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#281972 - 05/30/08 03:14 AM Condo to buy in AC  
Joined: May 2008
Posts: 8
blagoves Offline
blagoves  Offline
Hello everyone,
I need some advise re: buying a condo in AC.
What are your the most preferable spots/resorts, how about new developments but reasonably priced and proximity to the best scuba diving sites?
I highly appreciate your help.

#281981 - 05/30/08 07:38 AM Re: Condo to buy in AC [Re: blagoves]  
Joined: Apr 2006
Posts: 30
Inky Offline
Inky  Offline
Any condo on the Island will put you in proximity to great dive sites. As to the complex you choose, this is a very subjective question. It depends what you are looking for.

Look carefully into Association fees & utility cost (they may be higher than you anticipate).

Talk to as many people as you can. In person is always best. This chat room is a good start Ė but will not always provide the in-depth information you will need to make an informed decision. (there are many commercial interests here)

- Talk to current residents (and neighbors) of the complex if possible. (aside from your realtor) .
- Read the Association bylaws (this can be very important).
- Inquire about the Home Owners Association / Complex Management. Some complexes have a lot of "issues".
- Consider your lifestyle: Do you want to buy in a quiet residential complex., or one that is more active, some complexes have a revolving door of vacationers (who tend to have less respect for neighbors & property). I have seen some Very Wild party's in rental condos.

You donít want to be relaxing by the pool with your kids and find yourself in the middle of something like this (or maybe you do?):

Spend as much time on the Island before you buy -
and a lot of good info will be shared over a Mojito, that you will not get from this board.

Belize is a Great Place! Take your time finding your perfect piece of paradise.

#281990 - 05/30/08 09:34 AM Re: Condo to buy in AC [Re: Inky]  
Joined: Jun 2005
Posts: 280
cakelee Offline
cakelee  Offline
Very good info by Inky.

I would think the first step would be to decide where you want to be. Dive sites are close regardless, but do you want to be in town, south of town, north of town, way north of town? Each area has its pros and cons.

Realtors and their websites can be good sources of initial info, but others who live in the area, ie owners, visitors, neighbors, etc, can answer questions about day-to-day living.

#281992 - 05/30/08 09:51 AM Re: Condo to buy in AC [Re: cakelee]  
Joined: Feb 2002
Posts: 5,255
sweetjane Offline
sweetjane  Offline
i too think inky (and cakelee) gave very good advice.

spend a chunk of time there before you buy. if you already do not know the areas or where you may want to be, you have not spent enough time there to buy something.

would you buy something at home by taking someone's word that you'll like it? if you wouldn't buy like that here, why would you do do it there?

heed the above advice, and remember, it is NOT the US, and althought there are some great and reputable professionals out there, there are always some people who would sell you anything and tell you whatever you want to hear to get you to buy.

good luck!

#282048 - 05/30/08 07:09 PM Re: Condo to buy in AC [Re: sweetjane]  
Joined: May 2008
Posts: 8
blagoves Offline
blagoves  Offline
Thanks everyone (Inky, Cakelee and Sweetjane) who responded to my last thread.
Your advise was extremely invaluable and make me really think hard whether should I buy a condo in Belize or not.
My situation is I am not financially independent, I have a job in Oregon which let me take only one month vacation a year so the rest 11 months the condo will sit vacant unless rented out. Given that I will need to make payments on this second mortgage
(it has to be a second mortgage since I do not have USD 100 grand and up hanging freely in my bank account) plus HOA fees and taxes, I want to make sure that I will collect
enough in rents for this to happen.
Is it worth renting, how much hassle does it take, how much actual profit do you make over the HOA dues plus utilities and real estate broker fees, how easy to find a renter (if I have a beachfront condo, which I do not yet and this is precisely why I am making all the inquiries to help me make the decision to buy or not to buy).
As for the particular location for the condo to buy if this will ever happen then it has to be in AC, on a quiet beachfront with no nightclubs, casinos and bars around. Would you experts know what particular place will fit this criteria?

#282054 - 05/30/08 07:15 PM Re: Condo to buy in AC [Re: blagoves]  
Joined: Feb 2002
Posts: 5,255
sweetjane Offline
sweetjane  Offline
first thing to check into is the mortgage thing. many places do NOT finance. payment expected in full.

ps - i dont own there - just telling you what i learned while deciding whether to or not. for us, doing the math, it was much cheaper in the long run to just rent someone else's place and not have the hassles...unless one is looking to sell it for profit in a few years (investment).

#282063 - 05/30/08 07:32 PM Re: Condo to buy in AC [Re: sweetjane]  
Joined: May 2008
Posts: 8
blagoves Offline
blagoves  Offline
please correct me if I misunderstood something. You are saying that the regular US bank would not provide a mortgage for the property in Belize and this is why I will need to use some local Belize bank which would not finance me?
Or you meant that getting a second property mortgage is in general harder than that for primary residence.
Sorry for asking trivial questions but I do not have any experience with this.

#282066 - 05/30/08 07:44 PM Re: Condo to buy in AC [Re: blagoves]  
Joined: Sep 2002
Posts: 10,850
Ernie B Offline
Ernie B  Offline
Are you kidding me?

Gun Control is Hitting Your Target.
#282068 - 05/30/08 07:50 PM Re: Condo to buy in AC [Re: Ernie B]  
Joined: Mar 2001
Posts: 11,010
klcman Offline
klcman  Offline
thought you fooped off to dinner laugh

_ _ _ _ _ _ _________________ _ _ _ _ _ _
But then what do I know, I am but a mere caveman
#282102 - 05/31/08 07:22 AM Re: Condo to buy in AC [Re: klcman]  
Joined: Feb 2002
Posts: 5,255
sweetjane Offline
sweetjane  Offline
every one and every situation is diff. i gave my disclaimer: i ain't no expert - just suggesting you start somewhere obvious b4 going nuts looking for info. re-read inky's post, then check w/ your mortgage folks.

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