The news likely came as a shock to careerists keeping tabs on trends published by The National Bureau of Economic Research (NBER): People in wealthy nations are having a record number of midlife crises due to stressors related to jobs, relationships, COVID, political strife and other factors. According to the 500,000 people surveyed by NBER, age 45 is when people reach their “maximum level of work stress.”
Why should you be concerned about this growing statistic? Because frustration based on unfulfilled dreams, hopes and ambitions seem to be eluding even the most successful among us and neither gender nor income are driving this phenomenon.
Fortune magazine editors concur with this dramatic study, reporting burnout experienced by younger people these days and if you count yourself among this growing number, it’s time you created your own path to autonomy by taking a leap that offers you independence and autonomy. Take some of the money you amassed during COVID and start buying income-producing rental property in Placencia Belize.
With 2023 looming, it’s the ideal time to declare new goals for the year ahead—whether you are starting to burn out or the prospect of it appears to be looming in the not-to-distant future. Belize has been positioning itself as the stand-out Caribbean hub for the past decade as more North Americans are lured to this nation driven by perks of early retirement, but you don’t have to move to Belize to put together your own investment strategy.
Looking for reasons to invest in Belize real estate? Start with these five:
- Belize weathered the COVID assault by putting into practice protocols and methods that assured the safety of travelers who came to trust these practices. As a result, tourism is, to quote one developer, “on a meteoric rise.” Ask legions of North Americans moving to Belize why they chose this nation over others, and they’ll cite fiscal incentives, welcoming residents, and a climate absent of seasonal highs and lows. Government and the private sector have made substantial development commitments, adding to forecast growth.
- You own your investment outright. Neighboring nations may require citizenship or residency as a condition of property ownership but not so in Belize. Foreign investors flock to Belize because dealings are transparent and ownership rights and legalities are easy to understand. Disputes over land ownership and usage are rare if at all. Leaseholds don’t exist thus the investment you make in vacation rental property comes with more peace of mind.
3. If you have ever flirted with overseas real estate purchases that wind up going south because the nation’s currency is subject to fluctuations, you know how ulcer-producing these ups and downs can be. Belize’s monetary system is pegged to the U.S. dollar and the exchange rate has maintained a consistent ratio of $2BZD to $1USD. Investors can count on property value stability because this ratio remains constant.
4. Plenty of investors suggest that this list should start by extolling the virtues of Belize property taxes because they’re so low, skeptics express disbelief. Real estate taxes are based on the “undeveloped value” of the parcel(s) in your portfolio, so you are likely to pay only 1.5% of that value in property taxes. This means you stand a chance of making serious profits, especially compared to comparable destinations.
5. The market is not saturated. The amount of undeveloped land (including beachfront property) is staggering and Belize real estate remains a buyer’s market. Whether investors choose to purchase empty lots and hire local contractors to build rental units or find the perfect turn-key opportunities, one exploratory visit to Belize is all it takes to convince investors they’ve found real estate nirvana.
You’ll need a guide to help with every step
Like all ventures you’ve undertaken in your life, you need the wise counsel of folks who are knowledgeable and savvy about all aspects of Belize real estate, and if you’re a fan of one-stop shopping, ReMax 1st Choice Belize is your conduit to success.
Further, you needn’t worry about putting your dealings into the hands of an overseas firm because Belize’s first language is English and the nation’s legal system is based on England’s. In other words, every aspect of your dealings will be clear, understandable, and forthright, and with 1st Choice as your guide, no surprises lurk!
What can you expect if you decide to invest in Belize vacation property by working with 1st Choice Belize? Everything you seek and usually more. One visit to the ReMax 1st Choice website introduces you to the options made available to you, and this wealth of listings covers all types of real estate. Sold? We thought so!
All images courtesy Remix/1st Choice
