Moving to Belize...

[lendaddy]

No not me I have a friend that came into some inheritance money and wants to move/retire to Belize. He's been talking to developers about building a house soon and I told him to slow down. I think he should rent for a year or two and learn the area and the developers first to avoid being taken advantage of/making locale mistakes. He's worried that prices there will spike soon ala Costa Rica and he'll be priced out of paradise if he waits.

He's not looking to do anything extravagant but comfortable.

I know many of you guys have been there a lot and thought I might jab you for input. Any thoughts on my friends situation or on Belize in general?

Thanks,

[126coupe]

You are correct, rent first, then if he really loves it do not build yet, let the other guy go through all the headaches and buy something.

[legion]

I'd suggest starting by researching how foreignors are allowed to "own" property in Belize.

Not sure how the laws are in Belize, but my understanding is that in Mexico (and many other countries), non-citizens are not allowed to own real property. They will let you put up the cash, but you have to find a citizen to "own" the property for you. As it turns out, it is very easy for the legal owner of the property (not you) to sell it without your consent, and you have no recourse and will be out the money you put up.

(Isn't ironic that most other countries give only their citizens rights and priveleges, while we give them to anyone who manages to get two feet on our soil?)

[masraum]

Originally Posted by legion

I'd suggest starting by researching how foreignors are allowed to "own" property in Belize.

Not sure how the laws are in Belize, but my understanding is that in Mexico (and many other countries), non-citizens are not allowed to own real property. They will let you put up the cash, but you have to find a citizen to "own" the property for you. As it turns out, it is very easy for the legal owner of the property (not you) to sell it without your consent, and you have no recourse and will be out the money you put up.

(Isn't ironic that most other countries give only their citizens rights and priveleges, while we give them to anyone who manages to get two feet on our soil?)

I don't know for sure, but I was told that foreigners could not own property on the coast in Mexico. Inland is fine, but coastal property is a no-no. I'm not sure how far inland you'd have to be for it to not be considered coastal. I also can't guaranty the info, it's just something that I was told by a Mexican tour guide when I was last in the Puerto Vallarta area.

Not that this info has anything to do with Belize.

[lendaddy]

Belize does allow foreign ownership....for now Which is another question I told him to get answered. Just how stable is the government there? I mean today's laws won't mean jack if they get a gov that decides they they want to absorb foreign assets. Didn't Columbia do that in the 80's?

[legion]

Cuba famously confiscated all foreign-owned property in the late 50's. That's one of the main reasons (that is conveniently ignored) we still have a trade embargo with them.

[LakeCleElum]

Originally Posted by lendaddy

Belize does allow foreign ownership....for now Which is another question I told him to get answered. Just how stable is the government there? I mean today's laws won't mean jack if they get a gov that decides they they want to absorb foreign assets. Didn't Columbia do that in the 80's?

Good point about the stability of the Gov't. When the UK decided to let Belize become an independent country (used to be British Honduras), they were afraid of being overtaken by other Central American counties. The UK wrote a treaty that agrees to protect Belize if invaded.

I've been there and you can buy property. Not for me, but some might like it.

[lendaddy]

Originally Posted by LakeCleElum

Good point about the stability of the Gov't. When the UK decided to let Belize become an independent country (used to be British Honduras), they were afraid of being overtaken by other Central American counties. The UK wrote a treaty that agrees to protect Belize if invaded.

Good info, thanks.

[David]

I've been to Belize a couple times and talked to a fair number of Americans who have moved there. It seems that the vast majority don't make it a year. It's much harder for most Americans to deal with the lack of supplies and lax work ethic versus the US.

I agree with the rent first idea although costs on the mainland are so low compared to here, that it may be a wash. If he's thinking of buying a Caye, then the costs can easily approach or exceed a $mil.

FYI, termites are terrible there so the only good building material is concrete.

[Superman]

I have a friend who owns a condo on Ambergris Caye. Excellent place. It's an island that's MUCH closer to the barrier reef than mainland Belize. From the bar to the dive spot just past the reef was seven minutes! It can take an hour from mainland Belize.

Rarely, but occasionally, a hurricane will flip south of the Yucatan Peninsula instead of north. Belize gets SLAMMED. The condo building I was in is made of concrete, quite thick. Lesser buildings don't do so well. My friend's wife is from Belize, so if only nationals can own property, that's how they did it.

Nice place. I really enjoyed it.

[rattlsnak]

Originally Posted by 125shifter

It seems that the vast majority don't make it a year. It's much harder for most Americans to deal with the lack of supplies and lax work ethic versus the US.

That would do me in as well.. Ive been there too and its great to visit, but after a week, I'm stir crazy...

[SLO-BOB]

Originally Posted by lendaddy

Belize does allow foreign ownership....for now Which is another question I told him to get answered. Just how stable is the government there? I mean today's laws won't mean jack if they get a gov that decides they they want to absorb foreign assets. Didn't Columbia do that in the 80's?

Exactly. I looked at the Dominican Republic to buy ocean front property. One can buy there (cheap) and live there indefinitely as an American citizen - no residency required. However, you can see Haiti from the beach I was on. Had to wonder how stable my investment would be. I decided not to.

Rent is cheap in a lot of warm climates. I would do that and invest my money in something more solid, like GM.

[dhoward]

Giant Fking Spiders.
Really.
Cool place, though.
Good diving, manana attitude.

[Superman]

There were no spiders on Ambergris Caye, AFAIK. Indeed, the place was very benign.

Belize used to be called British Honduras. I believe the Queen recently gave Belize some independent autonomy, but I believe she still essentially owns the place. Beaches are not private property. They are public, all of them. One night I walked from the bar to the condo using the beach instead of the road. A couple of miles or so. Fine, white coral beach.

[Dueller]

Originally Posted by rattlsnak

That would do me in as well.. Ive been there too and its great to visit, but after a week, I'm stir crazy...

A few years ago I took 3 months off and island hopped down the Carribean chain. Started out in USVI and worked my way down to Trinidad then on to Carracas VZ for the trip home. No itinerary...just let the wind carry me to next island...hit 22 different islands. Some I stayed for just a day or two (Anguilla) others I stayed for weeks (Barbados).

I absolutely love the island lifestyle...in moderation. After a while you begin to get island fever and must get off that rock, even if its just to the next rock. Sorta like living in a really small town where after a few days you keep seeing the same people/things/places over and over and over.

[livi]

Originally Posted by lendaddy

..came into some inheritance money and wants to move/retire to Belize.

A typical situation that never happens to me. That is kind of Créme de la créme of all sentences.

[JeremyD]

I have a good friend that moved there about 6 months ago to run a property.

www.dreambelize.com

He loves it down there.

[ruf-porsche]

Originally Posted by legion

Cuba famously confiscated all foreign-owned property in the late 50's. That's one of the main reasons (that is conveniently ignored) we still have a trade embargo with them.

We also have a base at Guantanamo Bay.

[Dueller]

Ruf...pm'd ya

[ruf-porsche]

Originally Posted by Dueller

Ruf...pm'd ya

Sent you back a reply.

You may also want to replace the fuel filter. It's located underneath the car in front of the right rear wheel.