Category Archives: Making the Move
This article is part 1 of a 5 part series where we will show examples of long term rental properties in San Juan del Sur ranging in price from $350 per month up to $2600 USD per month.
The first rental we have to share with you is a furnished two bedroom, one bathroom apartment that rents for $350 USD per month.
This modest apartment is located in the neighborhood of Barrio Frente Sur. It is situated 5 blocks from the central market and 5 blocks from the beach. From here it takes approximately 15 to 20 minutes to walk to the Pali (local grocery store).
It is predominantly Nicaraguans – interspersed with a few foreigners – that live in this neighborhood.
Barrio Frente Sur is a typical San Juan del Sur barrio. Dogs roam freely in the narrow streets. Roosters crow at all hours of the day and night. And the explosion of bombas from central park can also heard at any given time of the day or night.
This home DOES NOT have hot water, air conditioning or a washing machine but it is equipped with the following:
- Shared Internet
- Cable TV
- 4 burner gas stove with oven
- “Newish” refrigerator
- Dining table for 4
- 2 double sized beds
- 2 floor fans
- Large covered deck
- Security bars on doors & windows
- Laundry sink & clothesline
- Back up water tank
PROS & CONS
The property’s central location eliminates the need for personal transportation. Bars on the doors and windows provide added security.
One of the best features of this rental is the large covered deck.
When it comes to furniture this rental is better outfitted than most at this price point.
Another plus with this apartment is the fact that it has a back up water tank. City water in San Juan del Sur is often out during the day. Living without a back up water tank grows old very fast.
This apartment has a few features left to be desired. Small windows in the bedrooms means limited airflow. Storage space is also very limited.
The kitchen is quite small, with very little counter space for food prep. And as you can see there is very little storage for dishes and nowhere to store food.
TOTAL COST TO LIVE IN THIS LONG TERM RENTAL PROPERTY?
The monthly rental rate for this property is $350 USD. This rate is based on a 6 month or longer term. Utilities (electricity, water, internet, cable TV) are not included.
The owner of this apartment told me the monthly electricity bill averages less than $20 USD. This is partly due to the fact that the property doesn’t have hot water, air conditioning or a washing machine.
The monthly water bill averages around $4 USD.
Internet is shared with the lower level unit. The owner charges $15 USD per month for the internet and cable TV package.
Propane for the gas stove is the tenant’s responsibility. A tank costs $10 USD. Depending on how much cooking is done a tank will last between 2 and 3 months.
Give or take total monthly cost to live here rounds out at $392 USD.
This apartment is best suited for a couple or two friends. It could also work well for a family of 3. It is great rental for those who don’t need all the comforts of home and want to keep their monthly rental costs low.
If you can live with minimal airflow in the bedroom and don’t mind putting out a few bucks to purchase some items like dressers, storage bins and seating for the deck this home ranks up there at the top of those in this budget category.
We are often asked, “How can I fund my life in Nicaragua?”
If you are not independently wealthy or ready for retirement a move to a third world country takes some ingenuity. Realistically speaking very few people would legally qualify to be able to work here. Even if you were not worried about taking a job away from a local the pay scale would not be encouraging. Local businesses pay $10 USD per day, which isn’t enough for most foreigners to even feed themselves let alone pay rent.
The most reasonable answer is to open or buy a business.
Opening a business in a country, climate and society you are not well versed in can be a challenge. It can also prove to be an expensive lesson. Without feet on the ground — finding a successful business for sale is difficult — as they are almost never advertised.
We have an opportunity that could be the answer.
Today we have a business that was struggling to stay open one year ago. Two new owners took over this fitness center and with very little investment and turned the business around.
Aside from the gym membership growing month over month, new revenue streams have been created. The original space is now sublet to four businesses that contribute to the profit. A Crossfit Club, an MMA Club, Boxing events promoter and a Motorcycle Rental company all share the space and cross promote the group of businesses.
One of the owners is looking forward to moving on to the next challenge. She owns 80% of the business and is offering her portion for less than 30K USD including all assets. The second partner is involved in two of the contributing businesses and is fully invested in the growth of this business.
This is a great opportunity especially for someone new to the community.
- Buy a business with a low entry barrier;
- Proven successful business model;
- Your revenue is diversified with other contributing businesses on site;
- 80% ownership means that in the end you call the shots;
- You have a partner with 5 years living in San Juan del Sur that owns successful businesses.