Buying resort property in Honduras

Hi Stefano,

Welcome to Expat-blog!

Your topic has been introduced as a new thread on the Honduras forum for greater visibility.

I hope other members could share their experience with you about buying property in Honduras.

I wish you good luck
Christine

Hi Stefano...

I have heard terror stories about buying property in Honduras. It's a different world if you do it in the islands or the mainland, but it is always risky.

- Get a good lawyer and have him check and re check the status of the property, land use, duplicate property titles, pending taxes... all of that. Ask around, and don't go in if you see anuthing suspicious.
- Go to your Embassy, present yourself, tell them your intentions, maybe they can recommend a good honest lawyer.
- Be careful with land invaders.
- Create a network, by your name, i assume you are italian, Honduras (especially the islands) is full of italians, get to know them and ask them for advice.

Be careful, do not associate with local enterpreneurs.

Good luck.

Jotxo

Thanks for the advice.  Yes I am first generation Italian, so it would be nice to meet some italians living there.  I will definately do my research!

Anyone heard of the Trujillo Beach Eco Development? I am about to sign a contract site-unseen for two small lots within the resort and was wondering if I am making a huge mistake. The prices seem about about right but I'm a little nervous being a first timer. They have a Honduran law firm acting on behalf of both seller and buyer.

Any comments are welcome.

Thanks a million,
Bob

Hey Guys, My name is Chris Barrett. I live and work in La Ceiba Honduras. I'm the developer/builder of the beachfront communities "La Ceiba Beach Club" where you can find direct beachfront lots and beach homes for sale. I already have a great local attorney (Jorge Lopez) that speaks 100% English and my purchased love him.

The first thing when purchasing here is to like what you see. There are many options here. And make sure it's really a good investment.
The second is the correct attorney. Then, foreigners that live here can help you with the rest. I'm one of them that can be assistance to you even if you do not purchase from me in the end. I love where I am, what I'm doing and want Honduras to become a better place.

Chris Barrett -

Hi Bob,

I purchased a property in this development back in February.  I'm assuming it is the same one.  The one through recap investments?  If so, I have not seen my lot either, but the company is very good to work with and send out regular updates on their development progress.  My land title is being received by the company and is being sent to me in May.  Everything seems quite legit.  Recap is affiliated with some very big real estate names and has a very good international reputation.  They use the proper lawyers and ensure everything is done legally.  If you are refering to the same project I bought into, I have not been there myself yet, but am sure have nothing to worry about.  Just have to get over some buyers remorse and purchase anxiety.

Stefano

Thanks for the feedback Stef. I contacted a number of references and all came back positive. As always with resorts you have no control over maintenance fees....which could increase substantially and put a dent in your investment. Hopefully this won't happen here.

I am also interested in buying a private property so if you know of any good websites pm me or post them.
Regards,
Bob

[Moderated: No free ad on the forum]

Chris....I checked out the links but couldn't find empty lots and pricing. Please PM me what you have with comparable pricing to the Trujillo Eco Project for 1/2 and 1/3 acre lots ASAP

Thanks,
Bob

[Moderated: No free ad on the forum]

Hi All.  I just bought a 1/4 acre lot in phase 1 of Trujillo.  I agree with the concensus above-they seem legit but to be fair i have not been there to see it yet.  I have asked for a photo of the lot and have yet to receive one but hopefully soon.  If it holds to be a legit development I think we who bought stand to have a nice place to visit and may end up holding a very good investment.  I hope they do not quit supporting it once done.  fingers crossed on a first time overseas purchase!

Well done! They appear to be a very pro outfit....however, i ran a D n' B on them and it was very vague. They appear to be a very small and young company and have provided very little company info to Dunne and Bradstreet Canada. We can only hope that they are connected to a very reputable developer with a good balance sheet.

I bought in Phase 1 and 2.

Bob

one of the questions i asked was how they were financing it and i guess it is already all paid for as the land owner owns it outright and the money for the actual development has already been raised through the sale of lots so at least banks and speculators are not involved in the way many developments fail.  They told me the president is from Trujillo as well and wants ot make it a "model city"-might be hype but might be good too.  Also had confirmation on the cruise ship line and they are building a full fledged highway to Trujillo as well.  Now the country just has to change its reputation and we should be golden!  Looking at the island Roatan is sounds like they have already recouped big time. 

How are you all going to build?  Are you going to use their architect or find your own sources??

I believe direct beachfront properties are a safe investment vs beach "view". I've been told they have sold many properties as direct beachfront when they were only beach view.

Over the past 9 years here in La Ceiba, Honduras I have watched big outfits start developments that end up being nothing more than a cow field with lots. Sometimes bigger is not better. I chose smaller developments that can be easily completed.

i also bought a lot in the trujillo eco resort,, i bought it site unseen, drove to toronto and paid the land on a table in the recap office, i met staff and owner,, took a chance but felt comortable,, all freinds and family were like your crazy--- [Moderated: no free ads please]

The funny part of the last post is he is a liar. This person works for a company. What company ..., well ... Obviously in trujillo . Why would someone need to act or be someone they are not. This is to me considered fraud. Why not be who you are and say what you mean ?!?

The world is in crisis so I guess outfits in
foreign counties ( I live and work in Honduras) Lille ones in Canada have plenty of recourse and $ to minipulate what is correct as DIRECT beachfront for sale.

CANADIANS: check out La Ceiba before giving ANY deposit to anyone in Trujillo or Canada.

so funny ,, you know i came on this forum to help out and try to tell people my expirience that i had in trujillo .... i actualy stayed at palma real in la cieba... BECAUSE in the rest of the world there is alot of BS about honduras thay i would say its not true,,, i actualy went everywhere and didnt have any problems,,, NOW --- my 1st reply get moderated, mispelt, and some of you think im a liar------ lol my god,, anyways for those of you that want info that bought land in trujillo email me and i can help you with truth

trujillo is an upcoming paradise,,, theres going to be a cruise line port ready i 2012, most the land is already reserved for shopping malls and development,theres already another resort beside eco trujillo forecasted to go up ,, i was there in march, if hondurans are against it there crazy cuz were going to produce jobs and better future for them and there families,,( well not me im just a lot owner ) butas for resorts,malls,and whatever else comes with it, managers, cleaners, foremen, contractors ect

Could you please calm down here!

Thanks,
Harmonie.
Expat.com Team.

can i ask you why you guys deleted half my post,,,im trying to give honduras a good name because over here and the internet say its very dangerous,, and as for people buying in trujillo sure its a risk but so was costa rica, panama and most places like that years ago,,,,,,,, i bed alot of people cant answer this question ,,, what is the most rated dangerous place 2011 ,,, ill give you the answer,,,,, florida and miami,,,

you know i bought in the eco trujillo resort,, when there , when all around there and loved it,,

I too have purchased a couple of lots in the trujillo beach eco beach resort development. Have done as much DD as I can and believe it all appears legit. I see some risk for sure, but think that this is reflected in current pricing and upside potential. We are planning to visit in the next 6 months to see for ourselves.

Honduras Chris.......are you available to build at the Eco-Resort?

Hi, I am just purchasing one of the Trujillo lots and I am wondering about flights from Canada (Toronto or Montreal) to La Ceiba and/or Roatan. Has anyone looked into that? What airlines fly there? How long does it take roughly? What is the approximate range of airline ticket prices? Is the expectation that flight routes and timing will improve with the increased development over the next several years?

Also, for those who visited after purchasing, did the development meet your expectations?

Thanks. Deb

Hi Deb,

I was told to look at flights into Roatan operating weekly on Sundays. Expedia has return flights listed for about $700 and just over 8hrs in travel time (connections seem to happen in either Houston of Miami). I too am looking for feedback from those who have visited the Trujillo lots.

Good luck!

Has anybody started building on the land.Not sure if I want to start building right away or wait.I was told that the price right now is 70sq foot but that may change

I too purchased a lot in Trujillo with Recap.  I have nothing new to add to the conversation (it looks promising but there are so many questions), but it would be nice if we could get a blog/topic/whatever going for everyone who has purchased or already living in that area.  If I can figure out the tech, I might even give that a go myself.

Steinfam wrote:

Honduras Chris.......are you available to build at the Eco-Resort?

When you visit Honduras stop by La Ceiba and we can meet and go over your ideas or plans.
You can see beach homes under construction in many of my YouTube videos to hey an idea of home styles that are currently being built.

GoNSouth wrote:

I too purchased a lot in Trujillo with Recap.  I have nothing new to add to the conversation (it looks promising but there are so many questions), but it would be nice if we could get a blog/topic/whatever going for everyone who has purchased or already living in that area.  If I can figure out the tech, I might even give that a go myself.

Great idea - tech is not my strength so I am hoping you can figure this out. How can we draw other buyers into the conversation?

Thanks Cris I have seen very impressive videos. I will stop by when visiting the area .....

Steinfam wrote:

Thanks Cris I have seen very impressive videos. I will stop by when visiting the area .....

Lots of potential purchasers of the Trujillo project contact me regarding Honduras in general along with cost to build homes and other investment opportunities along the coast of Honduras.

If you give me advance notice and are looking for other ideas for investment, I have direct beachfront homes in La Ceiba Honduras that you can stay in while on your visit to Honduras.

There's many opportunities here. Search the net.

I'm open to giving advice besides what I may offer. I simply want Honduras to succeed in tourism and investments.

*This is not an advertisement. But, a true answer for foreigners in need of facts and oppinions in a foreign country named Honduras.

My name is Edward du Monceaux. I am Canadian and have lived on Roatan, Honduras for nearly 10 years. I have been a real estate investor for 40 years and professionally in real estate for 25 years. I researched for 2 years for the best places to invest in the world and for numerous reasons chose Roatan. It differs from the mainland in that is is primarily English, very safe, very beautiful with the second biggest reef in the world, white sand beaches, calm crystal clear turquoise waters and it is easy to get to. For example, right now you can leave Toronto, Canada and be on the beach here in 4.5 hours. Although I like the mainland and go there occasionally it has none of the above benefits. It is more expensive here but for excellent reasons. I have invested a lot on the island and seen great appreciation, good rental returns and much positive growth in infrastructure. Also Roatan is one of the only places in Central America or the Caribbean that has an organized real estate organization (affiliated with NAR in the US) and an MLS. As such we are held to a much higher lever of resposibility than other places including the mainland. No listings are even accepted unless there is proper titles registered, etc. It is very safe to buy from a member of the Roatan Real Estate Association.

IslandEd1 wrote:

My name is Edward du Monceaux. I am Canadian and have lived on Roatan, Honduras for nearly 10 years. I have been a real estate investor for 40 years and professionally in real estate for 25 years. I researched for 2 years for the best places to invest in the world and for numerous reasons chose Roatan. It differs from the mainland in that is is primarily English, very safe, very beautiful with the second biggest reef in the world, white sand beaches, calm crystal clear turquoise waters and it is easy to get to. For example, right now you can leave Toronto, Canada and be on the beach here in 4.5 hours. Although I like the mainland and go there occasionally it has none of the above benefits. It is more expensive here but for excellent reasons. I have invested a lot on the island and seen great appreciation, good rental returns and much positive growth in infrastructure. Also Roatan is one of the only places in Central America or the Caribbean that has an organized real estate organization (affiliated with NAR in the US) and an MLS. As such we are held to a much higher lever of resposibility than other places including the mainland. No listings are even accepted unless there is proper titles registered, etc. It is very safe to buy from a member of the Roatan Real Estate Association.

Ed, you have a few good valid points regarding Roatan.
But, along with more affordable real estate and not all foreigners want to live on an island ....  The mainland has been more attractive to investors and retirees. More than likely thus is why mainland real estate has been good to me.

Chris Barrett

Hi Chris,

I am pleased that mainland real estate has been good to you. It is always great to hear positive stories. I can understand that no everyone wants to live on an island although we have pretty well everything here now and we are insulated from all kinds of real world unpleasantness. Also if someone needs a break from the island we are just 10 minutes from La Ceiba. I can't agree at all with the comment that foreigners and investors prefer the mainland. Every statistic from everywhere shows that the number of tourists to Roatan is many, many times the number of tourist visits to the mainland and the difference in the number of real estate transactions annually is just as dramatic. All that being said, however 'viva la difference'! That is why there is more than one car company out there.

Best of Life!

Edward

Edward,  I was speaking of how well the Trujillo project has been doing along with that I'm a simple guy that has sold 49 beach properties this year alone in La Ceiba.

I hope all is well this coming year for everyone.

Salud Chris Barrett

Good work Chris! - Ed

Ed and Chris I am a new owner of a lot at Trujillo Eco dev. I value both of your comments and look forward to meeting both of you some day. We have a foot of snow here right now already. You can imagine I look forward to visiting Honduras. I'm sure both places have their unique attractions! Any idea what building costs are? Thanks so much.... Sharron

Chris
Thanks so much for the idea of looking at your videos in La Ceiba very impressive......Sharron

Also does anyone know of the progress happening with the new Banana Coast Cruise Port being constructed in Trujillo. Chris how do you expect this to affect your development?
Cheers Sharron