An increasing number of people want to invest in property outside of the United States. Central American real estate is typically much more affordable than North American land, making it easier than ever to buy plots, vacation rentals or developed properties for investment. If you plan to invest your savings in real estate within Nicaragua, use this guide for helpful tips to protect your investment.
Focus on Tangible Properties
There are a large number of property developers who try to sell properties that are part of future communities. Computer developed images may show you a beautiful scene, but keep in mind that until the work is done, nothing is guaranteed. Many investors have purchased properties before they were built and then were incredibly disappointed in the end result. Wait until things are built and only then consider investing your money into these properties.
Work With a Trusted Agent in Nicaragua
While there are many wonderful rest estate agents working in Nicaragua, there are also a few that are only looking out for the seller's best interest. It is important to work with someone you can trust. If an agent repeatedly shows you properties outside of your preferred area or way out of your ideal budget, you may want to look elsewhere for advice. Ask some locals for their recommendations whenever possible.
Protect Your Investment with Title Insurance
Some investors who live outside of the country are not careful about protecting their property in Nicaragua. The best way to protect your investment is to take out title insurance on your land as soon as you buy it. Use a local lawyer who can look into the past history of the property thoroughly and guarantee your full and legal ownership. Title insurance will ensure that you are reimbursed for the full value of the property in the event that a third party claims ownership to the land.
Stay Informed About Developments
It can be hard to judge which areas of Nicaragua will be developed in the future. Read local Spanish language newspapers, or ask friends to translate them for you, to stay informed about upcoming developments in infrastructure that may affect your property values.
These tips can help any potential investors to find and protect their perfect real estate investment in Nicaragua , even if they are living outside of the country.