There are no shortage of places to buy a vacation property in the sun, however a lot of thought needs to go into where you are buying. Some of the major factors include, language, political stability, cost, safety and obviously whether it is a good time to buy in that market. Here are just a few of the benefits of buying your vacation property in the Bahamas.
There is not a lot of red tape for foreigners buying real estate in The Bahamas. This is not the case in all Caribbean countries. When you purchase a property in The Bahamas, you can apply for a residency card for you and your family allowing you to live in the country (not work, just live).
The currency in The Bahamas is the Bahamian dollar, however it is pegged at 1:1 with the US dollar.
There are times when you may only have a few days available to use your property, so you don’t want to be travelling for a whole day to get there. Nassua is only 186 miles from Miami, making it an easy location for most residents of the US and Canada. There are several airlines and flights daily from a number of major hubs in North America.
Something else worth considering along with the close proximity, is the number of flights making it a reasonable airfare. Depending on your situation, this may make the property more usable, which is obviously the point.
When English is widely spoken, life is just easier. If you have never spent a lot of time in a non English speaking country, you may not realize how hard simple everyday routines can be. The Bahamas was a British territory until 1973 when it gained its independence.
The Bahamas also has a very ‘comfortable and familiar’ feel to it, Americanized. This gives visitors a comfort that they do not always get in some Caribbean destinations. Living in the Bahamas is easy!
For a lot of buyers, without financing there is no possibility of buying that vacation property. We can offer both jumbo mortgages and private mortgage financing in The Bahamas. Because this is a mature market that is stable, lenders are more comfortable lending in The Bahamas. We facilitate loans primarily in Nassua and Bimini, although we do look at other locations as well depending on the deal.
Talk to us today about all of our financing options in The Bahamas. We want to help you make your dream home in the sun a reality!