that trust. They cannot just take your property. and it also depends on what type of property you are looking for. Outside the restricted zone real estate transactions are the pretty similar to the US, Fee and Simple Title just as in most countries of the world including the US and Belize.

Some people just got thrown off their property in Tulum by the federales and it was ejido land itis still an issue.  having the land owned by a corporation or a Bank Trust is not the same as owning it yourself in the restricted Zone Gringo cannot actually own land and if you think the corruption in Mexico makes purchasing land the same as in the US or Canada you are very wrong

I have property in Mexico--12 acres--the last thing you would want is ejido land, that is exactly why they were thrown off. The restricted zone is quite small, anywhere else in Mexico you get title to your property and the real estate trusts are also safe. You also have to be street smart and business savvy enough to know how to do business in a foreign environment/country. To think that any Canadian or American or European is just going to waltz down to Mexico or any other South/Central American Country and receive the same protections as you do at homes is just simply and obtuse idea. When you start making money you make yourself a target. They also didn't do their homework, ejidatarios don't actually own the land, the Government of Mexico does. This style of ownership goes back to the Aztecs, it is a form of "ownership" but not the type we as westerners are used to. To an American, ownership means having what is known in real estate circles as "the bundle of rights" (possession, enjoyment, control, exclusion, and disposition). Ownership to them is just a matter of possession. Stay away from Ejido land and you will be fine.

and yet they do waltz down there and think things will go just like back home.  hope you are familiar with squatters rights in Mexico.  another thing to watch are condo sales in places like PDC.  when a developer doesnt pay off the contractor the contractor comes after the new owners.

I thought this was a forum for talking about Belize issues. Why aré we worrying about problems in México?

Aré there many people who live somewhere cold, think they would like to live somewhere hot, but then when they get there, decide they would actually perder to live somewhere cold after all?

Good point

Already covered that issue that's why the advice is to rent remember?

Just a friendly conversation sharing ideas --nothing wrong with that! Yes which is why I chose Belize, Corozal to be exact as a place to invest. PDC was fun for two months--that is about it. Nice place to visit now and again. So yes unless you are well traveled in that region always rent, get the flu, have a bad day --and then see if you still like it. I did all of that which definitely helped me make my decision.

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