| Buying Into In Tropical Property |
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| Written by Simon M Skinner |
| Saturday, 18 July 2009 10:13 |
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There are people who dream of living in an island paradise and then there are people who buy an entire island to become their playground. Think Mel Gibson. Well, since you are neither one of the two, you can invest in real property in the island paradise of Antigua in the Caribbean!
There are people who dream of living in an island paradise and then there are people who buy an entire island to become their playground. Think Mel Gibson. Well, since you are neither one of the two, you can invest in real property in the island paradise of Antigua in the Caribbean! What You Will Get Since there is only so much land available, it is important to purchase some of the highly desirable land in Antigua while you still can. Just about anywhere in Antigua will give you incredible views so there should not be a problem in finding just the right land for you and your family. And the beauty does not just stop at the landscape of Antigua as the Antigua Carnival is an event that truly shows the beauty of the men and women through dancing to African music. It is truly a sight to be seen. What You Can Expect To Pay Just like any property in the world there are going to be some additional fees and costs associated with the purchase process that is above and beyond the actual sale price. It is important to know what those are. Expectedly, you have to pay for government-imposed fees related to real investment property. As buyer, you pay for the Alien Landholding License (5 percent of the property value), legal fees (1 to 2 percent) and stamp duty (2.5 percent). When it is all taken into consideration you may very well find yourself paying up to a quarter of the property value, just in fees and transaction costs alone. These are things to consider when shopping for the perfect property as it is always going to cost you more than the sticker price. What You Need To Do Even though it may start to sound like a lot to deal with, investing in property in Antigua really is not too complicated, especially since the government welcomes foreigners to purchase land. However, being an alien from another planet, er, country, you need to secure an Alien Land Holding License before you can proceed with the purchase. It will take at least 3 months to process so in the meantime, take your holiday in one of the island?s many rental villas. Many wonder why Antigua is always promoted as the place to purchase instead of Barbuda, its sister island. The answer is simply, the purchase of even a single rock is prohibited in Barbuda. Also, keep in mind that government being as it is anywhere in the world, the laws on buying real estate can be confounding to the average investor. You are better off hiring a property management service company that will handle the details and documents of the purchase. Once you have the deeds to the house and the land it is time to consider what your next step is. Is it to redecorate the house or to landscape the yard? No, it is to simply enjoy your newly purchased island paradise and relax some. This antigua real estate article is brought to you by www.paradisepropertiesconnection.com DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Paradise Properties Connection is a professional, full service personalized real estate company dealing on a one-to-one basis with exclusive clients. Paradise Properties Connection has comprehensive |