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Retiring in Belize? Consider These Real Estate Options

Posted by Chris Williams on Nov 29, 2019 1:08:55 PM

 

 

The term “planning for retirement” usually refers to financial savings, but it can also mean deciding on where you want to live when you no longer have to commute to an office, put in long hours, and can finally spend your days relaxing and enjoying the things you value most. If your retirement planning includes a move to Belize, either full-time or part-time, read on to learn all about Belize retirement real estate.

Now that you have decided to retire in Belize, you’re on the hunt for the perfect home and community.  Orchid Bay, Belize is a community of like-minded individuals who value the exotic paradise of Belize. There are homes for every type of retiree at Orchid Bay, but which one is right for you?

Beach Villa

Of all the homes at Orchid Bay, the Beach Villa offers the largest amount of living space. Therefore, if you love to host family and friends and want your own slice of paradise on a private beach, then the Villa is your best choice.

The Villas have open floor plans, two stories of covered patios, and homeowners have the option of adding a covered rooftop deck, all of which are excellent for entertaining. Designed by world-class architects and built with precise attention to detail and refinement, the Villas are among the most exquisite real estate offered in all of Belize.

The Villas provide the most spectacular views of the sparkling Caribbean Sea. However, as real estate is all about timing and location, not surprisingly, the most desirable Villa locations are available on a first-come, first-buy basis. 

Beachfront Condos

The Beachfront Condos at Orchid Bay offer many real estate benefits for retirees over other condos in Belize. For starters, if you are looking for the comforts of oceanfront condo living but want fewer neighbors, which means more privacy and less noise, then an Orchid Bay Condo is for you.

While most beachfront condos have smaller spaces, Orchid Bay takes a different approach with its layout and design. The Beachfront Condos offer a full-size kitchen, large-sized bedrooms, and roomy closets – to combine efficiency without sacrificing space and comfort. All Beach Condo units are located right on the sand, and each one offers unobstructed views of the Caribbean waters. The Condo towers also have convenient elevators, so you don’t have the hassle of having to climb stairs.

Each condominium tower has only six units. As many residents don’t live in their condos full-time, this assures that the time you spend at your Beach Condo, is quiet and you have your own private retreat without the worry of disturbing your neighbors or vice versa.

Bungalows

The Bungalows are a more affordable home option that comes with a spacious covered patio, modern finishes, and puts you only a short walk away from the waterfront. They are located in the heart of Orchid Bay, which puts you closer to the fabulous amenities the community offers.

You can choose from a 3-bedroom/2-bath, 2-bedroom/2-bath, 1-bedroom/1-bath bungalow, or a brand-new floor plan just recently launched, called 2-Bedroom XL. The 2-Bedroom XL shares the same square footage and similar layout to the 3-bedroom/2-bath floor plan, except the major difference is that the master bedroom is significantly larger. For couples who plan to live in their Bungalow full-time, this is a preferable option, with the extra bedroom available to offer guests.

Benefits of Buying Real Estate in Belize

Belize is a favorable destination for American retirees to invest in real estate. Besides the fact that the country offers year-round tropical weather, friendly and welcoming locals, beautiful beaches, and endless activities to enjoy, owning real estate here is beneficial for retirees for a host of other reasons.

English is its official language, so there’s no having to translate real estate contracts and official documents. Additionally, there’s low property taxes and no estate or capital gains tax. Belize allows 100% foreign ownership of property and businesses, and British Common Law protects your assets.

Belize is affordable for American retirees as your money goes a lot further than it would if you retired in most U.S. cities. US Dollars are accepted everywhere because the Belize Dollar is pegged to the US Dollar at 2:1.

Belize has a Qualified Retirement Program (QRP), which offers retirees who are 45 and older, valuable tax benefits. This includes not having to pay taxes on foreign earned income, and you can import personal goods tax and duty-free. Qualified retirees just need to prove they have retirement income or another form of regular income that’s at least $2,000 a month or $24,000 a year. You must also live in Belize for at least 30 consecutive days per year.

Home Ownership Advantages at Orchid Bay

Located in northern Belize and developed by Legacy Global Development, Orchid Bay is a gated, master-planned community situated on a 114-acre site in the Bay of Chetumal. It combines modern comforts with a laidback Caribbean lifestyle. The development provides small-town accessibility, connectivity, and convenience, with the backdrop of beautiful natural scenery featuring pristine beaches, canals and basins for easy navigation around the community, and 10 percent green space set aside.

Orchid Bay’s amenities include the Tradewinds Beach Club and Restaurant, and under development is a 13,000-square foot new beach club with a 2,000-square foot swimming pool, a gym, a restaurant, bar, lounging decks, hammocks, day-beds, and private beach access.  An on-site grocery store and medical clinic are also projected to open in the future.

Owning real estate at Orchid Bay comes with even more benefits when home buyers take advantage of its Paradise Payment Program and optional Rental Program.

The Paradise Payment Program allows qualified buyers to finance their homes directly through Legacy Global Development. Terms include a low down payment and affordable monthly payments that work within your retirement budget. This program was designed to make homeownership at Orchid Bay more accessible.

For those who are looking to offset the cost of owning real estate at Orchid Bay, they can participate in an optional Rental Program. This program generates rental revenue for owners while managing the entire process of marketing the home, providing first-class hospitality for guests, and ensuring the house is well-maintained while owners are not on-site. It comes with a 3-Year Rental Guarantee, which makes buying a home at Orchid Bay an even more rewarding real estate investment.

Retirement and relaxation go hand in hand, which is why Belize is a desirable destination for retirees, and owning at Orchid Bay comes with even more perks. You can retire in paradise affordably, while living in a community of like-minded individuals, enjoying modern amenities, and having a spacious home that’s large enough to host your family and friends. 

If you are interested in retiring in Belize, contact Orchid Bay to learn more about the community’s homes, and why investing in Belize real estate is an excellent choice.

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