I’ll tell you a secret about many owners of island homes—the island isn’t their primary residence. At least, not yet! Think of an island real estate investment as obtaining a dreamy ‘home away from home’ until you’re ready to make the leap to full-time island life.
A trend that’s gained momentum the past few years is purchasing your dream beachfront home to live in two to three months out of the year, and renting it out the remainder of the year. Thanks to the popularity of global rental services like Airbnb, renting your home can be a successful and simple venture.
Residential options are plentiful in Belize. You could invest in a condo on the beach, a home in a planned community, a house in a neighboring Caye, or land to build on. Each purchase has its advantages (and disadvantages), so it really comes down to your personal goals. Keep in mind, when buying a second home, you don’t have to purchase the ultimate beach house with an infinity pool and rooftop patio right away. It’s OK to start small and go big later once you’ve spent some quality time on the island.
Fun fact: property taxes are very low in Belize, some only $100/year.
Whether you’re planning for retirement or just want a change in latitude, finding the right piece of real estate begins with finding the right real estate agent. A realtor who’s knowledgeable about real estate in San Pedro can guide you to the right properties, help you prepare your financial documents and negotiate the sale for you.
It’s also beneficial to connect with an agent on the island who not only understands your goals…but knows firsthand your journey because they’ve already experienced it themselves. Case in point, a U.S. citizen purchasing real estate in San Pedro, Belize from a local American real estate agent knows they’re going to receive service backed with true experience.
Fun fact: I grew up in Kenosha, WI, moved to San Pedro, Belize nearly 20 years ago and have been a real estate agent on the island since 2011!
The bottom line is it’s fairly easy for a foreigner to purchase property in Belize. Which means your dream of owning a home on a tropical island is definitely doable! Connect with me and I’ll help you maneuver through the questions and choices of which type of property is best suited for your needs and how best to make the purchase.
Written By: Jeff Bella