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#230721 - 02/21/07 05:28 PM Condo Prices  
Joined: Feb 2007
Posts: 1,740
deadserious Offline
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deadserious  Offline
My wife and I are looking at purchasing a condo on Ambergris Caye that we will probably visit 6-8 months out of the year. The rest of the time will be spent back in the States with family or in our current place in Las Vegas.

My last trip to San Pedro was in October of 2005 (during the hurricane) and I know a ton of new development is in the works now. We've been looking at Reef Village as well as some other developments. We are also open to a detatched house, but prefer the condo situation due to the amount of time that we will likely be away. We don't care as much about the rental opportunities of the condo and may not elect to rent it out anyway when we are not there.

What is a reasonable price per square foot for a condo in San Pedro? I read another post here from Lan Sluder that the condo bubble may be about to burst and therefore are a little leary of buying at the high range. In fact, unless we decide to purchase a house instead, we would probably be looking more for a value investment than a luxury investment.

The Reef Village seems to be offering good value but I know there have been some issues with the locals regarding the development. In particular, I've read that they are destroying the road north of the cut and there are some questions regarding the environmental impact. Other than that, I haven't heard much about them outside of their marketing speak.

We will be there in April and will be seeking out as many options as possible so that we can make a decision shortly regarding a purchase.

If anyone has any tips, pointers or "been there" stories to share, I'd be especially interested.

Thanks

Jason Southwell


Now back to your regularly scheduled drivel...
#230723 - 02/21/07 05:54 PM Re: Condo Prices [Re: deadserious]  
Joined: Jan 2007
Posts: 395
beachbumin Offline
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beachbumin  Offline
All condos or houses are not the same, and like everywhere else in the world, you get what you pay for. The best thing to do is plan to spend your time in April north, south, and central. Although you may find attractive "pre-construction" pricing on some condos, check the reputation of the developer. The island has many "gringo in Belize" stories. If you are looking at a condo, issues such as who manages the condos, homeowners associations and covenants all come into play. If you use a realtor, and there are some good ones, make sure that you see all the projects available and not just those they have the listing for. Good luck and have fun. No hurricanes in April!

#230725 - 02/21/07 06:12 PM Re: Condo Prices [Re: beachbumin]  
Joined: Feb 2007
Posts: 1,740
deadserious Offline
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deadserious  Offline
I understand that realtors do not need to be licensed in Belize. How do you go about finding a good one? I find that many realtors on Ambergris have really terrible websites, and while a good site does not always equal a good realtor, I've found that those who spend the time and money to put together a nice presentation are often the more successful of the bunch. But maybe it's just the fact that I'm a web guy by trade and put too much emphasis on stuff like that.


Now back to your regularly scheduled drivel...
#230728 - 02/21/07 06:33 PM Re: Condo Prices [Re: deadserious]  
Joined: Mar 2003
Posts: 1,123
indygal Offline
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indygal  Offline
We used Chris at Pelican Realty and were very please with his services. He also saved us some money on the closing. We bought a fixer upper condo a Royal Palm a few months ago. We like it here and the prices are a bargin. They are at the age that the interiors need some up dating if they have not already been renovated.


Life is not about waiting for the storm to pass, it's about learning to dance in the rain.
#230731 - 02/21/07 07:04 PM Re: Condo Prices [Re: indygal]  
Joined: Mar 2006
Posts: 655
LaraTravelBelize Offline
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LaraTravelBelize  Offline
i used tim and tina at investinbelize.com. they are amazing people that held my hand every single step of the way. they went from being my realtors to being dear dear friends who continue to be a positive influence in my life. i simply cannot say enough about them. their number is 501-226-4000 or go to the above website.

now, having said that, there are many amazing people on this island who also sell real estate. lots of real estate companies have wonderful people and great reputations.

like buying in the states, you need to have a relationship of trust with your realtor. talk to some of them, and pick the one that you like.

#230766 - 02/22/07 10:11 AM Re: Condo Prices [Re: LaraTravelBelize]  
Joined: Jun 2006
Posts: 664
lil'red Offline
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lil'red  Offline
If you are looking at Reef Village as your price range, you might also study The Cloisters". Bob Jorlene(SP?) is building them and they are on the beach side just acrossed from Reef Village, which is on the lagoon, as you know. They start at 105k if I am not mistaken and Bob is a very well respected builder. Personally I went more custom myself. I am very happy with the contractor who is building my condo. Chris Barenfanger has an excellent reputation and builds north of the bridge, also on the beach side acrossed from Reef Village. You can visit his prior projects, every one is different and unique, and he builds as close to custom as you can ask in a condo. He has so far moved every wall for me, is giving me a roof top widows walk (I bought on the top floor)and the moved the balcony and I know for a fact that he will try to accomodate any reasonable request during the building stages. He is honest and reliable, and has been building here for over a decade. You will not need a reator in this instance, but should you purchase a property thru an agent, Chris at Pelican Properties is also my recommendation.
In any case.....do your homework. Don't rush into anything or like beachbummin said, you may end up in a song :-)

#230767 - 02/22/07 10:14 AM Re: Condo Prices [Re: LaraTravelBelize]  
Joined: Mar 2006
Posts: 1,817
JZB Offline
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JZB  Offline
I highly recommend Ambergris Seaside Real Estate! : )

#230770 - 02/22/07 10:52 AM Re: Condo Prices [Re: JZB]  
Joined: Jun 2005
Posts: 280
cakelee Offline
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cakelee  Offline
We also talked to and liked Chris at Pelican. We ended up going with Chris and Amanda at Sunrise. Amanda checks this site regularly, so you can see by her past postings that she is full of useful information! If you want more info, please PM me.

#230775 - 02/22/07 11:51 AM Re: Condo Prices [Re: cakelee]  
Joined: Feb 2007
Posts: 1,740
deadserious Offline
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deadserious  Offline
Thanks everyone for your realtor suggestions and I'll certainly look into "The Cloisters" as well.

It seems like there is a vast difference in price per square foot on the island. Is the difference really just construction/location/decoration or is it just a case of certain developments/developers getting greedy?

Also, I'd assume many locals have a hard time purchasing property on the island based on the income vs listed prices. Would you say that a condo development like Reef or Cloisters attract more locals or are they still set up to target mostly gringos?


Now back to your regularly scheduled drivel...
#230776 - 02/22/07 12:35 PM Re: Condo Prices [Re: deadserious]  
Joined: May 2000
Posts: 3,280
Barbara K Offline
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Barbara K  Offline
Condos definitely target gringos.

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