by Rachel Jensen 
Buying property abroad is a thrilling experience and can be a smart, rewarding investment. Each country has its distinct features and Belize continues to top the charts because of its stunning, tropical and exotic charm. It is a highly sought-after destination to invest in and own real estate. While buying property in Belize is a straightforward process, we have suggestions you should consider before deciding to buy a property in Belize.
1. Accessibility to the Property and Security:
It is highly recommended to visit the property in person before deciding to buy a property in Belize. The biggest mistake you can make when buying property is to purchase property without seeing the place in person. It can be tempting to make an impulse buy when you see an incredible price online, especially if you have amazing photos to support it. But, the lower costs often result in more difficult or inaccessible locations.
One thing worth mentioning is the time of year when it rains in Belize. Most people think it is a normal element of the cycle of weather and an unimportant problem that is not as significant as a snowy or cold winter. However, the heavy rains that fall in certain areas could translate into impassable zones. The home you adored and purchased in the dry season could be impassable for the duration of the time of the year.
Living in Belize provides a variety of obvious advantages. There are lower living costs, income tax advantages, a warm culture, and a stunning landscape. Belize has a low crime rate and numerous safe, tight-knit communities, including flourishing ex-pat communities.
Security is the top priority for all, regardless of where we reside. Find out about your local safety and security before investing. If you’re buying in a planned community or development, find out what security measures are in place. If you can, speak with the community residents and other ex-pats regarding their personal experiences.
Read Also Top Questions When Buying a Property in Belize
2. Infrastructure around the area:
Belize has beautiful and well-built houses in many towns, but some are in remote areas where crucial infrastructure components may not have been put in place. Research the available amenities such as medical services and utilities.
Belize provides good basic medical services for residents and visitors. The more populated areas such as Belmopan and Belize City tend to have the larger facilities, but clinics can be found throughout the smaller towns.
In the modern world, Internet and data connectivity are more important than anything else. Connectivity includes a minimum of a phone connection and an internet connection. The options for data connectivity include DSL, cable, and fiber optics in certain areas. In other places, the options for communication can be a bit irregular. Be sure to know beforehand what technology is available and its associated costs.
3. Future Development Plan of the Area:
Another aspect to consider is the potential development of the area around you. In several nations, there are limits on what property owners can do on their property. In Belize, there is no zoning or deed restrictions. If there are empty lots or home sites around you, understand that there is the possibility anything can be built – from a school to a farm to a large resort.
Plan to buy a property from a reputed developer who has experience in the region and ask what his future plans for the property are. If you are going to live or invest if this property, it is important that you know what will go up around you.
4. Financing:
Financing for a property in Belize is hard to come by. About 10% of sellers will offer financing and the terms are usually around 50% down, 5-year balloon and 7-10% interest. Developers may finance their project, but that is not guaranteed. Your best bet is to plan to pay cash.
5. Title Search:
One of the most important aspects of buying a property is to secure the title. You are encouraged to work with an attorney prior to purchasing your home to complete the property due diligence, which includes completing a title search. There is no title insurance is Belize, so this part of the buying process is critical.
Thinking about owning property in Belize? Reach out to me and let me know what’s on your mind.
