FREQUENTLY ASKED QUESTIONS...
With more than three years of planning, permitting, environmental approvals, excavating and earth-moving; as well as millions of dollars spent creating an extensive network of canal frontage property with Caribbean Sea access, South Ambergris Caye has indeed been well worth the wait.
We have fielded a host of questions related to the purchase of building lots in South Ambergris Caye. Some questions occur more often than others, and we have tried to compile the most commonly asked topics we have encountered so as to provide comprehensive answers to the most Frequently Asked Questions (FAQ’s). We welcome your inquiries and are more than happy to answer your questions. We ask that you read through the following detailed information, where you may find the answer to your question already provided. If not, we would be happy to schedule a phone appointment to speak with you in person and see that all your questions are answered. Just let us know the best number to reach you, and time of day to call. Subdivision Location South Ambergris Caye is located on the south end of San Pedro Town, with paved road access all the way to/from town. In the immediate vicinity is one of Belize’s most prestigious resorts – Victoria House (www.victoria-house.com). South Ambergris Caye is close to the barrier reef and the world-class water sports, diving, snorkelling and fishing it has to offer. All lots offer private boat slips with Caribbean Sea access. As a candidate for LEED certification (Neighbourhood Development), South Ambergris Caye is one of the few properties to be on all municipal utilities – water, sewer, and electric. It is a prerequisite of LEED Certification that any neighborhood development be within the immediate vicinity of existing water and wastewater infrastructure, and South Ambergris Caye is ideally situated to make use of Consolidated Water’s Reverse Osmosis desalination plant as well as the BWS sewer treatment facilities. South Ambergris Caye is the first (and only) subdivision area fully offering paved roads and underground utilities, to also include cable, and high-speed DSL internet. Road Access San Pedro Town has a long-awaited and much-needed paved road network within the town limits. Though paved roads are limited to the main roads in town, from the bridge to just south of Victoria House, they are connected to, and planned throughout the subdivision at South Ambergris Caye. Paved roads provide better drainage, no potholes, smoother riding, and better drainage. It's only been 6 years since the first paved road appeared in San Pedro....and now the first subdivision of fully paved roads is a reality. In addition to paved road access just one mile south of the town core, all lots in the subdivision feature off-street private parking, a necessary prerequisite for obtaining a vehicle permit from Town Council. Electric Electricity distribution is the responsibility of BEL (Belize Electricity Limited). Service coverage has expanded greatly over the last 5 years, extending to the north of San Pedro Town by more than 12 miles, and reaching approx. 4 miles south of San Pedro Town. Above ground transmission lines are found almost exclusively throughout the island...the sole exception being South Ambergris Caye, where underground electrical distribution is being provided. While there are more up-front costs for the developer, there is simply no denying how much better an area looks without overhead power lines. Sewer Geographically, more than 95% of the land area of Ambergris Caye is located outside of the service areas for town water and sewer. That means that only a limited number of areas offer all the benefits of a regulated sewer treatment plant. While the rest of the island requires following the specific guidelines and requirements for installation of an ATU (aerobic treatment unit), or aerobic septic system, those areas serviced by BWS have access of a modern, regulated and professionally maintained public sewer service. South Ambergris Caye is the only subdivision area that utilizes low-pressure sewer pumping stations to better facilitate sewer services throughout the service coverage area. Water BWS (Belize Water Services) Limited supplies water to San Pedro Town and its immediate environs, but as with sewer treatment, more than 90% of Ambergris Caye is located outside the service area for town water. Consolidated Water Ltd., of the Cayman Islands, is the largest provider of reverse-osmosis desalination plants in the Caribbean. Consolidated Water operates a modern, highly-regulated, reverse-osmosis desalination water treatment plant on Ambergris Caye, and provides water under contract to BWS for distribution throughout San Pedro Town. Town water is tested hourly for impurities, and is regulated by the Dept. of Environment, Health Dept. and Belize Water Service, as well as Consolidated Water's own trained technicians. Property Taxes Property taxes on all lots have been paid through March 31, 2012. Annual property tax statements are issued for the tax year April 1, xx through March 31 of the following year. Property taxes in Belize have historically been very low compared to Canada and the United States. Property taxes on vacant land are usually less than $100 US per year, and for improved property, usually less than $200-250 US per year. Building: Covenants and/or Restrictions Construction and design in South Ambergris Caye is guided by an Architectural Control Committee to ensure the aesthetics of all homes, duplexes and/or condos enhance, rather than detract, from one another. There is a rigorous approval process to become a builder in South Ambergris Caye, and only approved builders are allowed to build within the subdivision. Likewise, all house plans require prior approval, and an inventory of approved plans is available to choose from. Presently, there are approved plans for condo four-plexes, duplexes, and 1, 2, 3, or 4 bedroom detached villas. Construction pricing is subject to change, so all price quotes are good for 60 days from date of quotation. Title Belize is part of the British Commonwealth and has a legal system based on British Common Law. Title to freehold property on Ambergris Caye is conveyed by means of a Land Certificate Title. There are no restrictions on foreign property ownership, and title is absolute, with title guaranteed by the Government of Belize. All titles are held in an individual foreign IBC (one per lot), which can be conveyed to the new property owner. Financing Financing for lot purchases has been preapproved through CMIC, a private mortgage investment corporation, with rates as low as 3% interest. The minimum down payment for 3% financing is $25,000 USD. Lower down payments of $15,000 USD (10% of purchase price) are available with approved credit and 5.25% interest. 15-, 20-, and 30-year amortization schedules are available. Please inquire for more details and for a financing application form. |