Moving to Nicaragua 🇳🇮 Buying Home Best Practices
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- čas přidán 29. 09. 2023
- Viewers asked about buying #realestate in #Nicaragua when #.moving Whether you are buying land, a house, a homestead or starting construction there are a number of things that you need to consider as far as what to do and more importantly what NOT to do. It is time for some best practices in property in Nicaragua linda.
23 September 2023
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I love the music in the background
I watched the whole thing. Thank you.
Thanks!
Thank you so much for your advise. You are an honorable man. I wish the best for you.
I appreciate that, thank you!
Great job. You do a great job.
Thank you, very much!
Great video Scott! Thank you for your honesty.
My pleasure!!
I watched the whole thing. This answered so many questions. Thank you very much Scott!
Glad it was helpful! And thanks for hanging in there.
Loved the video! And loved the fact that i find validation of having followed the right path here. 2 years of research. Prior visit, even if it was decades ago. Now I'm here and have visited some different regions. I have chosen my area so now I'm networking. A lot of this is thanks to watching your videos for 2 years. So grateful. ❤
As usual, great video. All the more relevant for m as I believe I finally have a solid offer on my property her in the US. Visit, tour, rent and then... only then.... maybe purchase! Keep up the good work!
Fantastic! And thanks!
Thank you!!! very entertaining.
Wow thank you
I watched till the end
Awesome, thank you!
Very good advice on real estate here. Too many foreigners feel like money spent on rent is wasted when putting money in a money market fund would pay enough interest to cover rent. Unless your Spanish is quite good, a good landlord helps a lot with maintenance.
thank you! @@RebeccaOre
@@RebeccaOreis it possible to trade USA stocks for a living in Nica?
Great advice. The FOMO is a real thing, especially here in North America. The system preaches scarcity, although in most cases completely artificial. Enjoy the journey, take trips or extended short stays first. It'll be so worth the journey even if you decide it is not for you.
Great info. Two foreigners disputing something supposedly in Nicaragua is not Nicaraguas problem!
Thanks for the info Scott. Cheers!
My pleasure!
Ana asked me, where is that location? It's in his office? She says... Que salvaje! Famosa Scott con sus cosas!!
I noticed online like Point 2 Homes or 7th Heaven properties, the price of houses was extremely expensive and I suspected these websites were scam websites, because I was in Panama and EVERYTHING was for sale there, old signs everywhere along the roads, and I thought, hmmmmm with this much supply we're getting scammed online. Thank you for confirming EXACTLY what I suspected, this is Gringo pricing as it's finest for sure.
My wife and I have been enjoying your content. Great channel. We will be travelling to Nicaragua later this month and staying for a couple of weeks to "recon". We live in coastal NC and are looking for a property to live in half the year. You mentioned owning a hotel and we are planning on travelling the Pacific coast to get a feel for the areas and their vibe. One video you mentioned providing tour-guide services. We would love to speak to you and stay at your hotel while in your area and if we can work it out would be interested in discussing getting some help finding the right area for us or maybe figure out that Nicaragua might not be for us. Please let me know the best way to contact you directly. Thanks again for your great content.
I will see all of you, tomorrow.
After finding a property, I think the main concern is who will provide security and keep the home clean. This is even more crucial for quintas.
I would rent if I wasn't going to live there full time and even then, I'd live in Nicaragua (while renting) for a few years before buying.
If you have an estate of any size, you typically have staff that work or live there. For us, because we are often not around, we went with a 24x7 security firm (mostly for the conveniences it provides, we're a little "Managua premium" as they say here) AND live in staff. So one keeps the place under watch, tracks who comes and goes, etc. and the other keeps the place clean, stocked, lived in, and hangs out with the dogs while we are away. My dogs cannot be left alone even for an hour due to severe anxiety so we do a lot of weird things just because of our dogs.
@@ScottAlanMillerVlog Thanks, Scott. It's difficult to find reliable staff when we don't live there full time. Most deals are best done in person, which is again difficult when we aren't there all year.
@@FACA117 going in and out is hard if you don't form relationships here. Although we found with a good attorney that that did the trick for us. of course we are here year round but at the beginning it was no different. of course there are agencies that prey on the in and outers so you need to be very cautious.
Don’t do anything in the first year you can get out of with two phone calls.
Great video Scott. I’ve recently subscribed to the channel. Could you please provide links to your services for tours and relocations? Thank you.
great video!! til the end!! hope to move and contact you for help with residence through investments...god bless!!
Please do! And thanks for sticking through to the end ;)
Be careful about islands on the east coast. Some of them can’t be owned by foreigners. Even in the freshwater lakes have protected areas.
Do you know which islands fall into that category? I don't do much out there and don't have a good feeling for what the options are. I'm pretty sure foreigners CAN buy in the Corn Islands? Or at least do long leases like on the Pacific side?
You should live here and rent for a couple of years before even thinking of buying something.
Why renting? Waste of money...
@@Jurgen-rf1cz Maybe. But it's a small amount of money. I pay $380/month for rent. I had a bid done for construction and the cost was going to be $60 to $70 K plus the cost of the land. I am not 100% sure on where I want to live the rest of my life and so the risk of throwing $380/month away for a few years vs my ROI on building a small house at over $60,000 isn't worth it.
Sure, there are existing homes for less than that. But if I want to move I am now STUCK with the home trying to sell it in a beyond SLOW market. And while renting, anything wrong with the house is not my problem. The repairs don't come out of my pocket. So this may not be right for everyone, but when you move to a new country, the risk is so high that you think you know what you want initially, vs. what you find out what you really want, renting is almost always the better option.
@@allencrist5797 Hi Allen, i got Ur point and thats OK of course.I understand that. In my case, iam married to an Nica woman and have been there countless times. Up to now we always had rented houses and because i like to live there permanent very soon, renting is not more an option.
@@Jurgen-rf1cz Sure thing, of course, you have an inside track for sure. I am marring a Nicaragüense woman in Feb!
@@allencrist5797 felicidades! All the best 4 U 2
Hi Scott. Do you have any availability 12/11-12/14? How can I contact you to find out your rates? Great channel!
I do, and I see that you found me on Instagram :)
If you ever see real estate pics of property in the countryside/ocean views (in the distance), and the pic was taken from horseback...you gotta think hmmmm why didn't they just drive to take the pics lol I've seen it too many times. 😅
jajajaja... I've not noticed that. That's pretty funny.
Or only drone shots that never show the road.
Hi Scott, thanks for taking the time to produce all this information for us! Where I get confused is, how do I replicate some of my life in Nicaragua? My wife and I are currently evaluating a number of countries to move to from Aus. My wife is a (soon to be) qualified nurse and I would like to open a small business (probably cafe on a beach). We would want to be able to start businesses, buy a motorbike and car etc.
Are foreigners allowed to own a business? Are we allowed to own motorvehicles, legally registered in our names etc? Are we allowed to own land? If there are no long-term visas, then even if we are legally allowed to own our 'things' then what would be the point? I've asked previously about visas and was told to just come to Nicaragua. That is not something I would consider as just taking a chance that things will work out is a little risky.
Do you know what kind of visas exist by any chance? We would like to establish some kind of normalcy in our lives. Unfortunately, Nicaragua doesn't have a presence in Australia, so we have to rely on word of mouth, which seems kind of odd. The other countries on our list are: Malaysia, Philippines, Thailand and Mexico. Those countries seem to have relatively straight forward avenues for entry, purchasing rights etc.
Any advice would be great! We know we want to visit and as far as I know, they have a tourist visa on arrival but I'd like a better picture before we spend a bunch of money just coming over...
That's a big one. It warrants a video response. I took a screenshot and will try to get a response out in the next few days. Definitely not the next 48 hours as those episodes are already recorded, but I'll try quickly. If I don't soon, post again or email me because I can lose these things pretty easily as CZcams gives me no way "back" to a comment.
@@ScottAlanMillerVlog Thanks for responding! It would be great to see some kind of 'How to replicate your foreign life in Nicaragua' video covering these things...I know you'd do a great job as usual. Kind regards, Jon
I'll see what I can do :)
I watched to the end! I hope you got the "click" since I tried to comment part-way through and google took me away and I had to start over. One question based on this video: where did you find a trustworthy lawyer? I met with one who is well recommended in expat circles but after talking to locals they mentioned he was trying to upsell and overcharge me quite a bit. Did you already speak Spanish when you were looking? Muchas Gracias Scott!
We went through some mediocre lawyers. Eventually found a great one. Generally anyone in "expat circles" is who you want to avoid most. Anyone marketing to expats is very unlikely to be a good choice. Especially if they speak English they are going to be unnecessarily expensive just because of that and if they are focused on expats, assume prices will double or triple. Ideally you want someone Nicaraguans evaluate and would use themselves; not someone that markets only to those that don't have resources to evaluate. That doesn't mean everyone who speaks English or has lots of expat customers is going to be bad. Just... those aren't positive features to use in evaluating them.
No, we didn't speak Spanish originally. Not much. That made it harder, but we knew that all the best people were going to be Spanish for just about every job role.
I would like to meet in possible when I go down there I'm coming from Panama city fl
Sure. I live in Leon and am always happy to meet up.
Many of the scenes did not appear to be in Nicaragua
It's 100% my house. All one location All Nicaragua. I film there every day. There's no way THOSE locations aren't Nicaragua. I film there constantly.
In what way does normal Nicaragua not look like Nicaragua?
Another incredible video, Scott! My wife and I are going to be planning our first exploratory trip in February and appreciate the hours of valuable information with insightful context. The real estate situation is quite interesting as we are interested in buying but are aware of the issues with valuation. We are looking at San Juan, as well. Are there ligit real estate agencies? We have communicated with one of the better known ones and have found an attorney who seems really knowledgeable. Should we assume that the advertised homes are all way over priced? Very confusing!
most important advice I have... don't look at prices online, they help convince your brain that logic doesn't need to be used (literally happens to everyone, it's a known psychological trick to get people to lose track of real pricing) and you should never interact with an agency here, they are not regulated and don't work like you think that they would work. You should not want to engage one, that's not how Nicaraguan real estate works.
The valuation problem is only the smallest issue. In fact, I'd argue that getting people to focus on how off the prices are is part of the long con being played here and that's super important. That's a distraction that everyone understands and makes it easy to miss the real problems.
Thanks for your reply, Scott, and I definitely appreciate the cautionary words. I was under the impression that San Juan was a bit different than the rest of N in terms of real estate. Are most houses FSBO [for sale by owner] with both attorneys handing the transaction? How does one find out about homes for sale? And are you saying that the ones advertised on some of these legit sites are not exclusive listings? Does such a thing exist?
Yes, San Juan IS a bit different. It's the one where nearly everything is fake. Basically every horror story, every warning is based from San Juan del Sur. There's definitely more of that there than the rest of the country combined. Buyer beware everywhere, but assume everything you see, hear or experience in San Juan is part of a narrative being crafted to convince you that the sky isn't blue and you don't need to keep an eye on your wallet.
ALL houses are FSBO, that's the only type of sale that exists in Nicaragua currently.
No listing is exclusive, that isn't a concept here currently. That idea implies you have North American style agents. BUt that isn't a thing here. Exclusive agents are not yet a thing (they are proposed and hopefully we will have them soon, but right now, we do not.)
You find houses by driving around and having a Nicaraguan talk to people and ask how to reach the owner. Sometimes the owner will talk to you, sometimes they won't. Sometimes they don't want you to talk to an agent, sometimes then only do and their tell you which one to talk to. It's kind of the wild west and while that's not a great answer... it is the answer. ANY attempt to work around that system guarantees bad results.
Scott, i will come again in December and i need a good lawyer. Is there a way to meet U on a beer in Simple Lodge, or somewhere else? WE we're already in contact some months ago here, I was the one considering playing chess on Ur beautiful veranda...😊
how expensive is health care?
Very cheap. Public healthcare is free, even for tourists. Private is extremely affordable. Very few people consider insurance because it's so cheap and flexible to pay in cash.
Cheap healthcare is a major driving factor for retirees choosing Nicaragua.
Scott I’d like know more about the Caribbean autonomous regions and why no one talks about it ?
I plan to go out there soonish to film in the southern end. But no one talks about it because it is nearly completely empty, has little tourist infrastructure, is outrageously far away and hard to get to (at least there is a road now), is very poor (even by Nicaraguan standards), and just doesn't have much to talk about. It's not part of traditional Nicaragua and so Nicaraguans don't really think about it very much.
@@ScottAlanMillerVlog
I hear the government of President Ortega has built or is building good infrastructure in the northern region like paved roads and 2 regional hospitals , one in Ocotal and the other in Puerto Cabezas
Are you aware of such developments ?
Honestly I’d prefer the Caribbean side because I believe it’s less prone to earthquakes
Earthquakes should never drive any decision. Nothing wrong with the Caribbean coast, but that's never a reason to consider it. Earthquakes here carry no risks, it's not a reasonable thing to consider unless you are looking at high rise living in old buildings. And we really don't have old high rises, so that's not a thing. There are literally thousands of important factors to consider that will affect your life, and your safety. Earthquakes are not one. Not at all. I don't think there has been a single injury in the county from a quake in 50 years. And since Managua rebuilt to be earthquake safe, even there there is no risk.
@@ScottAlanMillerVlog
That’s information you’ need to spread to people like me that are terrified with earthquake prone countries specially those among the ring of fire
That’s why I don’t consider at all the South East Asia region not even to visit much less to retire at
I’ve been no farther east than Waslala. If you checking that out, the owner of the pizza hotel speaks English. Spend time anywhere you might want to check out. Recently, the roads out there have been improved.
Great video thank you Scott. I am very interested to move to Nicaragua from Europe, never been in the country (yet), but I have some concerns on safety. I have heard of these "quick kidnapping" situation that supposedly happens in Managua. Meaning, you arrive at the airport, take a taxi, and get kidnapped and they ask for a ransom to you/your family. Is there any truth in this, or is it just urban legend/BS?
I've never heard of such a thing. I'm not saying it has never ever happened, but that's definitely an urban legend. Nicaragua is similar to Europe in safety, far safer than the US. Almost identical to Canada. What dangers we have here are petty, like grabbing your camera, wallet or phone. Or overcharging you for a taxi because you didn't pre-negotiate with InDriver (the app.)
Kidnapping is absolutely not a thing here. No one living here worries about anything like that.
That said, don't randomly take a taxi, ever, anywhere. Not in Europe either. Taxis are conceptually not safe and are a horrible idea. In Nicaragua we don't have Uber, we have InDriver. Always use that so that you know the cost and the driver ahead of time.
It’s called express kidnapping. They drive the victim to one or more ATMs then drop you off out in the country. Rare, only in Managua, or agreeing to share a taxi with a woman you meet on the bus. I’ve never known anyone personally that this happened to and I’ve lived here 13 years. Never even have heard of a kidnapping that involved calling people for money.
@@ScottAlanMillerVlog, never have had that happen and I took taxis in Managua, and still take taxis in most smaller towns. I’ve been in a taxi at night going back from the airport to Jinotega when both the taxi driver and I called people to say where we were going. Call a friend when you get in the cab.
For sure, always let someone know what cab you are in (this is general advice, not Nica advice) and share your location. We did have one taxi murder here in Leon last year (confirmed, sadly we knew the people at a distance) but it was a targeted hit on someone that was a cash carrier for a bank and the robbery went bad. They knew he had a lot of money. And the cops got them quickly.
Is Keller Williams in Nica reliable ?
Im going to work with them maybe
Did you see what I said about thinking you were the exception or that you'd found an exception? the more you think you are the exception, the more you are the rule. I can't possibly be clearer about "do not use an agent - no exceptions".
Also, if you want NAR's own opinion of their REALTORS here, contact them. Here is what they had to say: "We do not have a location oversees". So just remember that any agency protections to assume from NAR membership don't apply here, you are on your own. It's tempting to think that US agency membership or perceived membership provides you some protections. But it does literally nothing. People may or may not be real members, you have no way to verify. But whether they are or not, NAR doesn't provide a mechanism to protect you because it's outside of their legal oversight jurisdiction. You are on your own.
Realtors here aren’t regulated.
Scott! I watched until the end!
woot woot @@janetsweeney1574
I heard that the government of President Daniel Ortega is building or has built good infrastructure at the northern autonomous region like paved roads and 2 regional hospitals; one in Ocotal and the other in Puerto Cabezas
Are you awake of such developments ???
So important to note that Ocotal is a mountain city near Esteli. It's NOT in or even near to the northern autonomous region. Ocotal is Nicaragua's third oldest colonial city (after Granada and Leon) and very much within the non-autonomous regions. It's not even in a border region to them. It's the capital of Nueva Segovia. But yes I hear that one is well under way being built up there.
The one in Bilwi (Puerto Cabezas) is just proposed. They did renderings of it a few days ago. So likely won't be there in operation for a few years.
www.el19digital.com/articulos/ver/titulo:96958--foto-asi-avanza-la-construccion-del-nuevo-hospital-regional-nuevo-amanecer-en-el-caribe-norte
@@ScottAlanMillerVlog
Scott I sent an email to your relocation address and haven’t received anything yet
Don’t buy until you’ve lived here for a year. Don’t ever buy in a gated community without any houses built.
Oh, great point. Empty gates seems so nice, but is such a bad idea.
I'm curious, how do any houses ever get built in a gated community then? It seems as though somebody has to be the first to build or nothing would ever get built. Respectfully, are you able to explain this comment a bit? I see some great buys in communities with very few houses, thats why I ask.
Yes. First ones have to be...
1. Foolish people taking crazy risks.
2. The builder.
3. The builder's family, friends or other people given an incentive to take on a lot of risk.
I'll do a video on this. But it's REALLY solid advice. MOST people going into developments end up losing all their money because they go in first when no one else is coming. In most good developments the developers themselves or someone associated with them invests first to get the ball rolling and to make the development make sense. If the builder doesn't believe in it, why would someone else? The first of being first and no one else ever comes is huge.
Thanks so much Scott, I appreciate the perspective! I guess i should clarify my question as well. If say there are a couple places built, and you aren't the first, but you"re ONE of the first in a newly subdivided gated development? it leads me to another question; Why would it matter how many others came in and built, if its a fully titled lot, and maybe having less neigbors seems like a good thing? I'm trying to understand the reason for wanting a bunch of people ahead of you. is it the buying or the building that you shouldn't be early on? Sorry if my questions are confusing.
@@ScottAlanMillerVlog
I made a video on this, it'll be up tomorrow :)
Gated communities have shared facilities, it's easy to get stuck with facilities never getting plumbed, things getting shut off, shared costs turning into solo beared costs, or just having a house in a fully abandoned area. I've seen so many of those .... one or two houses in a big sea of weeds where they bought early and no one else came. The house values fell to basically nothing and they are stuck because they bought for $70K and the place is worth $40K now.
So...the people who hated Nicaragua, what, specifically, did they hate?
Four big items tend to come up: heat (everyone hates the heat if they are just visiting short term as you need 2-3 months for your body to physically adapt), all the dogs and cats roaming around without good homes, the litter/trash problem, and the visible poverty (which looks far worse than it really is, over time you come to understand what you are looking at much more.)
For most people who end up being unhappy, some combination of these things is what they cite that has some basis in reality. Mostly people who have been unhappy were pretty predictable: coming for clearly wrong reasons, having a really bad attitude before arriving, having no idea what they were coming for and getting hit with shock instead of adaptation. People who come with the desire to adapt and change to a Nicaraguan life the success rate seems really high.
No houses are going really fast.
Also, I think sometimes people think a new place will make them happy when it was themselves they were running from. Your problems are still your problems wherever you go.
AirBnB requires having tourists. You’re competing with hotels that charge $20 to $40 a night and serve meals.
Yeah, renting or buying from a gringo will get you gringo prices for sure.