Why We Chose Anguilla to Buy?
They offer the best value for the cosmopolitan lifestyle you can find in the best parts of every city, especially so for New Yorkers.
| Island | Lifestyle Benefits | Avg Home Cost | Avg Monthly Mortgage | Avg Nightly Rental Price | Estimated Monthly Rental Income (Peak) | Process Duration |
|---|---|---|---|---|---|---|
| BVI | Stunning beaches, sailing, diverse wildlife, fine dining | $1,000,000 | $4,800 | $500 | $15,000 | 3-6 months |
| Anguilla | Beautiful beaches, laid-back lifestyle, upscale dining | $1,500,000 | $7,200 | $750 | $22,500 | 3-6 months |
| St. Barths | Upscale living, gourmet dining, luxury shopping | $3,000,000 | $14,400 | $1,500 | $45,000 | 4-6 months |
| Turks & Caicos | Luxury resorts, beautiful beaches, excellent snorkeling/diving | $1,200,000 | $5,760 | $600 | $18,000 | 2-4 months |
Note:
- Average Home Cost: This is the median price for a 2-3 bedroom property in a popular area.
- Average Monthly Mortgage: This is based on a 30-year fixed-rate mortgage with a 20% down payment and a 4.5% interest rate.
- Average Nightly Rental Price: This is based on Airbnb and other travel website listings for similar properties.
- Estimated Monthly Rental Income (Peak): This is estimated assuming a 30-day occupancy during peak season. Lower occupancy should be expected off-peak.
- Process Duration: The average time it takes from agreement to possession can vary greatly depending on a variety of factors.
Remember, there are additional costs to consider, such as closing costs (typically 2-5% of the purchase price), ongoing costs (property taxes, insurance, maintenance), and property management fees if you choose to rent.
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To leverage your existing home for this purchase, consider options like a home equity line of credit or a second mortgage. The interest rates for these typically range between 3-6%.
These islands offer a mix of natural beauty, luxurious amenities, Fine Dining, and an overall cosmopolitan lifestyle that’s akin to living in a city like New York. However, each has its unique charm, so you may want to visit each island to see which one resonates with you the most before making a decision.
Best Region to Purchase a Vacation Rental in Anguilla
Although it’s a relatively small island, it offers a variety of experiences depending on where you choose to live. Here are some key points about different areas of the island:
| Region | Lifestyle Benefits | Proximity to Fine Dining | Home Prices | Property Examples | Unique Features |
|---|---|---|---|---|---|
| The Valley | Central location, convenient access to the island’s amenities | High, with numerous restaurants in the area | $1,200,000-$3,000,000 | Luxury condos, villas, and private homes | Close to art galleries and cultural centers |
| West End | Close to luxury resorts, golf course, and beautiful beaches | Moderate, with several high-end dining options nearby | $1,500,000-$4,000,000 | Luxurious beachfront villines and private estates | Near to the Anguilla Tennis Academy and golf course |
| Sandy Ground | Vibrant nightlife, beach bars, and live music | Moderate, with a few notable restaurants nearby | $900,000-$2,500,000 | Beachfront homes and condos | Famous for its annual Summer Festival |
| East End | Quiet, private, and less developed, close to nature | Lower, a few local eateries, but many options are a short drive away | $800,000-$2,000,000 | Private villas and smaller homes | Close to the Heritage Collection Museum |
| Island Harbour | Known for its fishing and boating community | Lower, a few local seafood restaurants nearby | $700,000-$1,800,000 | Smaller villas and cottages | Home to the annual Festival Del Mar |
Notes:
- Lifestyle Benefits: Describes the overall vibe and lifestyle of the region.
- Proximity to Fine Dining: This is based on the number of fine dining restaurants within a short distance.
- Home Prices: This is the range of home prices for a luxury 2-3 bedroom property in the area.
- Property Examples: The types of properties typically found in this region.
- Unique Features: Each region has unique features that may be appealing to different types of homeowners.
As always, it’s recommended to visit the island and spend some time in each region before deciding where to buy. Each region of Anguilla offers its own unique charm, so it’s important to choose the one that fits your lifestyle and preferences the best.
Similar Islands to Anguilla to Consider for Vacation Homes
Here’s a generalized comparison of potential Caribbean islands for purchasing a second home, focusing on costs and returns as well as travel and lifestyle benefits. Do note that actual costs and returns can vary significantly, so it’s crucial to conduct thorough research or work with a real estate professional for precise estimates and advice. These figures are estimated based on average data available and may not reflect the most current or specific circumstances.
| Island | Lifestyle Benefits | Avg Home Cost | Avg Monthly Mortgage | Avg Rental Price Per Night | Estimated Monthly Rental Income (Peak) | Process Duration |
|---|---|---|---|---|---|---|
| Bahamas | Proximity to U.S., English-speaking, wide range of activities | $500,000 | $2,400 | $200 | $6,000 | 2-3 months |
| Puerto Rico | U.S. territory, diverse landscapes, easy travel | $250,000 | $1,200 | $150 | $4,500 | 1-2 months |
| St. Lucia | Beautiful beaches, nature attractions | $400,000 | $1,920 | $180 | $5,400 | 3-6 months |
| Jamaica | Rich culture, beautiful beaches, many tourist attractions | $300,000 | $1,440 | $160 | $4,800 | 2-3 months |
| Dominican Republic | Affordable properties, diverse landscapes, great climate | $200,000 | $960 | $130 | $3,900 | 1-2 months |
Note:
- Average Home Cost: Approximate median price for a 2-bedroom property in a desirable area.
- Average Monthly Mortgage: Based on a 30-year fixed-rate mortgage with a 20% down payment and an interest rate of around 4.5%.
- Average Rental Price Per Night: Estimated based on Airbnb and other travel website listings for a similar property.
- Estimated Monthly Rental Income (Peak): Estimated assuming a high occupancy rate of 30 days in peak season. Off-peak season would likely be lower.
Additional costs include closing costs (typically 2-5% of the home price), ongoing costs such as property taxes, insurance, and maintenance, and property management fees if you’re renting it out.
Using your existing home to leverage this purchase would likely involve a home equity line of credit or second mortgage, with interest rates typically ranging from 3-6%. The exact rate would depend on various factors including your credit score and the amount of equity in your home.
Finally, the process duration varies based on factors such as the speed of legal processes and whether any issues arise during inspection or negotiation.
Best Value to Invest Into Vacation Home Real Estate in the Caribbean
There are other island locations around the world that offer a similar vibe to Anguilla. Here’s a comparative look at a few of them:
| Island | Location | Lifestyle Benefits | Avg Home Cost | Avg Monthly Mortgage | Avg Nightly Rental Price | Estimated Monthly Rental Income (Peak) | Process Duration |
|---|---|---|---|---|---|---|---|
| Anguilla | Caribbean | Beautiful beaches, laid-back lifestyle, upscale dining | $1,500,000 | $7,200 | $750 | $22,500 | 3-6 months |
| The Seychelles | Indian Ocean | Spectacular beaches, diverse wildlife, fine dining | $800,000 | $3,840 | $400 | $12,000 | 3-4 months |
| Mauritius | Indian Ocean | Multicultural experience, beautiful beaches, luxury living | $900,000 | $4,320 | $450 | $13,500 | 3-4 months |
| Bora Bora | Pacific Ocean | Luxury resorts, stunning lagoons, great diving | $1,300,000 | $6,240 | $650 | $19,500 | 4-6 months |
| Maldives | Indian Ocean | Overwater bungalows, clear waters, exceptional snorkeling/diving | $1,000,000 | $4,800 | $500 | $15,000 | 4-6 months |
Note:
- Average Home Cost: This is the median price for a 2-3 bedroom property in a popular area.
- Average Monthly Mortgage: This is based on a 30-year fixed-rate mortgage with a 20% down payment and a 4.5% interest rate.
- Average Nightly Rental Price: This is based on Airbnb and other travel website listings for similar properties.
- Estimated Monthly Rental Income (Peak): This is estimated assuming a 30-day occupancy during peak season. Lower occupancy should be expected off-peak.
- Process Duration: The average time it takes from agreement to possession can vary greatly depending on a variety of factors.
These islands offer a mix of natural beauty, luxurious amenities, and fine dining that’s akin to living in Anguilla. However, each has its unique charm, so consider visiting each island to see which one resonates with you the most before making a decision.
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