The beauty and diversity of the landscape speak for themselves, as do the brilliant testimonies of Americans and Europeans who moved to Belize to retire. While Belize is quickly attracting the attention of large investors, real estate here is still cheaper than Mahogany Bay Property average. You can get a big, beautiful home for a fraction of the price in the United States, and that goes for both planned developments and investments in undeveloped land. Unlike other countries, you don’t have to be a citizen to buy property in Belize.
But again, work through your plan diligently, to avoid changes and regrets afterwards as much as possible. The delivery time for an average of 1400 square feet at home will be between 9 and 12 months. Still, the storms in that part of the world seem to get worse every year, so it’s highly recommended to buy insurance.
So be careful where exactly you are and what kind of access to the road you have. It’s a small island now and eventually, if you stick with it long enough, growth will catch up. But depending on what you want to do and what your plans are, you’ll definitely want to consider the location, as different locations present different challenges, right?
As an individual alien, you are allowed to purchase property that does not exceed three-quarters of an acre. Coastal land and land within 25 miles of international borders is limited, but a purchase may be allowed if it gets approval from the Tourism Institute and construction begins within 36 months. In Cyprus, EU citizens can buy an apartment or a villa, and more than one piece of land if they wish. Non-Europeans can buy an apartment or a villa, if the villa is located on a plot of no more than 1 hectare. There are few restrictions on foreign property ownership in Canada, apart from land belonging to the British crown. Some of this land may be offered for sale, but it will not be fully owned.
This may not be the case in the United States or Canada, where many wooden houses, log cabins, and many different building materials are used. Some of the newer buildings, especially if built by or for expats, use ducts or forced air systems for the entire home. However, the vast majority of air conditioning systems in Belize are “split units.” Split units are used for single rooms instead of a whole house. So, for example, if you own a 3-bedroom house, chances are each bedroom has its own air conditioning. This would be similar to old-fashioned window unit air conditioners, except that they are usually installed at a higher level in the room and are not attached to the window, so it still has its window use.
As we have seen over the past year, hurricanes are a major concern in the Belize region. Since 1930, there have been 16 hurricanes in Belize, eight of which are large. Most storms hit Belize in the months of September and October, but you’re less likely to see the effects of a hurricane in Belize than in certain regions of the United States. According to Belize Magazine, the chance of a hurricane making landfall in Belize in a given year is only 17 percent, while in Florida the chance is 68 percent. And if you want to make a little extra money, you can always rent out part of your home on Airbnb.
Road reserves refer to the land that lies on either side of a public road. This also applies to the land that has been reserved to widen the road at some point. If you plan to develop a property and build a fence or wall around it, make sure you know where the road reservation ends and your ownership line begins. Otherwise, the day could come when your fence should fall as part of adding more lanes to the road. Most of the existing homes are also built on some of the really nice lots that are no longer available. Most current homeowners know the value of positioning their homes to make the most of the wind and many have beautiful terraces or screened porches.