April 7, 2010
Corozal, Belize
PLUS:
- Sizing Up Rental Investment Markets--Montevideo Versus Panama City
- "Kathleen, Why So Anti-Mexico?"...
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How to Collect Social Security at ANY AGE
Millions of Americans who are not yet retired are collecting $1,000 or more per month in Social Security Benefits.
And millions more have figured out how to "rig" the system to boost their retirement benefits by an extra $700 or more per month!
As Alabama resident David McManus (who's pocketing an extra $1,068 per month) recently said: "It's almost too good to be true."
Full report explains how these Social Security "loopholes" work...
Get the details here
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Dear Live and Invest Overseas Reader,
For many, the driving agenda behind seeking out a new life in a new place is a desire to live on the beach. Right on the sand. With nothing between you and the water lapping at the shoreline. Uninterrupted views, uninterrupted access...the ability to step from your front door right on to the beach and to saunter at will down to the water's edge...
The truth is, though, there are limited options worldwide for this kind of front-line beach living. Your chances for enjoying a right-on-the-sand lifestyle supported by the amenities and services of a master-planned community are even fewer and what opportunities you find of this description typically come at a serious premium.
In
Belize a couple of weeks ago, I spent the day at a place where this kind of true beachfront living within a planned community is not only possible but also affordable.
The community is
Orchid Bay, and it's already taking shape. Roads are in, the clubhouse has been built, and 24 casitas are in place (all but one has been sold as of this writing).
The casitas are sprinkled across an interior section of the property, with plenty of palm trees and other vegetation between and among them, creating a comfortable, cozy, neighborhood environment.
The next phase of development will be condos, and these will not be spread throughout the property and the foliage but built directly on the beach.
Orchid Bay sits on the north mainland coast of Belize and boasts 4,000 feet of uninterrupted sandy Caribbean frontage, some of which is soon going to be given over to the front-balcony views of this cluster of 24 condos. The plan isn't for high density, but, rather, for four three-story buildings with six condos apiece.
The casitas and the palapa clubhouse are low-key, even rustic. The condos will be higher-end. In fact, they've been designed by the same architect responsible for Victoria House, the highest-end beach resort on Ambergris Caye.
Which segues to an interesting comparison. The condo market out on Ambergris has been going strong for the past 10 years. Traveling the island from end to end recently, I was amazed (and a little disappointed) by the number of condo developments that now line its shores. Through 2007, prices for these units appreciated steadily, culminating in a strong $500,000 to $1 million-plus market. That market disappeared in 2008. Today, though, I was assured, buyers are returning. They're not looking to spend upwards of $1 million, but the $300,000 to $500,000 market is rebuilding itself.
That's Ambergris Caye, which is part of Belize, yes, but really a region and certainly a market unto itself. While the real estate scene out on the island was going bananas over the past decade, that on the country's mainland was largely ignored. Small, uninspired projects were started and mostly stalled along the mainland coast around Placencia and Hopkins, and nothing much at all was happening along the northern mainland coast.
Until Orchid Bay. About five years ago, longtime friend in the country, Phil Hahn, identified about 70 acres on the Chetumal Bay as the ideal spot to establish the sustainable waterfront development he envisioned. Phil wanted to build a community that respected not only its physical environment, but its local community, as well. The design and layout for Orchid Bay grew organically out of the topography of the land where it was to be developed. To this serene, sandy spot, alive with wildflowers and bird life, Phil wanted to attract a diverse and eclectic group of residents who would appreciate both the beauty of the land and the opportunity this spot affords to live in peace and privacy.
The town of Orchid Bay has been planned around central plazas connected by tree-lined avenues. The entire community is designed for walkability, and every attraction is no more than a five-minute stroll from any given point. The vision for Orchid Bay marks a return to tight-knit community, a place where daily life is lived outside and among others. To support this vision, the plan calls for an equestrian center with a 6-acre horse pasture and stables, miles of walking and riding trails, an on-site outfitter for excursions, tennis courts, and an observatory, plus a beachside cantina, a palapa bar, a beachside pool, a bonfire pit, and a lounge deck with sunset views.
The vision for the new Orchid Bay condos is also turn-key. You can opt to have your condo delivered fully furnished. Then, as an owner, you have access to both property management and concierge services.
Orchid Bay is unique in Belize, the only fully master-planned community of its kind on the country's mainland coast. It distinguishes itself, too, from all the condo chaos out on Ambergris with its acres of hiking trails, horse-riding facilities, and commitment to community.
In fact, Orchid Bay and this Corozal region of Belize couldn't be more different from Ambergris Caye. I appreciate what both spots have to offer. Ambergris is quintessential Caribbean, the place to go for a life of fun in the sun (diving, snorkeling, fishing, etc.) plus island nightlife (especially rowdy come Spring Break). Corozal enjoys the same sunshine, but this is a place to escape the growing karaoke-'til-midnight crowd out on the island.
Corozal and Orchid Bay are a chance to settle in and to settle down among like-minded fellows happy to pass the hours plucking on a six-string or riding horseback along the beach.
The best part is the price point. A comparable size condo on the beach on Ambergris is selling in today's market for US$400,000+. The new condos at Orchid Bay start at US$249,000.
And, for a limited time, they come with a special Live and Invest Overseas reader discount...and financing. I spoke with our friends at Orchid Bay following my recent visit and asked what they could do to sweeten the deal for my readers. Here's the offer:
You can take US$10,000 off the top of whichever unit you might be interested in buying. Then you can contract for payment over time, with only 10% down upon signing of the contract.
The team at Orchid Bay will explain further when you get in touch. They can also help you to organize a visit to the property, which I heartily recommend.
Get in touch here.
Kathleen Peddicord
P.S. Orchid Bay will be represented, of course, at our upcoming
Live & Invest in Belize Conference planned for June 21-23 in Belize City. This will be the ideal opportunity to meet with the people behind this unique beachfront community in person and to arrange a site visit.
Full details of the conference program we've put together are here. Space in the meeting room, unfortunately, is strictly limited. Once it's filled, we won't be able to arrange for anymore, as there just isn't anymore available.
The
Early Bird Discount is in effect now through May 1.
If you'd like to join us (this is the only Belize event we will do this year), I urge you to reserve your place now. You can reach Conference Director Sofia Hogan with your questions by phone, toll-free from the United States, at 888-627-8834.
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An English-speaking Paradise On The Caribbean
Belize is a tiny, under-populated, under-developed country (there are but three highways in the whole place) blessed with a long Caribbean coast and a sprinkling of islands just offshore fringed by white sand and palm trees. It's quintessential Caribbean served up for the non-jet-setter. For, while Belize is more expensive today, certainly, than it was the first time I set eyes on it, more than 20 years ago, it still can be called a bargain.
Plus, Belize has a great deal to offer beyond its Caribbean coast and islands. Inland, in the Cayo, Belize is a land of off-road mountain, jungle, river, cave, and waterfall adventures. And that's not to mention the countless (and sometimes undiscovered) Mayan ruins.
Would it be a "good" place to live? Not for everyone. Belize is a 21st-century corsair's playground, a frontier where you make your own way and the government interferes nearly not at all. This is a country for independent thinkers and self-sufficient sorts.
On the other hand: Belize is, in fact, one of the easiest places in the world to obtain foreign residency. It's also one of the best tax havens in the world...
The advantages, appeals, and attractions of Belize are many.
Go Here Now To Learn More
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"Kathleen, I am interested in investing in rental property overseas, and I have researched
Montevideo and
Panama City as the most likely choices. Are there compelling reasons why one of these cities would be a better investment option than the other?"
-- Marvin R., United States
In many regards, Montevideo could be considered a better lifestyle choice than Panama City. It's quieter, cleaner, calmer, more tranquil... But these things that may make it more appealing to some from a lifestyle point of view make it less interesting from an investment perspective. Panama's capital is a vibrant and growing city being fed by many industries and receiving increasing attention from many different foreign investment groups.
I read this morning, for example, that job fairs have been planned this month and next to help source the 7,000 workers being sought to help build the new set of locks for the Panama Canal. And this is but one of many infrastructure and investment projects currently under way in Panama City requiring labor and creating activity.
Montevideo, on the other hand, while a charming place, is sleepier, with less compelling prospects for long-term growth.
The challenge in Panama City is finding a rental unit for a price that will allow for a reasonable rental income yield. It's possible, though, as the market has settled over the past 18 months.
"My wife and I have lived for five years in
Mexico, the first four on Lake Chapala. Last year we bought a home in La Manzanilla on the Costa Alegre after getting to know the place over three years. We kept our house in San Antonio Tlayacapan on Lake Chapala as a snow-bird rental and a place to escape from the hot/humid September/October months in La Manzanilla (the rest of the year is fine with us). Our Chapala rental pays for the house for 10 months a year, and we have it available as a mountain/lake retreat for six months a year. What could be better?
"Why don't you recommend beautiful Mexico to people? The culture could not be better, the prices are still low (we spent US$3.80 for dinner for two, including a shared beer and 15% tip last night). Ninety-nine percent of Mexico is as safe or more safe than North of the Border, especially if you live next to local neighbors.
"Again, I've enjoyed our on-line relationship for over six years now, but why so anti-Mexico?"
-- Jon P., Mexico
I wouldn't say I'm anti-Mexico. Ajijic is too organized for my taste (that's a personal position, I understand...for many, the big attraction of this area is the well-established expat community...for me, that's a negative)...plus Lake Chapala, the last time I saw it, was more like a mud flat. I understand, though, that this has changed and the lake has largely returned.
I am anti-Merida. This is a big, flat, really, really hot city in my view...not at all charming and, bottom line, just way too hot for comfort.
On the other hand, I appreciate the charms and appeals of colonial San Miguel de Allende, for example, and of this country's Pacific coast. In fact, I'm planning a trip (for May) to Mexico's south Pacific coast...so I'll be reporting from that part of the country in weeks to come.
One important downside to Mexico is the tax situation. The country taxes residents on worldwide income, my least favorite form of taxation.
