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by Ester Napoli
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e first is permanent residence which requires a purchase of a residence of more than $500,000, subject to a $10,000 one-time payment. Another level of residence is that of a homeowner where no minimum purchase is required, however, your card must be renewed every year for a fee of $1000. And the last level of residence is an annual residence where, again, no minimum purchase is required but you must renew every year for a fee of $1000.
Owning Bahamas real estate sounds spectacularly easy and that’s because it is. But there are some things to keep in mind when making an investment of this size. Here are a few guidelines to help you out when buying Bahamas property:
-Think location: Depending where you buy, prices will vary. On the main islands such as New Providence and Grand Bahama, prices are more than double the prices in Florida. If you’re looking for an investment property, these would be good choices. If you’re looking into buying a quiet retreat, consider something on the family islands as they are less expensive.
-Have a look: Once you have decided where you would like to buy a property, the next step is to have a look at more than one property so you can get an overall picture of the market.
-Take a second look: It’s a good idea to get a certified professional to look over the property just in case there are hidden surprises!
So whether you’re making an investment or buying a vacation home, the Bahamas will welcome you with open arms. All you have to do is make your ticket to paradise!
About the Author
Ester Napoli |
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