The debate continues whether to BUY or RENT A HOUSE. I have always seen owning a single-family property for personal use as restricting the owner’s movement and is not a good idea, as a substantial portion of the individual’s disposable income will be tied into mortgage repayment. Many divorces can be traced back to financial difficulties due to the cost of maintaining personal property. However, in the Caribbean, investment options are not many, and buying property to live in, or buying an income property, is the best option available to many individuals. There is limited possibility for investing in many of the investment options such as are available to citizens in the developed world. A few days ago I stumbled upon a YouTube video, “5 Reasons Why Buying A House Is A Bad Investment – What No One Tells Us About Real Estate Investment” produced by Odetta Rockhead-Kerr. I implore you to listen to her story but it is definitely not a one size fits all. Discuss your specific interest with your friendly and experienced Real Estate Realtor/Broker.
It is very important to note that there is no one absolute answer to solving the problem of investing when you live in the Caribbean. What happens in the Caribbean is far from what happens in the develop world such as investing in the investment space where substantial gains are realised. What will be important to the potential investor is timing. At what stage of your life will you jump into investing in real estate and whether it will be in a single family or income property building? It is my personal view that there must be a commitment by each individual to save a minimum of ten percent of their earnings and also increase their saving deposits whenever he/she gets a windfall, such as annual bonus, performance incentives, etc. Use every opportunity to learn about your options and always seek out ground floor opportunities where an investment of US$1,000.00 can yield substantial gains. Imagine buying Bitcoin at below US$1.00 and even though it is at $20,000.00 today, after declining from an all time high of around US$67,000.00, early movers are still smiling.
Whether you are investing in property or mutual funds, stocks, Forex trading, options, bonds, and other financial instruments, it takes learning, timely information from professional sources, and discipline, not to exceed the limits you establish.
In the Caribbean, the stock exchange has limited companies listed with no opportunity for getting the type of return on investment that investors may consider reasonable. My attempts in the past to join a Brokerage to trade in Stocks have been unsuccessful. In many cases we are locked out from the investment opportunities, even in multi level marketing where some companies claim that due to regulations the territories have to be opened up before Distributors could be recruited. In many cases person slip through the back door to gain access to investments in the developed world, especially the United States of America. In recent years, the Money Laundering Regulations added further frustrations for investors. There is always a way and the time has come for Investment Managers to be more active in the Caribbean region.
Since we are in the Caribbean, because of a number of factors including easy access to mortgage financing, owning property is the best readily available investment option, and most important citizens can be in control throughout the entire process, especially in securing reasonable mortgage rates and other concessionary terms.
In conclusion, be sure to listen to the video and seek advice from your Real Estate Broker.
Hereunder is our best property deal of the month.
Stay tuned.
Edward Harris
Blogger/Business Consultant/Realtor/Broke
Mobile/WhatsApp: 1-758-485-1456
FOR SALE!
GREAT PROPERTY DEAL IN LABORIE!
Location: Laborie High Road in the Village of Laborie.
Size: Land 4,179 sqft.
Building: Downstairs: 1,188 sqft
Upstairs: 2,008 sqft, including 528 sqft
Total Building Area: 3,196 sqft
Description: Spacious, 2-storey concrete building, with a clear view of the Caribbean Sea from the balcony. 3 bedrooms, 1 Bathroom and kitchen downstairs, and 1 master bedroom upstairs with private balcony and open sitting room.
Price: EC$650,000.00 Negotiable
Contact: Ed Harris – Mobile/WhatsApp 1 758 485 1456
