Buy An Island
When most of us think about private islands, images of paparazzi plagued celebrities and evil scientists bent on world domination come to mind. Popular culture portrays private islands as the exclusive playground for the rich and famous, or the very eccentric. Good news: ordinary people can own islands too. There are thousands of islands for sale all over the world, from the Caribbean to the South Pacific. Many private islands have a price tag of under a million dollars. Island prices start at $50,000 in some parts of the world like Nova Scotia, Canada. Life off the grid is more affordable than you think…
Money is not always the most important factor in joining the private island club. Island owners are most often true escapists, valuing independence and privacy above all else. If you own an island, no one invades your space without permission. Even the most pesky neighbours will need very strong binoculars to peek over your fence. With our privacy eroding every single day, a private island is the perfect place to escape for holidays, or for good!
If you can stand being alone for long periods of time without being lonely, you are well suited to island life. If you can’t live without a Starbucks or Walmart nearby, you are probably not suited to the castaway lifestyle. Living on a private island requires a certain skill set. Most island dwellers are handy with tools and better than average at fixing mechanical problems. If you’re living on a small island with a simple infrastructure, you may be able to maintain the island all by yourself. If you have a large island with a runway and a complicated electrical system, it’s best to get some staff onboard for help. Private island caretakers often have diverse skill sets that make them well suited to their position. Staff keep an eye on your investment when you’re not there.
With any real estate purchase, a buyer needs to do their research. And then do some more. If you’re buying an island, make sure you deal with a reputable agent and a knowledgeable lawyer. Islands are a niche form of real estate, so you need to deal with people who are aware of any special restrictions or laws pertaining to their purchase. You wouldn’t buy a house without a thorough inspection. The same rule applies to private islands. Never buy an island sight unseen.
Cost is always a consideration when buying real estate, but with private islands, you need to think about how much it will cost to make the island livable. Some private islands are already fully developed. Others are just a rock in the water without a dock. Never spend your last cent on an island because it’s impossible to create an exact budget for developing your island. As a rule of thumb, islands can cost twice as much to develop as a place on the mainland.
Water and electricity should be your main concerns if you’re island shopping. If there’s no fresh water source on an island, a desalination system makes salt water drinkable. Generators and solar panels can supply electricity to run your home. Prefabricated housing provides a more economical alternative than building from scratch. And don’t forget to bring your Satphone so you can stay in touch.
Thorough research is the key to a successfully buying an island. If you’ve ever owned or travelled on a sailboat, you know that careful planning is necessary. The same is true when it comes to owning a private island. You need to be prepared for anything. Owning an island is hard work, but the rewards are many. And bragging to your friends about your latest purchase… priceless.
The information in this website is designed to help you navigate your way through the idea of buying an island. All real estate investments require careful consideration, but private islands are a niche form of property. Therefore, if you’re thinking about buying an island, there are unique considerations that don’t always apply to buying a house or a condo. This website explains how to find a private island, set up your infrastructure, deal with island brokers, and find your place in paradise. May all your island dreams come true!