Things to Know About Buying Real Estate in Belize
Buying property internationally can be a pain. There is all kinds of red tape, bureaucracy, and legalities that one must trip their way through. However, for those looking to buy property in Belize, most of that is thrown out the window. Belize is not only one of the most beautiful countries in the world, it is also one of the easiest to buy property in. If you are looking to purchase property overseas, for personal or investment purposes, Belize is hard to beat.
Here are a few facts about buying real estate in Belize.
- Finding Property Is Exactly Like You’re Used To.
Finding property in Belize is no different than finding property anywhere else. In this modern digital age, many property investors can find property in Belize online all on their own. However, the process of using a real estate agent is also very common in Belize–just like everywhere else.
So, if you are planning on shopping for property in Belize, know that the process is very similar to how it likely already is in your home country.
- You Don’t Need to Be a Citizen.
The country of Belize allows the purchase of property even by non-citizens and non-residents. That means that virtually anyone can buy property from Belize so long as you meet the financial and property specific requirements. Unlike other countries, you do not actually have to live in the country to purchase there. You don’t even have to be in the country at all!
- You Will Need Proof of Finances.
Not all is so ‘raw’ and wild when it comes to buying property in Belize. The nation of Belize does require proof of finances when it comes to making a bid on a property. That is, you will need to show proof of financing whenever you make the actual bid on the property in order for it to be accepted. This is on top of your initial down payment. Just remember that you will always be required to prove that you can actually afford the property before all of the paperwork will go through.
- You Can Get Financing In Belize.
Many countries will require foreigners to obtain financing from their home country. With Belize, that is not necessary at all. There are plenty of banks and financial institutions that will offer financing to foreign nationals without a problem. The only thing is, you have to make sure you meet their requirements as an institution–which is to be expected.
- Plan On Up To 90-Days.
While buying property in Belize might be rather freeing, that doesn’t mean that it’s necessarily fast. The process can actually take quite a while from start to finish in some cases. You should always plan on up to 90-days for everything to become finalized and finished before your property is actually legally yours.
- Final Thoughts.
Before embarking on the journey, you should always make sure you fully understand the process. Buying real estate in Belize is in many ways far easier than other countries. However, that does not mean that it is without its own hoops to jump through. Make sure you fully grasp what is expected of you, and everything should go smoothly!
If you have any questions about Belize Real Estate, buying property for investment message us. If you want more information on investing abroad or banking in Belize, contact Luigi Wewege.