There are a number of factors you should consider before making an investment in a vacation home. Making that significant change can undoubtedly seem unattainable, but there are many nations where buying a holiday house is still reasonable.
8. Trinidad & Tobago
Are you considering purchasing a vacation home in Trinidad? There is no doubt that it is possible. There are no restrictions on the purchase of commercial or residential property by non-residents. Nevertheless, some parts of Trinidad and Tobago are less expensive than others.
Those looking for a vacation home should consider Maracas Bay Village, as it is close to fantastic restaurants and surrounded by beautiful beaches. Think about buying a house on the hill; on vacation, you can wake up every day with a beautiful view of the water.
Average Vacation Home Price: $320,000
7. Caye Caulker
Caye Caulker is a small island in Belize. Although not as well known as Ambergris, the island offers an excellent selection of properties for those looking for a vacation home. Caye Caulker has a lot of potential as a holiday home destination if proximity to the beach is an important goal.
The real estate sector isn’t precisely regulated, so it’s important to work with a real estate agent who is well-versed in the market to avoid being taken advantage of.
Average Vacation Home Price: $280,000
Buyers looking for a holiday property in Antigua and Barbuda have many options to choose from, but they must be in pre-approved locations.
The cost of living is slightly higher than in other Caribbean islands, but still at least 20% lower than in the US. In general, Antigua is an inexpensive option for vacation property buyers. Additionally, if buyers participate in the Antigua and Barbuda Citizenship by Investment Program, pathways to citizenship open up.
Average Vacation Home Price: $255,000 to $12,000,000 (minimum purchase requirement price of $200,000)
Highlights: Shirley Heights, Nelson’s Dockyard, Valley Church Beach, Betty’s Hope
5. Ambergris Caye
Want to buy a vacation home near Belize? Think about Ambergris Caye (Isla Bonita). On the island, not only are there affordable vacation properties, but also no capital gains tax. Moreover, the island has become a preferred location for Caribbean vacation homes due to its proximity to services.
Families and individuals do not have to sacrifice necessities like internet, electricity, water, and shopping when they buy a vacation property here. The two main means of transportation are bicycles and cabs, but sometimes you will meet foreigners driving golf carts.
Average Vacation Home Price: $200,000 and $700,000
Highlights: watersports, especially snorkeling and scuba diving
Roatán, a captivating island in Honduras, is renowned for its exceptional diving opportunities. Notably, it stands out as one of the most affordable Caribbean islands for purchasing a vacation home. While electricity costs may be slightly higher compared to other parts of Honduras, this is balanced by the advantage of lower property taxes than many other countries.
Average Vacation Home Price: $135,000 – $175,000
Highlights: watersports, zip lines, sloth sanctuaries, and horseback riding
3. Puerto Rico
When it comes to affordable real estate in Puerto Rico, Guayama stands out as the perfect choice. Known as “La Ciudad Bruja,” this captivating city offers a diverse selection of budget-friendly options, ranging from charming fixer-uppers to stunning beachfront houses, making your vacation homeownership dreams a reality.
There are no restrictions for United States citizens when it comes to acquiring property in Puerto Rico and the process it’s very easy, compared to other places in the Caribbean.
Average Vacation Home Price: $112,000 (Location: Guayama)
Highlights: sailing, beaches
Barbados sometimes referred to as the Gem of the Caribbean, is a fantastic place for an inexpensive vacation property in the Caribbean. Since there are no laws prohibiting foreigners from owning land or real estate, the buying process in Barbados is quite simple. Although many foreigners buy either directly or through an offshore company, it is best to work with a real estate agent and a lawyer to handle all the details.
Beachfront properties are very expensive in Barbados. So if you are looking for a vacation home, you should check out Crane Bay. Even though it is a bit more expensive, there are still some properties that are affordable if a buyer is willing to buy them.
Average Vacation Home Price: $67,500 – $400,000
Highlights: Carlisle Bay, Bathsheba, Harrison’s Cave, Crane Beach