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For those with expensive taste and an appreciation for the finer things in life, we’re always looking for the next thing to set our sights on. There are many options when it comes to venturing into tropical climates for a great investment with a paradisiacal backdrop. Consider these tips for buying Caribbean property, and you may able to obtain an idyllic spot in no time.
Do Your Research
The first thing you’ll want to do is research different islands and areas. Some places are currently doing more than others to welcome tourists, travelers, and those seeking luxury estates in upcoming regions. Accounting for safety statistics, a growing economy, pleasing amenities, and whether or not you’re in the hurricane belt will help you make decisions.
Hire a Real Estate Agent
Hiring a real estate agent does more than simply takes time-consuming tasks off your plate. Seeking luxury property is an art form in many ways. Many truly exclusive properties with high-profile owners will not be listed as other properties are. Hiring a real estate agent who specializes not only in everything regarding the area, but understands laws, restrictions, and can find those “unlisted” beautiful properties is a must. Let a professional tailor your search to exactly what you’re looking for and save you time and effort.
Hire an Attorney
Hiring an attorney ensures that things are done right, the necessary paperwork is filed, and you are all set without question. A local attorney will help be the go-between you and a seller, drawing up the required bookkeeping, and following official procedure. You do not want to misinterpret laws for property in the Caribbean. Often, it’s a good idea to obtain a referral for an attorney from a fellow expatriate who currently owns property on the island and has gone through the process.
Some Caribbean islands require conveyance documents to be signed. Others have unique taxpaying parameters that must be met. Be sure that you are eligible for property purchase wherever you decide to settle. There are often mandatory requirements for non-native buyers. Understanding them will help expedite the process and avoid issues.
Get Land Surveyed
It is essential that you get land surveyed before purchasing. There are certain tax obligations associated with different areas. Additionally, if you are choosing to build on your newly obtained property, you’ll want to know what you’re allowed to build there, where you can connect to roads, and where utility lines must run. This is not something you want to learn after all is said and done.
These are just a few tips for buying Caribbean property. Certainly, there will be other factors dependent on where you choose to reside. There are many magnificent Caribbean islands not yet as popular and infiltrated by people, yet just as beautiful as some of the more known places.