Buying Barbados Real Estate? What You Need To Know

You should consider Barbados real estate if you are thinking about a move to the Caribbean islands.



Have you ever thought about getting away from it all? Picking up and heading to a beautiful Caribbean island paradise? I know I have, and when I think about owning property on one of the many Caribbean beaches, I immediately think about Barbados real estate.

Why Should You Consider Buying Real Estate in Barbados?

As the old adage goes, "location, location, location." And in my humble opinion, there are not many locations on earth better than Barbados!

What makes the location so favorable in Barbados? Many things, actually.

There are many Barbados real estate options that are as diverse as the island itself. If you are looking for acreage and a beautiful landscape, a plantation home may be just the thing. If you are like me, you might be dreaming of a home overlooking the clear blue Caribbean sea to relax and take in the fresh sea breeze and warm sun.

Additionally, Barbados is often called the jewel of the Caribbean islands because of its warm a friendly people and culture.

Finally, you do not have to be a citizen of this island nation to purchase or own real estate in Barbados. All that is required is the money (that goes without saying) and patience for the process of real estate ownership on this Caribbean island.

What is the Process for Buying Barbados Real Estate?

The process for buying Barbados real estate is relatively straight forward with the right guidance.

When considering buying real estate in Barbados, first determine they type of property you are looking for and what price range you are able to afford. During this process, keep in mind that the most expensive areas of this Caribbean island are the west and southwest coasts (the Caribbean side, though the island does not actually border the Caribbean Sea).

Once you have a type of property in mind, the most important step to travel to this Caribbean island and spend some time looking at properties with a Realtor. A good Realtor will not only help you find the perfect property, but also provide assistance throughout the property purchasing process.

As you begin to narrow down your options, you will be required to hire a Barbadian attorney. You cannot purchase real estate in Barbados without their services. The attorney primary purpose is to assist with transference of title for the property.

Speaking of titles, a title search can take up to three months on this Caribbean island. This of course allows you plenty of time to tie up the other loose ends involved in buying real estate in Barbados below.

The Realtor and attorney can also help you to obtain permission to purchase real estate on the Caribbean island of Barbados from the Barbados Central Bank. This is required for all non-residents and non-citizen of Barbados.

Once all of the permissions have been obtained, it is time to make the offer on the property. When you and seller agree on the terms, it is time to sign a contract for sale and obtain financing for your purchase.

If you are not a citizen of Barbados, this may very well be the most difficult part of the process. However, your Realtor should be able to help in this situation and point you in the right direction.

Buying Barbados real estate can be a rewarding and pain free process, and is the first step to your new, relaxing life in the Caribbean islands.



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