In the Cayo District / San Ignacio, Belize, for about US $100,000 you can get a nice, well-built, well-finished, 2-bedroom, 1 or 2 bathrooms, wooden cabana-style building, which would be around 2,000 square foot with a galvalum roof with a good amount of land. For this amount, the house will be in a good, safe location, located close to restaurants and shops. This would not be a North American style home. Instead, it would be tropical construction. We don’t have winters so you don’t need insulation. You would have a single hardwood wall and you might have a cathedral ceiling. It’s not bad. That’s actually what a lot of people are looking for because it is basic, simple, but it’s good enough because half the time, you are going to be outside anyway. You don’t lock yourself up inside your house.
For $200,000, you could get a bigger house with a bigger lot in a better location or with a cement construction.
In Belize, you can’t find a home in a selection with a set price. They are all over the place. People try to get the maximum they can so you have to look around and see what is available. If you don’t see what you want, consider building your own because sometimes, you just won’t find what you want. I sell mostly raw land and farmlands. We don’t sell many homes. Often, we encourage people to build their own homes because, that way, you get what you want.
A fifth of an acre of land can be as inexpensive as $10,000 to $15,000 on the low end, while in a good location, it would cost around US $25,000. Obviously, there are more expensive options but if you come to me with $20,000, I could sell you a decent lot around town with utilities such as pipe water, electricity, and probably cable. For an acre of land, I have options in very good neighborhoods. For half acres, the price could start at $35,000. Whole acres start at $70,000 in a high-end neighborhood with good views; something nice. And I can get a whole acre in another location starting at $38,000. All of these prices are for lots that are serviced.
There are no condos in the Cayo area. We have been talking about building some but we are still exploring the market and haven’t built any condos yet. Part of the reason is because, unlike Placencia or Ambergris Caye where land is a real premium, we have a lot of land out here in Cayo. There is a lot of space so there is no need to cram people into one little location.