24 Apr 2016 House Hunting Nicaraguan Style
Ever since our first trip to Central America we have been slightly obsessed with the region. So close to the states, yet so exotic. You can leave home in the morning and be at your destination for lunch. There is jungle, ocean, and volcanoes all within a few hours of each other on this thin strip of land. Best of all, its affordable, well at least for now.
San Juan Del Sur, Nicaragua is definitely not a secret anymore, but compared with areas of Costa Rica it is. We met with a real estate agent while in town and we focused in on an area outside the city on a small piece of surf beach called Remanso Bay.
I use the term “ours” as if we signed the papers, but we are not quite that close yet. The beach is wide and deep with a few homes popping up in the hills behind the sand. There is a small beach restaurant and bar in the center, catering to the bay’s population and surfers that come for the day.
It’s not the yellow house on the left, and it’s not the white house on the right.
Ok, here is the point where you need a little imagination… There is no house, yet. That’s kind of the cool part, but also very scary part. My head is already spinning with all of the cool things I could do if I was to build my dream home. The lot is a narrow lot with two completed homes next to it. If you did it right you could have amazing beach and sunset views. The piece of land is close enough to the water to hear the waves crashing, so tempting! A one minute walk and your toes are in the sand.
Reality of Realty
This is Nicaragua, not the US. You need to have the cash to play this game. There is no such thing as financing, or mortgages, almost all sales are cash. Our piece of the bay will cost $40,000 USD. Is the potential there? I think so, but with equal amounts of risk, and then you have to build in a foreign country. Once built you have another set of concerns like finding renters when you aren’t there, insuring your home abroad, finding a trust worthy manager, and the list goes on.