Real Estate Costs in Belize
Buying property in Belize
If you are moving to Belize or you plan to retire in Belize, you are probably considering purchasing real estate in Belize. Purchasing real estate in a foreign country is always risky for many reasons including currency risk, political risk and inflation risk. This articile is intended to give you a brief overview on the costs of real estate in Belize.
You must first consider if it makes more sense to purchase a vacation home in Belize or rent a vacation home in Belize. This decision often required careful financial analysis and you should often speak with your local financial advisor before making any financial investment decisions.
The first thing to look at when analyzing the average cost of living in Belize would be the cost of real estate or the cost of renting in Belize. You can generally rent a small flat or apartment in Belize City, the nationís capital for about $900 - $1200 a month. Alternatively a house in other regions of Belize including the Cayo district could be as low as $350 US dollars a month. Real estate prices vary dramatically depending on the region in Belize in which you would like to invest. If you plan to build a luxury house in Belize, you could be looking at investments between $300,000 and $1,000,000 dollars. This investment will usually get you a large home in a good area in Belize, generally in a gated Belize community. On the other hand if you plan to live modestly and purchase land in Belize for a small home you can often find parcels for as low as $5000 US. From there building a house in Belize can often cost as lows as $30 per square foot.
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