have become popular and the price will depend on the area and proximity
to a beach - on the island there is always a beach nearby.I am not a realtor,
but live here full-time and I regularly get questions about real estate
and the cost of living from visitors to my website www.retirecaribbean.com
Note to potential
home buyers - For the best prices it is better if possible to deal directly
with the seller. If you are here on the island and see an area you like,
stop and ask people in that neighborhood if there are any houses for sale.
Or, in the case of an apartment/condo building, ask the manager or concierge.
Many properties that may be available don’t have signs.
It’s fun to
drive around and try to spot “Se Vende” signs! They are usually small,
sun-faded, hand-lettered, and in very inconspicuous places. Also, tell
everyone you meet that you are looking. That’s how we found our condo.
No ads in the newspaper, no signs, but a restaurant owner I know knows
a doctor that had a condo in the building I liked and the doctor was thinking
are difficult to find because most apartments and houses are bought as
vacation residences by Europeans and Venezuelan Nationals. Few will rent
long-term because they want their holiday homes available to family and
friends throughout the year.
have opted to use income from long-term rentals to purchase another vacation
home, and these rentals are available...if you search!
own multiple apartments here. Actually, real estate investments serve as
a substitute for a bank/savings account. If you own real estate it
will always be there, and a bank may fail (no FDIC here). Also condo maintenance
fees are low. Fees and taxes on a $100,000 condo would probably be less
than $500 a year! Real Estate is booming! 18 to 24 months ago, it was a
‘buyer’s market’, but that is rapidly changing.
is still the least expensive island in the Caribbean (especially considering
the good infrastructure and general quality of life.) I’ve done some searches
on the net comparing properties with similar characteristics for sale here
and what is available on other islands, and so far, what you can buy here
would cost two to five times the price on other islands, and those other
islands may not offer the cultural diversity that makes Margarita so interesting.
I won’t say
we have the clearest water or the most beautiful scenery in the Caribbean,
although in some cases that may be true. But it’s nice to go to the market
and stock up on 20¢ beer and to be able to afford to drive to the
If you’re interested
in retirement or vacationing in a warm climate with a slower pace, affordable
cost of living and health care, and fewer rules and regulations, check
my website www.retirecaribbean.com
is the first article Scott wrote for the magazine: