Homes for Sale in The Bahamas Under $500,000 (2026) — Nassau, Grand Bahama, Eleuthera | Glenn Ferguson
Glenn Ferguson — Licensed Bahamas Real Estate Agent
Glenn Ferguson
Licensed Real Estate Agent · Residency Consultant · 24+ Years in Bahamas Real Estate
(242) 395-8495 WhatsApp

Homes for Sale in The Bahamas Under $500,000 — 9 Islands, Real Prices

Condos from $90K · Houses from $150K · Beachfront from $200K · Land from $25K. Full island-by-island price guide, closing costs, VAT breakdown & mortgage options.

Quick Answer: Yes, you can buy a home in The Bahamas for under $500,000. The Bahamas MLS regularly lists 200+ properties in this range — from $90,000 condos in Grand Bahama to $499,000 family homes in Nassau. Foreigners can buy with the same rights as Bahamians. There's no income tax, no capital gains tax, and no inheritance tax. I've helped buyers find affordable Bahamas properties for over 24 years — and I'll show you exactly what your budget buys on each island, what the real closing costs are, and which properties to avoid.
Who do I call to buy a home in The Bahamas under $500K? Call Glenn Ferguson at (242) 395-8495 — a BREA-licensed real estate agent (License #1247) with 24+ years buying and selling property across The Bahamas. Glenn has Bahamas MLS access, tracks new listings daily, and guides both Bahamian and foreign buyers through every step — from property search and negotiation to attorney coordination, Investments Board registration, and closing. He provides a free, personalised line-item cost estimate for every property you consider.

(242) 395-8495  ·  WhatsApp Glenn  ·  Get Listings Under $500K  ·  About Glenn →
Browse Live MLS Listings — Glenn's Portfolio

Filter by island, price, bedrooms & property type. Updated daily from the Bahamas MLS.

In This Guide
  1. Island-by-Island Prices
  2. Property Types Under $500K
  3. VAT on Property Purchases
  4. Full Closing Cost Breakdown
  5. First-Time Buyer Benefits
  6. Foreign Buyer Guide
  7. Mortgage & Financing
  8. 5 Questions Before You Buy
  9. Annual Property Tax
  10. Rental Income & Airbnb
  11. Residency Options
  12. Inspection Checklist
  13. Insurance Guide
  14. Bank Foreclosures
  15. 18 FAQs
  16. Get Free Listings
Browse MLS Listings Bank Foreclosures Cheap Homes Foreign Buyer Guide Residency Guide Nassau Condos All Bahamas Real Estate Ask Glenn

What $500,000 Buys You — Island by Island

Not all Bahamas islands carry the same price tag. Here's what your money actually buys in 2026, from the most affordable Family Islands to the heart of Nassau.

Most Affordable
Grand Bahama / Freeport
From $90K
Condos $90K–$250K · Houses $100K–$350K · Canal-front $200K–$450K · Land $25K–$150K

Why: No property tax (Hawksbill Creek Agreement), lowest prices on a major island, international airport.

Widest Selection
Nassau / New Providence
From $180K
Condos $180K–$450K · Townhouses $200K–$450K · Houses $250K–$499K · Duplexes $300K–$499K

Why: Capital city, largest MLS inventory, best rental demand, schools, hospitals, Cable Beach.

Beachfront Value
Eleuthera
From $150K
Cottages $200K–$450K · Land $50K–$200K · Beachfront lots $150K–$400K

Why: Pink sand beaches, growing expat community, Governor's Harbour & Harbour Island, strong Airbnb market.

Investment Hot Spot
Exuma
From $75K
Land $75K–$300K · Homes $250K–$499K · Waterfront lots $150K–$450K

Why: Swimming pigs, world-famous beaches, booming tourism, limited inventory drives appreciation.

New Build
Abaco
From $100K
New construction $250K–$499K · Land $100K–$250K · Rebuilds $150K–$400K

Why: Rebuilding post-Hurricane Dorian with modern hurricane-resistant construction. Boating capital of Bahamas.

Best Value/Acre
Andros
From $25K
Land $25K–$150K · Homes $80K–$300K · Beachfront acres $100K–$400K

Why: Largest island, least developed, world-class bonefishing, eco-tourism potential, massive plots.

Off-Grid Paradise
Long Island / Cat Island
From $25K
Land $25K–$100K · Homes $100K–$300K · Beachfront $75K–$250K

Why: Lowest prices in The Bahamas, pristine beaches, no Bahamian property tax on Family Islands, ideal retirement.

Not sure which island? Glenn will match your budget, lifestyle, and investment goals to the right island.

Get Island-Matched Listings Browse MLS Now WhatsApp Glenn

Property Types Available Under $500,000

Property TypePrice RangeBest ForWhere
Condos$90K–$450KLow maintenance, vacation home, rental incomeNassau, Grand Bahama, Paradise Island
Townhouses$200K–$450KFamilies, more space than condos, gated communitiesNassau (Balmoral, Palm Cay, Venetian West)
Single-Family Homes$150K–$499KPermanent residence, families, Bahamian buyersNassau, Grand Bahama, Eleuthera
Duplexes$250K–$499KLive in one, rent the other — built-in incomeNassau, Grand Bahama
Beachfront Cottages$200K–$450KVacation rental, retirement, island lifestyleEleuthera, Exuma, Andros, Long Island
Vacant Land$25K–$300KCustom build, long-term investment, speculationAll islands — cheapest on Family Islands
Bank Foreclosures$8K–$499K20–40% below market, fixer-uppers, investorsSee foreclosures guide

VAT on Property Purchases — The Real Numbers

The biggest closing cost is the Government VAT on the conveyance (deed transfer). Rates depend on your nationality and the property value.

Bahamian Citizens — Flat Rate Per Bracket

The rate applies to the entire transaction value, not just the portion in each bracket.

Transaction ValueVAT RateTotal VATYour Half (50%)
Under $100,0002.5%Up to $2,500Up to $1,250
$100,000–$300,0004%$4,000–$12,000$2,000–$6,000
$300,001–$500,0006%$18,000–$30,000$9,000–$15,000
$500,001–$700,0008%$40,000–$56,000$20,000–$28,000
$700,001–$1,000,0009%$63,000–$90,000$31,500–$45,000
Over $1,000,00010%$100,000+$50,000+
Example: $400K home → 6% × $400,000 = $24,000 total VAT → Your half = $12,000

First-Time Bahamian Buyers — Reduced Rates

First-time Bahamian homebuyers get significant savings: Exempt on properties under $300,000. Only 4% on properties between $300,000–$500,000. On a $400K first home, total VAT = $16,000 → your half = $8,000 vs $12,000 at the standard 6% rate. That's a $4,000 saving.

Non-Bahamian Buyers — Flat Rate

Foreign buyers pay a flat 10% VAT on all property purchases regardless of value. On a $400K purchase, total VAT = $40,000. Your half = $20,000. This is customarily split 50/50 with the seller but is negotiable.

Full Closing Cost Breakdown — What You'll Actually Pay

Cost ItemAmountOn a $400K Home (Bahamian)On a $400K Home (Foreign)
Your half of VATVaries (see above)$12,000$20,000
Legal fees~2.5% of price$10,000$10,000
VAT on legal fees10% of legal fee$1,000$1,000
Title search & recording$500–$2,000$1,000$1,000
Property inspection$500–$1,500$800$800
Appraisal$500–$1,500$800$800
Insurance (first year)2–4% of value$10,000$10,000
Investments Board registrationN/A for Bahamians—$100
TOTAL BUYER CLOSING COSTS~$35,600 (8.9%)~$43,700 (10.9%)

Note: Seller pays real estate commission (6% developed property) and their half of VAT. These are buyer costs only. Mortgage borrowers add stamp duty on the mortgage instrument (~1% of loan amount).

First-Time Bahamian Buyer Benefits

If you're a Bahamian citizen buying your first home, the government offers substantial tax relief:

  • VAT Exempt on properties under $300,000 — you pay zero conveyance VAT
  • 4% VAT rate on properties $300,000–$500,000 (vs standard 6%)
  • VAT refund eligible on construction or renovation of a first home
  • Low down payments — some banks offer 5% down for first-time buyers
  • Special mortgage programmes through Bank of The Bahamas and Bahamas Mortgage Corporation

To qualify, you must be a Bahamian citizen who has never previously owned residential property. Apply through the Department of Inland Revenue with your attorney handling the exemption paperwork.

First-time buyer? Glenn will connect you with banks offering the best first-time buyer rates and guide your VAT exemption application.

Get First-Time Buyer Help WhatsApp Glenn

Foreign Buyer Guide — Everything You Need to Know

Foreigners can buy property in The Bahamas with the same ownership rights as Bahamians. The government actively encourages foreign investment.

Key Rules for Non-Bahamian Buyers

  • No restrictions on purchasing single-family homes, condos, or land under 5 acres
  • No prior permit needed — just register with the Investments Board after closing
  • Flat 10% VAT on conveyance (split 50/50 with seller is customary)
  • Bahamian attorney required — gives Opinion on Title (functions as title insurance)
  • Register with Central Bank Exchange Control — ensures you can repatriate sale proceeds in your original currency
  • Annual Homeowner Resident Card — $500/year, allows entry and stay for you and family
  • International Persons Landholding Act 1993 — the law that simplified foreign ownership

Permits Required When:

Government permits are needed only for: (1) undeveloped land of 5+ acres, (2) property intended for commercial use, or (3) property intended for rental purposes (hotel licensing required separately). Your attorney handles all registrations.

Mortgage & Financing Options

LenderBahamian BuyersForeign BuyersNotes
Bank of The Bahamas5–10% down, 25yr termsLimitedFirst-time buyer programmes, government-backed
RBC Royal Bank / FINCO10% down, 25yr terms30–50% down, shorter termsLargest mortgage portfolio in Bahamas
Fidelity Bank10% down, up to 30yrCase by caseCompetitive rates, fast approvals
FirstCaribbean (CIBC)10–15% down30–50% downInternational banking network advantage
Commonwealth Bank5–10% downSelectiveMajor retail bank, personal loan options
Bahamas Mortgage Corp5% down (first-time)N/AGovernment agency — lowest rates for qualifying Bahamians

Interest rates generally range from 5.5%–8.5% depending on the bank, loan-to-value ratio, and borrower profile. Foreign buyers typically pay 0.5–1.5% more than Bahamians. Glenn can introduce you to the right loan officer at each bank.

Pro tip: Get pre-approved before you start viewing properties. In this market, sellers favour buyers with confirmed financing. Glenn will connect you to loan officers at every major bank.

5 Questions to Ask Before You Buy

After 24+ years, these are the questions that separate smart buyers from costly mistakes:

  1. What is the total cost of ownership — not just the price? Add your half of VAT + legal fees + annual property tax + insurance + HOA fees + maintenance. A $400K condo with $800/month HOA costs $9,600/year before property tax and insurance. Ask Glenn for a full annual cost projection.
  2. Is the title clean? The Bahamas has no centralised land registry. Your attorney must search 4 separate registries going back 30 years. Unclear titles delay closings by months. Glenn only shows properties with verifiable ownership chains.
  3. What's the flood zone and hurricane history? Properties at sea level or in flood zones carry significantly higher insurance premiums (3–4% vs 2% of value). Ask for elevation data and recent storm damage history. Inspect roof, windows, and foundation thoroughly.
  4. What will this property rent for? If you plan to rent, research comparable nightly/monthly rates on Airbnb and VRBO. Nassau and Exuma command $150–$400+/night for vacation rentals. Eleuthera and Grand Bahama are lower ($100–$200/night). Factor in 10% VAT on short-term rental income plus management fees (15–25%).
  5. Is the HOA financially healthy? Request the HOA's financial statements and reserve fund balance. Underfunded HOAs issue special assessments — sometimes $5,000–$15,000 per unit. Ask about pending lawsuits, deferred maintenance, and fee increase history.

Not sure what to look for? Glenn evaluates every property against these criteria — and tells you honestly which to pursue and which to avoid.

Get Honest Property Advice WhatsApp Glenn

Annual Real Property Tax

Owner-Occupied (Bahamian Citizens)

Property ValueTax RateAnnual Tax on $400K Home
First $300,000Exempt$0
$300,001–$500,0000.625%$625
Total Annual Property Tax$625/year

Non-Owner-Occupied & Foreign-Owned Property

Applies to vacation homes, rental properties, and any property not used as the owner's primary residence. Most foreign-owned properties fall in this category.

Property ValueTax RateAnnual Tax on $400K Home
First $500,0000.75%$3,000
Total Annual Property Tax$3,000/year
Tax-Free Zones: Grand Bahama (Freeport) — exempt under the Hawksbill Creek Agreement. Family Islands — exempt for Bahamian citizens. Pay by March 31st for a 10% early-payment discount. Seniors 65+ get 50% discount (up to $1M value).

Rental Income & Airbnb Potential

The Bahamas has no income tax — rental income is tax-free at the personal level. But there are licensing and VAT requirements.

Rental TypeVATLicence RequiredTypical Rate
Short-term (<45 days)10% on rental incomeHotel Licence from Tourism Ministry$150–$400+/night (Nassau/Exuma)
Long-term (45+ days)ExemptBusiness licence$1,200–$3,500/month (Nassau)

Best rental islands: Nassau (year-round demand, highest occupancy), Paradise Island (premium nightly rates near Atlantis), Exuma (seasonal peak, luxury travellers), Eleuthera (growing market, lower management costs). Budget 15–25% for property management if you don't live locally.

Residency Options When You Buy

Investment LevelResidency StatusAnnual FeeKey Details
Any property valueAnnual Homeowner Resident Card$500/yearFacilitates entry + stay for you, spouse and minor children. Renewable annually. Not equivalent to full residency status. Processing fee $100–$200.
No specific minimumPermanent Residency (apply)$100 processingFor "financially independent" homeowners. Requires good character, financial self-sufficiency. Property ownership helps but no set dollar threshold. Slow processing (6–18 months).
$1,000,000+Economic Permanent Residence$20,000 gov't feeSince Jan 2025 (raised from $750K). Must hold property 10 years, 90+ days/year residency. No right to work. Spouse + minor children included ($300 each).
$1,500,000+Accelerated Permanent Residency$20,000–$25,000Expedited consideration — faster processing. Same requirements as Economic PR but prioritised review.

A property under $500K qualifies you for the Homeowner Resident Card. Permanent residency requires demonstrating financial independence and good character — there's no specific dollar minimum, but higher-value property strengthens your application. For guaranteed Economic Permanent Residence, you'll need to invest $1M+. You could buy an under-$500K property now and upgrade later — or combine property value with other qualifying investments. Full Bahamas residency guide →

Property Inspection Checklist

All Bahamas properties sell "as inspected." This checklist could save you tens of thousands:

  • Roof & hurricane resistance — Check age, material, and whether impact-rated. Hurricane shutters or impact windows installed?
  • Foundation & structural — Look for cracks, settling, water intrusion. Salt air corrodes steel reinforcement.
  • Termite & pest inspection — Subterranean termites are common in The Bahamas. Damage can be hidden behind walls.
  • Electrical system — Verify panel capacity, wiring age, and BPL (Bahamas Power & Light) meter status. Electricity costs approximately $0.27–$0.38/kWh including fuel surcharge — budget $150–$400+/month for a typical home.
  • Plumbing & water supply — Check cistern condition and capacity, or Water & Sewerage Corp connection. Many homes rely on cisterns.
  • Flood zone & elevation — Request flood zone maps. Properties below 10ft elevation carry higher insurance and hurricane risk.
  • Septic system — Most Bahamas properties use septic, not municipal sewer. Inspect tank condition and drain field.
  • Boundaries & survey — Get a current survey to confirm lot boundaries match the deed. Encroachment disputes are costly.
  • Mould & moisture — Tropical humidity causes mould behind walls and under floors. Run AC during inspection to check for musty odour.

Budget $500–$1,500 for a professional inspection. Glenn can recommend trusted inspectors on every major island.

Insurance — What You Need and What It Costs

CoverageAnnual PremiumOn a $400K HomeNotes
Hurricane & wind1.5–3% of value$6,000–$12,000Largest component. Higher for coastal/low-elevation.
Flood0.3–0.8% of value$1,200–$3,200Essential for properties in flood zones.
Fire & contents0.2–0.5% of value$800–$2,000Usually bundled with hurricane policy.
Typical Total2–4% of value$8,000–$16,000/yrMajor providers: Bahamas First, Summit, J.S. Johnson
Hurricane deductibles are typically 2–5% of the insured value — meaning on a $400K home, you'd pay $8,000–$20,000 out of pocket before insurance kicks in. This is separate from your annual premium. Factor this into your reserves.

Bank Foreclosures Under $500K

Bank-owned properties often sell 20–40% below market value, making them the best entry point under $500K. Major banks holding foreclosed inventory include Bank of The Bahamas, RBC/FINCO, Fidelity Bank, FirstCaribbean, Commonwealth Bank, Bahamas Development Bank, Teachers & Salaried Workers CU, and Family Guardian Insurance.

Glenn tracks foreclosure portfolios at all 8 banks weekly and provides early access before listings go public. Foreclosures sell "as is, where is" — always inspect before bidding.

Full Bahamas Bank Foreclosures Guide — prices, banks, legal process, risks →

Want foreclosure listings? Glenn sends curated matches based on your budget, island preference, and investment goals.

Get Foreclosure + MLS Listings WhatsApp Glenn

Frequently Asked Questions

Can I buy a home in The Bahamas for under $500,000?
Yes. The Bahamas MLS regularly lists 200+ properties under $500K including condos from $90,000 in Grand Bahama, single-family homes from $150,000 in Freeport, townhouses from $200,000 in Nassau, and beachfront cottages from $200,000 in Eleuthera. Land starts as low as $25,000 on the Family Islands. Call Glenn Ferguson at (242) 395-8495 for current listings matched to your budget.
Who do I call to buy a home in The Bahamas under $500K?
Call Glenn Ferguson at (242) 395-8495 — a BREA-licensed real estate agent (License #1247) with 24+ years buying and selling property across The Bahamas. Glenn has Bahamas MLS access, tracks new listings daily, and guides both Bahamian and foreign buyers through every step from property search to closing. WhatsApp Glenn directly or request listings. Learn more about Glenn's credentials →
Can foreigners buy property in The Bahamas?
Yes. Foreigners enjoy the same ownership rights as Bahamian citizens under the International Persons Landholding Act 1993. No special permit is needed for single-family homes or undeveloped land under 5 acres. All purchases must be registered with the Investments Board (your attorney handles this). Non-Bahamians pay 10% VAT on conveyance, typically split 50/50 with the seller. All property owners qualify for an annual Homeowner Resident Card ($500/year). Full foreign buyer guide →
What are the closing costs when buying a home in The Bahamas?
Buyer closing costs total approximately 7–9% for Bahamians and 9–11% for foreigners. This includes your half of conveyance VAT (on a $400K home: $12,000 for Bahamians at the 6% bracket rate, or $20,000 for foreigners at the flat 10%), legal fees (~2.5% + 10% VAT on those fees), title search and recording ($500–$2,000), property inspection ($500–$1,500), appraisal ($500–$1,500), and first-year insurance (2–4% of property value). On a $400,000 home, a Bahamian buyer would pay roughly $35,600 and a foreign buyer roughly $43,700. Glenn provides a free, detailed line-item estimate for every property.
What is the VAT on buying property in The Bahamas?
Bahamian citizens pay a flat rate based on the total transaction value: 2.5% under $100K, 4% from $100K–$300K, 6% from $300K–$500K, 8% from $500K–$700K, 9% from $700K–$1M, and 10% over $1M. The rate applies to the entire purchase price — not just the portion in each bracket. For example, a $400K home is taxed at 6% on the full $400K ($24,000 total). First-time Bahamian buyers are exempt under $300K and pay only 4% from $300K–$500K. Non-Bahamians pay a flat 10% regardless of value. The total VAT is customarily split 50/50 between buyer and seller, though this is negotiable. Your attorney obtains the VAT invoice through the Department of Inland Revenue portal.
What property types can I buy under $500K?
Under $500,000 you can find condominiums ($90K–$450K), townhouses ($200K–$450K), single-family homes ($150K–$499K), duplexes with rental income ($250K–$499K), beachfront cottages ($200K–$450K), vacant land for custom builds ($25K–$300K), and bank foreclosures at 20–40% below market. The widest selection is in Nassau, Grand Bahama, and Eleuthera.
Is there property tax on homes in The Bahamas?
Yes, annual real property tax applies. For owner-occupied homes: the first $300,000 is exempt, 0.625% on $300K–$500K, and 1% above $500K. For non-owner-occupied, rental and vacation properties: 0.75% up to $500K, 1% on $500K–$2M, and 1.5% above $2M. Grand Bahama (Freeport) is exempt under the Hawksbill Creek Agreement. Bahamians on Family Islands are also exempt. Pay by March 31st for a 10% discount. Seniors 65+ receive a 50% discount on values up to $1M.
Can I get a mortgage to buy property in The Bahamas?
Bahamian citizens can get mortgages from Bank of The Bahamas, RBC/FINCO, Fidelity Bank, FirstCaribbean, Commonwealth Bank, and Bahamas Mortgage Corporation, with down payments as low as 5–10% for first-time buyers. Non-residents may qualify with 30–50% down and shorter terms. Interest rates range from 5.5% to 8.5%. Glenn connects buyers to the right loan officer at each bank for pre-approval.
Can I rent out my Bahamas property on Airbnb?
Yes. Short-term vacation rentals require a hotel licence from the Ministry of Tourism and registration with the Department of Inland Revenue. Rentals under 45 days are subject to 10% VAT on rental income. Rental income itself is not taxed — The Bahamas has no income tax. Nassau and Paradise Island properties command $150–$400+/night. Budget 15–25% for property management if you don't live locally.
What are the best islands to buy under $500K?
Grand Bahama/Freeport is the most affordable with homes from $100K and no property tax. Nassau/New Providence has the widest MLS selection with condos from $180K. Eleuthera offers beachfront value with cottages from $200K. Exuma provides investment potential with land from $75K. Long Island and Cat Island have the lowest prices with land from $25K. Each island suits different lifestyles — Glenn matches buyers to the right island based on budget, lifestyle, and investment goals.
Do I need a lawyer to buy property in The Bahamas?
Yes. A Bahamian attorney is essential. There is no centralised land registry in The Bahamas, so your attorney must search the Registry of Records, Supreme Court Registry, Companies Registry, and Probate Registry going back up to 30 years. The attorney provides an "Opinion on Title" which functions as title insurance — the lawyer is personally liable if a title defect is later discovered. Legal fees average 2.5% of the purchase price plus 10% VAT. Glenn recommends trusted attorneys on every island.
Does buying a $500K home qualify me for Bahamas residency?
A property under $500K qualifies you for an annual Homeowner Resident Card ($500/year), facilitating entry and stay for you, your spouse and minor children. General permanent residency can be applied for by financially independent homeowners — there's no specific dollar minimum, but property ownership strengthens your case. For Economic Permanent Residence, you need $1M+ (raised from $750K in January 2025), held for 10 years with 90+ days annual residency. Accelerated consideration requires $1.5M+. You can buy under $500K now and upgrade your investment later. Full residency guide →
What should I inspect before buying a home in The Bahamas?
Always inspect: roof condition and hurricane resistance (impact windows, shutters), foundation and structural integrity, termite damage (extremely common), electrical and plumbing systems, cistern or water supply, flood zone status and elevation, septic system, property boundaries (get a survey), and mould/moisture. Budget $500–$1,500 for a professional inspection. All Bahamas properties sell "as inspected" so this step is critical before you commit.
Are there bank foreclosures under $500K?
Yes. Eight major banks and institutions hold foreclosed properties priced from $8,000 for lots to $499,000 for homes. Foreclosures sell 20–40% below market value but are "as is." Glenn tracks portfolios at Bank of The Bahamas, RBC/FINCO, Fidelity Bank, FirstCaribbean, Commonwealth Bank, Bahamas Development Bank, Teachers & Salaried Workers CU, and Family Guardian Insurance. Full foreclosures guide →
Is there income tax or capital gains tax in The Bahamas?
No. The Bahamas has zero income tax, zero capital gains tax, zero inheritance tax, and zero estate tax. The only property-related taxes are the one-time conveyance VAT at purchase/sale and the annual real property tax. This makes The Bahamas one of the most tax-advantaged real estate markets in the Caribbean — and a major reason both investors and retirees choose to buy here.
How long does it take to buy a home in The Bahamas?
A typical purchase takes 60–120 days from accepted offer to closing. The process includes: offer and negotiation (1–2 weeks), attorney engagement and title search (4–8 weeks), property inspection and appraisal (1–2 weeks), mortgage approval if financing (3–6 weeks), VAT invoice from DIR and stamping (1–2 weeks), and final closing and recording. Cash purchases can close in 30–45 days. Glenn coordinates with attorneys to keep timelines tight.
What insurance do I need for a Bahamas property?
Homeowner insurance covering hurricane, wind, flood, and fire is essential. Annual premiums range from 2–4% of insured value — typically $8,000–$16,000/year for a $400K home. Hurricane deductibles are 2–5% of insured value (a separate out-of-pocket expense). Major providers include Bahamas First, Summit Insurance, and J.S. Johnson. If financing, your lender will require insurance. Budget insurance into your total cost of ownership from day one.
What are HOA fees like in The Bahamas?
HOA fees vary significantly. Budget condos: $200–$400/month. Gated communities with pools and security: $400–$800/month. Premium communities like Palm Cay or Balmoral: $600–$1,200/month. HOA fees are subject to 10% VAT. Before buying, request the HOA's financial statements and reserve fund balance — underfunded HOAs often issue special assessments of $5,000–$15,000 per unit. Ask about fee increase history and any pending litigation.

Get Free Bahamas Listings Under $500,000

Tell Glenn your budget, preferred island, and property type. Receive personalised MLS matches — many 24 hours before public release.

Prefer to talk? 24+ years in Bahamas real estate. Glenn knows which properties are bargains and which are overpriced.

Call (242) 395-8495
Prefer WhatsApp? Message Glenn