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#412117 - 07/19/11 10:07 PM Buying Beach Property
Rincoln Offline
My family and I (Wife and her Parents) will be staying at La Perla Del Caribe in August for about 7 days. We are interested in buying some beachfront land to build on at a future time.

I was wondering if the locals(or people in the know) think it is better to look at the Southern tip of Ambergris or should we head North towards Mexico?

We are not rich but would like to start planning for a great (hopefully) early retirement now. I am 36 years old and my wife is younger.

Also any great real estate agent recommendations ?

Thanks



Edited by Rincoln (07/19/11 10:08 PM)
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#412118 - 07/19/11 10:11 PM Re: Buying Beach Property [Re: Rincoln]
champion Offline
Growth is north, and at your age and stage, I think it would be a better investment. MHO
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#412120 - 07/19/11 10:19 PM Re: Buying Beach Property [Re: champion]
CaptOneIron Offline
I certainly agree North is better but a lot depends on how much you can afford now. Be wary of people telling you that 'x' amount per linear foot of beach is a good deal and that sort of thing. I would highly recommend Richard McNinimy of Barrier Reef Realty as I have used him on two purchases and found him honest, straightforward and willing to work with you even if you are not now a millionaire.
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#412126 - 07/19/11 10:51 PM Re: Buying Beach Property [Re: CaptOneIron]
Tim Callanan Offline
When you say beach property and future,immediately I think the West side.North is good also,you can get some good deals on the West side.


Edited by Tim Callanan (07/19/11 11:50 PM)
Edit Reason: little much
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#412129 - 07/19/11 11:27 PM Re: Buying Beach Property [Re: Rincoln]
Keller Offline
If you are looking for something a little closer to the action with utilities there are a few waterfront properties in town too.
http://www.coralbeachrealty.net/listings.php?search=type&value=0

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#412155 - 07/20/11 01:49 PM Re: Buying Beach Property [Re: Rincoln]
TravelinMan1 Offline
Although I certainly understand folks giving advise as to what someone should be buying I think that you all are doing so without the facts. Based on the information you have provided I could not recommend that you purchase north or south. I would need to know what your goals are, what your budget is, when you say future what does that mean (number of years), etc.

Saying north is best and then saying you have a budget of $50,000.00 USD means the only place you can buy beachfront is Palm Bay. That is a long way away with no road and limited boat access.

Actually Land on the south end of the island is a better value and is seeing more activity at this time. Having said that I could not tell you what to buy without more information.

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#412156 - 07/20/11 02:17 PM Re: Buying Beach Property [Re: Rincoln]
elbert Offline
Rincoln,
The South end is developed already and a little lower sea level wise. The North is where the undeveloped space is and higher elevation, also the direction of the development.
Heat and mosquitoes should be a big consideration and the East side of our long skinny island that runs North and South is where 99% of the people live because of the Trade wind blowing the bugs to the back and cooling you off.. Its really a giant consideration.
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#412179 - 07/20/11 04:40 PM Re: Buying Beach Property [Re: Rincoln]
Amanda Syme Offline
Other factors to consider are important amenities such as road access, electricity, city water and cable tv. Although cell phone coverage is now available every where on the island the same cannot be said about the other basic amenities.

Keep in mind that you may be able to purchase a lot for $50K in Palm Bay - but the cost to develop that lot will be considerably higher than construction costs closer to town.

Although a developed property such as a condo may not be the your "dream" property at the moment you may find that buying a vacation home that is immediately useable that has the potential to produce income and can be resold in the future could be your most practical option. It provides immediate gratification - with fairly fixed costs that you can budget. One of the many benefits of a condo is that the vast majority are located close to town and have amenities in place. Having shared grounds, pier and pool mean you can enjoy these features without having to bear all of the costs of maintenance.

If you would like to discuss this subject drop me a PM - I will be happy to discuss your particular concerns and interests.

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#412194 - 07/20/11 07:56 PM Re: Buying Beach Property [Re: Amanda Syme]
Tim Callanan Offline
Sometimes life can be unpredictable,land is such a simpler investment. No insurance,no maintenance fees,no reassessments.Some of our clients would prefer to just get their foot in the door.Make sure you pick a good location that will work to your advantage investment wise.If you have plenty of time, buy a property that is close to electric;and cash in later when the infrastructure is there.Sometimes this is easy to see the progress with utilities,other times you will need a professional to give you the heads up.Land is simple and rarely becomes a burden.We have clients that specifically put their money in land (land bank).Beachfront is one of the best Land banks you can obtain.Don't be foolish and look for a bargain,get a well respected adviser/agency. Good Luck,and P.m. or e-mail if you have any questions. Most important have a great trip to the island.
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#412200 - 07/20/11 09:52 PM Re: Buying Beach Property [Re: TravelinMan1]
Rincoln Offline
Originally Posted By: TravelinMan1
Although I certainly understand folks giving advise as to what someone should be buying I think that you all are doing so without the facts. Based on the information you have provided I could not recommend that you purchase north or south. I would need to know what your goals are, what your budget is, when you say future what does that mean (number of years), etc.

Saying north is best and then saying you have a budget of $50,000.00 USD means the only place you can buy beachfront is Palm Bay. That is a long way away with no road and limited boat access.

Actually Land on the south end of the island is a better value and is seeing more activity at this time. Having said that I could not tell you what to buy without more information.


Thanks for the post.
The timeline and budget are both not known.
My wife and I have a budget around $50,000ish and I time line of anywhere from 18 to 30 years.
However her parents are also looking and they have a timeline of 1 to 3 years and a budget of $200,000 to $400,000
We have also considering going in together.
Hope that info helps.
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