If you are considering investing in a holiday home in Barbados, buying a luxury villa is an excellent choice. Not only does it provide you with luxury accommodation whenever you are on the island, but it is also an excellent source of income via holiday rentals to other holidaymakers.
The cost of buying property in Barbados is still very competitive compared to American and European property prices. Barbados villas can be as small as a two-bedroom property right through to a ten-bedroom property, so there will be something to suit your budget.
Barbados is a fast-developing country with steady economic growth and a continual rise in real estate prices. Barbados is also a lovely investment opportunity as there are no restrictions on non-nationals purchasing land or property on the island.
Decorated to a high standard, villas in Barbados go on the market with all fixtures, fittings, and furnishings. Barbadian villas cater to all-year-round tropical climates, providing spacious indoor or outdoor living space, and most come with a swimming pool.
Taking on the staff already employed at the property is also usual. These usually include a manager, a chef, a housekeeper, a gardener, a pool attendant, and a night watchman.
Many villas are located in the Sandy Lane area on the west coast of Barbados. They are tucked away, providing privacy and beautifully landscaped gardens, a complete haven of peace and tranquility that will make you buy your piece of paradise.
If you want to buy a villa to rent out, you expect to earn at least $500 USD per night. It is also advisable to employ the services of a real estate agent, which you can find advertised on the real estate pages of Totally Barbados.
A Real Estate agent can manage the rentals for you as they have an extensive list of visitors who regularly rent from them. They will also market the property on your behalf. This also ensures you get the right clientele staying on your property. They will also keep you on top of essential maintenance to ensure your property is in good condition.
Suppose you are going to buy a property with funds from another country. In that case, you will need to register and bring these funds into Barbados, as there are stringent laws on foreign exchange. If funds are not registered with the Central Bank of Barbados, then you will not be able to take the money out of Barbados in the future.
To buy a Villa in Barbados, you must appoint a lawyer and clarify the percentage of the purchase price they will charge. This differs from lawyer to lawyer, and there are no fixed fees for conveyancing in Barbados. It can also be a lengthy process compared to buying property in other parts of the world.
For essential advice on buying a villa in Barbados and finding the perfect property to suit your needs and budget, please consult one of the reputable real estate agents advertising within the real estate section of Totally Barbados or visit the Barbados villa sales guide.
