Loans For Nicaraguan Vacation Houses

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You don’t need to be wealthy to buy your Nicaragua vacation house. More and more exciting financing opportunities are coming on the market.

The Central American real estate market for vacation homes has been growing by leaps and bounds over the past decade. The landscape is exceptionally beautiful and the land values are almost too good to be true. Nicaragua boasts great hiking and bird watching. The sport fishing and surfing are unparalleled. It is the land of lakes, rivers, rain forests, volcanoes, artisan markets and coffee farms. Nicaraguan vacation homes have really become popular amongst those seeking a perfect getaway or for those retiring Americans looking for an inexpensive place to live and relax. Historically, the only drawback with Nicaragua real estate was that most deals were completed on a cash only basis.

It is now possible to secure financing from some of the more prominent and reputable Nicaraguan banks such as BDF, Bancentro and BAC. Qualified buyers with the right documentation can access loans of up to 80-95 % of the total purchase price. Although interest rates are becoming more competitive they still float in the range of 9-12% per annum amortized over 10 years. Most mortgages contain an option to extend the amortization by another five 5 years.

Multiple resort developments are offering developer financing. This type of financing can provide the savvy purchaser with a great deal. For example, a brand new beach condominium project within walking distance of the shops and bars and restaurants of San Juan del Sur is offering 15 year financing at 9% interest. This development is upscale and located right on the beach. Other nearby developments are offering 7 year financing on condos, ocean view lots and completed houses at 8% with a 30% down payment. Even if it is not advertised you should ask about developer financing.

Some of the bigger developments even offer another very familiar option. These developers have relationships with American style mortgage brokers. This type of American- style financing offers a longer term. The terms of interest related to these loans tend to be similar to those in the States which are very low right now.

The least common but still available means by which to finance your Nicaragua vacation home is akin to private vendor take back mortgages. These days there are an increasing number of opportunities using this method of financing. Vendors know that the credit market has dried up and this might be the only way they can sell their home.

People who never thought it would be possible are buying Nicaraguan vacation homes. Financial assistance in achieving your dream is now available. New financing options have opened the door to real estate in Nicaragua.

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Sea Turtle Watching From Your Nicaragua Vacation Home

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An undeniable benefit of investing in Nicaragua real estate or retiring to Nicaragua is the opportunity to be exposed to natural wonders that don’t exist in North America. Nicaragua plays host to several beaches that are among the few sites in the world where sea turtles lay their eggs. The sea turtles arrive in huge numbers of up to one thousand certain times of the year to lay eggs. This fascinating event is called arribadas and occurs several times per year.

There are only seven species of sea turtles left in existence throughout the entire world. Five of those seven species are present in Nicaragua including the Green Turtle, the Hawksbill Turtle, the Leatherback Turtle, the Loggerhead Turtle, and the Olive Ridley Turtle. Each of these species of turtles has been placed on the critically endangered species list or the endangered species list. The most commonly seen turtle on Nicaragua’s Pacific beaches is the Olive Ridley Turtle. The Leatherback Turtle and the Hawksbill Turtle can also be found here in much smaller numbers.

The commercial consumption of turtle eggs is a major problem facing the sea turtle. The coastal dwellers use the eggs as a food source and more recently they found there was a lucrative commercial demand for the eggs. The turtle eggs are easily sold to seafood restaurants in Leon or Managua or any other major city.

With increased knowledge of the problems being faced by the sea turtle populations there have been conservation steps taken. The protection of the sea turtles and the very important sea turtle eggs is regulated and managed by organizations like the Cocibolca Foundation. Beaches such as Chacocente and La Flor have become national turtle reserves. The local residents are allowed to take a limited number of eggs for their families in exchange for their help in protecting the sea turtle nests

Extremely interesting and turtle sensitive tours to La Flor to watch the sea turtles can be easily arranged through a number of places in San Juan del Sur. San Juan del Sur real estate is rapidly becoming a popular Nicaragua real estate investment destination amongst North Americans.

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Finding Vacation Homes in Nicaragua

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The Nicaragua real estate market has been percolating and it is ready to explode on to the world market. Second homes and retirement homes in Nicaragua are set to be a popular investment in the next few years. People are started to worry that retirement in the United States is unaffordable and cold.

Nicaragua is located in Central America where it is hugged by both the Pacific and Atlantic Oceans. Historically associated with unrest, it is now associated with colorful villages, great surfing and beautiful beaches. Direct flights into Managua are available from a number of U.S. cities such as Miami and Houston. In the past five years, the tourism industry in Nicaragua has experienced wonderful growth and the country’s infrastructure such as roads has seen noticeable improvement.

Nicaragua has a stunning natural beauty and wonderful tourism related activities. Such attractions and activities include exploring historic colonial cities, relaxing on one of the gorgeous beaches, golf, hiking or kayaking along fresh water lakes and rivers, world class surfing and sport fishing, volcano watching, canopy tours, bird and turtle watching, exploring the wonderful open air local markets or visiting a coffee plantation in the cooler mountainous regions.

Nicaragua has a wonderfully interesting history and culture and has excellent world class health care. Therefore it is no surprise that Nicaraguan property has become a popular purchase amongst baby boomers seeking to diversify a balanced real estate investment portfolio or looking for retirement homes or vacation homes. In addition to the other perks of owning Nicaragua real estate, you may also be eligible to receive some compelling tax incentives as an investor or developer under Nicaragua Law 306. Law 306 allows a purchaser certain attractive tax incentives for a period of10 years.

Foreigner investors are entitled to hold fee simple title to Nicaragua property in their own names. Title insurance is also available from some of the most reputable American title insurers to further ensure your peace of mind. Nicaraguan real estate is a very safe investment.

The Nicaragua real estate market still remains untapped, compared to some other retirement places such as Costa Rica, Belize, Florida and Mexico, and therefore many great deals can still be found. It’s only a matter of time before Nicaragua real estate becomes more expensive. Beachfront homes can still be a reasonable purchase here for the average person. Food and health care and cleaning services costs are a fraction of that in North America. The reasons to buy Nicaragua Real Estate are endless.

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Buying Real Estate in Nicaragua Includes a Rich Cultural Experience

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In my opinion, once of the most important perks that comes with buying real estate in Nicaragua is the opportunity to become exposed to the rich cultural heritage of Nicaragua. All year round there are some wonderful cultural events. Nicaragua has wonderful street play and poetry festivals and also has numerous rodeos, bull riding contests, and horse related festivals.

Nicaragua is a deeply Catholic country and many of the cultural activities draw from the Catholic faith. The months around Christmas and Easter have a number of colourful celebrations and offer a compelling glimpse into this wonderfully rich and warm cultural heritage.

The Christmas time festivities begin on November 28th when the Virgin’s statute is taken from the church so that she may visit the different communities served by the church. La purism is the most widespread of all Nicaraguan celebrations. From November 29th until December 13th, the Virgin is carried into different barrios by groups of neighbors. The joyful procession is accompanied by music, singing, a horn and drum band and a remarkable number of very loud firecrackers. During this period families decorate a portion of their homes or the sidewalk outside of their homes in tribute to various themes related to the Virgin Mary.

During this period of Purisma, a church mass is celebrated early every morning. These masses are the starting point for the days procession to a new neighborhood. A rosary is read at the barrio in early evening after which a traditional drink made from maiz called chichi and sweets are distributed to the neighbors. Later in the evening, the procession of the Virgin returns to the Church.

On each December 7th, a happy, celebratory and often times energetic “crying out” for the Virgin can be heard all over the villages, towns, and cities of Nicaragua. December 7th is the day before Dia de la Virgin Maria and it is on this day that La Griteria is celebrated. People walk the streets of their neighborhoods crying out “What causes so much joy?” People sitting outside of their homes cry out in reply “The Conception of Mary”. Although this special event originated in the colonial city of Leon, the celebration of La Griteria have spread to Masaya, Jinotepe, San Juan del Sur, and Granada and eventually spread to all of the villages and countryside of Nicaragua. Wherever you might decide to retire and purchase real estate in Nicaragua you will be able to become a part of the celebrations of La Purisma and La Griteria.

If you are attracted to sun and sand but also enjoy the enriching experience of exploring new and exciting cultures then a retirement in Nicaragua might appeal to you. There are currently some wonderful opportunities to own real estate in Nicaragua. Nicaragua is really a wonderful place to explore.

Find more information regarding retiring in nicaragua by going to San Juan Del Sur Realestate.

10 Tips For Visiting Bocas Del Toro Panama

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If you’re reading this article, odds are good that you’ve decided to visit Bocas Del Toro, Panama. Congratulations! Not only is Bocas beautiful, but it’s quite possibly the perfect vacation destination in Central America. Do you like the beach? Bocas has some of the most magnificent beaches you’ll find in the Caribbean, including world-famous Red Frog beach (named for the tiny Red Frogs that are found there). What about adventure tourism? Mountain biking, scuba and snorkeling, sea kayaking, zip-line jungle canopy tours, and all types of water sports are readily available in Bocas. If you like night life, you’ll find that Bocas Town has dozens of bars with great dining, dancing, and drink specials.

A Bocas del Toro stay is a cross between the fun you can expect from an Aruban beach vacation and the adventures offered by a Costa Rican jungle resort. And it doesn’t cost as much as the two put together, either. For about $50 a night you can get a decent standard room in Bocas Town, and for about $20 you can buy dinner for two.

Anyways, there’s a good chance you already know all of that. Bocas is great – that’s why you’ve decided to visit. Here’s a list of tips and advice for anyone new to Bocas Del Toro:

1) If you’re planning to go underwater, bring your own waterproof camera. The place has the goods: clear waters, colorful fish, and coral reefs that go on and on, and the only way you can take them with you is to snap a few pictures. Bringing your own waterproof camera (disposable cameras are OK) means that you’re sure you have it when you need it, and it won’t cost you as much than if you buy a camera in Bocas – assuming you can even find one for sale.

2) The weather is hot (around about 90 degrees F), and the streets in town are narrow. That means you will end up doing some – okay, a lot of – walking (it’s better to soak in the culture of the place that way) in very unfamiliar stuffiness because the humidity is perennial. So, unless you’re used to hot weather, be sure to bring a good pair of sandals you don’t mind taking to the beach along with some shorts and t-shirts.

3) U.S. Dollars are just fine. Most tourist destinations in Central America will readily accept U.S. dollars, but many of these places will give you a less-than-favorable exchange rate. What makes Bocas different is that the U.S. dollar is essentially the national currency, so there’s no need to worry about currency exchange. The Panamanian national currency is technically known as the “Balboa,” but since the Balboa is tied to the value of the U.S. dollar (one Balboa equals exactly one U.S. dollar), US currency is used across the country.

4) If your stomach is sensitive, it’s best to stick to purified bottled water since these are readily available, anyway. Most of the water in this tropical country comes from collected rainwater. Although it is generally safe, collected rainwater might not always agree with your system. Bottled water isn’t expensive or hard to find, so why risk it?

5) Bring your passport, not just because it is your primary ID and proof of nationality, but you really can’t get into any country without it, can you? The good news is that if you’re from the US or Canada, a passport is all you’ll need. Other than a tourist stamp, which can cost between $8 to $12, there are no visas or special permits. Extensions after 30 days are also easy to get for a nominal fee. Your driver’s license will only be needed if you want to rent a car (which you won’t need to do while in Bocas).

6) Get some supplies when you arrive. Once you’ve had a chance to check in to your hotel or bed and breakfast, visit one of the many grocery stores in Bocas and buy some snacks and water for the beach. Most of the beaches in Bocas can only be reached by the water (this is a good thing, by the way), so there aren’t a lot of beach shops, restaurants, or convenience stores. Be sure to buy lots of bottled water and sunscreen (just in case you forgot to pack some). This is also a good excuse to try Balboa, Panama’s favorite national beer.

7) English is A-O-K. An English-Spanish dictionary can be helpful, but if you don’t speak a lick of Spanish that’s perfectly fine in Bocas. From the hotel staff to the restaurant workers, you will find most Bocas residents speak excellent English. In fact, many of the people you’ll meet in Bocas are native English speakers from the US and Canada that have decided to move for good.

8) You can’t bring everyone with you, but you can keep in touch. There are Internet cafes in town where you can rent a computer for about $3 an hour. Many of them offer free VOiP calls to the US or Canada. If it’s a really long vacation, you can buy a disposable or prepaid cell phone.

9) Cross the border and visit Costa Rica. It’s not that Costa Rica is very different from Panama (unless of course you go a lot further into the Costa Rican jungles), but a quick hope to Costa Rica is a great way to get another stamp on your passport. Costa Rica is only about an hour away, and there are day tours which will take you into the jungle in Costa Rica. You can be back in Panama by nightfall or the next morning.

10) Bring a vacation mindset. Leave the hustle and bustle behind and slow your pace. You can try to hurry things up in Panama, but you’re likely to fail. Life in Bocas del Toro is easy and laid back, so always remember that YOU are the visitor there. There are things that the locals will do differently, and it won’t be because they’re rude or mean; it’s just the way they’re used to doing things. Don’t be surprised by slow service at the restaurant or a general indifference – no one in Bocas takes anything too seriously. Remember that, and you’re likely to appreciate the slow pace.

I really enjoyed my time in Panama, and I hope that these 10 tips helped so that you can enjoy yours, too.

About the Author: Jason Lancaster has spent some quality time in Panama and is happy to share what he knows about Bocas del Toro. Learn more about Bocas del Toro restaurants and hotels.

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