US Banks Offer Mortgage Loans for Nicaragua Property
Retirement colonies may not be available in Nicaragua as yet but for the active senior Nicaragua real estate makes sound business sense. Good weather and low cost of living are available to all who live here, but in addition there are several attractive incentives offered by the government to senior foreigners who want to retire here. Nicaragua also offers an opportunity to get involved in meaningful developmental work. Seniors can use their skills and experience to help the less fortunate who live in Nicaragua and help build a bright future for the local children.
Nicaragua property costs a fraction of what it does in the US. The infrastructure is being developed in many regions and modern houses are available in and around the beautiful colonial cities of Nicaragua. Choosing a suitable retirement destination requires thought on many aspects of the situation. Many people planning to retire may consider the presence or absence of a state income tax as a criterion for a retirement destination in the US. They ignore the fact that higher sales and property taxes can more than offset the lack of a state income tax.
The lack of a state income tax does not necessarily mean that one has a low total tax burden. Many states do offer seniors tax rebates but five states (California, Connecticut, Nebraska, Rhode Island, and Vermont) allow no exemptions or tax credits for pension and other retirement income that is counted in federal adjusted gross income. States like New Jersey, New York and Connecticut have extremely high property taxes. Living in Nicaragua real estate does not have any of these problems. Property taxes are much lower than anywhere in the US and the Nicaragua government offers foreigners many tax exemptions as an incentive for investment in their country.
The cost of living in Nicaragua is extremely low and with the growing ex-patriot community there is plenty of opportunity for social and leisure activities too. Nicaragua is now being recognized as a good investment opportunity by U.S. Banks for U.S. citizens with good assets and good credit ratings. US mortgage loans are now available for persons who meet the qualifications set down by the banks.