Real Estate In Belize’s Cayo District
Own In Belize's Most Beautiful, Welcoming, And Affordable Region For As Little As US$13,000
Sept. 18, 2009
Cayo, Belize
PLUS:
- Panama City's Most Budget-Friendly Housing Option--Your Own Home For US$20,000 (Yes, There Is A Catch)...
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Great Deals -- If You Know Where to Look For Them
It's a buyer's market right now -- and not only in Miami and Detroit. You've heard the stories, I'm sure, about tremendous housing bargains in the U.S. and Europe, where tapped-out buyers are abandoning their mortgages and their homes, leaving banks holding portfolios packed with properties they don't want and can't sell. Some of them are offering houses by the dozens at prices from the 1950s and '60s, just to recoup some of their losses.
But what's the future for a house in Detroit? Even Miami, with the intrinsic value of its beachfront, will take years, if not decades, to recover from its current depressed position.
The better options are places that people like you are just beginning to discover, places that right now hold out the potential for affordable retirement living and holiday homes...places with natural beauty, friendly neighbors, and safe streets...places that will continue to attract attention, new residents, and holiday-makers for generations to
come.
What's the secret to discovering the best opportunities for where to put your money in the world's most promising real estate markets?
Find Out More Here
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Dear Live and Invest Overseas Reader,
"Let's see, Belize...Belize...Belize...Belize...," writes Correspondent from that country Phil Hahn.
"I laughed as I scrolled through my address book. I was looking for someone to invite to the Florida State University football game with me when I realized that my family is right. I do have more friends in Belize than in the States.
"After growing up in snowy Michigan, I moved to the warmer climes of Florida to attend FSU. I was happy to be out of the snow and close to the beach. As a springboard diver, I spent the first 20 years of my life hanging around pools. I love nothing as much as warm weather, water, and friendship. I think I was destined to find my way to Belize.
"It was in 2003, while I was designing and building homes in the then thriving Florida market, that I was introduced to Belize. A real estate agent approached me about the idea of buying property in this country. My first question was, 'Where is Belize?' (You can still buy T-shirts in Belize that say, 'Where the hell is Belize?').
"Long story short, the realtor got my attention (after showing me a map and reminding me where Belize, formerly British Honduras, is to be found). With partners, I purchased 115 acres of a 4,000-acre property that was on offer. Our due diligence was expedited thanks to the fact that the official language of Belize is English.
"That was the start of my love affair with this country. Since then, I have master planned the 115 acres and founded a holding company, Great Land Holdings (GLH), for the acquisition of the balance of the 4,000 acres, as well as three other properties in western Belize. In total, now, we've purchased 6,000 acres.
"The original 115 acres of riparian forest has been transformed into a one-of-a-kind new Caribbean town called Orchid Bay. The plan is based on New Urbanism principles that emphasize a respect for the local culture, history, and environment. I have to say, I'm proud of what we've accomplished here--the evocative road layout, the carefully managed green spaces, and the 20+ beach cottages under construction.
"With my GLH business partner guiding the growth of Orchid Bay, I have turned my attention to a new project in western Belize, called Carmelita, situated in the fertile Belize River Valley, with rainforest on one side and the Belize River on the other. The property is comprised of 450 acres with more than a mile of riverfront and a spectacular view of the Maya Mountains. It is flanked by the riverfront village of Santa Familia and the Mennonite town of Spanish Lookout. It is within this pastoral setting that Carmelita is being laid out as a New Ruralist community.
"My business partner in this case is Daniel Silva, whose family has owned Carmelita Farm for generations. As the former Belize Minister of Agriculture, Dan understands the land and the environment of this country. He and I are working together to create a plan that preserves the 150 acres of rainforest, home to howler monkeys and native fruit trees, on the north side of the property, while incorporating a new village with plenty of room for organic gardens, micro-farms, and community agriculture.
"The New Ruralism movement is becoming increasingly popular as more and more people are looking to live off the grid and off the land. This beautiful Belize River Valley is an ideal place to pursue this way of life.
"Organic food and organic gardening are big and growing industries. Since 1990, the organic food market has seen average growth of 20% per year, and the organic sector of the lawn and garden market, likewise, has been enjoying stellar growth, even through 2008. It's estimated that this organic lawn and garden sector reached US$460 million in retail sales in 2008, a healthy gain of 12% over 2007.
"While many industries and sectors are struggling in the face of the current economic climate, this organic sector could continue to expand because of the down global economy. Current economic realities are motivating more and more people to look for ways to be more
self-sufficient.
"Price point is key, the critical element of the buy decision today. This is where we have an advantage at Carmelita. Thanks to our low basis in the land, resources nearby, and the off-the-grid philosophy, home sites are priced from US$13,000 to US$55,000, depending on size and location. Additionally, an owner in Carmelita can purchase a small off-the-grid Garden Cottage for less than US$100,000.
"The philosophy at Carmelita is simple. We're providing an affordable place for people to live a healthy and happy lifestyle. And we're launching this new opportunity at a time when these back-to-basics values have more resonance than they have had in decades."
Find out more about Carmelita here.
Kathleen Peddicord
P.S. "The Cayo District, the region of Belize where we're planning our new Carmelita community, has quietly become the fastest-growing area in this country," continues Phil. "The lush tropical rainforests you find here, the abundant freshwater rivers, the largest underground cave system in the Western Hemisphere, and the fertile Belize River Valley once supported hundreds of thousands of Maya. Today the entire population of Belize is barely 300,000. While there are still Maya villages in the Mountain Pine Ridge region, the friendly residents, both locals and expats, of the Cayo District come from all walks of life and diverse ethnic backgrounds. However, as Belize is a British Commonwealth with English as its official language, it is easy to acclimate to and become part of the rich culture and Caribbean lifestyle.
"At the heart of Cayo, the largest district in Belize, are the twin towns of San Ignacio/Santa Elena. The Hawksworth Bridge, the only suspension bridge in the country, spans the Macal River, which winds its way between the towns. San Ignacio is known locally as El Cayo, Spanish for "the key," because the Macal and Mopan rivers form a small island before converging north of town to form the Belize River. In colonial times, Cayo was an inland port that was accessed from Belize City in 10 days on low draft river boats. Now the scenic drive out from the international airport in Belize City takes about an hour-and-a-half.
"Driving along the Western Highway, you'll know you're in Cayo when the flat savannah near the national capital of Belmopan gives way to the rolling foothills of the Maya Mountains, large citrus groves, and pastoral Mennonite farms..."
Phil is preparing a full report on retirement and expat life in this beautiful, welcoming, and very affordable region of Belize for the October issue of the Overseas Retirement Letter. If you're not yet a subscriber, go here now to become one in time to receive this special edition.
P.P.S. Phil Hahn will be among the global real estate investing professionals joining resident global real estate investing expert Lief Simon in Panama City next month (Oct. 15-17) for Lief's Third Annual Global Real Estate Profits Summit. Phil will be taking this opportunity to officially launch his new Carmelita community in Belize’s beautiful Cayo, with related special offers for conference attendees only. Here's how you can be in the room to take advantage of them.
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Our friends at Great Land Holdings have invited Live and Invest Overseas readers to join their
How To Use Your IRA To Own Real Estate Overseas Teleconference FREE
Americans are taking control of their retirement funds to own property in Belize and elsewhere.
During this tough period of economic uncertainty, worrying about your nest egg can keep you up at night. However, if you have an IRA, your dream home overseas is closer and more realizable than you think.
To understand more about why and how to use your IRA to purchase real estate in a foreign country, Great Land Holdings, Belize, is offering a FREE online instructional seminar.
During this FREE seminar, you will learn:
- How to use a tax-advantage self-directed IRA to invest in foreign real estate...
- What is and is not permissible using IRA funds to own real estate overseas...
- How to generate rental income with your property abroad...
- How and when you can move property out of your IRA for personal use...
Go here now to register to participate in this FREE special event:
How To Use Your IRA To Own Real Estate Overseas Teleconference
Friday Sept. 25, 2009, at 2:00 EDT
Register here
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"Kathleen, my husband and I live in Australia and have just returned from Panama. We visited to have a look at Panama City to see if we would be able to retire there. We researched the cost of living, went to Albrook Mall, the fish market, the fruit and vegetable market, Super 99, etc.
"We were only there for a week, but we covered a lot of ground. Traveled to Chitre and did not like it at all. Would never go back.
"The old city, though, is just beautiful, and we felt very comfortable around the Panamanian people, who are nice and tried to be helpful even with the language barrier.
"We were told about these beautiful homes about 15 minutes outside Panama on the way to Tocomen Airport. Single-story homes for around US$20,000 and double-story homes for US$50,000. We don't know what the area is called but are interested in more information about them. Could you steer us in the right direction?"
-- Des and Kelly O., Australia
I don't know if I would call these houses "beautiful." They're being built, by the hundreds, for the local low-end middle-class market. They're small (say, 60 to 80 square meters), cookie-cutter, and simple, with the most basic finishings and fixtures. No closets. No real kitchens. Basic bathrooms. Each is positioned on a lot only marginally bigger than the footprint of the house, and, in every one of these communities, these tiny houses are being built on grids covering acres of land. I think you might have trouble finding your home among the rows and rows of hundreds of houses that look just like it if you came home late and tipsy.
Frankly, I don't think most foreign retirees and expats would be comfortable living in these houses or these
communities.
All that aside, however, these homes provide basic housing and are a very budget-friendly option. They're being built all over the country. If they sound like something that you'd like to consider, I'd recommend against one in a neighborhood close to the airport, where security and safety can be an issue. Plus, commuting from here to the center of the city (for shopping, services, entertainment, etc.) could take much longer than you might imagine. It's not a long distance as the crow flies, but the traffic can be abominable.
Other areas where this kind of housing can be found are the towns of Arraijan and Chorrera. You'll still have the commuting issues living in these areas, which are not, really, part of Panama City but on the outskirts, but you'd feel more secure. |
