Nicaraguan Beachfront House For $80,000

Dear International Living Reader,

Here's a way for you to get your own Pacific beachfront home...providing a sunny retreat whenever you want...and a rental income whenever you're not using it...for just $80,000.

I've been exploring the stretch of land between Managua and Costa Rica (Nicaragua's richest area--in wealth and natural resources) for the past six years. This is where you'll find miles and miles of (mostly empty) white sand beaches, including the resort town of Montelimar, expat favorite San Juan del Sur, private beachfront community Rancho Santana, and, inland, colonial Granada.

On my last visit, IL's office manager in Nicaragua, Gail Geerling, told me about El Dorado, a small marina community of 30 beach houses on the south Pacific coast.

Each house will be built on a lot an easy walk to the beach--about a block--although none of the lots has any ocean view. The developer has a permit for a small marina, which would be near the houses.

The developer has contacts in Brazil and has arranged for pre-cut timber to be shipped in to build these homes out of a Brazilian hardwood. I have seen other homes near Managua that the developer has built in a similar style from the same wood. The quality of both the wood and the craftsmanship is excellent. Plus, the construction time for these homes (seven months) is shorter than typical, due to the type of materials.

Each lot differs in size, but the price for house and lot remains the same, no matter the size of the lot: $80,000 for an 882-square-foot house; $85,000 for a 958-square-foot house. Figure 3.25% of the purchase price for closing costs.

I believe Nicaragua, a country of prosperity and growth, is the best place to invest right now in all Latin America. These homes at these prices are an exceptional value. And they come with the potential for real rental income.

There is a growing trend taking shape in the United States and in other developed countries--people's desire to invest, live, vacation, or even retire outside of their home countries.

As a reader of these dispatches, you recognize as well as I do the investment potential for land in Nicaragua--but the rest of the of the world is catching on too, literally as I write.

* The current (Feb 2005) issue of Conde Nast Traveler talks about Nicaragua being "Latin America's new adventure", singling out Granada and Leon as major tourist destinations in the making.

* Two weeks ago, the New York Times wrote about Nicaragua's "pristine Pacific coast beaches".

* This month's Travel + Leisure magazine calls Nicaragua "the new Costa Rica" and explains that, due to demand, hotels in Costa Rica now offer day trips to Nicaragua.

* The Wall Street Journal reported a similar trend before Christmas.

As I said, the world is catching on…and almost no decent rentals exist in the area where the El Dorado houses will be located.

The developer will be putting in place both rental and property management services to help you rent your house when you're not using it.

For more information, contact Gail Geerling at arenas@internationalliving.com.

Lief Simon
Real Estate Editor, International Living