Living Abroad... is Honduras on Your Radar?
Sep 27, 2013
We’ve said it before, and we’ll say it again… making the choice to purchase a home abroad is the easy part; actually deciding where is the hard part!
An interesting by-product of the 2008 economic fallout is the amount of folks looking at other parts of the world to live out their retirement years. Unfortunately, many people’s dreams were dashed when they lost a large chunk of their retirement savings, translating into a combination of reassessed retirement dreams or near cancellation of said dreams. That being said, thousands of North Americans are now moving their retirement plans south…
Latin America is quickly becoming the new destination for those looking for a sunny, relaxed and affordable place to call home, and Honduras is one of the countries in this area of the world that ticks all these boxes.
As far as up-and-coming destinations go, Honduras is scoring high marks. And it’s not hard to understand why… with a spectacular climate, gorgeous vistas, top notch (private) healthcare facilities and a low cost of living – not to mention property prices – it’s quietly turning into a Central American ‘hot’ spot… pun intended!
Although the Bay Islands have attracted international attention over the years, the mainland is now making a mark on investors and property owners the world over. Trujillo specifically, is growing in popularity to those looking to live out their life in an affordable paradise. It’s an easy destination to reach from North America, with a total of four international airports, one only a couple of hours from the beautiful Trujillo. In addition, owning land is an easy process for foreigners in Honduras. Think you’d like to ship your household goods? No problem! With a variety of deep-water ports along the coast, receiving your home’s contents is easily done (read more about packing for abroad HERE).
As a foreigner, choosing to become a ‘resident’ of Honduras is a fairly easy task…
Rentista – you must prove that you receive a guaranteed income of at least $2500 a month from a source outside of Honduras.
Pensionado – you are retired and can prove that you receive a pension income (either public or private) of at least $1500 a month.
Inversionista – you are an investor making a business investment of at least $50,000 in a Honduran entity.
Regardless of which residency option you choose, working with a local attorney is your best line of defense. Not only will all the paperwork be in Spanish, but navigating the legal system in Honduras is much different then in North America and having someone who knows the ins and outs is key.
Who’s Already Discovered Honduras?
The majority of foreigners already living and owning property in Honduras are from Canada and the US.
Although there are a few developments along Honduras’ mainland coast, Trujillo is quickly becoming a popular location for those looking to purchase affordable beachfront or mountainside properties.
In addition to simply enjoying the beauty that is the Caribbean Sea, Trujillo offers a variety of opportunities for expats to get involved. Volunteer opportunities have always been a mainstay in Honduras and the opening of the new Banana Coast cruise ship terminal is bringing a variety of business opportunities… not to mention the development boom happening in this historically rich city! It’s a perfect storm for a generation of home businesses to start up.
Honduras, and more specifically Trujillo, is joining the ranks of other popular Latin American expat destinations such as Ecuador, Panama and Costa Rica. But it’s still an incredibly affordable option, where some of these other locations are rising in price much quicker.
So what are you waiting for? Have you dreamed of living near the warm, crystalline waters of the Caribbean, but thought it was out of your price range? Well, think again! And this time, think Trujillo, Honduras…
Wondering what the best way to go about exploring property options might be? We highly recommend one of our Discovery Weekends! Not only will you be fully taken care of by our Caribbean Lots developers, but you’ll also feel absolutely no sales pressure during your trip. Of course you’ll be taken on tours of available properties, but you’ll also get a chance to explore the town of Trujillo and the surrounding sights. These are worth the trip themselves!