Retiring In The Bahamas: Can You Afford Your Own Island?
No man is an island, unless he buys his own island and lives there. More and more people are looking at purchasing their own islands after they retire, preferring the quiet and mostly peaceful life of living apart from big cities and lots of traffic and noise. If that is your goal, and you are looking at private island real estate in the Bahamas, be prepared for the following.
With Over Seven Hundred Islands, the Bahamas Have an Island of Any Size for Sale
People are often shocked to learn that the Bahamas are actually an archipelago of more than seven hundred islands. The biggest ones are those that the tourists are drawn to and where all of the island nation's tourism occurs. The rest of the islands are mostly vacant or have one or two residents who have bought property. There are also islands that people can buy shares of, similar to timeshares, except that you have some ownership of the island you choose.
In-Demand Property Means High Costs to Purchase Outright
Because so many people are looking to the Bahamas for retirement islands, the prices for this real estate are going up. Even the smallest islands for sale that are still available are close to a million dollars American. Unless you have done an amazing job preparing for retirement, the cost of these islands may not be for you. However, you can own shares of an island as a means of both investing in the island you choose and having a place to live as mostly your own. This makes owning part of an island more affordable, and living there as you want is on your own terms. Other owners, if there are any, may choose to live there with you, but you may not see them most of the year.
The Bahamas are regularly in direct line of the seasonal hurricanes that come through and bash the east coast of the U.S. and all of the Florida Keys and, of course, the Bahamas. If you do not intend to be around when the hurricanes hit late summer through late fall, you still have to prep whatever home you have constructed on your island. If you live in tents when you visit your island, then you may contend only with the fallen palms and hurricane mess upon your return. If hurricanes really are not your thing, there are lots of other island properties around the world available for sale.
If you're interested in private island real estate, the Bahamas might be a good option.