Seven Steps to Nicaraguan Property Success

Buying property and investing in Nicaragua is easier than you might think but there are still a few rules you should stick too.

We hope you find our seven tips to remember useful. Happy investing!

1. Work out what market is right for you and focus there. In this respect there is little difference with property investment anywhere. A bigger gamble can reap larger profits but here your gamble might mean buying off the beaten track with few amenities.If other speculators catch up with you then your investment will accumulate.

2. Don’t believe the hype. In most developed countries what you read is, by law, what you get. In Nicaragua you need to find advisers you can trust and don’t be fooled by anybody’s spin. There is no comeback if you’re taken in by the hype and exaggeration. Buyer beware. Check your info from as many sources as you can.

3. Understand the link between tourism and real estate. You want a good investment – then check out where tourism is growing because real estate prices will follow. But if you just want a holiday home, in the truest sense of the word, find property in an established resort. Rental returns will be highest that way too.

4. Choose a good attorney. Gain an understanding of the local expertise. English speaking is obviously good, if you struggle with the Spanish. But you also have to know that they will commit to regular communications with you. Some real estate developers will try and persuade you to use their team for property purchasing. Our advice? Get independent legal advice at least to review the contract.

5.Make title insurance non negotiable. It might be bureaucratic and cumbersome but we recommend taking out title insurance for all property purchases in Nicaragua. Seeking it will also ensure that you attorney digs a little deeper into the title history of your property and follows a set of criteria for its reporting. Make sure you seek out well-established title insurance companies with good local track records.

6. Don’t assume you can finance your purchase. You might find it very hard to get a loan here and even harder to get competitive rates.

7. Give something back. You are buying into a community. At every level it is in your interest to give back and to help that community prosper. What you give is up to you: employment, your time or resources. It’s also a great way to make friends and to be accepted.

This entry was posted on Friday, June 8th, 2007 at 4:23 am and is filed under Property Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.