Investing in a property in the Caribbean can be one of the most exciting and rewarding things you can do in your life.
With a home in one of the beautiful islands in the Caribbean, you can have a condo, villa, townhouse, or beach house where you can enjoy your long vacations and unplanned getaways.
Your Caribbean property can also be your retirement home, all set for occupation once you’re ready to enjoy your golden years.
Additionally, if you invest in approved Caribbean real estate investment properties, you can legally get a second passport and enjoy dual citizenship.
Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia are Caribbean countries with Citizenship by Investment Programs (CIPs) that enable foreigners to own a second passport.
The passports issued by these nations are some of the most powerful in the world, allowing you visa-free or visa-upon-arrival entry to more than a hundred countries all over the globe.
For instance, Antigua and Barbuda passport holders can enter more than 150 countries, including Australia, New Zealand, Singapore, China, and Schengen nations.
Obtaining second citizenship from the countries that offer CIPs also lets you enjoy some tax benefits, such as low duties or exemptions from estate, wealth, inheritance, and capital gains.
The opportunity to own a home and second passport and enjoy lifetime dual citizenship and various tax benefits make investing in a Caribbean property pretty exciting and rewarding.
Narrowing Down Your Property Options in the Caribbean
When you want to look for properties to buy in the Caribbean, you don’t have to fly to this part of the world to view all homes on the market.
You can start your search by looking at various properties in the Caribbean online.
Real estate and Caribbean second citizenship consultancy websites have listings of homes you can buy here. You can filter your search to countries you are interested in to save time and look only at options that meet your requirements.
Once you have shortlisted the properties, get in touch with the real estate agent or property advisor to find out if they offer virtual viewings.
Virtual property viewings allow you to go through a virtual walkthrough of a home. The agent or advisor will walk you through the condo, villa, or house using a video conferencing tool to let you see it inside and out.
A virtual home viewing is an excellent way for you to see and get a feel for a property. The walkthrough can help you decide whether the home meets your requirements. If not, you can tell the person you’re talking to that you’re not interested in it and move on to the other options.
Because of this, you can save yourself and your property agent or advisor a lot of time and trouble.
A virtual viewing can also help you decide if the property is worth a visit to the Caribbean for a first-hand, closer, and more thorough inspection.
The virtual walkthrough lets you narrow down the properties you want to view in the Caribbean if you have plenty of homes on your list. This will allow you to manage your time wisely, especially if you won’t be staying long here.
If you want to buy a property in Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, or St. Lucia to obtain second citizenship, know that you are not required to visit these countries during your application.
A virtual property viewing is one way of choosing a home you can purchase without going abroad because you have a busy schedule or simply can’t travel.
Tips for Getting the Most Out of Online Listings and Virtual Property Viewings
Below are some tips for using online listings and virtual property viewings correctly to invest in the right property in the Caribbean:
Study The Photos on the Listings Thoroughly.
When you’re buying a property overseas, you’ll have to rely on photos to narrow down your choices for your potential home.
Spend as much time as you can looking at each photo of the property. As you scrutinise each image, think about the following:
- The locations of the windows and if the rooms get enough natural light.
- The quality of the built-in fixtures.
- How the furniture you want to get will look in each room.
- The outdoor space.
If there are missing or low-quality photos of certain rooms, ask the property agent or advisor for these.
When looking at the images, try to think if you’ve seen them before on other websites. Some agents recycle pictures of properties because they don’t want to take new photos themselves or hire professionals to do it.
If you’re really interested in the property but not satisfied with the photos, ask your agent or advisor for more.
Make The Most of The Virtual Property Viewing.
Whether you do a recorded virtual property viewing or a live one with the property agent through a video call, ensure you go through the process correctly so that you can decide if the home is worth paying a physical visit to, or purchasing.
Here Are Some Tips For Doing So:
- Choose a good time for the virtual walkthrough. Try to schedule it during the busiest hours of the day so that you’ll know if the neighbours are noisy and if traffic can be deafening.
- Prepare a list of questions about the rooms you’ve seen photos of. If you’re unsure of the colours of the cabinets, ask what their actual hues are. Find out if the furniture comes with the property. Lastly, enquire about its location, amenities, property yield, and current prices per sqm in the area.
- Ask the property agent or adviser to be on a video call with you throughout the walkthrough. They have to be present to answer your questions and give you a running commentary as you go from one room to another.
- Request a built-up size or floor plan beforehand. A wide-angle camera is often used during a virtual walkthrough, making the interior spaces look larger than they really are. The property’s floor plan can help you have a better picture of the rooms’ and hallways’ sizes and other features.
Also, ensure you have a good understanding of video conferencing and try to use a device that will allow you to have an excellent virtual property viewing experience.
- Take note of anything you might want to renovate.
While looking at photos and during the virtual viewing, figure out which elements of the property work for you and which areas you would want to change or improve.
These can include the paint, lighting fixtures, cabinet doors, etc.
Take note of fixtures and features that need additional TLC as well so that you can decide whether to keep them or not.
Using online property listings and virtual walkthrough services can help you get a good head start in buying a home in the Caribbean.
Whether you plan to view the properties in person or not, these online solutions allow you to effectively narrow down your options.