| If
you're thinking "a private island… sure, maybe when I win the lottery,"
don't despair - buying a private island is a much more attainable goal
than you probably realize. There's no denying it, a few million bucks in
the bank will expand your options considerably, but the days when islands
were the exclusive status symbols of the rich and famous are long gone.
Today, if you can afford a reasonably priced cottage, you've got what it
takes to afford an island.
With private
islands, as with all things, price is a function of demand. That tropical,
palm tree-laden island with the white sandy beaches we all dream of is
going to appeal to a lot more people than a similarly-sized island in northern
Saskatchewan - and you'll pay accordingly. Location is the most important
factor in determining an island's price. While islands in the Caribbean
or South Pacific typically cost US$ 1 million and up (exceptions exist,
of course), islands in more northern climes can be had for a fraction of
that price. Availability is another factor to consider. Private islands
in tropical locales are quite rare, and consequently more expensive. Canada,
with its million lakes and thousands of kilometers of coastline, has more
islands than any other nation. This abundance of choice is reflected in
island prices. |
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It's
not unusual to find a Canadian island selling for one third the price of
its American equivalent, or one tenth the price of a similarly sized Caribbean
property. When choosing a private island, don't rule out islands which
are located somewhat off the beaten path - you'll spend a bit more in transportation
costs to get there, but you'll save a fortune in the long run.
Another factor
to consider when purchasing an island is the degree of development. Are
you looking for an undeveloped island, left in its natural state, or are
you looking for a property with existing facilities? If you're planning
on building a home or cottage, bear in mind that construction costs on
islands are significantly higher than on the mainland - budget at least
1.5 times the price you'd normally expect to pay for construction. While
untouched islands tend to be cheapest, you may end up saving both time
and money by purchasing an island with an existing dwelling.
An excellent
way to determine what type of property is best for you is to rent an island
for a few days. Many island owners rent their properties for all or part
of the year, often at rates comparable to a typical hotel stay. Renting
an island gives you the chance to "test drive" island ownership, and learn
exactly what you're looking for (or want to avoid) in an eventual island
purchase. |
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| Do you prefer
something more isolated, or is an island in a well-trafficked locale more
to your taste? Does roughing it Robinson Crusoe-style live up to your fantasies,
or is it worth the added expense to find an island with a pre-built home
or cottage? Renting an island goes a long way towards answering some of
these questions, and let's face it: how often do you get to combine "homework"
with a unique vacation experience?
Once you've
decided on the type of island you're interested in, the serious research
begins. Spend as much time as possible investigating what islands are available
on the market. The Internet is an invaluable tool for this. Contact the
island owners or their representative (as the case may be) and ask
questions - lots of questions. You'll probably want to know about the island's
degree of accessibility throughout the year, the ease and method of supplying
the island with food and other necessities, details on navigating the surrounding
waters, and a whole host of other issues unique to an island purchase.
Research is
the key to finding that perfect, affordable private island. They're out
there - you just have to know where to look. |
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 Escape
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