Bahamas Real Estate Tips
Whether you’re looking to buy Bahamas real estate as an investment
property or as a vacation home, you’ll face some unique challenges.
Below are a few tips that can help you avoid the possible pitfalls associated
with buying a property.
Location, Location: When buying Bahamas real estate, it’s
important to chose the location carefully. On main islands such as New
Providence and Grand Bahama, house prices are more than double those
in Florida. These islands tend to have better infrastructure and facilities,
but are also more populated. If you’re searching for an investment
property in the “heart” of the Bahamas, the main islands
may be a good choice. On Family Islands, houses are less expensive,
but accessibility may be an issue. If you’re looking for a vacation
home to serve as a “quiet retreat”, you may want to consider
buying real estate on one of the Family Islands.
- View Several Properties: Don’t buy the first property
you’re shown. Once you’ve pinned down a location, view several
properties in the community to get a good overall picture of the market.
When you find the right property all the leg work will have been worth
- Inspect The Property: Don’t take anything for granted.
Have a certified professional inspect the property, and go over the
inspection report carefully. Contact the Bahamas Real Estate Association
for a licensed agent.
- Consider The Hidden Costs: So, you’ve found the perfect
little beach front home in the Exumas - all for the bargain price of
$200,000. Well, just be aware that tax-haven or no, that price could
rise significantly. While it’s true the Exumas do offer some excellent
real estate opportunities, especially for sailing enthusiasts, just
like everywhere else on the Bahamas, you have to pay stamp duties taxes
and registration fees there as well.