“The current investment climate in the United States is volatile,” says Forbes advisor Kathleen Peddicord, “Inflation is high, and the financial markets remain unpredictable.” Instead of buying into the U.S. housing market, which, along with the housing markets of several other rich economies, is heading towards a price slump, investors are considering buying property overseas. After all, trends show that pent-up wanderlust, exchange rates, and the ability to work anywhere are driving renewed interest in owning property abroad. Beyond just a diversification strategy, it’s an investment that can bring capital growth and cash flow across currencies, with unique benefits. If you’ve been considering investing in property abroad, here are four benefits with a closer look at the English-speaking country of Belize, nestled with a Caribbean coastline in Central America.
Besides being English-speaking and following British Common Law meaning international investors can own property in their own name, the Belize dollar tracks the US dollar at 2 to 1. Indeed, a currency advantage means that whatever your capital budget, it’ll buy you more. Belize is also a T-8 Tax Haven and has no capital gains tax, no estate tax, very low property tax, and a 3% income tax on rental income generated.
#2. Overseas Property Costs Less Than U.S. Property
The cost of living in Belize is much less than in most metropolitan areas in North America, which also means that property will also be cheaper when compared to U.S. housing. Settling near the coast for US$100,000 is not unrealistic in Belize, though most trusted real estate agencies will have a budget calculator, like this one with Remax 1st Choice.
#3. Overseas Property Are A Souce of Income
In a destination like Belize that’s over 45% GDP reliant on tourism, your second home can also be a source of income for either short- or long-term rentals. With tourism appeal, double-digit returns are possible; short-term rental markets are back at pre-pandemic levels, and net yields of more than 10% are realistic.
At the end of the day, you own property in Belize! An absolute gem of natural beauty both offshore and inland, real estate in Belize doubles as a holiday or second home, assuming it’s not already your retirement residence. By spending time in your vacation home, you can avoid winter heating bills or worse, potential grid collapses like the southern United States saw last year. Plus, at only 2 hours or less by direct flight from the continental U.S., any money saved can be spent visiting family and friends at home, or even prioritizing healthcare there.
Ready Yourself To Invest Abroad in Belize with ReMax 1st Choice
Use a local real estate agency with a large selection of trustworthy listings, whether for already built homes or development properties, like ReMax 1st Choice. Not to mention, the benefits of using a local real estate agency, including ReMax 1st Choice, is a discovery tour in Belize before you go investing abroad; this includes helping with your accommodations, a cell phone, any appointments with local tour guides, and even a rental car. The difference is, ReMax 1st Choice is a part of the international RE/MAX community, with context from leaders in global real estate also.