Are you considering buying real estate in Nicaragua? Here are some comments about the experiences of people who have.

Q. What type of property purchase did you make, and why?

A1. The first property we purchased was on Mombacho, and we intended to eventually build and retire there. The next purchase was a colonial house we purchased in Granada with the idea of
remodeling it into a small hotel with living area for us when we were in town. Later we found a parcel on Apoyo Lagoon that we liked even more than the lot on Mombacho for our retirement.  We will probably build on both lots and maybe sell one.

A2. I bought a large quiet lot about 3 blocks from the town square. It had several buildings on it. I bought it because it felt good the moment I stepped into it and the price was low.

A3. I bought a condominium near the beach, partly for investment, but also for a place to spend the winter. Someday I might retire here permanently, I don’t know yet.

by Barry Oliver

Buying property in Nicaragua does not have to be difficult, stressful or risky.  However, you need to do your homework and follow some simple rules and steps.  If you skip one step or bend one rule then the process becomes risky.  And this is why you so often hear the bitter stories from angry foreign investors and local property Sellers.  The process of buying property in Nicaragua is unique, you must learn patience.

What follows is the common mistake.  Bobby and Jenny stumble on their dream land in Nicaragua; ocean view, several acres, inexpensive and near their favorite surf spot.  The owner says he has two other offers so if they really want it they will have to give him a 10% deposit; which they do immediately.  Now the seller has taken control of the process.  He demands the remainder of the money within 30 days.  So, Bobby and Jenny quickly go out and find a lawyer.  The lawyer finds that the Historia Registral (Property History) is not correct and recommends they not buy the property.

by Charly McDougal

The endless stories of people making big money quickly buying and selling real estate in Nicaragua are almost becoming the stuff of legend. The stories evolved because so many of them were essentially true. It’s getting more difficult, but those days are not over. If that’s what you’re looking for, you might want to skip condominiums and other multi unit developments.

But if you are looking for the easiest purchase process of a vacation, secondary or retirement home, multi unit projects are the answer. Called the “turnkey solution,” because with many projects all the buyer has to do besides sign a check is turn the key in the door lock after they step off the plane. Many offer shared amenities such as pools and gardens that would be cost prohibitive for a single home owner to afford.

The common thread in the new wave of condo/townhouse/villa is common design, common management, ready to move in with immediate income potential. The developer builds, sells, maintains and fixes fees No searching for lots, no title worries, no code inspectors or construction headaches. Building standards- structural, plumbing, electrical etc.- are to North American standards.  Packages are available to furnish the unit with everything household need, from furniture to DVD players and spoons and pillowcases. 

by Rex Schmetterling

It’s no secret that real estate investment is a hot ticket in Nicaragua. Land prices are a bargain compared to the global market and investors are buying up large tracts of it, building houses, roads and factories.  Development is economic progress, but it can come at the expense of habitat loss and degradation of the environment. But there are people doing something besides buying land to bulldoze flat and put a building on. Some investors are buying land to preserve or even enhance the natural world, to create sustainable, evolving land uses.

Vince Ventre is perhaps the last guy you’d think would start a nature center. A commercial roofer (local 30) from Philadelphia, he would seem to be the guy passionately discussing Harley Davidson motorcycles and football scores. Instead, its wild flowers, birds, and as his many tattoos would suggest, butterflies. While traveling the world adding to his butterfly collection, including seven weeks in the jungles of New Guinea, he came to Nicaragua and decided to stay.  He bought 16.5 acres north of San Juan del Sur one kilometer from the ocean, “because of potential for growth and less expensive land,” Vince said.

by Benny Raíces

Charles Southwell has been a real estate agent based out of Granada, with an office in San Juan del Sur, for seven years. After being a general contractor in California, he sold property in Costa Rica for seven years before moving to Nicaragua “to find a new frontier. If you’re not living on the edge you’re taking up too much room.” He is as wildly enthusiastic about Nicaragua as any one you’ll meet. He talks about his experiences here.