Buying a house in SXM?

Many here spend weeks in sxm it seems and a lot of you enjoy BSV, Boon, etc.

Anyone actually own a home there? Any expats there year round living here? Would love to connect and perhaps get ideas.

I meet a lot of expats from various countries at the SMYC (Sint Maarten Yacht Club)

Bill and Elaine here are year round owners at Rainbow. wendy also spends about six months there.

I'm a full-timer now, we're moving off our boat on June 1. We are beginning by renting at Simpson Bay Yacht Club, we may purchase something down the road once we're sure where we want to live.

Ritchard--that's smart, to rent first. My brother in law wants to move from the states to St. Croix. We are trying very hard to encourage him to rent first, but he thinks we're all wet.

Living on an island in the Caribbean is far different then visiting there on vacation (this comes from someone who lived in the Caribbean for 18 years). The vast majority of Ex-pats who've done it will tell you it is wise to rent first before buying. Some people adapt easily and thrive while others quickly realize island life is not for them. This is especially true for couple - often one enjoys the lifestyle while their partner has the opposite view.

There are a number of websites that focus on relocating to the Caribbean, one in particular - VImovingCenter.com - contains information on every imaginable topic regarding island life. There's even a forum with 10,000's of post on every subject and will answer all your questions and hundreds more you haven't even thought about yet. Don't worry that it's geared to the US Virgin Islands, much of what is written there applies throughout the Caribbean. Read through some of the old posts, as the general information is still relevant - they only difference between when they were written and now is that "cost estimates" are much higher now.

Fletch--thanks for that link. I will send it to my brother in law. He may have seen it already, but I am concerned about him making a decision based on his heart and not his head.

We've been here most of the time for 5 years now, but even still, I feel that land life is going to differ so much form sea life that I am going to have to get to know the place in a whole new way. I think your brother is making an error.

Many years ago we very seriously contemplated buying a home on SXM, and this after visiting at least annually for about fifteen years.
I’m a ‘what iffer’ so we really had a lot of points to ponder. Missing family at home and the convenience of getting back and forth for visits, never mind for emergencies that might arise; the worry factor about the property and how it was holding up through storms and other island perils; and so many other things.
We finally made the ultimate decision not to buy there and for us it was the right choice. But that’s not to say it would be the right choice for others.
In the meantime, our daughter and son in law did purchase a lovely condo there and I have to say, other than their ages being such they can’t get away to enjoy it as much as they’d like to at this time in their lives, there is definitely something to be said for boarding the plane to SXM with passport and purse in hand and little else to think about.
Good luck, whatever you decide to do.

If you are talking about finically a good idea. I remember seeing properties on the French side 15 year ago selling for $350,000 or so now selling for well over a million dollars. Simpson Bay 20 years ago their is a group of 4 or 6 condos on the beach that you could have gotten for about $50,000 to $75,000 each. Now at least $450,000. Palm Beach and CoCos both great investments. CoCo had garden units from $300,000 , I thought they were crazy back then,,,,,,,,and now I seen beachfronts 2 bedrooms pushing a Million dollars to buy. The prices of California or Florida waterfront is sky high prices , ,million and millions for a small condo or townhouse. SXM is very very well priced, I would say its even a bargain compared to USA its the Caribbean ! Not to mention huge property taxes in the USA ....French side taxes very reasonable and Dutch side NO Property tax! We have friends that bought in 2002 , pretty sure their villa is worth 5 time more now plus they have good cash flow from vacation rentals. Put it in Real Estate. Lots of things can tank very quickly. Banks, Stock Market, etc. Property is normally a little more stable and some people just not cut our for what they think is a hassle or risky. Obviously lots of options on this! IMO.

I highly advise renting for 6 - 12 months first. See if you can put up with the "inconveniences". If you find a property, do a ton of homework as there are plenty scammers around. If it's investment for rentals, get a really good property manager. If you plan to reside, do you have good health insurance?

Been here 15 years today.

Thanks for all the perspectives.

And a huge bon anmiversaire on your 15th! What a well timed post.

We're kicking around the idea as an investment, with a property manager in mind. So you are there full time, no more US residence?

Bill and Elaine--happy anniversary!

Yes, full time. The only things we have in the US are our family and a bank account.

Thanks Carol

We owned and lived there. Almost 10 years. Florida is the same. Speak Carol!
Moving back to city. Near Kim!
We did make money on the unit. Lots!
Cheers

Can’t say I disagree. We’re looking for a 2nd home, possibly sxm. Just had a colleague share with me a huge property in Terre Basse, too large at 3+ acres but someone will cashflow it well! Looking for places to park capital!

Definitely agree with Richard about renting first.
We lived on SXM for six months once.
Island Fever sets in pretty quickly, no matter how much you love the island.
Everything becomes a huge struggle: electricity, food costs, driving, etc. etc.
Visiting the island, rather than living there is so much better!
But that's just us, ha ha!