10 Great Reasons to Buy a Second Home in Central America

In the past, buyers of second homes gravitated toward ski chalets in Vail, hip condos in New York, and even the occasional Tuscan villa. But today, savvy investors are looking to second homes in Central America to get the most value for their money.

Now, thanks to technology, it’s no longer intimidating to purchase foreign property. Using the Internet, buyers in the market for second homes in Central America can research the communities and properties they desire without even leaving home.

The appeal of these exotic locations is great for many reasons, including:

1) Proximity to the United States – Central America countries like Costa Rica, Mexico, and Panama are all convenient to air travel. In fact, many regions now boast new or improved airports and more frequent direct flights from major U.S. and European cities.

2) Uncrowded Beaches and Ocean View Properties – The combination of great value and natural beauty are becoming increasingly difficult to find in the U.S, but places like Mexico, Panama, and Costa Rica offer these qualities in abundance. .

3) Good Opportunity for Investing – For people looking to diversify their investments using money garnered from stocks, inheritances, business profits, and home equity, a second home in an area where appreciation potential is significant makes great sense.

4) Vacation Getaways – A second home in Central America offers the opportunity to easily escape from the stresses of everyday life, relax and have fun.

5) Tropical Weather All Year – Countries like Mexico, Panama and Costa Rica offer temperate climates and abundant sunshine year round.

6) More Value for the Dollar – The rising prices of places like Arizona and Florida have made many people who want to purchase a second residence look elsewhere. A vacation home in Central America can cost less than one half what a comparable home would cost in the U.S.

7) Retiring Abroad Is More Affordable –The inexpensive prices of homes combined with a low cost of living, makes Central America an effective way to stretch retirement dollars and live a luxury lifestyle on less income.

8) Properties Offer Full Amenity Packages – Major developers are now building upscale, master-planned residential developments that offer everything anyone could want in a second home including resort-style pools, access to beaches, world-class golf courses, fine dining restaurants, upscale retailers and personalized concierge services.

9) Welcoming Attitude Toward Foreigners – In an effort to attract foreign investors, many Central America countries now offer special incentives to foreigners who retire there. For example, Panama offers retirees discounts of 10%-50% on utility bills, doctor visits, airline tickets and sporting events. In Costa Rica, there is no capital gains tax.

10) It’s Safe to Buy Abroad – As countries like Panama, Mexico and Costa Rica open their doors to foreign buyers, more rules and regulations are being established to help protect buyers. For example, title insurance, once a rarity in less-developed locations, is becoming standard. And in these countries, foreigners are entitled to the same property ownership rights as native citizens.