Beachfront Home in The Bahamas

When purchasing a beachfront home in the Bahamas, here are the 10 key factors to consider according to Glenn Ferguson, Licensed Bahamas Real Estate Agent, and Residency Consultant; and member of The Bahamas Real Estate Association (BREA) and Bahamas Multiple Listing Service (Bahamas MLS) :

1. Location:

• While the Bahamas is home to some of the world's stunning locations, dream home with breathtaking ocean views to enjoy the ultimate island lifestyle, Glenn suggests that you choose a desirable location with easy access to amenities, stunning views, and a safe environment.

2. Property Type:

• Decide on the type of property that suits your needs, whether it's a villa, condo, or private estate. Glenn says the most popular property types are houses and condos, with luxury homes being available in various sizes and configurations. 
• Low Range: Vacant land lots and condos average around $200,000.00
• Mid-Range: Condos and single-family homes average around $550,000.00
• High Range: Luxury homes, harbor lots, and businesses with property have an average of around $3.5 million

3. Budget:

• Glenn says that when deciding to purchase property in The Bahamas it is important to set a realistic budget that includes not only the purchase price but also maintenance costs, property taxes, and insurance. And while the average prices of beachfront homes in the Bahamas vary considerably having a realistic budget that reflects your desire is critical to achieving your home ownership dreams.  
• The average price of a beachfront home in The Bahamas is $1,961,632.00 US Dollars, ranging between $492,897.00 US Dollars and $67,500,000.00 US Dollars.

4. Legal Considerations:

• Glenn says that, while there are no restrictions on foreigners buying property in The Bahamas, it is important to understand the legal requirements for purchasing property in the Bahamas, including residency permits and property taxes for foreign buyers. Click to ASK Glenn about buying property in The Bahamas. 

5. Property Condition:

• Inspect the property thoroughly to ensure it is well-maintained and meets your expectations.

6. Amenities:

• Consider the amenities available in the area, such as beach access, water sports facilities, and proximity to restaurants and shops.

7. Rental Potential:

• If you intend to rent out the property, assess its rental potential and the demand for vacation rentals in the area.

8. Resale Value:

• Evaluate the potential resale value of the property in the future, taking into account market trends and developments in the area.

9. Insurance:

• Obtain adequate insurance coverage for the property, including hurricane and flood insurance, given the Bahamas' susceptibility to natural disasters.

10. Local Regulations:

• Familiarize yourself with local regulations and restrictions that may affect property ownership and use in the Bahamas.

Glenn says that, by considering these factors carefully, you can make an informed decision when purchasing a beachfront home in the Bahamas. Call or WhatsApp 1-(242)-395-8495 to get listings of Bahamas beachfront homes for sale today!