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FARM LAND TO PURCHASE

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Boweigo
  6/10/2016 10:28 EST

I posted earlier about investing in Belize and got a lot of advise. I took them in stride and will make my decision when I visit the country in September of this year. I also went on various sites and learnt a lot about the country. A lot of the farm land seems to be located in the south of the country and Cayo. Does anyone have an idea how much farm land would go for per acre? I have seen as low as 800/acre to 2000/acre. One bit of information I have gotten is that the land being advertised online is less than 5% of available farm land for sale. It also seems to be a lot more expensive then the land not being advertised. Also is owner financing limited to foreign owners or do citizens of Belize also offer this option? Thanks

bobbyveee
  6/10/2016 11:33 EST

Hi there. I understand most of the successful farming is done by the Menninites around Spanish Lookout as that is the most fertile area, the problem with the South is rainfall ,upto 160" a yr. Im sure the only way to buy decent land at a reasonable price is having boots on the ground. Good luck.

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Boweigo
  6/10/2016 12:01 EST

Yes, I read that valley of peace is a fertile area. I am looking at a couple of commodities and the heavy rainfall might actually be a benefit with regards to one of the produce.

bobbyveee
  6/10/2016 12:44 EST

I would assume that land down south might well come cheaper than the fertile are at SL Not sure what the roads are like into agri areas down south, especially if your going to have to haul heavy loads.

Boweigo
  6/10/2016 13:11 EST

i am assuming that there are companies which lease out heavy duty equiptment? It actually may be cheaper to bring in used dozers from the States.

bobbyveee
  6/10/2016 15:12 EST

There are a few heavy construction and quarrying companies, im sure you could strike a deal with a quarry company, better than hauling in a dozer.

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mgammo
  6/10/2016 15:17 EST

The Mennonites have dozers i believe. They will give you a price to come in and clear land in a logging deal. You could check with them.

Boweigo
  6/10/2016 15:47 EST

Yes, I will look into renting equiptment for land clearing. I read that the price of fuel was about 5usd per gallon but read elsewhere that it increased to 9usd per gallon. Could either of you guys confirm the current price?

Boweigo
  6/10/2016 15:48 EST

Yes, I will look into renting equiptment for land clearing. I read that the price of fuel was about 5usd per gallon but read elsewhere that it increased to 9usd per gallon. Could either of you guys confirm the current price?

terrific
  6/10/2016 17:39 EST

Filled up the truck today with regular at $9.45 Bze per gallon. The confusion could be some one quoted Bze$ price but didn"t qualify it as such.

mgammo
  6/10/2016 18:16 EST

According to my man in belize, gas was about 8.00 Blz a gallon, and he says now they have jacked it up t 10.00 Blz a gallon....

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Boweigo
  6/10/2016 19:29 EST

Thanks. The error must have been in currency quoted. So the price of fuel oil is around usd 4.50. I can use to see if it will be cheaper to buy a used D7 in the US and take it to Belize or have some one clear the land for me.

mgammo
  6/10/2016 19:35 EST

You better nail down the duty on that rig. Gas in Blz. is about 9.45 or so a gallon. BLZ...Cheaper gas can be found but it is wise not to buy it....

Boweigo
  6/11/2016 00:35 EST

The heavy equiptment uses fuel oil which should be a little bit cheaper than gas. The fuel price remains a factor too for leasing equiptment as the rented dozers also use fuel oil and that will be factored in the lease price.

ditalian
  6/11/2016 10:09 EST

Rented a D6 for 3 days. Transport, driver, fuel incl., for $200BZ/hour in Hopkins/Dangriga.

bobbyveee
  6/11/2016 12:36 EST

Thats a very fair deal, especially if the driver was a good operator. You can get a lot done in that time

terrific
  6/11/2016 19:36 EST

Valley of peace is not in the South, more in the middle with medium rainfall, They have been talking for a long time now of putting a road through that area direct to the northern border to help keep the biggest trucks out of the towns and cities. If it were to happen that land would go up in value but ideas are circulating all the time in Belize but rarely the cash to put them into practise

Boweigo
  6/12/2016 03:37 EST

A hundred US dollars per hour is a pretty good price since it includes fuel and operator. This might be the way to go as I will not clear more than 200 acres initially. I also was looking for land in the south due to the heavy rainfall but the land in the middle of the country looks good too as I am looking at different commodities . Can anyone give me a general idea on realistic land pricing in these two areas?

bobbyveee
  6/16/2016 18:45 EST

Hi Boweigo, I dont know if you know , but Fruta Bomba is closing down completely in Belize, it suffered badly in the 2007 hurricane , but blames high labour costs in Belize, saying its re allocating to the Dominican Republic labour costs there are 33cents/ hr US as opposed to $1.65 / hr US in Belize. They used to emply 250 people soon to be none . Thought you might find this interesting.

Boweigo
  6/17/2016 04:06 EST

Thanks for the information. Wow .33 cents per hour, can't beat that price anywhere. Downside is I don't speak Spanish which is why I am looking at Belize in the first place.

Boweigo
  6/17/2016 04:06 EST

Thanks for the information. Wow .33 cents per hour, can't beat that price anywhere. Downside is I don't speak Spanish which is why I am looking at Belize in the first place.

phantone
  6/22/2016 22:58 EST

I have replied to questions regarding real estate purchase in Belize several times. and I don't mind repeating it. Farmland exists in virtually every part of the country. Cayo was my choice. Now for the redundancy. I advise everyone thinking of buying land to first take the country for a spin. Live there for five or six months and see if you don't miss the malls and Mickey D's, 24 hour mini marts etc. . . . this serves two purposes one of which is apparent by the caution. The other purpose is that on the ground you WILL get a deal. Period. Buy on line you will probably pay twice or more for the land of your dreams. I waited. I was rewarded. Not only did I get a fabulous home on the river for 30 cents on the dollar, I bought 14.76 acres of farm land with a 270 degree view of the valley, San Ignacio/Santa Elena and all of Spanish Lookout. For 6k US. The asking price for this on the realtors site? 25k US. Go and explore. Meet some people, be careful who you trust. Especially the expats, the wolves in sheeps clothing. These expats are successful in fleecing future expats by the knowledge that no body ever sues them for recompense. This due to the unfounded rumour as fact that expats don't get a fair shake in Belize courts. Not true. I know from personal experience. I learned the hard way, but you don't have to. Get a local lawyer involced. I can recommend at least two that I trust there. They will do the work so you don't have to worry and they are inexpensive compared to here, The typical attorney there will charge ONE PERCENT of the amount of the real estate purchase. Realtors may do it for less, but be careful here too. I can recommend a couple that I have used in the past with no complaints and both of whom I now socialize with. I got more. Ten years in.

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