Invest now in real estate and retire later
Nov 30th 2007, 7:30 pm
#1
Just Joined
Thread Starter
Joined: Nov 2007
Posts: 3
Invest now in real estate and retire later
Hi
First at all I want to congratulate all of you for the excellent info you have in this forum.
I am looking to buy a condo/apartment there as investment for now ( plan to spend there 4-5 months a year but not now as I still need to work, btw I am in Canada).
I am looking then for a property I can rent easily and that needs to cover the property expenses..
An apartment w/o fee it looks for me more suitable for long term rent but not for short rents.
A condo with condo fees can do it better for short terms rental ( weekly).
What area it will be the best to buy it?
Can you please tell me some of the good Real Estate agencies down there?
Thank you very much,
Vergica
First at all I want to congratulate all of you for the excellent info you have in this forum.
I am looking to buy a condo/apartment there as investment for now ( plan to spend there 4-5 months a year but not now as I still need to work, btw I am in Canada).
I am looking then for a property I can rent easily and that needs to cover the property expenses..
An apartment w/o fee it looks for me more suitable for long term rent but not for short rents.
A condo with condo fees can do it better for short terms rental ( weekly).
What area it will be the best to buy it?
Can you please tell me some of the good Real Estate agencies down there?
Thank you very much,
Vergica
Dec 15th 2007, 2:11 pm
#2
Just Joined
Joined: Jul 2007
Posts: 13
Re: Invest now in real estate and retire later
Hi
First at all I want to congratulate all of you for the excellent info you have in this forum.
I am looking to buy a condo/apartment there as investment for now ( plan to spend there 4-5 months a year but not now as I still need to work, btw I am in Canada).
I am looking then for a property I can rent easily and that needs to cover the property expenses..
An apartment w/o fee it looks for me more suitable for long term rent but not for short rents.
A condo with condo fees can do it better for short terms rental ( weekly).
What area it will be the best to buy it?
Can you please tell me some of the good Real Estate agencies down there?
Thank you very much,
Vergica
First at all I want to congratulate all of you for the excellent info you have in this forum.
I am looking to buy a condo/apartment there as investment for now ( plan to spend there 4-5 months a year but not now as I still need to work, btw I am in Canada).
I am looking then for a property I can rent easily and that needs to cover the property expenses..
An apartment w/o fee it looks for me more suitable for long term rent but not for short rents.
A condo with condo fees can do it better for short terms rental ( weekly).
What area it will be the best to buy it?
Can you please tell me some of the good Real Estate agencies down there?
Thank you very much,
Vergica
Lynn
Dec 18th 2007, 6:27 pm
#3
Forum Regular
Joined: Feb 2007
Posts: 157
Re: Invest now in real estate and retire later
Hi Vergica:
Depends how much you want to spend.
You could get a one bedroom apartment in Rockley for US$225000. Monthly fees are US$230 per month to cover gardens, pools, security, water. These units rent very easily at US$1250 per month.
On the west coast, you could pick up something for US$500,000 for a two bedroom and up.
Long term rental is less hassle. You will pay one month's commission. Short term rentals take 20% commission, plus you will have other expenses like maid service, utilities etc.
Let me know if you need more info.
John
Depends how much you want to spend.
You could get a one bedroom apartment in Rockley for US$225000. Monthly fees are US$230 per month to cover gardens, pools, security, water. These units rent very easily at US$1250 per month.
On the west coast, you could pick up something for US$500,000 for a two bedroom and up.
Long term rental is less hassle. You will pay one month's commission. Short term rentals take 20% commission, plus you will have other expenses like maid service, utilities etc.
Let me know if you need more info.
John
Jan 6th 2008, 6:21 pm
#4
Just Joined
Joined: Sep 2006
Posts: 5
Re: Invest now in real estate and retire later
If you're interested in the SE of the island (St Philip), Atlantic Rising still has a few villa's available (3 bed) with pool. Not sure what they're selling for as the prices have increased gradually over the last 12 months. Easily rented with good income. I bought one last Dec and so far it's proved a great investment 
Good luck with your search.
Good luck with your search.
Feb 1st 2008, 11:59 pm
#5
Just Joined
Thread Starter
Joined: Nov 2007
Posts: 3
Re: Invest now in real estate and retire later
Hi all,
The site is great with the info provided. In mean time I got a bit scared about the prices there and I do really need to come down there this year in a non inclusive trip to see what that is about...one week only... unfortunatelly...
As I plan to spend more time there only in 10 years from now ( 4-6 months after retiremment) I am looking at this as an investment as well..for now to cover all the maintenances fees by renting..etc
You know in one way I need to play where the "ball" will be in 10 years from now ( after to retire) , it will be still Barbados the place?
I am thinking of global warming, water resources, cost of living, social issues..etc
All I am saying doesn't make sense for rich people who will stay there regardless of the cost or they will move if they wouldn't like the rest..
For people
The other way will be for me to have a kind of job remotely over Internet ( which looks for me another issue on the Island regarding the high speed) as I imagine how to difficult is to get a job down there...
Best regards, Vergica, Toronto, Canada
The site is great with the info provided. In mean time I got a bit scared about the prices there and I do really need to come down there this year in a non inclusive trip to see what that is about...one week only... unfortunatelly...
As I plan to spend more time there only in 10 years from now ( 4-6 months after retiremment) I am looking at this as an investment as well..for now to cover all the maintenances fees by renting..etc
You know in one way I need to play where the "ball" will be in 10 years from now ( after to retire) , it will be still Barbados the place?
I am thinking of global warming, water resources, cost of living, social issues..etc
All I am saying doesn't make sense for rich people who will stay there regardless of the cost or they will move if they wouldn't like the rest..
For people
The other way will be for me to have a kind of job remotely over Internet ( which looks for me another issue on the Island regarding the high speed) as I imagine how to difficult is to get a job down there...
Best regards, Vergica, Toronto, Canada
Feb 6th 2008, 12:58 pm
#6
Forum Regular
Joined: Feb 2007
Posts: 157
Re: Invest now in real estate and retire later
Hi Vergica:
For 20 years people have been predicting that house prices in Barbados cannot keep going up, but they do, and people have also been predicting that the building boom will not continue, but it has. I think the times of huge annual increases in asset value are over, but you could still double the value of your investment over the next 7-10 years, and that is not taking into account return from rental income.
Feel free to write with any other questions.
John
PS I lived in Caledon / Port Credit for 5 years but came back home as I did not like the cold.
For 20 years people have been predicting that house prices in Barbados cannot keep going up, but they do, and people have also been predicting that the building boom will not continue, but it has. I think the times of huge annual increases in asset value are over, but you could still double the value of your investment over the next 7-10 years, and that is not taking into account return from rental income.
Feel free to write with any other questions.
John
PS I lived in Caledon / Port Credit for 5 years but came back home as I did not like the cold.
