What do I need to know when buying property in Belize?
When we asked expats what advice they would give a foreigner before buying a property in Belize, they said...
"Also be aware when buying a home, realtors can work for the buyer and seller so I don’t see in this case how they would chose which one to work for in their best interests. Also sellers are not legally obliged to tell you of any issues with the home so do a proper inspection before buying. Only the newer houses are built to American standards but of course they will cost more," explained one expat living in Corozal, Belize.
"When buying property in Belize, it is important to research the market thoroughly before making a purchase. It is important to ensure that you are working with a reputable real estate agent and lawyer to guide you through the property purchase process. Additionally, Belize real estate is sold on a 'fee simple ownership' basis and foreign buyers are required to obtain an 'Alien Landholding License' to purchase property. It is also important to note that some areas of Belize are only available to a limited number of applicants due to restrictions on foreign ownership. As such, prospective buyers may encounter a lengthy application process. Lastly, it is vital to be aware that some areas may have restrictions on the types of development allowed on the property," said another in Belize.
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Other Questions:
- What do I need to know before retiring in Belize?
- How do I meet people in Belize?
- What is life like in Belize?
- Is there a lot of crime in Belize?
- Is there a lot of diversity? Are people in Belize accepting of differences?
- What are the schools in Belize like?
- Is the cost of living in Belize high?
- What advice do you have for expats having a baby in Belize?
- What are healthcare services like in Belize?
- Is the cost of living in Belize high?
- What type of recreational facilities are in Belize?
- What is the weather like in Belize?
- Are there good restaurants in Belize?
- Where will I buy groceries and do other shopping in Belize?
- What are the visa & residency requirements in Belize?
- Are healthcare and health insurance expensive in Belize?
- What do I need to know when buying property in Belize?
- Are foreigners allowed to own property in Belize?
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What do I need to know when buying property in Belize?
If you live in Belize, newcomers to Belize would love to hear your answer to this question:
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
