One look at the surprisingly low prices of property in Nicaragua is often enough to pique interest among investors, but the affordable cost of real estate is just one aspect to consider before making a purchase.
Location is vital, and beach access is often something that investors are after in Nicaragua. You'll also want to think carefully about what you want from the property and whether you plan to live there yourself. Here are some helpful tips that make up the beginner's guide to purchasing real estate in Nicaragua.
Choose the Perfect Location
Nicaragua is more than 50,000 square miles in total area, which means that there are a lot of different places where you could invest in real estate. However, many of the investors who are interested in buying property in Nicaragua are really after a coastal location. The coast is where most tourists plan to spend their time; the weather is more stable, and of course, you gain access to the gorgeous white sand beaches for which Nicaragua is so well known. Before you consider a specific property, find the location that appeals to you most. Communities and neighborhoods like the Gran Pacifica are often best for convenience, amenities and potential resale value in the future.
Pay Attention to the Local Infrastructure
If you are coming from a highly-developed country, you might forget that standard utilities and paved roads shouldn't always be taken for granted. Some people are eager to get away from it all and escape the rat race with a bungalow in the jungles of Nicaragua, but most investors want regular and affordable electricity, sewage and water. Thankfully, there are plenty of options available, and the government is investing in the country's infrastructure in a big way to attract additional foreign investors.
Decide What You Primary Goal for the Property Is
Before you make the investment on real estate in Nicaragua, make sure you can identify the objective of the purchase. Some people want to bring in rental income, some want to enjoy a beautiful vacation home throughout the year, and others simply want to own their own slice of paradise for retirement in the future.
Owning real estate in Nicaragua can be a smart move from a personal and financial point of view, especially when you make a careful decision about the purchase.