As more US baby boomers consider countries like Nicaragua for their overseas retirement, we thought we should write an article indicating some of the reasons why it may not be the right choice for some. Of course the only way to really know is to spend some time in the country getting to know the place. Secondly if you’re looking to purchase real estate in Nicaragua, try and rent in the target area for at least six months before purchasing.
If you are not prepared to spend the time learning Spanish, Nicaragua may not be the best choice for a retirement. Of course you can get by with speaking in English but you’ll find you’ll get more out of life if you can speak the local language.
If you get quickly frustrated with slow bureaucratic processes, then Nicaragua may start to get on your nerves. Expatriates who are able to ‘go with the flow’ and adjust to a different pace of life do best in Nicaragua.
If you want access to world class restaurants, fine French cheeses and Italian wines you’ll find these difficult to access once you leave the capital city of Managua.
It’s important to note that Nicaragua’s property market does not operate under a US type multiple listing service. So if you’re the kind of investor who gets frustrated by a lack of reliable data on the market then Nicaragua may not be the place for you.
Nicaragua is a developing country which means that in certain areas infrastructure is patchy and services like electricity and water can be interrupted. If this kind of thing will completely ruin your day, then once again Nicaragua should probably not be top of your list as a retirement location.