It happens whenever you relocate somewhere you aren't entirely familiar with— the feelings of stress, fear, and panic, along with the "What are we thinking?!" moments. We're here to help avoid these scenarios, so we put together a list of the different and best (in our humble opinion!) areas to buy property in the Bahamas.
It's also important to determine what you are looking for when you begin house hunting. What are your hobbies? What do you need in terms of amenities within your home? Are you moving with your family, or a spouse, or solo? Do you prefer city life, or are you looking for something more laid back and casual?
Knowing the answers to these questions can help your agent determine which island is best for your needs and lifestyle.
New Providence is where 70% of the population lives, and where the country's capital, Nassau, is located.
If you're looking for a place where you can settle and also be in the middle of all the excitement that city life provides, Nassau is probably a great fit for you. From the city center to the glitzy nightlife, restaurants, and bars, Nassau offers the hustle and bustle of a busy city with lots of activity.
Because it's downtown center is a cruise port, most residents live on the outskirts of the urban center. There are some gorgeous home options in Western New Providence, and the Eastern coastal areas of New Providence which are worth exploring if you're looking to be out of the city center.
Because so many locals and ex-pats work and live here, you will find modernized buildings and infrastructure, great healthcare options, and premiere schooling options for children.
Nassau is a popular place to work and live.
Making up about 80% of the country's landmass, Out Islands or Family Islands are touted by locals as the place to get the 'true Bahamas experience.' Because so much of the Bahamas landmass is here, it's a great place for families to purchase property and settle down. There's plenty of room for kids to explore, families to grow, all with less tourist activity than on other islands.
Housing options vary between the three islands mentioned above, but most consist of beach houses, cottages, and even gated communities. If you are moving to the Bahamas with your family, or plan on starting one when you get here, Out Islands could be a great fit for your loved ones.
Mostly known for its outdoor sports and other activities, Grand Bahama Island is the perfect fit for someone who wants some of the city life experience, while also having the luxury of enjoying a less populated area.
This island is located the closest to Miami, FL. If you are looking for quick travel back and forth to the United States, this island may be your best bet.
Freeport is located on Grand Bahama Island and offers a unique environment to settle. It has both private island homes and gorgeous urban apartments. For those wanting some city bustle and some relaxed beach life, Freeport will successfully give you both.
When it comes to real estate shopping, even doing so in your hometown can be stressful. It's another added layer of stress to be looking somewhere you've never lived before.
Our team of agents are experts in not only finding beautiful Bahama houses for sale but aligning the homes we find with your wants and needs. Contact us today and we'll be happy to help you close the Bahama property sale you've only dreamt about. It's out there, and we will help you find it!
One of the first choices people looking to purchase real estate are faced with is whether to invest in a townhouse or single-family property. So how do you arrive at the right decision? We've compiled a few ideas for you to consider when making the all-important decision.
You must first understand the difference between the two.
A single-family home is a detached or stand-alone home that does not share any common areas or walls with another property. Typically, this term refers to a single property. In some instances, the property may be located within a development that has a HOA (homeowners' association) that manages some or all of the community's common areas, however, a single-family home is always a stand-alone property. Investing in a single-family home will have some definite advantages. First and foremost, the buyer makes all the decisions concerning any upgrades, repairs, maintenance and remodeling. While a HOA can place restrictions on a townhouse owner and limit your tenant pool, as an owner of a single-family home you have the freedom and flexibility to screen and select potential tenants.
An example of a multi-family property is a townhouse development, as there are multiple "homes" on the property. You must be sure to consider the ramifications of owning a "home" that is not detached but is part of a group of development of other "homes". While you may be able to landscape around your townhouse, the property management and upkeep of the property is undertaken by the HOA. One of the main upsides of buying a townhouse is financial, in that the maintenance and upkeep costs are shared across all the townhouses and therefore are typically lower than a single-family property. Townhouses are also typically smaller in size, and the tenant pool is usually larger as they are looking to rent small to moderately sized units.
With any investment, you want long-term profitability through appreciation in value. A property's appreciation is the value added to the investment over time through a combination of your property improvements and with any luck, benefits from market changes.
When purchasing a property, it is vital to first consider several key factors. You need to satisfy your highest needs. Location, of course, matters a great deal. As the investor, you need to be aware of the state of the housing market and decide which kind of property will best suit your family's needs. Only a trusted professional can provide you this insight. Our team here at Morley is always ready and happy to assist.
When you're selling your home it can be tempting to try and go it alone. Maybe you don't want to work with a real estate agent to try and save some money, or you just think it won't make much of a difference. Although there are people who decide to go it alone with some degree of success, there is much to consider to guarantee the very best outcome for you and your family. The truth is there's a lot that goes into selling a house you may not have considered. Depending on your level of experience with buying and selling homes you may not know even the basics of how things work. Agents do more than just bring in potential buyers and show up to have documents signed. They know all the ins and outs of both buying and selling a house.
If you're trying to sell your home you really do need to consider all your options to make your sale a success and that includes using a real estate agent. The reasons you need an agent to sell your home are the same no matter where you are. Having a good agent to sell your home is invaluable. Here are some important things you should take into consideration when deciding whether to get a real estate agent to sell your home.
Real Estate Agents Have More Experience
Unless you're selling houses every day along with your normal day job, you won't have as much experience as an agent. Experience can make a huge difference in getting your house sold quickly or having to drop the price because it has remained on the market for an extended period. Real estate agents are trained to know how to navigate the market.
They've prepared for this, taken and passed exams, they have done this before. This experience is valuable and worth the costs involved. Your end goal is the sale of your house sold and in a timely manner, and not lose money in the process. The agent's goal is the same as yours, they just know how to do it faster and better. They are equipped with information on all aspects of the sale from regulatory law to the best place to look for buyers.
Real Estate Agents are Professional Negotiators
Selling your house can be emotional. It's somewhere you've lived your day-to-day life as a family or maybe even grown into as a family. If you've put a lot of work into it, you can have an extra attachment because you know the amount of sweat equity involved in that work.
An agent is removed from all of that. Their main goal is to get your house sold and, if negotiations are involved, without the emotional ties that can prevent the making of a good deal. They aren't going to make a deal without your approval but are better able to guide and advise objectively.
Real Estate Agents Understand Contracts
Closing paperwork can be complicated. A buyer may have an agent with them during the closing, but, of course, that agent is there only to look after the buyer's best interests. You will need someone on your side, too. Sometimes last-minute issues surface right as someone is about to sign on that dotted line. For someone that doesn't deal with closings often these can be dealbreaker situations. The agent will be well versed with the language and structure of contracts, disclosures, and the proper closing process, start to finish. They will know what needs to be disclosed and what to do if something comes up as paperwork is being signed.
Real Estate Agents Can Give You Pricing Advice
Much like negotiating, pricing your home can be hard to separate emotion from. You know how hard you worked to get your home ready for sale, or the work you've put in over your years of ownership. It's difficult to keep that out of your mind entirely while settling on a price to list your home. Agents can help with this, as they know the neighborhoods, they know the market, and they know comparable housing prices. All these things factor into making sure you're pricing your home effectively. This is an invaluable resource to have when trying to make a sale.
Selling your house is not as easy as you might initially think it will be. There are many reasons you'll want to have a real estate agent on your side. From negotiation to fielding interested buyers there is much to consider. Hiring an agent to assist with the sale of your home is likely to take a lot of stress off of your shoulders, and may very well be the best decision you make during the entire process.