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i enjoy the USVI. I just returned from my third trip in the past 2.5 years. I never want to leave St. Thomas when I visit. I'm really trying to buy a second home there to live a few months out of the year. I just don't know that would be feasible without owning my own business or working remotely full time
i enjoy the USVI. I just returned from my third trip in the past 2.5 years. I never want to leave St. Thomas when I visit. I'm really trying to buy a second home there to live a few months out of the year. I just don't know that would be feasible without owning my own business or working remotely full time
Many such as yourself purchase condos here and rent them out as vacation spots, thus enabling them to keep up with all the cost of maintenance but have their own place to come to for either short or extended trips. I have many friends who do this and it works out for them but it's absolutely something you need to research very thoroughly.
Many such as yourself purchase condos here and rent them out as vacation spots, thus enabling them to keep up with all the cost of maintenance but have their own place to come to for either short or extended trips. I have many friends who do this and it works out for them but it's absolutely something you need to research very thoroughly.
yes I've looked into doing this. I'm actually trying to save up enough money to purchase a condo in cash. the condo fees are high at many places and then you have to pay out a chunk to a management company but if you rent it enough you should make a small profit or break even.
do you know if the studio condo's over at mahogany run rent well or should I strictly stick to PP and Sapphire? I prefer the views of the northside personally and dream of waking up to a view of Hans Lollick every morning
Can't help you with the Mahogany Run rentals. I have many friends who own and live there but none who rent. Sapphire probably has the best record of rentals with PP behind it as it has no beach to speak of whereas of course Sapphire is one of the best. Condo fees are very high but of course you could also look at a free standing home on the North side with an attached rental unit for income. Your best bet would be to work with a local realtor.
Can't help you with the Mahogany Run rentals. I have many friends who own and live there but none who rent. Sapphire probably has the best record of rentals with PP behind it as it has no beach to speak of whereas of course Sapphire is one of the best. Condo fees are very high but of course you could also look at a free standing home on the North side with an attached rental unit for income. Your best bet would be to work with a local realtor.
Thanks I appreciate the advice. I don't have any real desire to rent the unit. The only reason would be to offset the condo fees but I just want to own a place to come and stay a few times a year. At roughly $360 a month for condo fees, I may be willing to just eat that monthly cost and not rent it.
The VI is very beautiful and has such great proximity to other islands. People from all over the Caribbean live there, so it's a different experience. On any given day, you can hear English, Spanish or Kreyol spoken. You can get Dominican food, Trinidadian food, American food etc. So the VI wins this one for me...
I was born and raised in PR, and I hate it! People, traffic, crime, reggueton, and a general loss of respect for life, death, property, and everything else. If it were a low populated island, it would be one of the most beautiful in the world. I rather live broke in Northern Virginia than go back to PR and feel unsafe all of the time. Low rent and nice winters are not worth the risk of getting murdered. The only thing I'll visit for are my family and the food, and I'll probably stay away from San Juan and the metro area.
I don't know about the Virgin Islands because I've never been there.
Thanks I appreciate the advice. I don't have any real desire to rent the unit. The only reason would be to offset the condo fees but I just want to own a place to come and stay a few times a year. At roughly $360 a month for condo fees, I may be willing to just eat that monthly cost and not rent it.
Just curious as to where you're getting a figure of roughly $360/month for condo fees ... that's very low. And figure in utilities. You can't leave a condo unit sitting idly without keeping the AC at least on minimum and our electricity rates are the highest under the US flag - right now at 50¢/kWh. If you just want to come and stay a few times a year and not rent out the unit you might be better off just renting rather than buying.
Just curious as to where you're getting a figure of roughly $360/month for condo fees ... that's very low. And figure in utilities. You can't leave a condo unit sitting idly without keeping the AC at least on minimum and our electricity rates are the highest under the US flag - right now at 50¢/kWh. If you just want to come and stay a few times a year and not rent out the unit you might be better off just renting rather than buying.
the condo fees for a studio at Mahogany Run are 360 or 370 a month, I forgot but its around that much
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