Property ID : MLS #06026
Financing Available!, For Sale $599,000 - Belize Business For Sale, Land For Sale in Belize
FINANCING: Our financing option for home sites makes it that much easier to invest in Cocoplum. After putting down 20% of the purchase price of the lot, the balance is paid on a declining balance at 9.9% amortized over 10 years. This option is only available for interior home sites, however, and does not apply to any of the model homes, or beach front lots.
FAQs Cocoplum Belize:
Where is Cocoplum?
Cocoplum is located at mile 17.5 on the Placencia Road. The 224 acre development runs from sea to lagoon and encompasses the widest part of the 12 mile long peninsula.
How do I get to Cocoplum?
You can take a scheduled flight from the international airport in Belize City to the Placencia airstrip or you can drive down. If you fly, Cocoplum is 5 miles north of the airstrip. Driving from Belize City—over fully paved roads– usually takes about 3 hours.
When did you break ground on the development?
Earthworks commenced in December, 2005, with roads and utility infrastructure completed in 2008. As of early 2012 some 26 home sites have been sold with 10 homes completed or under construction. A 12 acre condominium site at the south end of the property was sold to a separate developer in late 2006 and they have constructed and sold a number of units.
Is the infrastructure for water and electricity already in place?
Yes, water and electricity are already installed. Both are run underground.
Do I have to build within a certain time frame once I purchase land?
There is no time limit to build once you have purchased land in Cocoplum.
Are there restrictive covenants that govern what I can do with my land?
Yes, there is a common sense set of covenants that are registered and run with the title. They deal with basic things like setbacks, height limits and upkeep of your property. They are designed to protect owners from anything that may hurt property values but do not impose any type of uniformity of style or colors. The full set of covenants is available on request.
When I purchase a lot in Cocoplum what kind of title do I get?
Cocoplum is part of a registered land area which means that the titling system is extremely secure and easy to understand. Our laws are modelled after English Common Law and your title is in fee simple absolute. Your title is lodged in the computerized Lands Registry in Belmopan and you also receive a land certificate with raised government seal that guarantees your ownership.
What is the tax situation regarding property in Belize?
Property on the peninsula is taxed at a very low rate of US$50 per acre, per year. When you purchase your land you pay a one-time transfer tax of 5% of purchase price. This tax is levied on the net purchase price (after the 12.5% General Sales Tax paid by the developer is deducted) and there is no transfer tax paid on the first US$10,000 of value. So if you purchased a lot for US$200,000 you would pay 5% of the net purchase price (US$177,777.77) less the first US$10,000. Five percent of US$167,777.77 is US$8,388.88 in transfer tax.
Are there HOA fees? And if so, what do they cover and what is the cost?
There are yearly HOA fees that cover the maintenance of all common areas, including road right of ways, parks and forest/lagoon reserves as well as 24 hour security. When you purchase a lot in Cocoplum you are issued 2 shares in the Cocoplum Owners Association (COA). Each share attracts an annual fee of US$225 payable each January. When you build a house each bedroom requires an additional share. So a two bedroom home would pay an annual fee of US$900 plus 12.5% government tax.
What financing options are available?
Financing is available on all non-beachfront home sites. Terms are 20% down with the balance financed at 9.9% over ten years. There are no prepayment penalties. Developer financing is not available on home sales. Local banks and locally based offshore institutions however, will finance both home and lot sales.
What are average construction costs on the Placencia Peninsula?
Construction costs on the peninsula vary from contractor to contractor. Expect to pay between US$110 – US$140 per square foot for a well built concrete block home, depending on the type of finish and fixtures you require.
Do you do custom home construction?
We do not build custom homes, but we will gladly provide you with a list of reputable building contractors.
How long can I expect construction of my home to take?
Home construction usually takes anywhere from 8-14 months, depending on the size and complexity of the house.
Will you act as a rental agent for my home? And if so, what are the terms?
There are five beachfront lots and three beach view lots adjoining the resort site that have been earmarked specifically for buyers who are inclined toward renting their homes at least part of the year. These homes have some unity of design and will likely be incorporated into the resort’s inventory once it becomes a reality. Gross rental income is split 60%-40% in favor of the owner. Homeowners are responsible for their HOA fees, insurance, property tax, water, electricity, cable, internet, landscape maintenance and exterior maintenance. Management takes care of marketing, guest services, housekeeping, credit card fees, interior wear and tear, meet and greet/airport pickup, pool maintenance and the administering of any repairs/maintenance. Our experience thus far with the rental of our 3 bedroom Beach Villa suggests a net rate of return for the owner in the area of 5-7%. Homeowners outside of the specified rental pool area may also rent their homes either through us or another agent, but the terms might vary depending on design and location.
Is there on-site security?
Yes, there is a 24 hour security presence. There is always a guard manning the booth at the entrance to the development. At night and on weekends, in addition to the guard at the booth, there is a second security officer that roams the property.
What is the financial strength of the corporation that owns Cocoplum?
Cocoplum’s parent company is owned by a group of Belizean citizens and residents whose joint investments date back to 1982. The company has no bank debt and none of its properties are mortgaged or encumbered. The investors have consistently taken the long view in all their endeavors; this approach has proved successful both for themselves and their clients.
COMFORTABLE AND VERY EASY ON THE EYES
The 2 bedroom Beach Villa takes the vacation rental experience to a new level. Located on the beach in the lush yet wildly civilized Cocoplum Residential Community, the 2 bedroom Beach Villa offers our guests a truly unique locale to call home while in Belize. A folding glass door offers unparalleled views of the beach and nearby cayes, and opens onto a very large deck that surrounds the pool. The spacious living room is the perfect place to spend an evening having drinks around the granite topped bar while deciding whether to eat dinner inside or out on the deck.
TOES IN THE SAND AND NOT A CARE IN THE WORLD
The Beach Villa is located on a mile of secluded Caribbean beach. The only thing between you and the sea are a few seagrape and palm trees and a little over 100 feet of sandy beach. Even though all beaches in Belize are accessible to the general public, you may see 6-7 people walk by in the course of a day. So break out a kayak, go for a swim, or just relax with something cold in your hand. And don’t worry. The 224 acre community employs its own 24 hour security staff for your peace of mind.
LOCATION, LOCATION, LOCATION
Cocoplum is a ten minute drive from the Placencia airstrip, and is conveniently positioned between the laid back bustle of the village and the more upscale eateries of the northern peninsula. We provide free transfers to and from the airport and are more than happy to arrange a car rental or taxi for your forays into the village or one of the nearby fine dining establishments.
Land and sea adventures abound on the peninsula and it is our pleasure to connect our guests with the best the country has to offer. This includes world class SCUBA diving, snorkeling and fishing, invigorating hiking and tubing at nearby national parks as well as the exploration of thousand year old cities of the ancient Maya.
We know that when it comes to rental homes there is a wide selection. What makes this home special is that the level of personalized service matches the physical quality of the Beach Villa. Your host is not a hired caretaker; he is a resident and principal of the development where the home is located. Think of him as concierge and good neighbor rolled into one.
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All listings priced in US$. If you are interested in this property, please contact James at 1.888.980.6448 or [email protected]