Buying Land In Belize: Complete Guide For Expats

Numerous palm trees, fruit trees and beautiful gardens have already been planted to aesthetically match future construction sites. Funk Caye is home to some of the quality private islands for developments in the region. Filled with tropical fish and lobster, the water here surrounds the 2.89-acre private island and offers perfect snorkeling spots on the West Coast. The reef on the north side is accessed via a beach and here there is a natural white sand pool. Selecting a builder is a critical factor in construction. We recommend that this process is something you shouldn’t take lightly, or make this decision entirely based on price.

You just think people have problems with the construction industry in the United States. Wait until you get a burden of what goes through regulations in places like Belize. Perhaps the property you want to buy was more of a swamp and the construction company filled it with cheap gravel. Do you think the thing could sink two feet in the mud in a few years? Without the government oversight we’re used to in the developed world, no one is obligated to tell you anything about the history of the site on which your potential property is located.

For example, nature reserve land can be purchased, but under severe restrictions. The land of ‘Queen’, land within 66 feet of the surrounding water, cannot be purchased. There will always be some restrictions on what exactly is and isn’t for sale in Belize. Again, this is something a broker can help you navigate based on your own personal qualifications. It is smart to work with a lawyer for every real estate transaction. Depending on where you’re from, a lawyer from your home country may not be able to help you.

So if you’re in the middle of the ocean or just a piece or two behind, those will be your most expensive lots. Dora, are the real estate laws in Belize somewhat similar to those in the United States or do they differ greatly? I myself have a sister who has shown my wife and me several houses that are offered for sale around her city in Belize.

You may be able to get a real estate loan locally in Belize or take out an offshore loan. Choose an established law firm to support your purchase to ensure you don’t lose. Get recommendations before selecting the services and professional support equipment you need when buying a home in Belize. Ambergris Caye Real Estate An escrow company should, of course, be a neutral entity that acts as a liaison between the seller and the buyer if their ownership agreement is concluded. But Belize is not licensed for official escrow companies, which means you may end up with a bad company or fraudulent agent.

There are a number of factors to consider when making this decision, including the island’s infrastructure and zoning plans. If you’re serious about buying an island in Belize, it’s important to do your homework and research the country thoroughly. They can help you navigate the different options and find the perfect island for your needs. If you choose a more expensive option, you pay the difference. Contractors will usually list the initial construction cost on “construction grade” materials. The selection of a more expensive terrazzo tile, high-end faucets, etc. will usually not be included.

After conducting the necessary research, your lawyer will write a purchase agreement, which is a very detailed version of the ‘offer to purchase’. Once both the seller and the buyer accept all the terms of the sale and sign the document, your next step is to pay the purchase price in full. If you don’t have the money to pay for the property, there are several local and offshore banks that can offer you a loan at a very reasonable rate to finance your purchase.

Foreigners have the same rights as nationals in this regard, except for Argentine countries near a foreign border. In this scenario, some additional paperwork is required, which may take a little longer. The government imposes a “stamp duty” of 5% on the declared purchase price of Belizean properties at the time of transfer of ownership.