Buying real estate overseas can always be scary, but the good news is that the process is safe, simple, and almost identical to that in the United States or Canada.
If you’re thinking of buying real estate in Belize, here’s what you need to know.
1 – No Restrictions
The law in Belize is incredibly simple – foreigners have the same rights as locals to buy, rent, or sell property in Belize. The government of Belize actively welcomes foreign investment and property can be owned under your own name.
2 – Fee Simple Title
Real estate in Belize is determined by fee simple titles. This ensures that you are the undisputed owner of the property and will never have your rights infringed by eminent domain, squatters, or government intrusion.
3 – The Buying Process
The process of buying real estate is almost identical to that in North America. After the property owner accepts your offer, a title search is performed. Once all the documents are signed and funds transferred, it takes about 30 days to receive the title. The Belizean dollar is permanently pegged to the U.S. dollar at 2:1, and most purchases can be negotiated in either currency.
Note: Documents can be signed via fax, so you don’t have to be physically present in Belize for every step of the process.
4 – Why You Should Choose Corozal
Corozal District is Belize’s northernmost district (equivalent to a state or province) and near to the border with Mexico as well as the island of Ambergris Caye (a top tourist destination and gateway to the reef).
Corozal has an active expat community which regularly schedules fun activities and events. It also has several churches, a library, and has a cozy, small-town atmosphere.
Largely rural and composed of unspoiled landscapes, Corozal is conveniently close (less than 10 miles) away from the Mexican town of Chetumal City. Unlike Corozal, Chetumal City is a huge, bustling metropolis with all the excitement of the big city, including casinos, healthcare facilities, and familiar low-cost retailers like Walmart and Home Depot.
5 – Homeownership in Belize
Living in Belize allows you to enjoy a relaxed, Caribbean pace of life. Many homes are designed to be completely “off the grid,” having their own renewable sources of water and power. Property taxes are extremely low, just 1-1.5% of the undeveloped value of the land.
One of the best places to buy real estate in Belize’s Corozal District is Cerros Sands. A true “community in the country,” Cerros Sands has homes, condos, and undeveloped waterfront lots for sale starting at just $17,700.