Small House Tour 🇳🇮 Fatima Nicaragua 3B/2B $450
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- Опубліковано 27 сер 2024
- #nicaragua #walkingtour #housetour
Residencia Fatima, Leon, Nicaragua
3 Bed / 2 Bath, Unfurnished, Very Quiet Neighborhood for $450/mo
Today I talk about the challenges of real estate searches in Nicaragua, drive from Sutiava to Fatima, doing a walking tour of the residencia Fatima, and show a small $450/mo attached house in the middle of the residencia with three bedrooms, two baths, lots of front to back (and top) cooling.
1 July 2023
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Greetings from Esteli
I like this place
Didn't care much for managua and matagalpa
hello there!
Thanks appreciate the effort
My pleasure
Yeah the yard is a little too small for my liking. As some others have mentioned, maybe you could go over the costs of traditional building materials + labor costs in Nicaragua. I'm wondering if it might be worth considering building on a plot of land rather than buying a premade house. Because I've seen some pretty nice plots of land for cheap. Whereas houses seem to be inflated more
Houses seem inflated? Houses are SO cheap here. Cheaper than the cost of building supplies.
ua-cam.com/video/AwFa8z7hV-M/v-deo.html
@@ScottAlanMillerVlog When I say inflated, I mean on real estate websites. Locally the prices are probably better
Oh, I've said that in video after video. ALL real estate websites are fake. They exist only for the "hail mary" market of foreigners who are refusing to do things the Nica way. Since Nicas don't do that and expats that have been here any amount of time know not to, it exists only for people who are essentially advertising that they are trying to avoid Nica-style pricing. Most of the real estate on those sites isn't even real, at that price or any price. I spent a year making offer after offer and figured out (only because I have multiple construction teams in country that would visit the properties in person) that the "agents" didn't represent the houses, the pictures weren't of the actual houses, many times the locations were different and most of the time the entire deal was fake and the seller wasn't aware that people were looking at the house because it wasn't actually for sale!
Here is my Hail Mary video...
ua-cam.com/video/TinG4LUu9t0/v-deo.html
you popped-up on my radar - i live in central Leon - just saying hello
oh awesome!
Holy shit. Sounds better to buy some cheap land and build your own home. Could one do it Scott for less than 100k?
One cannot build for less than the cost of buying in the most depressed housing market in history. Houses are below construction costs.
Given that no house price exists as this house isn't for sale, what are people basing the cost of buying on?
Given that a lot is likely $50K just for the lot, hard to build very much very nice for under $50K of materials and labor.
This is literally the cheapest "to buy" market imaginable. We are in the running with Colombia for cheap houses.
You can absolutely build for less but that takes patience and inbedding yourself in the culture. It's about being connected to the people. Dealing with middle men drives the cost up considerably.
Hey Scott, Enjoying your videos of the different houses and neighborhoods. I liked the part where you had pointed the video out as you were driving so we could see more of Nicaragua. Hopefully you'll get a chance to do that more. Nicaragua is a safe country, and so why are there so many gated communities and guards to keep people safe? And also razor wire on walls? What demographics would such communities attract, is it mostly expats?
I get asked this about every other day, for real.
Nicaragua is so safe that many safeguards considered absolutely necessary in North America are often skipped such as locking or even closing house doors, having glass on windows and so forth. The culture of Nicaragua is one of living outside and many people outside the city centers live with their houses wide open and allow the inside and outside worlds to blend transparently. It would never occur to us to need to lock or even close our front (or back) doors like Americans or Canadians need to do. Even in the city, it’s common for houses to be quite open much of the time and even if the doors and windows are closed, the middle is normally wide open for cooling.
So instead of locking the front door, we secure the yard, instead. To do that we need the far less secure, but adequate for such a safe country, of barbed wire. That’s everywhere because it is cheap. Guards are not cheap and are only for a tiny handful of the richest citizens of which expats tend to normally associate so expat houses are often in gated communities because expats tend to be fearful coming from places like the US that are scary and want a level of security that locals find unnecessary; but also because they tend to own more stuff and have more to steal so are legitimately more likely to be targeted.
Unlike the US or Canada where the primary fear is armed home invasion, the primary concern in Nicaragua is petty thefts of opportunity. If it is quick and easy to step into someone’s yard and just swipe a laptop off of a garden table while someone is inside making coffee, it will easy happen (I’ve accidentally left the car unlocked and had a pack of cigarettes and $5 stole, for example.) But houses aren’t getting broken into.
For us, our gate guard is great because he accepts our food deliveries and opens and closes the gate for us. He’s for luxury and convenience, not for safety. The safety aspect is just a bonus. Remember the average American moving here is in the top .1% of income so does luxury things just because they can in many cases. Also remember that gates communities are often full of empty homes so you need someone watching them.
I have videos specific to these factors…
ua-cam.com/video/IINQVtifu_U/v-deo.html
ua-cam.com/video/tUZN-wEMzDQ/v-deo.html
ua-cam.com/video/XJ1gecK1cZY/v-deo.html
ua-cam.com/video/yu27YG9kQg4/v-deo.html
So while it might appear like Nicaragua is doing “so much” for security, in reality, it’s the opposite. What it does is very visible BECAUSE things are so safe that we don’t have to live hidden away indoors and so security has to be more visible and more grand because we are attempting to secure large outdoor areas or have indoors that don’t close up. Especially in cities like Leon, the houses don’t close at all from some directions so that tiny bit of barbed wire is often the only security that exists at all. It’s the locked doors and closed windows and sealed homes of the US and Canada that reflect the fear of invasion. The barbed wire is a sign of just how secure and safe we are here that we don’t need to do much to be safe.
No, gated communities mostly attract wealthy Nicaraguans, generally looking at second homes. So they are often empty at least part of the time. The only things that primarily attract expats are enclaves like SJDS, Playa Valero, etc.
I think "so many" is not a good way to think of the gated communities. More like "so few." I only know of about four in Leon. There have to be some that I don't know, but it's a small number. Tiny. And they are tiny communities. Fatima is the largest and in this video I literally show every single house in the entire community. San Andres is half this size. San Agustin is similar to San Andres. Los Altos de Veracruz is physically larger with big houses and yards, but only a similar number of houses to Fatima. It's possible that there aren't 200 homes in gated communities in all of Leon, a city of 300,000 people. In the US you'd have far, far more gated homes in a city of that size. These communities are highly visible and get a lot of attention because they are so rare and sought after. But they are not the norm at all.
And of those four, only two of them are gated and guarded all day long. Two of the four are open during the day and only close the gate and have guards on at night. So they are "semi-gated." That's the big ones, Fatima and Veracruz.
Of fully guarded... maybe 50 houses in the metro area? Definitely not a lot by any stretch.
@@ScottAlanMillerVlog Ok I understand. Thank you for taking the time give me such a detailed response.
"They're expecting everyone to be incompetent." LoL! 😂
❤
That's a regular size house for nicaraguans 😅
Very informative...thanks! Makes me uneasy about potentially buying house in Nicaragua. I know you don't believe agents are useful but how else can you protect yourself or find houses that are legitimately for sale and represented by the correct person? Also, are inspections and home insurance a thing in Nicaragua?
Reverse the question? How do you protect yourself with an agent? An agent adds no safety, none. But they do add a LOT of risk. A LOT. More than I could possibly explain. In fact, agents are the way you get fake sales. That's exactly how that happens. This is why I say you absolutely must leave North American thinking behind. In NA, agents are government representatives with specialized training and mandatory actions. They are like lawyers and public accountants. Here they are not. They are just random people who take a commission while looking for your house. They are under no legal obligation (at least historically, this is changing but we don't know details yet) to protect you AND since they are commission based a court can say that you PAID them to screw you over and it's all on you.
Logically, an agent makes no sense. They raise the cost of the house while putting you at risk. Protecting yourself in a home purchase is the same the world over... with a lawyer and a lawyer that works for you, not for an agent. Remember that a commission based buyer's agent is adversarial with you, they don't represent you. Your interest and theirs are conflicts. To be an honest buyer's agent, they'd have to warn you that they have a conflict of interest first thing. Bet any do that?
The thing that makes the agent system so scary here is all these Americans and Canadians who bring these concepts of how things work from the north with them and insist on doing things because that's how it is done back home. In the US, an agent makes things easier, but doesn't protect you. Your lawyer protects you but the agent and the lawyer often come together. The agent's value is in evaluating the house, but that's because they have the MLS. No such monopoly here (this is a capitalistic system here, none of that one company has extortion power like in the US). So the agent knows nothing that you don't know. In the US you can sue an agent that, for example, buys a house out from under you or can be proven to have worked with the seller to get the price as high as possible. Here, ha, of course they can do that because you as the customer are supposed to know not to hire someone to do that!
Even in the US all the clearance of titles and deeds and all that stuff is done by lawyers, not agents. There is something about US marketing and legal system that makes it seem like agents create some protection, but it's only because there is a HUGE legal framework to protect you from agents (and people get screwed by agents constantly anyway, it's still super risky). But in most of the world that doesn't exist. So people who are aware of how Americans have been taught the world over set up "agencies" to milk cash out of Americans who bring their American "this is just how we do it" approaches with them. It's a global thing that people need to be a lot more aware of. Some markets are better than others. But conceptually agents make no sense if you analyze their role. What protections do you imagine that they provide even in the US?
@@ScottAlanMillerVlog I've sold three houses in the US and only used a realtor once. So, I tend to agree with you about realtors. However, it seems like it could be a lot of trial and error just even finding legitimate homes for sale in Nicaragua without the aid of a North American professional realtor (and a huge surcharge). Glad to learn all this information before trying to purchase a house outside the US. Thanks.
No, that's very much the opposite. The fake listings are FROM the agents. That's the primary cause of the inability to find places. Literally everything you need protected against is primarily caused BY agents. Agents have so many ways to fleece you, they don't need to actually represent homes to do it. They just want to capture the gullible. So fake listings are the primary way that they do that.
SELLING homes, that can use an agent if you want. A seller's agent and the seller CAN be aligned, even if not legally protected. You take on big risk, but there is at least SOME amount of sense to it. But a buyer's agent would be considered professional negligence if a business were to work that way. There's no logic to one as they make no sense at all as they're goals are the polar opposite of the buyer's goals.
Remember the CONCEPT of a North American real estate agent (it's an agent, not a Realtor, that's the American monopoly and doesn't imply what you think at all - you DEFINITELY need to run away away away from anyone claiming association with that organization outside of the US!!!!) makes zero sense here. The concept. There's no "but" about that process. It's totally bananas as they are your enemy in every sense because you pay them to be. They literally get screwed if they do a good job for you and they don't add any legitimacy, legality, knowledge, access, etc. to the process. And they are your adversaries as they get paid more the more you get screwed.
This is what I'm trying to convey... everything you "think" an agent represents in North America comes from a legal framework that essentially forces you to use someone who is effectively a government agent to buy or sell a home. And while you get screwed in the US because of this, everyone is equally screwed (basically houses cost more than they should by a lot) and they are forced to not run scams without huge legal ramifications. Here literally zero of those benefits, and zero of those protections, exist currently. So every thought that you have of why you feel like you want an agent should logically make you say "for exactly the reasons I feel I want an agent, is exactly why I must avoid them."
High Water Table +Humid Climate +Concrete~> How much mold do Nicaraguan Residents have to live with?
Way less than you would guess. I assume because there is so much fresh air that it keeps it at bay. We pretty much only every encounter it in buildings that haven't been used for a while that have been shut up without being lived in.
I love that house! It is a bit pricey, but that neighborhood seems like a perfect place for someone just moving to Nicaragua. Of course, I wish it had a bigger dog yard, but the sidewalks and security of the neighborhood would make walking dogs easy. Do any houses in Nicaragua have dishwashers? I haven't noticed any in these videos.
In theory you can buy a dishwasher, but I've never seen one anywhere.
Dishwashers in Nicaragua have 2 legs 😂😂
@@damiami6519 that's what I was afraid of, lol. I love my dishwasher SO MUCH 🤣🤣. I'm only one person. Maybe I could get a portable countertop dishwasher that empties into the sink.
@matiasd.c9949 I'm not saying the house isn't worth the asking price. I realize that's a very nice neighborhood and justifies the price, it's just more than I personally would want to spend. Now if that house had a big yard where my dogs could run around, I'd be on my way to Nicaragua TODAY 😊.
Well this is THE luxury neighborhood of Leon. It's the absolute highest cost "per square meter" in the city, except for classic downtown locations and it's probably about equal. It's crazy expensive for even Leon. Much bigger place on the SE side, equally gated community, would be $100/mo less! Same size in most of the city would be $200/mo less. A FULL house in Casteleon would be $300/mo less. This is the "willing to pay for the address" homes of Leon. Literally most of your money is for the address, less than 1/3rd of it is for the house.
You are fine with your Corolla? I would love a 4 by 4 there for obvious reasons, but gas prices and gas guzzling is a big concern.
Yes, most of the time it's great. I chose it carefully after living here for a while. Mostly big trucks are for show, not practical. Farmers use them, obviously, for everyone else it's just "hey I'm trying to be flashy and showing how impractical I can be". Streets are small, parking can be tight. I wouldn't want one most days. Fuel efficiency is the name of the game here.
That said, there are places where you'd want a truck, same as anywhere. If you want to live in a remote area with bad roads, or constantly want to do adventure driving, yes, a truck makes sense. Or you are hauling stuff for work, sure. But trucks are mostly just a symbol of the idle rich.
One reason I like a Corolla is that it is low key. not only is it the cheapest car to own, it is in the category of "no one pays attention to you" cars. You don't get people angry with you (if you drive a full size truck, a certain percentage of people automatically are angry with you because so many truck drivers are just reckless kids with parents' money) just because of what you drive, you minimize environmental impact, you don't draw any attention so if someone was ever going to give you a hard time, you are the least likely.
@@ScottAlanMillerVlog I absolutely love Corollas and would be more than happy to buy one there for a good price, if, of course practical for the area and for rainy season. Thanks Scott
I like it there,nice place.Yes I agree its small but cozy!.My boss pays 400 Euros for a garage near the city center!.How far is Residencia from Subtiava?.Great information Scott!
Quite far. Subtiava is west of the city. Fatima is the northern point. So you have to cross the entire city west to east, and then center to north to get between them. Like 20-25 minutes.
@@ScottAlanMillerVlog oh ok, quite far!!
Yeah, it's a good distance.
25:52 Those houses have numbers? How do you tell'em apart?
They do. Nicaragua has addresses just like anywhere else. People just don't talk about them. If you look at the video closely I'm sure you see them on the houses.
22:59 Street w/no names
Even if it had one, everyone would refuse to admit it or use it.
sounds worse than the philippines, lol.
I'm comparing now
Been all over philippines past 36 years on and off
My first time in nicaragua
Country #99
And last country in Latin america to visit
Been here 10 days
I speak Spanish better than English