What You Need to Know Before Buying a House in The Bahamas

Are you dreaming of owning a home in The Bahamas? It’s easy to see why. With crystal-clear waters, stunning beaches, and no shortage of luxury amenities, it’s a slice of paradise waiting to be yours. But before you take the plunge, there are a few things you need to know before buying a house in The Bahamas that will help to make your journey smooth and successful.

I’m Glenn Ferguson, a Luxury Bahamas Real Estate Agent and Residency Consultant. With over 20 years of experience, I’ve helped countless clients find their perfect home here. Here is what you need to know before buying a house in The Bahamas.

Can Foreigners Buy Property in The Bahamas?

Yes, foreigners can buy property in The Bahamas without restrictions. Foreign buyers enjoy the same rights as Bahamian citizens. Whether it’s a vacation home, rental property, or permanent residence, The Bahamas welcomes international investors.

The only exceptions are:

• Properties over two acres.
• Purchases intended for commercial or rental use.

For these, government approval is required.

👉 Learn more about Bahamas Real Estate Laws for Foreign Buyers.

Why Buy Property in The Bahamas?

1. Tax Benefits

The Bahamas is a tax-friendly haven, offering:

• No income tax.
• No capital gains tax.
• No inheritance tax.

These advantages make it an attractive destination for buyers worldwide.

2. Lifestyle Upgrade

Owning a home in The Bahamas means:

• Access to pristine beaches and water activities.
• World-class golf courses, fine dining, and shopping.
• A relaxed, laid-back way of life.

3. Proximity to Major Cities

The Bahamas is just a short flight from the United States:

• Miami: Less than 1 hour.
• New York: About 3 hours.

Steps to Buying a House in The Bahamas

1. Define Your Goals

Think about why you’re buying:

• Is this a vacation retreat?
• A rental property?
• A permanent residence?

Your goals will shape your search and budget.

2. Partner with a Bahamas Real Estate Agent

Working with a local agent is essential. I’ll help you navigate the market, find properties that meet your needs, and handle negotiations on your behalf.

👉 Ask Glenn about Buying Real Estate in The Bahamas.

3. Understand Property Options

The Bahamas offers a range of properties:

• Condos: Low-maintenance and perfect for vacationers.
• Beachfront Villas: Privacy and stunning views.
• Luxury Estates: Spacious and exclusive living spaces.

👉 Explore Luxury Bahamas Real Estate Listings.

4. Budget for Additional Costs

When buying property, it’s important to account for additional expenses like:

• Stamp Duty: 2.5%–10%, depending on the property’s value.
• Legal Fees: About 2.5% of the purchase price.
• Annual Property Tax: Properties over $250,000 are taxed at 0.625%–1%.
• VAT: Applies to transactions and services.

5. Conduct Due Diligence

A Bahamian attorney will help with:

• Verifying the property’s title.
• Reviewing contracts.
• Ensuring all legal requirements are met.

6. Finalise the Purchase

Once the due diligence is complete, you’ll settle taxes, fees, and sign the final documents to close the deal.

Your Questions About Buying a House in The Bahamas

1. Can foreigners own beachfront property?

• Yes, foreigners can own beachfront property in The Bahamas with no restrictions.

2. Is financing available for foreign buyers?

• Yes, local banks and international lenders offer financing options. However, buyers may need to meet certain requirements.

3. Can I rent out my property?

• Yes, short-term vacation rentals are highly popular and can generate a steady income stream.

4. Does owning property qualify me for residency?

• Yes, properties valued at $750,000.00 or more can qualify you for permanent residency.

👉 Learn more about Bahamas Residency Requirements.

Benefits of Working with Glenn Ferguson

With decades of experience in Bahamas real estate, I offer the following:

• Personalised advice tailored to your needs.
• Expert guidance through every step of the process.
• Access to exclusive listings and market insights.

Let’s find your perfect home in paradise.

Let’s Get Started

Buying a house in The Bahamas is an exciting journey, and I’m here to help every step of the way. Whether it’s finding the right property or navigating the buying process, you’ll have the guidance you need to make your dream a reality.

👉 Ask Glenn about buying real estate in The Bahamas.

Glenn's Helpful Links 

1. Luxury Real Estate in The Bahamas
2. Residency Options in The Bahamas
3. Nassau Bahamas Homes for Sale