Savvy developers of waterfront property know that the lot right on the water is higher in value than those farther away. However, often buyers can still enjoy the view, one lot away from the water, if they look into purchasing an easement, in this case a scenic easement. Here are some short definitions to explain how it works:
Easement – right, privilege, or interest that one party has in the land of another party
Encumbrance – any right to or interest in land that affects its value
Scenic easement – an encumbrance on the title to a property to preserve it in a more or less natural or undeveloped state or to restrict building on the property to certain height levels
So, let’s say, Lot A is on the water, and you want to purchase Lot B, right behind it, for a lesser price than waterfront Lot A, but you still want a view. What can you do? You could purchase a scenic easement from the owner of Lot A that would restrict the development on the lot, either requiring Lot A’s owner to build only to a certain level (maybe one story instead of two), or for their home to be positioned in such a way as to not block Lot B’s view from their proposed home site.
It’s one creative solution to guarantee an ocean view, even if you’re not on the ocean.
Bahamian summer days involve lots of sun, sand and sea and every islander and visitor likes a little pick me up when the sun starts to move closer to the horizon. The Rum Dum, invented by Bahamian Wilfred Sands, is a classic cocktail that’s the perfect blend of citrus, sugar, protein and something every islander loves, Rum! It’s a perfect pleaser when paired with crisp cool cocktail bites on a patio overlooking a pink and red island sunset. Here’s the recipe from the Rum Dum’s inventor himself, Mr. Wilfred Sands, who can now be found behind the beautiful bar at the John Watling’s Distillery in downtown Nassau.
1 ¼ oz. JOHN WATLING’S Pale rum
½ oz. JOHN WATLING’S Amber rum
1 oz. egg white
1 ¼ oz. lemon juice
A splash of simple syrup or a teaspoon of sugar
Method of Preparation:
In a cocktail shaker mix the JOHN WATLING’S Pale rum, the white of an egg, lemon juice and simple syrup or sugar. Shake vigorously and pour into a short glass full of ice. Gently top it off with a JOHN WATLING’S Amber rum floater.
Wilfred’s Secret: After floating JOHN WATLING’S Amber rum on top of the drink do not stir it so as to better enjoy the different layers of taste.
Before you try your hand at this island classic, have one made by the masters at the John Watling’s Distillery on Delancy Street. Consider it an onsite class where you may have to indulge in more than one “lesson”.
Join the John Watling’s community by connecting to their Facebook page and learning more about their rums, the people who make them, and the special events they plan throughout the year.
The independence of the Bahamas was a memorable step for our country, making us a sovereign nation and changing many aspects of our culture allowing us to fully come into our own as a nation. Although we have been successfully independent for the past forty four years, there are a few little carry overs from our British colony days like:
Our language. To this day most of the Bahamian private and public schools teach English with a slant to British spelling and grammar. We spell favourite and colour, using “ou” unlike the Americans who don’t put a “u” after the “o”. You’ll often hear Bahamians saying “pardon” instead of “excuse” me or “supper” instead of dinner.
Throughout the islands, Bahamians drive on the left hand side of the road just like the British. The English have had this custom since feudal days when a knight travelled on the left to keep his right hand free for drawing a sword on a possibly hostile person passing on the right coming from the other direction. Almost all countries colonized by the British have kept this custom and we’re no exception.
Land. Because we were a former British colony, all land in the Bahamas not owned privately was said to be Crown Land, the property of the monarch. Although we are no longer ruled by a King or Queen, we still call land owned by our government, Crown Land.
Knights and Dames. Many prominent Bahamians, men and women, have been honoured for their contributions to our country by being knighted by the Queen. For men, they would now be addressed as Sir, and for women, they would be addressed as Dame.
From our customs to our architecture to our politics, the thread of our history with the British still colours life in the Bahamas.
So, you’ve decide to invest in Bahamian real estate. You’ve worked with your accountant and realize that you may receive a greater rate of return on a real estate purchase as opposed to keeping your money in the bank or investing in stocks and bonds.
Real estate values can fluctuate on either end of the spectrum, with some failing to produce returns and others having average or higher than average rates of return. While real estate as an investment can be high risk (it’s one of the reasons commercial banks often ask for a large percentage payment down prior to approving a commercial mortgage), like most high risk investments the rewards can also be great. Who’s who of the world’s millionaires and billionaires have made their fortunes investing in real estate.
Real estate as an investment requires active management from day to day decision making moving on through actual maintenance and management of the property. Who is going to deal with your tenant’s requests and payments? How should repairs and maintenance be handled? What physical improvements might need to be done to increase rental income on your property? How is the area changing and what does that mean for your investment? When would be a good time to sell or buy?
There are many decisions to be made with a Bahamian real estate investment. Assembling your go to team of professionals should not only include your accountant, your banker, and your attorney, but a licensed professional real estate broker who can assist you in familiarizing yourself with the Bahamian market and its opportunities. Reach out to us. You’ll be glad you did.
July’s word of the month is sky larking, pronounced just like it sounds, sometimes with a softened or silent “r”.
When someone is sky larking, they’re either proposing something so foolish to the listener that it can’t be considered seriously OR it’s just easy going messing around with no particular goal, or place to go, OR someone’s up to a little bit of tomfoolery.
Sky larking is so associated with summer, because combined with jumping off the jetty, biking around town, picking ripe summer fruits, there’s always just a little bit of teasing and mischief kids of all ages can get into on hot summer days.