Belize is a small country nestled between Mexico and Guatemala. It’s known for its pristine beaches, tropical climate, and the largest barrier reef on the mainland of Central America. This country has a number of interesting facts about it that only an insider can tell you. And like any other information, the more you know, the better equipped you are to make decisions regarding your future in this beautiful country.
If you’re planning to move to Belize, there are certain things you need to keep in mind before taking any action. In this blog, we help you get a grip on some of the important facts about this country that every international or aspiring citizen needs to be aware of before making any move.
What is Belize?
Belize is a Caribbean country located on the eastern coast of Central America. It is bordered by Mexico to the north and east, Guatemala to the south, and the Cayman Islands to the west. The capital of Belize is Belmopan, which lies on an island in the Sholea Swamp. This tropical region features warm temperatures year-round, with average highs of 81°F and lows of 66°F. The annual rainfall in Belize’s southern half ranges from 30 to 60 inches.
Belize’s northern half features a subtropical climate with average highs of 83°F and lows of 63°F. Annual precipitation in this region ranges from 40 to 80 inches. The majority of Belize’s population is of Maya heritage. This includes Mayans who primarily live in rural areas and those who have immigrated from other countries. The economy of Belize is based largely on agriculture and tourism, with sugarcane as its main agricultural product. Its currency is the Belize Dollar (BZD).
Belize has a varied climate with dry seasons in the north and rainy seasons in the south. Terrain varies from coastal plains in the north to rugged hills in the south, with many rainforest areas in between. There are over 300 indigenous Mayan languages spoken in Belize
History of Belize
Belize is a small country located in Central America. Its history dates back to the early 16th century, when it was discovered by Spanish explorers. Belize’s indigenous people, the Mayans, played an important role in the country’s development. The British colonized Belize in the late 18th century and set up a major sugar industry there. During World War II, Belize was a base for the Allied forces fighting against the Axis powers.
In 1962, Belize became an independent country and began to develop its economy rapidly. Today, Belize’s economy is based on agriculture, tourism, and services. The official language of Belize is English, but Spanish is also widely spoken.
Affordability of living in Belize is one of its biggest strengths as compared to other countries in Central America. The cost of living in Belize is relatively low when compared to other countries. It’s safe to live in Belize as it has a population of around 300,000 people and is considered a safe country to live in.
What are the most important factors to consider when buying or selling real estate in Belize?
When buying or selling real estate in Belize, the most important factors to consider are location, price, and condition.
Location is key when considering real estate in Belize. Properties located in desirable areas tend to be more expensive. However, if you are looking for a specific type of property (like a seaside villa), then you may find it cheaper to purchase one closer to the coast.
It is important to inspect properties carefully before making a purchase or selling. Sometimes hidden damage or problems with the property can go undetected, and these can lead to costly repairs or replacements down the road.
Condition of a property can also affect its value. A well-maintained property will usually be more expensive than one that is in poor condition.
It is advisable to have a real estate agent represent you when purchasing or selling property in Belize Real Estate. They have years of experience in the market and can help navigate you through the process smoothly and without any misunderstanding.
What are some of the most popular real estate markets in Belize?
The most popular real estate markets in Belize are Ambergris Caye, San Pedro, and Placencia. The average cost of a home in Belize is around US$250,000. The average price of a home in Belize has increased by over 70% in the past two years. The Belizean government offers several tax breaks for real estate investors, including a 15% income tax exemption for property owners, a 12% value-added tax (VAT) exemption on real estate transactions, and a 15% sales tax exemption on real estate purchases.
What should I do if I am interested in buying or selling property in Belize?
When it comes to buying or selling property in Belize, make sure to do your research. There are plenty of helpful websites and articles that can help you get started. In addition, it is always best to consult with a local real estate agent. They will be able to provide you with valuable insight into the market, as well as help you navigate the legal process.
When selling property, make sure to have a marketing plan in place that includes aggressive advertising. Also, refrain from making any major financial decisions until after speaking to a real estate agent. By doing this, you’ll be able to ensure that you’re getting an accurate appraisal and understanding all of your potential risks.
What are some of the most common concerns that new residents have when moving to Belize?
When it comes to settling down in a new place, many people are concerned about safety, crime, and the local currency.
Some of the most common concerns that new residents have when moving to Belize include safety from violent crimes, theft, and hurricanes; the currency, the Belize dollar, is pegged to the U.S. dollar and can be exchanged for other currencies at any time; and the cost of living is lower than in many other developed countries.
New residents should be aware that English is not the primary language spoken in Belize. Most people in Belize speak Spanish as their first language. However, some basic English will suffice to get by.
Conclusion
If you’re planning to buy real estate in this beautiful place, we have some tips that just might help you cut through the clutter and make the most of your investment. So, listen up!