| TOP (117) :Caribbean (7) : Bahamas (1)
Building Lots on Long Island in the Bahamas
|
| Property Group | Residential | | Property Type | Vacant Land | | Lotsize | 0.50 acres | | Price | US$ 37,200
For Sale |
|
| Location | Buttonwood | | Nearest City | Richville |
|
| | For further details contact
John Wallace
143 Longview Drive
Chatham, 12037, NY
United States
Phone: +1-518-392-7062
Fax: +1-877-875-5704
http://www.worldrealtynews.com |
|
|
MedProp-20
Do you dream of living somewhere that is peaceful, where the only noise you can hear is the birds singing and a gentle lapping of the waves on the shore, but not far from civilisation. Our new development Buttonwood Richville may be just what you have been looking for. Tucked away with a protected shoreline Buttonwood Richville consists of 58 lots for building your Bahamian getaway or retirement home. With no passing traffic, the whole area is very private but not far from the centre of Deadmans Cay which is the largest settlement on Long Island, where you can buy groceries or sip a kalik beer at the bar...
The area of Deadmans Cay is well known for being the centre of the island with the small airport a few miles away that gives you direct contact with Nassau and further up the island heading north is the Stella Maris Airport that is now having flights from Fort Lauderdale twice a week. You are never far from anywhere but you are far enough away!
The most popular and sought after lots on the island are the ones that face the caribbean, and they are in short supply at the prices we are selling them for, a quick look around the internet at realtors selling Long Island will confirm this. These lots are being sold with full title and with the supply of electric, water, telephone and cable TV. We are lucky enough to have city water in Deadmans Cay so no need to dig a well, you can connect to the main water supply.Long Island currently enjoys duty free status on construction materials, so building your home costs 34% less if you act now, it is a great time to invest in this family island in the Bahamas. We have Bahamian constructors, Architects, lawyers on hand to help you with your construction.
Details of the lots
Each plot is approximately 1/2 acre, some will vary slightly more or slightly less and the prices will reflect this. All are flat and excellent for building single or double storey homes. There is 10 lots directly overlooking the water and have fantastic views over the sea, marshes and onto the surrounding cays. Access to beaches is either a 10 minute drive away or across by boat to one of the little private cays which are situated just opposite the boat ramp. Suitable little boats can be moored easily on the shores close by to the boat ramp. Further plans if all owners agree already has the permission of the government to make the sea deeper in front of lots 56-47 to allow boats to be moored and a possible beach can be dredged to allow a private beach for the community.
About Long Island
Like going back in time, beautiful and tranquil is how many describe Long Island and to prove it, it has one of the highest return visitor rate in the Bahamas, people just cannot get enough of this treasure.. The simple island life is evident, and its a great place to get away from everything and enjoy: Great fishing, superb diving. adrenaline rush shark dives, exploring caves and the famous Blue Hole, are just a few of the attractions that visitors enjoy. For years it has been a well kept secret and now with the current legislation that is allowing all goods to be imported duty free, and this will allow land buyers to build on their plots without having to pay the duty on their building materials. It offers a huge saving of 34% that whether you construct your home or a builder does, it makes having your Bahamian home much more realistic and affordable.
The small airports that currently operate flights from Nassau and Gt Exuma are also set for expansion to allow international flights from the USA, so inevitably the island will start to get busier and prices will rise on plots of land and homes will get more and more expensive. The Duty free status is on the island NOW and it is a window of opportunity that is only open now.
Clarence Town - which is the capital has the island's prettiest harbour and is home to the local Government buildings. It is noted for its twin churches, and shops, harbour bar restaurant and beach.
Return on your investment (example) the prices quoted reflect today's market value so this is minimal return and prices will only go up. Figures quoted are approximations
Lot 1 to purchase $35,660 + stamp tax and closing costs (approx 8% but allow 10%) = $39,228 to construct a 3 bed 2 bath by a construction company $253,600 depending on finishes, bringing your outlay to $292,826. The resale value of the home once constructed is approximately $375,000 upwards depending on finishes. Time to construct is 18 months giving you $82,174 clear profit in less than 2 years that is a 28% return ..there is not many places left in the world that will give that return in such a short space of time
Other factors to take into consideration
Islands run out of buildable land and therefore the price of real estate will rarely drop in any location such as Long Island
The Bahamas is a recognised established market with a vibrant tourist trade for rental income
Long Island is on the map - Dean's Blue Hole is the deepest in the world and makes it one of the natural wonders- hoardes of divers visit the island year round
The Port St George's 5* star hotel which has just been designated to be a Langhams Spa hotel -and will feature an 18 hole golf course and 650 slip marina with open use. This is great news for Long Island as the prices will triple even quadruple once the resort is up and running around 2012 - Land sales in this area for example Oceanfront half an acre is $500,000.. out of most peoples price range, but buying in Buttonwood Richville, you can still have access to the facilities but you do not have to pay the high prices or maintenance charges associated with the resort life.
More airlines are now lining up to offer new flights from the USA and Nassau - where the airlines fly to there is growth always...
The people on Long Island are the most friendliest and welcoming to foreigners and 2nd home owners in The Bahamas.. life becomes a lot easier if where you are considering retiring to or having a holiday home the locals geniunely welcome you and do not take advantage of your lack of knowledge and overcharge everything.. That happens throughout the Bahamas, thats a fact of life....but Long Islanders realise that in order for their island to prosper they need foreign investment and they need a good reputation which through their kindness and hard work in making their island, clean and well kept they have rightfully earned.
Availability and payment plan
Examples of prices:
Plot 1 $37.161 - 21,357sqft
plot 19 $41,760 - 24,000 sqft
plot 37 $66,240 - 28,800sqft - sea views
plot 39 $80,868 - 35,160sqft - sea views
plot 43 $103,845 - 45,150sqft - sea views
plot 48 $78,000 - 30,000sqft - oceanside direct - sea views
PLOT 58 consists of 2 acres and 8 studio cabins, a kitchen and laundry buildings - seaviews from the side of the cabins) - needs work for renovation $275,000 complete.
To reserve a plot paying cash the deposit is $5000 and the remaining amount is payable at completion which is normally 1 -2 months later or with Owner financing over 18 months (unless you take the no money down option).
All lots can be reserved on a first come, first served basis
To purchase a lot -We have three finance plans one with a NO MONEY DOWN offer. Please enquire at reservation to decide which plan is suitable for you.
Closing costs
10% CLOSING COSTS TO INCLUDE STAMP TAX , FOR ALL CLIENTS WHO USE OUR BAHAMIAN LAWYER 50% STAMP DUTY IS PAID (we can offer this discount because of the volume of clients using the same lawyer reduces the lawyers fees overall)
Property tax each year is 1 % of the land value, when you build a house and it is under $250,000 it is exempt , less than $500,000 in value is 3/4%, more than $500,000 is 1%
Annual homeowners community fees - $140 per month per lot, to include upkeep of the refuse collection and road repairs
Email for additional information. |
|
|
|
