Cost-of-Living In Belize

A Sailboat In Belize
Source: Flickr via Creative Commons.  Photo by Dena Hayes

For people contemplating purchasing land in Belize and buying a home it can be challenging to find decent information on the cost-of-living.  Lan Sluder has written an outstanding book called "Living Abroad In Belize" which helps answer many of the basic questions that potential investors have about starting their life in Belize; including an overview on the cost-of-living.  The following is an extract from Sluder's book that I think you may find valuable:

Average Middle-Class Monthly Budget


Assumptions: 

• The couple has paid for their 150K home already.
• The couples Ford Explorer is also paid for.
• The couple chooses to buy health insurance, which includes medevac coverage, from and international insurer.

Example of Monthly Budget ($US):


Electricity (750kwh): $158
Telephone (incl. long distance): $110
Butane: $35
Groceries: $250
Cable TV: $25
Internet: $50
Entertainment and dining out: $200
Property tax: $24
Auto insurance: $20
Health insurance: $400
Out-of-pocket medical expenses: $150
Home insurance: $150
Gasoline (40 gallons): $160
Auto maintenance: $100
Clothing: $75
Householder help/caretaker (part time): $250
Misc. personal expenses: $275

Total: $2,432

Although personal spending habits need to be factored into any budget I hope that Sluder's estimates shed a bit of light on the cost of living in Belize.  If you have other sources of information that others can benefit from please add a comment.

Thanks!
CD

Top 2 Questions I'm Asked About Sanctuary Belize

I've spoken to a number of potential Sanctuary Belize investors over the past year and two questions consistently come up at some point during our conversation: 

1. Have I seen evidence of the community progressing according to the plan?

2. Do I trust the management team to deliver?

For anyone contemplating investing in Sanctuary Belize I thought that it may be worth while sharing my perspective on these two important questions.

1. Have I seen evidence of the community progressing according to the plan?

The answer to this question is "Yes" and here are a few examples of the progress:

Opening of Phase 2

Although the recent financial crisis has shaken the US real estate market the Sanctuary Belize community has continued to flourish.  Prices for lots have continued to steadily increase since I invested in my property (lot 13)  and the Sanctuary Belize management team has been able to stick to their original plan and open Phase 2 of the development.   Phase 2 includes waterfront properties that look simply awesome.  Some factors that I think are contributing to the strong demand and their ability to stay on plan with Phase 2 are:

• There is continued demand for properties nestled in outstanding locations.  To me, proximity to the Caribbean Sea, the rainforest, and the near by mountains is the essence of the phrase "location, location, location". Based on the natural elements of Sanctuary Belize the community has high intrinsic value and people realize this despite the economic downturn.

• Americans and Canadians are looking abroad for sound real estate investments beyond the borders of the US due to the instability in the US housing market.  Many are turning to the Caribbean and Latin America and are discovering countries like Belize and finding communities like Sanctuary Belize.  This is creating strong demand for premium properties like Sanctuary Belize.

Coupled, these factors seemed to have enabled the Sanctuary Belize team to continue to expand according to the Sanctuary Belize Master plan.

Homes Are Being Built

Several months ago the Sanctuary Belize team released a series of home designs and I was impressed with what I saw.  The bamboo designs seemed to be a good compliment between luxury and eco-friendliness and I look forward to being able to customize one of these designs over the coming years. If you haven't seen the designs let me know or contact the Sanctuary Belize team.  Already one private home has been constructed and I was informed that five other orders for homes have been received and construction will begin this year.  The community is GROWING.

The Marina

The Sanctuary Belize Marina is going to be nothing less than amazing!  The plans for the Marina are top notch and the good news is that the management team is bringing these plans to life.  As can be expected, the plans for the Marina span multiple years and the team is making good progress.  Recently, the development team successfully carved a 30 ft wide channel connecting the Marina to Sapodilla Lagoon and now people can navigate a boat between the Lagoon and the Caribbean Sea. With this milestone in place the team is going to be expanding the channel to 60 ft.  The dredging of the Marina Basin continues to progress and it is scheduled to be completed within the next quarter. 

Roads

All the major roads where in place when I visited Sanctuary Belize and recently I learned that the roads to Marina Island and Waterway Village have been completed. The roads within Waterway Village are currently in development.

So from my perspective, I've seen the Management Team create a vision, build a plan, and achieve some significant milestones.  In addition, while executing the plan, Sanctuary Belize has continued to generate strong demand for properties and I've seen the value of my land increase.  

2. Do I trust the management team to deliver?

The answer to this question is "Yes" as well.  For those of you who have met John Usher - you'll know what I mean - but the owner is fully committed to making Sanctuary Belize a resounding success.  John and his family live on site and he is personally managing the day-to-day operations of the project.  I think the milestones listed above are an indication of John's commitment to bringing the vision to life and his ability to get the job done.  I'm sure there are going to be some bumps along the way - there always are - but John and the team seem to be able to navigate the project well and keep the Community progressing.

If this type of information is of value to you please let me know by posting a comment or emailing me and I'll continue to provide some updates like this one.  Just let me know!

Belize Is On My Mind!!

Oh sweet Belize you're on my mind!!!

For many of us in the United States and Canada autumn has arrived and winter isn't too far behind.  It's times like this when I take comfort in knowing that my wife and I purchased some land in southern Belize in an area called Sanctuary Belize and we plan to build a home there over the next few years.

I invested in Sanctuary Belize -a beautiful up-and-coming community- in 2009 and I started this blog a month or so afterwards. It's been several months since I posted new content and it's looooong overdue (blush).  For many of the people who read my blog you'll understand what happens when you're a Dad of an energetic 3 1/2 year old.....  Time flies!  .... That being said, I've missed blogging so I'm working on a series of four stories that I'll release over the next two weeks:

Upcoming stories:

1. What's new in the Sanctuary Belize community
2. Home designs
3. Some great places to visit when in Belize
4. What does it cost to live in Belize?

I'm eager to hear what type of content would be of interest to you, so feel free to email me or post a comment to this story and share your ideas.

You can look forward to these updates (and more) over the next few days.  Here's my little gift to everyone!  Take a moment and think about Belize!


Source: Flickr: A photo by Chuck Taylor via Creative Commons.


All the best!

Chris

President Obama and Belize!

Two recent events relating to US President Obama underline the growing importance of Belize. One is his desire to visit Belize expressed at the Summit of the Americas dinner in Port of Spain. Belize’s Prime Minister Dean Barrow seems to have established a good rapport with the President at the summit and he quoted the latter as expressing his wish to visit Belize. President Obama is photographed welcoming the Prime Minister’s wife, Kim Simplis-Barrow in the accompany photo. The visit will be further facilitated by the recent appointment of the President’s friend as the U.S. ambassador to Belize.

Vinai Thummalapally, apparently a very good friend of President Obama, was recently appointed as the ambassador to Belize. Ambassador Thummalapally was a college mate & close confidante of the President for a many years. He is a mechanical engineer by qualification and was president of MAMA Inc, a maker and distributor of recordable optical disks. He formally presented his credentials to Governor General of Belize, Sir Colville Young and also paid a courtesy call to the Foreign Affairs Minister,Wilfred Elrington, last September at Belmopan, Belize’s capital city.

The fact that President Obama has chosen one of his close confidantes as ambassador to Belize can only help raise the profile of Belize and his future visit to Belize will no doubt attract international media attention and put Belize firmly on the world’s tourist map. Exposure like this is great for all investors in Belize.

Chris

John & Sandy Adkins - A New Owner Profile

Hey everyone! I’m in the process of reaching out to other Sanctuary Bay property owners and interviewing them for my blog. I thought that it may be a nice touch to share other people’s Sanctuary Bay stories with the community as well as mine. To kick things off with this new blog feature I had the chance to interview John and Sandy Adkins from Arizona who recently purchased Lot 105.

So why Belize?

John and Sandy Adkins, like many Sanctuary Bay owners, had pictured a lifestyle that allowed them to split their time between their home in Arizona and a second home in the Caribbean or Central America. The idea initially came to them

while they were on holidays a few years back in Costa Rica. After exploring some Costa Rican real estate opportunities they felt that Costa Rica was overpriced and decided to wait until the right opportunity emerged. The idea of investing in Central America was revived after a few years while on a scuba diving trip to Roatan, Honduras. They decided to explore real estate opportunities in the greater Central American area by surfing the Internet and they discovered Sanctuary Bay in Belize. To John and Sandy, Belize offered an undervalued real estate market, untouched natural beauty, access to world famous scuba diving, and chance to live amongst some of the most friendly people in the world.

Why Sanctuary Bay?

Sanctuary Bay offers the type of lifestyle that John and Sandy want for themselves and for their 10 year and 6 year old. They felt that the large lot sizes at Sanctuary Bay were a key differentiator when comparing Sanctuary Bay to other expat communities in Central America. For John and Sandy the large lots at Sanctuary Bay create the opportunity for their family to truly enjoy the natural surroundings of Belize. In addition, they were impressed by the Sanctuary Bay Master Plan and in particular they plan to enjoy the Marina and the vast amounts of conservation areas. Lastly, to the Adkins it’s a real treat to have the world class diving so close by.

First Impressions of Sanctuary Bay?

When the Adkins visited Sanctuary Bay for the first time they felt that Bill Bannon, Director of Operations at Sanctuary Bay, had properly set their expectations so they had an idea of what to expect. “To be honest, we weren’t expecting too much since we knew that Sanctuary Bay was in phase 1 of its development”. They had also been to Belize before so they knew what to expect from Belize’s pristine environment, great weather, and overall economic environment. The factor that stood out most for John and Sandy and influenced their purchase decision was John Usher - which is something that I hear time and time again from other investors. The Adkins’ explained that John Usher’s, the President of the Sanctuary Bay, passion and drive” is admirable and will be factor that makes Sanctuary Bay a community that will stand out from others”.

Hey ... so what are your plans?

John and Sandy are in the process of moving their construction business from Arizona to Sanctuary Bay this Fall and will build their home on Lot 105. They feel that it makes perfect sense to expand their business to a market that is continuing to grow relative to the Arizona real estate market which has been significantly impacted by the recession. If you are interested in learning more about John and Sandy’s business please feel free to send me an email and I’ll pass your contact information on to the Adkins. Their website will be up and running soon and I’ll share the link with everyone once it is live.

The Adkins -like many of the Sanctuary Bay investors- plan to split their time between North America and Belize and enjoy an an ‘outdoorzzzzy’ lifestyle in one of the planet’s most beautiful countries. Sandy explains that on the top of their to-do list are things like scuba diving, horseback riding, hiking, and enjoying the company of some of the ‘nicest people’ in the world.

Chris

An Awesome Jaguar Reserve Video

One of Belize's great treasures is the Jaguar Reserve which is in Cockscomb -- not too far from Sanctuary Bay. The Reserve has been around for more than 20 years and is the only one in the world. The video is a high quality video that illustrates the beauty of Belize. It's certainly worth taking the 3 1/2 minutes to view it.

-Chris

A FUN Lonely Planet Video on Belize

Hi everyone. A few people contacted me recently and asked if I could recommend some Belize videos to them. I actually have a bunch of YouTube videos that I checked out in the past when making my decision to invest in Sanctuary Bay and I thought that I would start sharing some of them with the greater community.

I got a 'kick' out of this Lonely Planet video on Belize and I wanted to share it with you. The dudes who made this did a GREAT job.

Chris

Ocean Home Magazine profiles Sanctuary Bay

Sanctuary Bay was highlighted in Ocean Home Magazine earlier this year and I wanted to share the article with you. In the story John Usher, the President of the Sanctuary Bay project, shares his mission statement for Sanctuary Bay with the reporter:

“Our mission is to preserve this piece of paradise by building high-quality resort living while leaving behind a minimal environmental footprint. As such, we chose to develop only a small fraction of the 14,000 acres, and leave six-and-a-half of the seven miles of coastline untouched.”

Link to article:

http://oceanhomemag.com/sanctuary-bay/

Sun Spots

Hi everyone!  I hope that this posting finds you well.

I was recently speaking with the people at Sanctuary Bay and the project is proceeding very well.  They just released the updated Master Plan for the community which can be found at www.sanctuarybay.com/docs.  I'll be blogging more about the Master Plan later in the week, but I wanted to pass along an article from the the April 27th edition of Canadian Business magazine which I recently stumbled upon.  The article describes some of the great investment opportunities in South America, Central America, and the Caribbean; including Belize.  I thought that some of you may find this article helpful and wanted to pass it along.  

Sun Spots - By Ayah Victoria McKhail

Canadian Business, April 27, 2009 Edition

Despite plummeting real estate prices worldwide, not everyone's willing to give up on this traditional investment. Some are setting their sights down south, buying up properties in popular hot spots such as Belize .... 

Link to full article:

http://www.canadianbusiness.com/managing/strategy/article.jsp?content=20090427_16702_16702

The Financial Post Reports That "Life's a Beach In Belize"!

In October (2008) the Financial Post ran a great article on Belize called "Life's a Beach In Belize".  It includes an insightful recap on the following:

1. Belize's history (nice and concise)

2. Overview of it's eco-tourism industry

3. A snap-shot of some celebrities who have decided to invest in Belize

4. Insight into the real estate market

5. Overview of retirement programs

It's definently worth the read if you have already invested in Sanctuary Bay or if you are considering it.  

Cheer,

Chris

Belize Hotels and Resorts Amongst The Best In The World

On the night of the Oscar's (Feb 22, 2009) I thought it would be fun to share some great news about how Belize ranked in the 2009 Traveler's Choice Awards!

TripAdvisor's 2009 Travelers’ Choice Awards has recognied Belize as having some of the best hotels and resorts in the world.  Some of the Traveler Choice Awards categories that Belize was recognized for are:

• All inclusives resorts
  
• Luxury resorts
  
• Hidden gems resorts
  
• Romance resorts
  
• Family travel resorts
  
• Best bargin resorts 
  

In total nine hotels and resorts were recognized in TripAdvisor's poll.

So what does this mean for Sanctuary Bay investors?  In my opinion, such great press re-assures me that there is growing demand for the "Belize experience" and this demand holds well for Sanctuay Bay property owners:

• The tourist industry in Belize is still in its infancy and this ranking certainly reinforces the fact that Belize is approaching the developmen of their tourism industry in the right way.  Already it is being recognized as a top destination.
• As more people explore Belize there may be greater demand for owning property in the country -- thus driving up property values even more for investors who are 'getting in' during phase 1 and phase 2 of Sanctuary Bay.
• For those of us who are planning on building our homes sooner rather than later and renting out our places, there seems to be an existing and growing market for high quality resorts/homes.  

All this to say, the reports that argue that Belize is an undervalued and up-and-coming destination seem to be bang on!  

Two weeks ... but the blog is now live!

On December 13th the Ottawa Citizen newspaper ran a story on my family’s Belize endeavour and in the story I made reference to the fact that I would be launching a blog.  I think I mentioned to Sheila, the journalist who interviewed me, that I would be launching the blog in late January.  As I look at my Blackberry I realize that it’s Feb 16^th, 2009 so I’m a few weeks late with the launch -- but here it goes!

Tada!  The blog is intended for anyone interested in following the development of Sanctuary Bay and I hope that current and potential owners find value in the blog as well as anyone who has a general interest in Belize and these types of real estate endeavours.

To make sure that I’m delivering valuable information I plan to gather project updates from Sanctuary Bay, reach out to other owners and understand their plans for their land, share research on living in Belize, and providing summaries of general events in Belize.  To help make this blog relevant to you I’d really like to hear your thoughts and comments on my postings.  Please feel free to leave comments or email me (christopher@digital-endeavor.com). 

Cheers,

Chris

Taking A Step Towards The Lifestyle We Desire!

Taking A Step Towards The Lifestyle We Desire!

Well my wife Patricia, my daughter Néa (2 yrs), and I decided to take a giant step forward towards the lifestyle that we desire; a lifestyle that will allow us to spend a portion of the year in Canada and a portion of the year exploring the tropical paradise of Belize.  We look forward to boating on the Caribbean sea, trekking through the rainforest, caving, spending time in unspoiled villages, dancing to the drums of the Garifuna, and who knows what else.

We decided to buy 1.4 acres of land in Sanctuary Bay, which is located more or less between Dangriga and Hopkins in the Stann Creek district of southern Belize.  Sanctuary Bay is a community that is currently in phase 1 of its development but over the next 5 years John Usher, the owner of Sanctuary Bay, and his team are building a luxurious eco-friendly community that will be equipped with a marina, a commercial area, landing strip, and other great amenities.  For the time being though, we are proud owners of a GREAT piece of jungle that is about a 20 minute walk (at a very leisurely pace) to the Caribbean Sea.  Our back yard looks out to the Mayan mountains and we are a stone through away from a beautiful lagoon and river. Over the next two years we plan to build a guest home so that we can start enjoying our investment and then we plan to build a main home that blends our desire to be stylish and eco-friendly. 

Family, friends, potential investors, and people who are just naturally curious about our investment seem to ask us two questions; Why Belize? And Why Sanctuary Bay? I thought I would share some of these reasons with you.

Why Belize?

• Amazing natural beauty including tropical rainforest and the second largest barrier reef in the world
• We can escape the rat race and relax in a tropical paradise filled with friendly people and a laid back Caribbean vibe.
• It is the only English speaking country in Central America making business and real estate easy to navigate for English speakers
• Belize boasts a long standing history of a stable, democratic political system
• Commonwealth country with legal and governmental systems based in English Common Law. This is a familiar system for many investors
• Currency pegged to USD ($2 Belize = $1 USD)
• Great financial incentives including no capital gains tax in addition to other incentives for business owners 
• Belize has yet to be flooded by foreign investors. This has kept prices low, unlike the already flooded markets of many Caribbean Islands, Costa Rica and Mexico
• Property prices are on the rise creating a good return on investments
• Carnival cruise lines is investing $50,000,000 in their Belize City port
• Both Canada and Europe are working on adding direct flights to Belize, which will increase tourism and bodes well for property values
• Non-Belizeans may own properties and businesses with 100% title and no restrictions on location
• Belize has an amazing retirement plan

Why Sanctuary Bay?

• Sanctuary Bay is located in what many consider to be the most beautiful part of Belize, the south.
• The community sits on the Caribbean sea
• Preserving the natural beauty of Belize is paramount to Sanctuary Bay.
• 12K acres of land are being reserved for wildlife
• The community has lush forest and an abundance of wildlife, flowers, and plants
• An outstanding 70-slip marina is in development
• Amenities such as restaurant, markets, doctor’s office, etc. are part of the master plan for the community
• A landing strip is planned for Sanctuary Bay
• An equestrian centre is planned
• John Usher and his team have a reputation for getting things done

Whatzzz the word on Southern Belize?

Many people that I spoken to over the past 2-months about Belize have asked about what the southern part of the country is like.  I’m collecting a number of extracts from various sources which provide some insight into just how fantastic Southern Belize is.  I’ll keep adding to this this list as I come across good sources of information.

Extract from Lan Sluder’s book entitled "Living Abroad in Belize"  (2005)  on the topic of Southern Belize. 

“Southern Belize has the best beaches on the mainland and some of the most dramatic scenery in the country.  The region is comprised of two districts, Stann Creek (this is where Sanctuary Bay is located) and Toledo, which together have a population of almost 50,000, predominantly Maya and Garifuna, and also many Creoles, and Mestizos.  Four areas of particular interest to those relocating, retiring or visiting Belize for an extended period –or for those looking to buy property in Belize – are Hopkins Village (close to Sanctuary Bay) , the Placencia Peninsula, and Puta Gorda.  The main road through this region is the Southern Highway, almost all of which has been paved and upgraded.  It is now the best road in Belize. Climate is a big draw for Belize, and Sothern Belize has the most tropical climate in the country.  (p. 155)

Link to Lan's book!

Extract from Belize Media Center on Southern Belize:

"Known by many as "The Forgotten Land," Southern Belize's undiscovered landscapes serve as a threshold for lush rainforests, ancient Maya artifacts, fascinating cultures and enough eco-adventures to impress even the most discerned traveler. As the most sparsely populated region of the country, Southern Belize is the perfect find for those searching for the opportunity to venture off of the beaten path and taste some of the rich natural and cultural diversity Belize has to offer.

The geography of Southern Belize, which include the Stann Creek and Toledo Districts, differs considerably from the country's other regions. Its watershed to the southeast from the Maya Mountains creates numerous short rivers that rush through slopes combed with overhanging ledges and caves, housing hundreds of Maya artifacts. The rivers, carrying sand, clay and silt, have enriched the coastal belt over the years, making this area of Belize a haven for agricultural products such as citrus and bananas."

Launching January 2009!

Hey everyone!

I'm in the process of setting up my Sanctuary Bay blog. The blog will be officially launched in January 2009 and I plan to blog about:

• My family's plans for our property in Sanctuary Bay
• Updates on other owners and their plans
  
• Project updates from the Sanctuary Bay group
  
• Profiles on the people developing Sanctuary Bay
  
• Tips and tricks for living and traveling in Belize
  
• General news from Belize

If you are interested in following the Sanctuary Bay endeavor sign up to receive regular updates via email or RSS feed.

Chris Dodge