Owning a second home in SXM

I have been through two horrible hurricanes in SXM that destroyed our vacation home twice. I repaired the villa both times and was able to return to the island quickly. This virus was something I never could have imagined in a million years. I never thought a virus plandemic could not only shut down travel to SXM but the whole new world. I really don't know when I will be able to return to my second home and if this runs into 2021 honestly I might rethink second home ownership.

I’m right there with you! We bought our oceanfront condo 2 1/2 months before Irma hit. But we could deal with that. The pandemic is something we never thought we would have to worry about. Also seriously rethinking ownership. Even at a loss it may be worth getting out of because who knows how often the island could possibly just “close”.

Yes very tough time now , different after Irma.

...and I was thinking of buying a second condo as an investment. Now I'm thinking of selling the one I already have.

Don't really blame you. Tough times..

Yes different than Irma as the impact Is not physical damage but economic. You can’t live at the mountaintop forever , to me this is just a little valley time and this will pass and things will obviously improve in time just like always. Would love to take advantage of any of that gloom and doom panic selling of homes. Been going to the island for 25 years. Look around, No bargain Paradise for sale and a gem will always be a gem. SXM sure seems to hold its value over time. It’s a circle. One person gets feed up or the sky is falling and moves on and 3 more discovers sxm and loves it.

Respectfully, I don't really think there were too many people on SXM who were on a 'mountaintop' before the virus. They were just beginning to turn around after Irma. The virus is different, very different, as it affects the whole world.

Everyone was looking to take advantage of low prices after Irma too. Didn't happen.

I think the emotional and economic fatigue with both events being so close together will have a real impact. Note also this has a significant economic impact on the US and the world, this reduces play money. We will see, we hope for the best for the island and we are hopeful that we will be able to return in November.
T

We hope you can too! Miss you all xx

Yes that's true , I remember that period. We just got our Mortgage reshaped money wise . God is good.

I never said I would sell but maybe rent till this blows over...

Well certainly even after Irma most people mountaintop was better 5 months ago vs today on SXM and worldwide. It’s all individually or relevantly speaking and not about bank accounts, more about jobs and being able to feed families. Certainly Jeff Bezos mountaintop is much different than all of ours. Point is peaks and valleys, nothing more. As to the post Real Estate is the same. IMO

Living in Paradise was our dream but it ain't going to happen... Plan A was to spend Jan -March in SXM, plan B hopefully we can find someone on the island to rent it long term.