A Tropical Investment: Here’s What You Should Know Before Investing In Caribbean Island Real Estate

Whether you’re looking for a vacation home or a great retirement spot, purchasing Caribbean island real estate is a lucrative opportunity. Who wouldn’t want to live out their days enjoying a sunny day on the ocean? 

Making this real estate investment is an excellent idea, but you need to make sure you’re fully informed before you sell your old house and move. The last thing you want to do is buy a home that turns out to be a financial drain down the road. 

Read on for four things you should know before purchasing real estate in the Caribbean.

You Might Not Be Able to Work There

Depending on which Caribbean island you have your eye on, it’s not a guarantee that you’ll be able to find full-time work there. If you were planning on truly relocating, this is a major factor to keep in mind. 

In Jamaica, for example, it’s easier to find work if you’re a citizen of the British Commonwealth. If not, however, you’ll have to apply and be approved for a work permit before you leave. This means Americans can’t just fly down to Jamaica and expect to get a job. 

Puerto Rico, on the other hand, is a territory of the United States, so there’s no work permit required. 

Photos Can Be Misleading

We’ve all seen the pictures of a home that looks absolutely perfect. It’s right on the beach, with a gorgeous view of the ocean, and lots of space between you and your closest neighbor. The real estate agent is raving about it. Should you buy it? 

Here’s the thing — photos can be misleading. That fantastic ocean view might not be visible from your house and the house itself could be in a state of disrepair. 

You should always see the house yourself in person before signing anything. 

Weather Is Important

The image of the Caribbean is of a place where it’s always sunny and the weather is eternally perfect. However, the reality is that it rains a lot on Caribbean islands — and hurricanes are a real threat. 

Make sure your house won’t flood in case of heavy rains or storms so that you don’t get a nasty surprise down the line. 

Not Everyone Is Trustworthy

Because the Caribbean is such a fantastic place to live, there are a lot of pseudo-agents out there trying to make a quick buck off of unsuspecting investors. Not everyone who claims to be a real estate agent actually has the credentials or ethics you’re looking for. 

Be discerning in who you work with and avoid people who seem eager to push you into a deal you don’t want. You’re better off working with an organization like Strong|Edge Realty to make sure that you’re doing business with someone who has your best interests in mind. 

Invest in Caribbean Island Real Estate

Deciding to invest in Caribbean island real estate just might be one of the best decisions you ever make. Following the advice in this post will help you make sure that your new home is the house of your dreams — and not a nightmare waiting to happen. 

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