Looking to purchase a holiday home abroad? Here are just 5 reasons to consider the Caribbean when looking to buy real estate abroad.
- The Climate
Whether you are familiar with the Caribbean or not it is likely that you are at least familiar with its climate. As discussed in more detail via the Geography Site, the Caribbean enjoys some of the best weather in the world, making it a fantastic choice of places to consider purchasing a holiday home.
Further, the year round sun and warm temperatures enjoyed throughout the Caribbean means that Brits looking to furnish themselves with a dream holiday home can not only ensure doing exactly that, but can from then on enjoy holidaying (whatever the season) in a country that will greet them with a truly warm and sunny welcome.
- The Scope to Bag a Slice of real life Paradise
Brits may be forgiven for thinking that the further away they look to purchase a holiday home abroad the more complicated the search could become. To dispel the misconception that adventuring further afield involves heightened risks and potentially getting a smaller return on the amount you invest, take a moment to familiarise yourself with the holiday properties provided by Royal Westmoreland, via the Royal Westmoreland website.
Situated in one of the most stunning, sunny and desirable holiday locatiosn the world over, the West Moreland Estate is situated in sumptuous Barbados and makes it easy for foriegn property buyers to literally bag a slice of paradise. Providing private and luxury villas and apartments up for both fractional and full ownership, ahead of investing in property somewhere as far flung as the Caribbean, why not indulge the family in a holiday there, opting to hire a Royal Westmorland villa for the duration of your stay to see for yourself if the Caribbean doesn’t provide the perfect home from home for you and your family?
- The investment Potential
Of course when thinking of investing in property of any kind and in any location, one major consideration is the potential financial return doing so could garner you with; suffice to say, nobody wants to sink their savings into a property that is likely to swallow up their money.
This is a reality which has been faced by many of those who jumped on the band wagon back in the 1990s and early 2000s and bought up holiday homes in Spain after the timeshare bubble had well and truly burst. Unfortunately, many who did so later saw their dream holiday homes being bulldozed due to having been built without first securing appropriate building permission.
In contrast, buying in the Caribbean is a sure thing, as discussed in further detail via the Luxury Magazine website: ‘Unlike other areas around the globe, the Caribbean has maintained a stable property market, particularly on islands including Barbados. Not only that, but the laidback feel that emanates from the Caribbean lifestyle is predicted to bring more property investors to the islands in 2015, due to the social and political unrest around other parts of the world.’ Hence, do not let concerns over buying into a far off property market daunt you; after all, it could in fact prevent you from making the best decision of yours and your family’s lives so far.
- Citizenship by Investment
There is such a thing called ‘citizenship by investment’ in which a person or couple who invest in buying property in a country are by doing so entitled to and awarded instant citizenship within that country. One such country which offers this is Barbados.
For those looking to buy a holiday property abroad, seeking citizenship in that country is neither a prerequisite nor a necessary undertaking. That said, those who do manage to secure citizenship can consequently enjoy the rights afforded citizens of said country, including the ability and choice to work within the country freely and as well travel to and from the country for unlimited periods without requiring a visa, or undergoing the often bureaucratic nightmare of attempting to secure a visa – or worse, be denied one.
To learn more about the Citizenship by Investment scheme currently being operated in certain parts of the Caribbean, continue your research via the Citizenship by Investment Unit website.
- Realistic Rental Potential
Finally, when buying a property abroad it is worth looking to buy property which enables owners to subsequently let out their property or rent it during periods of otherwise no occupancy.
If you invest in a holiday home abroad that you only intend to use for a few weeks or even a couple of months each year, it is sensible to (before buying) looking into the scope to rent said property out. This will not only ensure your property is at a low risk of being burgled as it will be occupied; it also enables you to defer the responsibility of up keeping your property to a letting agent which assures that the property is maintained during the periods in which you are not using it.
Most attractively though, renting out a holiday property you own abroad of course furnishes you and your family financially. Then, it is advisable to buy a holiday home in a stable market and one with a strong and longstanding tourist trade to ensure that you are able to make a continuous rental return.
As aforementioned, countries within the Caribbean and thanks in small part to their climate and stunning natural landscapes benefit from both of these things. Hence, when looking to buy a holiday home that really does give back and could even in time pay for itself, Barbados serves to give an example of a truly perfect one.