Best Caribbean Island To Buy A Vacation Home
But the Caribbean is also known for hurricanes, which are a constant worry. As hurricane activity has become more intense in recent years, some are questioning whether it makes sense to purchase a vacation home in a region where property can be destroyed in the blink of an eye.
best caribbean island to buy a vacation home
We found 10 towns outside the U.S. with a solid mix of safety, affordability, great beaches, and easy-going real estate rules. We made sure these towns are great for both full-time expats and folks planning to buy a part-time vacation home.
With a watchful eye on affordable options for Americans with wanderlust, we gave the heaviest weight to home pricing. After determining the top countries for expats, we found the best beach destinations with the help of publications such as Condé Nast Traveler and TripAdvisor, then we checked to ensure the nearby towns met our affordability goals.
For buyers in search of the finest luxury homes, where are the best places to buy real estate in the Caribbean? St Barts has long been known as a preferred destination of the jet set crowd but several other destinations should also be on your radar. The Cayman Islands is currently one of the most popular destinations for luxury lifestyle seekers. Along Seven Mile Beach on Grand Cayman, you can find ultra-luxurious residences overlooking the beach with access to superb collections of hotel-style amenities. With one of the most vibrant real estate markets in the region, properties for sale on Seven Mile Beach rarely remain on the market long. Real estate on the exclusive island of Anguilla and the breathtakingly beautiful Turks & Caicos Islands is also highly sought after. Discerning international buyers are drawn to their outstanding white sand beaches, views of brilliant turquoise waters and very high quality real estate. Apartments and villas fronting on to beaches such as Shoal Bay, Meads Bay and Barnes Bay in Anguilla and Grace Bay and Long Bay on Providenciales in Turks & Caicos offer a luxurious lifestyle in a world-class setting. Nearby in The Bahamas, buyers will discover exceptional luxury homes and condos in highly exclusive destinations such as Paradise Island, Lyford Cay, Old Fort Bay and Albany.
If you would like to to enjoy a celebrity-worthy setting on a more modest budget there are several options available to you. So, where exactly is the cheapest place to buy real estate in the Caribbean? Several destinations would be well worth exploring. In both the Dominican Republic and Mexico it is possible to snap up condos for under $100,000. In Jamaica, Belize and the southern Caribbean island of Bonaire, properties with comparatively low price tags are also available. Prices for condos in some areas can start at US $100,000 to $150,000. The idyllic island of Roatan is also one of the cheapest places to buy a house in the Caribbean, with prices for detached homes just a stroll from the beach starting at US $200,000 to $250,000.
For buyers approaching the end of their working life and looking for a stress-free destination to enjoy their next phase of life, where are the best places to retire in the Caribbean? There are several destinations that would be ideal. If you would like to enjoy a high quality of life with a relatively low cost of living, you could consider retiring in Roatan or the Dominican Republic. The Dutch Caribbean islands also offer a high standard of living for retirees. With its breathtaking white sand beaches, wide range of entertainment and high quality healthcare, Aruba offers a fantastic lifestyle for retirees, while Curacao has introduced specific tax incentives for pensioners who become resident on the island so how about retiring in Aruba or retiring in Curacao? Several Central American countries including Belize and Panama operate retirement programs offering a host of benefits to retirees. If the idea of retiring on a small, quiet, secure island sounds appealing, be sure to also take a look at the tranquil islands of Montserrat and Nevis which both offer luxury villas in a serene laidback setting with a slower pace of life.
To find out more about the best places to buy a home in the Caribbean and to begin your search for real estate in the Caribbean, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
The only thing Caribbean islands have in common is that all of them are surrounded by the beautiful ocean and the temperature is great. The Caribbean islands are very diverse and each is unique. Do the research. Your 2-week vacation may give you the idea you are in paradise but that is not enough time to tell you what you need to know. Look further than the postcard experience. What are your requirements? Do you like to retire in paradise? Then you should check if there is adequate health support. You can choose to live remotely and enjoy the tranquility or do you want to live on a party island? Find out how developed the infrastructure is (roads, water. electricity, phone, and the internet).
I lived through this mistake myself. I built my own home. My advantages over you; 1. I worked and lived on the island. 2. I knew a lot about the building process and knew the contractor. 3. I could get a good deal on the building price and I could make my own building contract.
Hmm. Even though islanders are easy-going, the Caribbean governments can make a process difficult for foreigners, even for locals, when buying a home. Government bureaucracy and the cultural differences can make purchasing your dream home a long and drawn-out process.
Owning a home in paradise; no shirt, no shoes, sipping a margarita. Life can be so beautiful. I do not want to get you discouraged, but there is more to it. It is a lot of work maintaining your home. Especially for the buyers who buy a vacation home. When something breaks or e.g. your roof leaks, you might spend your entire visit working on your property or meeting up with the ones fixing the problem. Because everybody works on island time. If, and only if, the materials are on-island it can get fixed.
Hi Simone, thank you for your comment. I have been to Barbados and I have been in doubt myself to stay and live there. Barbados is beautiful and I had the best time on my vacation there. People are nice and the island is clean and like the BVI there is almost no crime. I would recommend you to stay for longer like you suggest to really get a feel for the island. We always go and love silver sands because of the surf.Love to hear your stories and if everything works out! For now, have a tremendous weekend!
Hi Suzanne, Thank you for your feedback! It is extremely hard to purchase in the BVI, the government process will take a minimum of 6 months which scare buyers away. On the upside is that not many people are willing to follow these steps and therefore the island is still a little tropical paradise and you can have the beach all to yourself.I have been to Barbados too and there is a huge difference between the 2 islands. But I must admit I love them both. All the best with this decision! Suus
Dear Nathan,I would recommend you to visit a few of the islands that have your interest. All islands are completely different. Curacao, for example, is a flat very dry island, but it has great restaurants and lots of activities. And houses here are very affordable. The remote small islands such as the BVI and USVI are beautiful green and is a great place if you like to unwind. Prices here are much higher.It all depends on the location what the normal rate is for property managers. It can get as high as 45%. But there are many islands who take a lot less. Hope this information helps and you find your getaway from home in paradise!
I am thinking about purchasing a home in Curacao.I live in Marlton,NJ and just came back from my 2nd visit to the island on May 14.I know your familiar with the island,so I definitely need to speak with you about the process.Thanks and enjoy your day.
Great read.My wife and I are starting to plan our retirement as snowbirds. Spending December through April in the aribbean and the rest of the year Southern New Jersey.I see many of your commenters have visited many islands before they settlers one one place. What is the best way to visit several in just 2-3 years with out spending a fortune?
Owning a second home in the Caribbean is a dream of many and well worth working hard for. The Caribbean is the perfect place for your holidays or retirement. With a home in one of the countries here, you will have a place to go for your planned and unplanned getaways. You will also have a ready residence when you retire and want to enjoy your golden years in a tropical island paradise.
Owning a residential property in one of the beautiful islands in the Caribbean also allows you to have another passive income stream. You can turn it into a vacation rental whenever you are not here. Since all Caribbean islands receive hundreds of tourists every month, your chances of someone renting your home several times throughout the year will be higher, allowing you to have another possible source of steady income.
The cost of living in Dominica is low to average when compared to other Caribbean countries. However, its economy is stable and growing, and the living standards are good. Dominica also has an almost non-existent crime rate. On top of it, the official language here is English. As such, it is the perfect place for your yearly holidays, unplanned getaways, and retirement. It is also a popular destination for tourists, which means you can surely earn additional income when you turn your property into a vacation home whenever you are not in the Caribbean.
For buyers looking for homes and properties that they can rent out to vacationers, you will want to look at places with the ability to generate high income. For example, locations such as the Dominican Republic have a highly developed sector for tourism that welcomes visitors from overseas.
If you are looking to acquire real estate and gain citizenship to a country, there are several island nations that offer Citizenship by Investment programs. The program, however, does have costs and fees, and the benefits differ between locals. Some of the best places to buy in the Caribbean to take advantage of this offer include Antigua and Barbuda, Dominica, Grenada, and St. Lucia. 041b061a72