Many visitors to Roatan leave with a feeling of connection to the island, the way of life and local residents, so it’s not uncommon for people to return to purchase property so they can enjoy the island on a more permanent basis.
So, what else brings people back to Roatan?
The year-round tropical weather and cooling trade winds, provide the perfect climate.
The island’s geographical location puts it out of the path of the majority of Caribbean hurricanes and tropical storms, which is an added bonus for property owners.
English is widely spoken throughout the island, the majority of the local residents are bi-lingual.
Another benefit of living in Roatan is the lower cost of living and of course the endless list of activities to enjoy, diving, fishing, snorkeling, water sports, golf to social events, you may just find your weekly social calendar full.
Add to this the growth in the local economy, through tourism and development and the major infrastructure improvements of the past few years, all this combined provides a promising economic outlook for the island.
CAN I PURCHASE PROPERTY IN ROATAN?
Yes, you can! Foreigners, as individuals, can own up to 3000 square meters, which is approximately .74 of an acre, of land per investor. In order to purchase more than .74 acres of land, a Honduran Corporation must be formed with a qualified lawyer.
When purchasing land in Roatan, it is important to understand the documents associated with a clear title. To protect your investment, a qualified Real Estate Broker, Honduran Notary and Lawyer should assist you with the purchase process.
When closing on a property the seller pays all real estate commissions and capital gains tax, while the buyer pays all property closing costs.
Once you own a property you are required to pay annual property taxes that are calculated at a percentage of the property value.
Deciding to purchase a property in any country can be a stressful and overwhelming process. But investing in land or buying a vacation home in Roatan doesn’t have to be. With a reputable real estate team, you’ll be on your way to making an offer in no time.
HOW TO START?
Before purchasing property in Roatan consider visiting multiple times or for an extended period. Stay and explore different areas of the island so you get a feel for their unique characteristics, remember visiting and living on the island can be two very different experiences.
When you are ready to start your property search, keep an eye on the Roatan MLS website for newly listed properties, sign up for real estate agency newsletters and join the local Facebook groups which can be a good source of properties for sale.
We recommend working with a local real estate agent when purchasing a property, their insight into the local market and living in Roatan will be of great assistance to you. Ask around the local community for recommendations, and look for someone affiliated with local and national real estate bodies like; Roatan Realtors Association and Canabirh.
When you have decided on your preferred area of the island, a real estate agent, it’s time to begin your search. When looking at homes or condos be sure to ask about HOA fees or community fees, and if buying land check on water, electricity availability, sewage requirements, access to internet and cable TV and any possible building restrictions and permit requirements.
We hope this information helps you begin your search for your dream property in Roatan.
Stay tuned for more Roatan Real Estate information.
Click here to view Roatan Real Estate, Why Invest in Roatan?