Monday, September 27, 2010
An aerial view of Orchid Bay, showing the beachfront casitas
Dear Reader,
Picture it: a white-sand beach, washed by the turquoise waters of the Caribbean. The palm trees sway gently in the cooling ocean breeze. Offshore, on the barrier reef, swims a rainbow kaleidoscope of tropical fish. Inland, unexplored rainforest runs for miles, concealing Mayan ruins and exotic wildlife.
The people here are the friendliest and quirkiest of any country on my beat. English-speaking and welcoming, it’s easy to integrate with the local community. They don’t care much for rules here, either. You can mind your own business, with no unwelcome intrusion into your affairs by her government.
I’m talking about Belize…and her northern shores in Corozal in particular.
In the picturesque seaside fishing village of Corozal, you’ll find breakers, sea breezes, and fragrant canopies of poinciana trees adorning its central park.
Minutes away from Corozal, you’ll find a real estate project called Orchid Bay. I first visited five years ago when the developer spoke of creating a community.
Today the project is real. The first residents have moved into their beachfront casitas (all 24 casitas sold; two are available today as resales)...five houses are under construction…and the site for the first condo building is being cleared.
The new restaurant is complete and being used by private groups. It will open for regular dining next month. A new beach is taking shape in front of the site for the new condos. This is in addition to the existing beach and dock. You may have seen the development on TV in recent weeks when it featured in an episode of House Hunters International.
The school of architecture behind this development is called “new urbanism”. It’s designed to foster a sense of community, with central plazas and communal areas to attract and keep neighbors together.
Prices are set to rise in the coming months as more residents move in and the community becomes alive. But right now, you can buy a lot here for $39,000. In fact, just four of these lots are still available as of 9.30 am ET today.
Developer Ari Kahn is standing by to send you a full information pack.
If you want to build a little home on this site, good quality build costs are $100 per square foot…or up to $125 for high quality finishes. There is no minimum home size. The folks at Orchid Bay will build you a 998 square foot home for $114,000.
That’s $153,000 for your home and lot if you decide to build.
Nine of these $39,000 lots were ring fenced for members of my Real Estate Trend Alert group (RETA) with special and exclusive terms. I told RETA members about this opportunity last month. Ari has given members until Wednesday to confirm. The exclusive window is now closed. The four remaining lots are part of this ring fenced deal. Ari has agreed to extend the finance terms to you if any of these last four “ring fenced” lots are available at 6pm ET on Wednesday.
This is a big benefit…and if you are interested, you will have to move fast. Let me explain.
It’s difficult to get finance in Belize. If you can, you will likely pay 12% interest. The lots I’m talking about are available interest-free. You pay $1,000 on contract signature with another $9,000 payment to follow shortly afterward. Your monthly payments are $600 (for 48 months).
Before you do the math, I can tell you that, yes, the total cost of the financing is less than the upfront $39,000 price. The developer (that’s Ari) is in a strong position. That’s why he’s not worried about the small difference.
If you aren’t a RETA member, get in touch with Ari and he will let you know on Thursday morning if any of the lots with this interest free finance deal haven’t been taken up by RETA members. If you are a RETA member and are interested, please follow the instructions in the alert you received. If you are a new member, you can check the RETA archives.
Ronan McMahon
Editor’s Note: If you’d like to see if Orchid Bay…and one of these lots…is right for you, try a chill weekend. These short discovery trips are subsidized by Orchid Bay, and are a perfect opportunity for you to experience Belize and the Corozal area for yourself. Ari is standing by to send you dates for upcoming Chill Weekends and an itinerary for your stay.
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