Science Horizons

There are many baby boomers the world over that are trying to figure out their retirement plans. Choosing an affordable tropical retirement destination is actually a reality for many soon to be retirees. Nicaragua should be on your list of possibilities, as the benefits are far to numerous to ignore.

The cost of living in Nicaragua is probably one of the biggest benefits for many of the current ex pat residents. Food costs are extremely low compared to typical first world markets. Seasonal produce, fruits and vegetables, dairy, poultry and beef can all be obtained from local markets, as well as well stocked modern grocery stores. Basic food costs are typically a half to a third of the price in the US.

Every part of Nicaragua has something different to offer a retired couple looking for authentic Central American culture. Everywhere in Nicaragua you will find the same slowed down pace of life. You will have time to enjoy a beautiful ocean sunset, wander through Colonial towns, go for a walk on the beach, enjoy a book in a hammock, or visit with locals and other expatriats.

Planning for the weather becomes much less of an issue when you live in Central America. The weather is warm all year round, and there are just two distinct seasons – the warm dry season, and the warm wet season. The other notable weather pattern are the almost year round offshore winds, which help to keep the heat in the dryer hotter coastal towns at bay. If you prefer a more temperate climate, you may want to consider the central and northern mountains, where the cooler wetter climate at altitude creates the perfect environment for world class coffee farms.

It has only been quite recently that the already value priced Nicaragua became even more attractive, as world economic conditions led to a slow down in almost every real estate market. Nicaragua had recently enjoyed a mini real estate boom, but still managed to remain relatively inexpensive compared to other Central American investment and retirement locations. Now with the economic slowdown, a number of previously unavailable opportunities are presenting themselves. For example, a North American style vacation home with ocean views can be found for under $200,000, whereas the equivalent property may sell for two to three times that amount in Costa Rica.

You owe it to yourself to consider Nicaragua as a viable retirement destination. The land of lakes and volcanoes is sure to capture your heart. You will be able to enjoy a retirement lifestyle that exceeds dreams for less money than you would think. Do some research into Nicaragua real estate and see for yourself.

Jane A Moore Destinations central america, central america real estate, Destinations, international real estate, nicaragua, nicaragua real estate, nicaragua realty, real estate, real;estate, vacation homes, vacation property

Nicaragua vacation homes are more affordable than you would think. Each day brings more exciting financing opportunities to the market place.

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 for foreigners to secure bank financing in Nicaragua. This type of financing is offered by from some of the more reputable and prominent Nicaraguan banks such as BDF, Bancentro and BAC. With the proper documentation qualified buyers can access loans of up to 80-95 % of the total purchase price including closing costs. This type of financing is becoming harder and harder to get in North America. Interest rates are becoming more competitive but they are higher than most rates in North America. These rates float in the range of 9-12% per annum amortized over 10 to 15 years. Most mortgages contain an option to extend the life of the mortgage by another 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 have specific arrangements with American style mortgage brokers. You actually apply for financial assistance from an American bank. This type of financing option offers longer term financing deals on very competitive terms and at very generous interest rates. With this type of financing you feel as though you are buying in the US or Canada.

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.

Financial assistance in buying your Nicaragua vacation home is now available. These financing options have made Nicaragua real estate more attractive than ever. These options coupled with Nicaragua’s low cost of living make investing in Nicaragua Real Estate more interesting than ever before. Financing your Nicaragua vacation is now a real possibility.

Jane Moore Travel beach homes, central america, central america realestate, nicaragua, nicaragua realestate, nicaragua realty, real estate, real;estate, Travel, vacation home financing, vacation homes, vacation property