Despite a surge in real-estate values over the last five years, prices of decent homes in Nicaragua are still more affordable than in the United States, Canada, or even Costa Rica.
The value of beach property is predicted to continue its upward trend in the future as the country becomes more popular and developed, especially with plans to build a new coastal tourism highway connecting southern Nicaragua to Costa Rica’s booming Guanacaste market. Beachfront property is being bought-up fast, and the price of this and other prime real estate is increasing as the country becomes more popular.
Before you move to the beach, you should know that the novelty of living at the beach wears off fast. Visiting the beach for a few days or weeks is very different from living there full-time. The humidity, boredom, lack of emergency medical facilities and the general inconveniences of living in an often out of the way area, are factors to consider before moving to any beach area.
Besides homes and beach property there are also farms, lots and ranches for sale at reasonable prices, depending on their location.
Drinking water accessibility is another major consideration when looking at rural properties and coastal development projects. Be very leery of development projects that do not yet have a source of drinking water, or projects that claim to get their water from on-property wells. Drinking water is a major issue in Nicaragua, especially during the dry season, when wells can dry up.
Poor infrastructure is another factor to consider. Although new roads are being built, many development projects still don’t have adequate connection to the rest of the country.
Always hired a recommended lawyer to make sure the property has a clean title history, and double check to make sure there are no liens or unresolved claims against the house.
Double check the parameters of the house or property in the Catastro Office, to make sure the boundaries of the property you are buying are the same are what the seller claims they are. And make sure back taxes have been paid (a document called a solvencia), or you will inherit the additional payments.
Make sure the seller is the rightful owner of the property or has a “poder judical” (judicial power) from the rightful owner to sell said property.
Avoid buying property sight unseen. This can – and often does – lead to future problems. |
