Posted By: Dee193
Condo Wanted - 01/05/03 07:50 AM
Happy New Year!
I'm interested in purchasing a condo on Ambergris Caye, for under $100K.
Any leads would be appreciated.
Posted By: skullyboy
Re: Condo Wanted - 01/05/03 09:06 AM
Me too if there is such a thing
Posted By: susangg
Re: Condo Wanted - 01/05/03 11:36 AM
How about TWO condos for under $200,000????
(We cannot sell one unit; its forbidden by our CCR's. The good news is that this rule keeps Paradise Villas free of timeshare disease.)
Check out the various realtor pages. Many new condo properties have incentive pricing available to jump start sales. Banana Beach has very attractive pricing and high occupancy if you are looking for a return on your investment. If you are looking for a condo to live in, Paradise Villas may be an option for you. You can purchase a single unit in PV. It can be a bit noisy at PV, a lot of vacation renters and close to bars/neighbors.
Timeshare is not a disease, but an affordable alternative to those who cannot afford whole ownership or the stress of owning a second home. Just as many share ownership in a resort complex such as Paradise Villas, many choose to share ownership in one particular unit.
On the contrary, timeshare or fractional ownership resorts can be better as renters are rarely found as occupants but rather owners return to enjoy their investment.
Why buy the whole thing when all that may be needed is a week or two.
Shared ownership is a global concept experiencing unprecedented growth. Business jets, sailing and motor yachts, exotic cars and condominiums can now be shared to enjoy the benefits of equitable ownership but share the expenses incurred with the same.
Posted By: susangg
Re: Condo Wanted - 01/15/03 12:18 AM
Dear CreoleMonster: You are wrong. The Paradise Villas CCR's do NOT allow subdividing in any form, including the dreaded "timeshare."
While I am aware that a couple of real estate agents are purporting to offer single units in Paradise Villas, the buyers will not be able to take clear title unless and until those CCR's are changed. That is why I am selling both of my units, I cannot sell one only and give the buyer clear title under the CCR's.
. While whether timeshares are good or bad for Belize and the property owners (I consider them to be a negative and there is much research that backs up that view) is a matter of OPINION about which reasonable people may disagree, what the CCR's allow Paradise Villas owners to do or not do is a a matter of FACT. You ought not give out inaccurate information about such matters.
If you think you know more about the Paradise Villas CCR's than I do (being one of the owners there) please be so kind as to identify yourself and state the basis for your "knowledge" of this legal matter. Are you a Paradise Villas owner? What is your name?
Your statement about Paradise Villas being noisy due to adjacent bars and restaurants is also inaccurate. There are no "bars" adjacent to (or even near) Paradise Villas, other than the palapa hut restaurant in front of the Paradise Hotel, and it is only open for breakfast and lunch. It does not generate "noise." There is a bar in the Paradise Hotel grounds but it has been closed for at least a couple of years. The nearest bar is at the end of the Hustler dock and it is only open one or two nights a week. It is far enough away not to create noise, even on those rare occasions when there is live entertainment. Behind the Paradise Villas is a real estate management company and a hardware warehouse.
More wrong information!
I sense an agenda here, but I don't know what it is. Who are you?
Posted By: tincup
Re: Condo Wanted - 01/15/03 03:32 AM
Susan - sorry to disagree, but the bar at the end of the Hustler dock IS noisy, mostly Wednesday night (ladies night). Your units are set back as I recall, and you may not hear the music from there as much as the units closer to the beach.
Posted By: Dee193
Re: Condo Wanted - 01/15/03 07:18 AM
Thank you all for your input ...
Susan, I was the one who contacted you personally a few wks ago about your condos...they look gorgeous, and I thought the location is fine, but I just don't have enough equity in my home to afford them.
BTW-- I've been to the island many times, and it'll take more than a coulple of loud bar nights to keep me away.
As for timeshares, it's just not my thing. Too prohibitive. I want to be able to use the place on a whim.
I've also discovered that there are not many true condos on the island. Some properties limit the amount of time the "owner" can stay at their own suite--to anywhere from 2-4 weeks a yr. I can't see paying over $100K for that, plus I'm suspicious of the small print/ Then there's the ownership fees....
Yes, watch the fine print for condo rules and management. If the person selling you the condo is also the management agency which then rents it out, they are focused on their share of the rental $ after you purchase the unit. There is no incentive for the management to then please you - they already have your money. One condo/hotel that sells units under $100,000 would not even guarantee you could stay in your own unit when you vacationed. Maybe they changed that strange rule. Read any contracts carefully and have them reviewed by a US lawyer. Most condo sales and management are operated by ex-pats from US and England. Great island and great people. Just do your homework before purchasing.
Posted By: susangg
Re: Condo Wanted - 01/17/03 06:51 PM
One of the advantages of Paradise Villas is that it is a regular condo development, without the "captive management" provisions that most of the other so called condo developments have built in.
This means nobody can tell you how you use your condo, who you must hire to manage, when you can visit, what you must rent for, etc. There are rules just like all condos, but they are for the benefit of the owners, to prevent owners from running laundries or other commercial businesses unsuitable for residential properties, and the rule against subdividing prevents owners from turning their units into timeshares (which are detrimental to property values and increase management costs for everyone.)
Caveat emptor is always a good rule and nobody should buy a condo anywhere without first seeing the CCR's.
But I disagree with the "get a US attorney" advice. US attorneys rarely are familiar with Belizean law. If you want legal advice on property law in Belize, you need to hire a Belizean lawyer. But if you do that, get a retainer agreement in advance for hourly fees. Don't agree to pay a percentage to the lawyer. They don't do enough work to justify a percentage unless you are involved in a complicated deal.
Posted By: TravelinMan
Re: Condo Wanted - 01/19/03 06:50 PM
I don't think that you will find anything on the Island for less than 100KUSD that you will get a title to. There are a couple of new condo developments that are fairly affordable I am just not sure about the details. Contact a real-estate agent in San Pedro for more info. If you are considering Paradise Villas and would like a larger selection then just the Garden view unit that susangg has you can contact me about both Ocean Front and Poolside units in the same complex. [email protected]
Good luck on your quest.
Posted By: calkids
Re: Condo Wanted - 01/19/03 08:35 PM
We are looking for same, Looking for 3 people to invest in condo at 50K per [email protected]