Whether you’ve been looking for a vacation property, a place to build your dream home and raise your family, or for a solid real estate investment; Belize is a country that should be high on your list of places to consider. Conveniently located, accessible to new investors, and dominantly English-speaking: Belize is a haven for retirees, investors, and families alike.
When it comes to purchasing and owning real estate in Belize, the process is somewhat similar to the United States. However, there are significant differences you have to be aware of before making a purchase. That’s where the unique experience of Belize Property Partners makes all the difference. Let us help you navigate the process from end-to-end. Here are some facts to consider:
Anyone has the ability to sell Real Estate in the country
Compared to America, realtor licensing is not a requirement for a person to list or sell real property in Belize. For obvious reasons (including a sometimes-confusing legal system), working with the right team of agents makes all the difference.
If you have decided to live in Belize, whomever you decide to work with should be highly experienced in the local real estate field, as well as honest, professional, and diligent. Ask them whether or not they are a fully licensed or certified real estate service provider. This will ensure that, in addition to finding your dream home, you will also enjoy the peace of mind that comes with knowing that you are in good hands.
Foreigners have the same property rights as Belizeans
Even though you are a foreigner, you can own a property in Belize. As a matter of fact, your property rights are protected thru the English Common Law. Ownership is considered a Free Sample Title, which is governed by the British Common Law. The Napoleonic Civil Law does not hold any authority.
In other words, unlike some other countries, there are no restrictions on foreigners owning a piece of land in Belize. The property rights enjoyed by a natural Belizean citizen extend to people of any nationality. In addition to a range of real estate choices, your property rights are equally protected. Thus, living in Belize is a great decision if you are considering investing in real property in Central America.
Title Insurance is not available
In most countries, title insurance is available. But in Belize, there is no title insurance. In recent years, there have been disputes relating to property boundaries and unreliable ownership history, which occurs occasionally. As a result, obtaining a certificate of title takes approximately 6 months after your real estate purchase closes. For this and a host of other reasons, a well-experienced real estate professional that is experienced and capable of doing necessary due diligence on property title is highly recommended.
Real Estate Taxes are Low
Real estate taxes in the country are just a fraction of what other people are paying in places like North America and Canada. For instance, for a condo or a home that cost $290,000 you will pay just $1,000.00 annually in real estate taxes. This is one of the reasons why Belize has become such a popular destination for those looking for real estate investment opportunities and foreign property ownership.
So, what are you waiting for? Belize Property Partners are Belize Real Estate specialists. Let us help you find the real estate investment that best fits your individual needs. Our diverse team of real estate, law, and investment professionals can guide you each step of the way.