Happy Valentines All. Give your loved ones a great big hug!
When we visit the U.S, a couple times a year, we are often asked why we live where we do and it really is not something that can be explained in a sentence or two, but there is no doubt it should be talked about.
Each week I have new clients that have their own reasons for coming here and I thought I would take this issue of the newsletter to share some of the ‘why’ people are here and why they come here. Basically why people buy property in foreign countries.
It is the first time in over a decade that it is actually a major investment/buying opportunity to purchase real estate. The real estate ‘bubble’ and ensuing 2008 recession created and the next years that followed, generated huge losses for home and property owners in many, many parts of the world.
This huge decrease in prices in turn offered the opportunity for many more millions of people that are able to take advantage of that market downturn allowing for prices that have not been seen in over ten years. I guess the first reason now, and when we purchased our first property on the island (in 1999), is economic opportunity. In many instances the prices now are what they were then.
In the same conversation people often talk about getting funds ‘off-shore’. This is not that people have millions to ‘hide’ but, according to them, do not like what various countries are doing in regard to taxes and some are afraid that some countries just are not what they used to be in regard to opportunity. Is this only for the rich and famous? No actually, our average client is middle and upper middle income. These people can buy a home site here, for building now or for their future retirement, for about what a nice car costs there. Many buy so they can build their retirement villa later and others buy thinking that if they change their mind in five years they are buying low and it will be a good investment.
Some of the people mentioned above actually fall into the ‘we have had it, we are out of here’ crowd. Almost 3,000 people last year denounced their U.S. Citizenship setting an all time record for that event in 2013. For every one that does that there are thousands that want to protect what they have and feel that property in a foreign country is the best way to accomplish that and choose a part time residency. For many, the above citizen change is just too radical.
‘Americans Renouncing Citizenship Up 221%’ –read it here………..
I am surprised at the amount of people that ask if you must give up your U.S. or Canadian citizenship to live here. The answer is absolutely not. If you wish to obtain a residency, (not a citizenship), there are several possible options for that also.
We then have the 45-55 year olds who come looking for a different life and a different lifestyle. They have some cash but are too young to retire so they startup a small business here thinking that they just cannot picture themselves doing what they did the last 20+ years for the next 20+ years and take a hard look at the $97,000 dollar foreign earned tax credit they can get by looking at earning money off shore. This has a huge tax deduction that the IRS allows and certainly has a substantial impact on how much money you actually get to keep in your own pockets. Imagine very little taxes the rest of your life. Would that not be helpful to the retirement plans?
Then we have the people who wish to get out of the cold six months + a year and want to find their own little piece of paradise to do just that. After the winter many are going through right now and this season so far, there are probably even more this year than ever. I get it, snow can be fun. I was an avid cross country skier for many years. At some point it seems though that all the snow removal and window scraping seems to get old. Or it sure did for me anyway.
There are many reasons that one would, and in many instances should, consider a ‘new life’. When ‘all the moons align’ you will find that Bay Islands may be a great place that is a warm weather location that you love to spend time on, that you can buy at a bargain price and will generate capital appreciation.
‘Food for thought’ for many, hitting the nail right on the head for some.
When you need advice on what kind of flowers to send to a friend, who do you ask? Probably your local florist. If you want to know about a new kind of insurance you’ve been hearing about, who do you call? Probably your insurance agent.
But who do you talk to when you have a question about real estate? Unless you’re seriously considering buying or selling a home, you might think that calling a REALTOR® is not a good idea. They might make you feel pressured, or make you feel like you’re wasting their time. Some might, but not our Agents.
Ask us, you can ask us questions anytime, and we’ll do my best to provide you with the answers.
Here are some of this months new listings and offerings of special interest.
Is it time for you to get out of the cold? Time to give considerable thought to the
future? Time to buy a piece of paradise at a very low price?
Here are two home sites in Parrot Tree Plantation, one of the top end communities on the island that has really great value. Very reasonable annual HOA fees. Two to choose from.
Champaign taste/beer budget here is the first one –
VERY Prime commercial location with a large water frontage near the cruise ship port.
Two BR/Two Bath year ‘round living condo near French Harbor. Value priced
3br/2ba value priced home near West Bay-
2br/1ba spectacular views home a short distance to West Bay Beach, shopping, & restaurants.
WOW views to every direction including two shore lines. Paved concrete road, underground utilities, short walk to the white powdery sand and aqua waters of West Bay
One of the most unique properties on the island. This you should look at, land bank, save for. Something very special for that island estate home to be built on.
Four GREAT condo offers-
2br/2ba sea view – Great place for future retirement – Secure, close to everything
Another 2br/2ba ground floor, steps from the waterfall pool. Best price in complex!
Your paradise dream come true! 2br/2ba true beachfront unit. $200K less than other beachfront units on the west side of the island!
Our first offering on our sister island Utila. A bargain home site-
Here is some of the up to date news items that happened or will happen on the island –
A Brand new state of the art hospital announced-
‘Roatan Treasure’ (The islands version of American Idol)
RE/MAX on Roatan on ‘House Hunters International’ this month!
New RE/MAX specialist achieves designation
Search for anything………………
Are you wondering about anything in particular about the island? (Medical? Dental? Airlines? Restaurants? Legal Advise? Just go to the link below and place the subject in the search box and it will provide previously published information for you –
https://www.roatan-realestate.com/roatan-daily-news/
Please make sure you check out the post below regarding our show on ‘House Hunters International’.
Thanks for reading and hope you have booked your trip to visit.
Best regards,
Larry
