What to expect when purchasing a vacation home

Blog Photo: 
Jan, 30 2020
Vacation Home, Purchasing Real Estate, Homes in the USVI, US Virgin Islands Real Estate

Tips and tricks as you plan to invest in the US Virgin Islands!

So, you’ve decided that the US Virgin Islands is the perfect vacation spot for you! Great – now what's next? We have compiled a list of things to consider when purchasing a vacation home here that will help you better understand the process of owning a vacation home. 

Our team of experienced realtors who understand the lifestyle and real estate market can help you find your perfect home in paradise.

1. Will you be renting out the property when you’re not vacationing there? 
If so, ensure that the community allows for short-term rentals and any tax laws that may accompany accepting income for renting property. We can help clarify the regulations that go into renting out your vacation home!

2. What lifestyle are you looking to accommodate? 
Consider whether this will be a retirement home or a family vacation home. What lifestyle are you looking for at each stage of life? Our team has incredible knowledge of the culture and lifestyles of the US Virgin Islands and can help you find a home that fits your desires.

3. Have you decided on a budget? 
Consult with your accountant or financial advisor to decide on a predetermined budget. From there, we will find the property to accommodate your price point while still being your perfect piece of paradise.

4. Have you considered condos or fractional properties? 
Condos or fractional properties have their own benefits when considering a vacation home. You can learn more about the pros and cons of owning a home, renting a condo or fractional property by checking out our September blog post.

5. Are you planning to pay with cash or through a mortgage? 
The process timeline will depend on your method of payment. We guide you step-by-step to ensure a seamless home-buying process!

You can check out our latest listings here to find your perfect vacation home and contact one of our knowledgeable associates.