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Re: Buying a house in SXM?
[Re: the captain]
#300255
04/22/2023 09:51 AM
04/22/2023 09:51 AM
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Joined: Aug 2000
Posts: 83,601 Central Florida!
Carol_Hill
Traveler
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Traveler
Joined: Aug 2000
Posts: 83,601
Central Florida!
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Bill and Elaine here are year round owners at Rainbow. wendy also spends about six months there.
Carol Hill
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Re: Buying a house in SXM?
[Re: the captain]
#300318
04/23/2023 09:01 AM
04/23/2023 09:01 AM
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Joined: Jan 2008
Posts: 520 Eastern Caribbean
Ritchard
Traveler
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Traveler
Joined: Jan 2008
Posts: 520
Eastern Caribbean
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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.
_______________________
Working hard to be the best yacht bum I can be.
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Re: Buying a house in SXM?
[Re: Ritchard]
#300319
04/23/2023 09:03 AM
04/23/2023 09:03 AM
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Joined: Aug 2000
Posts: 83,601 Central Florida!
Carol_Hill
Traveler
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Traveler
Joined: Aug 2000
Posts: 83,601
Central Florida!
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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.
Carol Hill
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Re: Buying a house in SXM?
[Re: Fletch]
#300326
04/23/2023 09:41 AM
04/23/2023 09:41 AM
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Joined: Aug 2000
Posts: 83,601 Central Florida!
Carol_Hill
Traveler
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Traveler
Joined: Aug 2000
Posts: 83,601
Central Florida!
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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.
Carol Hill
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Re: Buying a house in SXM?
[Re: Carol_Hill]
#300352
04/23/2023 12:41 PM
04/23/2023 12:41 PM
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Joined: Jan 2008
Posts: 520 Eastern Caribbean
Ritchard
Traveler
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Traveler
Joined: Jan 2008
Posts: 520
Eastern Caribbean
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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. 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.
_______________________
Working hard to be the best yacht bum I can be.
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Re: Buying a house in SXM?
[Re: the captain]
#300353
04/23/2023 12:55 PM
04/23/2023 12:55 PM
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Joined: Apr 2001
Posts: 14,677 Brookfield, CT.
pat
Traveler
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Traveler
Joined: Apr 2001
Posts: 14,677
Brookfield, CT.
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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.
Respectfully,
pat
"Always keep your words soft and sweet, just in case you have to eat them."
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Re: Buying a house in SXM?
[Re: the captain]
#300358
04/23/2023 01:20 PM
04/23/2023 01:20 PM
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Joined: Aug 2012
Posts: 666
foreversxm
Traveler
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Traveler
Joined: Aug 2012
Posts: 666
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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.
Last edited by foreversxm; 04/23/2023 01:24 PM.
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Re: Buying a house in SXM?
[Re: the captain]
#300402
04/24/2023 10:12 AM
04/24/2023 10:12 AM
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Joined: Sep 2003
Posts: 18,592 St Maarten
BillandElaine
Traveler
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Traveler
Joined: Sep 2003
Posts: 18,592
St Maarten
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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.
Last edited by BillandElaine; 04/24/2023 10:12 AM.
Elaine ********************************* God Bless the broken road....
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Re: Buying a house in SXM?
[Re: the captain]
#300447
04/25/2023 10:13 AM
04/25/2023 10:13 AM
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Joined: Sep 2003
Posts: 18,592 St Maarten
BillandElaine
Traveler
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Traveler
Joined: Sep 2003
Posts: 18,592
St Maarten
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Yes, full time. The only things we have in the US are our family and a bank account.
Elaine ********************************* God Bless the broken road....
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Re: Buying a house in SXM?
[Re: foreversxm]
#300816
05/04/2023 11:19 PM
05/04/2023 11:19 PM
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Joined: Nov 2015
Posts: 412 the Long Island
the captain
OP
Traveler
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OP
Traveler
Joined: Nov 2015
Posts: 412
the Long Island
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If you are talking about finically a good idea…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. 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!
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Re: Buying a house in SXM?
[Re: Ritchard]
#300949
05/07/2023 03:52 PM
05/07/2023 03:52 PM
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Joined: Mar 2001
Posts: 1,296 Colorado and Sailing the World
Maria_and_Steve
Traveler
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Traveler
Joined: Mar 2001
Posts: 1,296
Colorado and Sailing the World
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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!
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