General FAQs about Nicaragua. | Nicaragua Real Estate Aurora

What’s the weather like in Northern Nicaragua?

Nicaragua has two distinct seasons--dry and rainy season. The dry season runs from approximately January to June, and the rainy season runs from July to December. The coast of Northern Nicaragua is a tropical climate that is consistently warm, approximately 72° F at night and 86° F during the day (22° C - 30° C).

Can I buy oceanfront property outright?

Nicaragua is one of the few countries in Central America that offers fully titled ocean front property for sale. Of the 100 miles of coast we cover at the Aurora Leon office, about 20 miles are fully titled. The beaches of Poneloya, Salinas Grandes, El Transito and Chinandega all have some titled beachfront areas. Like most of Central and South America, the remainder of oceanfront property is held in a governmentally granted lease with automatic renewal when the fees are paid.

What taxes do I need to pay?

Once you own your property you will be responsible for annual property taxes (the Impuestos de Bienes Inmuebles (IBI). This is paid to the localmunicipality. The amount is 1% of the assessed value given to your property by the Dirección General de Ingresos (DGI). The assessed value of the property is set each year and could be amended following any improvements made, however this is not the normal practice. Taxes are paid in arrears each year by March 31. If paid before March 31 certain discounts may apply. Assessed values tend to be less than market value. We offer an annual service to pay your taxes for you.

How much is homeowners insurance?

Homeowners insurance is available to foreign owners and is very competitively priced relative to what you might be used to. Your Aurora agent can help you find the right policy to protect your investment.

I understand Nicaragua has a history of property title disputes. Do I need to be concerned?

It is true that property title disputes occur in Nicaragua as a result of the civil war decades ago. Aurora Leon only shows properties with clear title histories and uses legal experts to ensure any property you buy has a clear title. If you use a qualified real estate agent and attorney, there is no cause for concern.

I’m planning to relocate with my kids. How are schools in Nicaragua?

Chinandega and Leon, as two of Nicaragua’s largest cities, offer many quality schools with instruction in Spanish. With the expat population growing, bilingual schools have formed in recent years. The capital offers International Baccalaureate programs and we expect to see international educational opportunities continue to grow in Northern Nicaragua.

Do I need residency to buy property in Nicaragua?

No. You can invest in property and own a business in Nicaragua without residency. If you plan to visit occasionally, you can stay in Nicaragua on a 90-day tourist visa. If you decide to reside in Nicaragua, you can apply for residency with the assistance of an attorney.

What is medical care like in Nicaragua?

Nicaragua offers first-world medical care including a world-class hospital in the capital that caters to medical tourism clients. In Northern Nicaragua, there are several public and private hospitals offering quality care. Health insurance policies are offered to expats on a yearly premium basis, for a fraction of the cost in the United States. Even without insurance, Nicaragua’s health care, including prescription drugs, is affordable out of pocket.

Is it easy to retire to Nicaragua?

Nicaragua is safe and affordable for retirees. The government offers tax incentives for retirees to relocate, including exemptions on income tax and importing household goods. Nicaragua also topped International Living’s Cost of Living Index in 2015 and is listed by US News & World Report as a top retirement destination. Northern Nicaragua offers some of the most affordable locations within one of the world’s most affordable countries.

Is Nicaragua safe?

Nicaragua is consistently rated as one of the safest countries in all of Latin America. Community-oriented policing has helped Nicaragua avoid the gang-related violence that has plagued other countries. Like anywhere, it’s important to pay attention to your surroundings and not to leave valuable items like phones and cameras in visible areas.