While it is still very popular to rent condos in Ambergris Caye, the truth about buying has come out and many people are making their move to own a piece of paradise. Ambergris Caye is an island off the coast of Belize and part of the country. It has gained great popularity over the past five years as the infrastructure has improved and brought more and more visitors.
However, what many of these visitors don't seem to know is the fact that real estate in the Caribbean is actually very easy to own. While they may be paying $1000 per week to rent a condo or a suite in Ambergris Caye, they could very easily own one for about the same amount per month or even less.
A Tax Boost
The government of Belize and the banking community have wanted to expand the population base and bring additional tax revenue into the country for some time now because it's good for a country and local community to see tax dollars come from the tourist industry. But residents are great for the tax base also.
The Buying Process
The banking industry does require a 50 percent down payment in some situations, but this is not outside of the amount that many people can pay. The remaining $50,000 would then be mortgaged in the same way that it would in any other country.
That means that instead of paying $1000 per week to rent a condo every time they visit, a family or individual can pay less than $1000 per month and own the property when all is said and done. If they are using the property as a vacation home, then it is possible to rent it out during the months when they are not going to be there and it can virtually pay for itself.
A New Business
The Ambergris Caye condo communities have not tried to hide this information, but with the way that most vacations come and go it is not something that gets shared between the clients and communities very often. Most of the time those visiting are too busy relaxing to take the time to do a lot of property research and rightfully so.
Now, however, armed with new information, the entire vacationing process can be altered and a simple vacation can become a business venture. Purchasing a condo and moving in is fairly easy and the Belizean government has put in place tax breaks to make moving into the country easier than even. A vacation property is now an overseas business that profits everyone in the long run.
A Good Return on Investment
There is no reason that a family has to pay for their own vacation. They can purchase the property, rent it out for six months of the year and have their vacation paid for by others that are taking their own vacations. Eventually the property will be completely theirs and they have a business that is virtually all profit. It is information that was never kept from anyone, but it is information that everyone should have.
Many times no one realizes the opportunities that are right under their noses. Real estate in the Caribbean is easy to purchase and a great opportunity to make money and secure a piece of paradise for the future.