here we go

Tanya,

Congratulations on starting this adventure.

Step one is to by the Settlers' Handbook advertised on this site. It is a tool that you will never regret having, before, during or after your move.

Step two is to schedule a pre-move visit that includes time on both islands so you and your hubby can decide which island better suits you. We can give you all kinds of opinions, and you can read everything in the book and on these boards about STT and STX, but you really need to invest in an in-person visit to get a feel, scope out the two islands, and then decide where you want to be. This is important.

We did the move two years ago with three cats. 🙂 It can be done!

Read as many of the move stories as you can, and start reading through as many posts on this board as possible. You won't understand just how important this all is to not being surprised in a bad way until you actually move. The info and people here are pure gold -- soak up everything you can.

Best wishes...

--HC

We have thought of doing this for so long...

The main thing for where we relocate is job market and pet freindly rentals. I have heard you have to be down there to find anything decent. For a decent price anyways. I understand that completely. I prefer to do things that way myself.

when you made the move did you have jobs already waiting or did you just save the money and go. Neither my husband or myself come from wealthy families. As a matter of fact they all think we are a bit loco..... Sometimes i have to agree with them. I mean what luck is a 30 year old finacial advisor and a 29 year old waitress going to have moving to the caribean. Of course we make our own luck, we can be broke and eating ramens up here...or broke and eating ramens down there, but down there we will at least be warm year round with a great view. That was a bit of an exagaration... but that is my attitude on this move.
Sorry to have gotten off track a bit.
Thanks again for all the help you guys can give. I will certainly read the board and buy the book.
Tanya

When my wife and I moved to STX about three years ago, we had no jobs or place to live. We had done our premove visit (PMV)and knew about where we wanted to live. We had sold most of what we owned, shipped most of the rest via USPS and put a little in storage. We had one week's rental at the Waves at Cane Bay. It took us three days to find a longterm rental (we were lucky). It took us three months to find jobs. We did have enough cash and income to live for a year. That took off some of the pressure. It's more stressful to get set up here. Partially because you are so far from your support system. We were here for 3 or 4 months before we felt settled in. Like HC said, memorize the Settler's Handbook. Read everything you can find on this board. The more information you have, the easier and less stressful it will be. Trust me, it's worth it.

Ric

Tanya,

I was so fortunate to be able to bring my job from DC here with me (I worked in online comunnications and had been working from home a lot anyways), so we didn't have to deal with the uncertainties of coming without a source of income. In some ways, that makes us very different than most folks. In other ways, though, there are a whole lot of posts suggesting that folks come prepared to be entrepeneurs and create their own job in their chosen field rather than hoping to find one on island, which is kind of what I did. (I've since been forced to retire on full disability, and am living proof as to why having short-term and long-term disability insurance is way more important than life insurance for many folks.)

Even though we had steady income from day one, we still saved a good chunk of money before the move to pay for our settling in costs like paying deposits, shipping/buying furniture, shipping/buying a car, etc. I wouldn't come here with no job and no place to live without having at least $10k in hand (after moving costs) to tide me over until I found employment.

Because the islands rely heavily on the tourism industry, you may be able to find work faster than your SO because you're an experienced waitress. One of the recurring themes you'll find as you read is that people moving here will have an easier time if they are willing to take work like waiting tables and retail jobs that may be outside of their field until they find employment in so-called professional fields -- and that they may even find these jobs pay more than the work they'd like to do.

--HC

I agree with you and we have been talking about what we are going to do. We want to have at least 10k in hand as well as a place to stay. We are talking about buying at this point. I know we should be there for at least 6 months first..... but we have been there before, 2 cruises 1 honeymoon and every day dream I have had for the last year LOL.

Does anyone know a good realtor. We are not going to be ready to start looking for some time now, with oct being the rough move date,but we would like to start talking to some one, and hey we have to worry about several things before we go like selling our house. Saving the 10k...LOL

Well that is where we are right now.

Enjoy the warm weather for us
Tanya

Tanya,

It sounds like you are really doing your homework and thinking carefully about what you want, and need to happen. I think you're going to be just fine.

BTW, we took a pass on the advice to rent for a while before buying -- we knew ourselves well-enough to know that once we make a decision, we don't look back. We bought a house on the third dsy of our PMV, which was also our first trip to STX. (We had been to STT for a vacation the December before). Had only one moment of panic over this (when we came into the house the first time after the move and sawwhat condition the sellers had left it in). It passed as quickly as it came and there's not been a moment since in which we've questioned or regretted our decisions.

I'll do my best to send some warmspring weather your way. It always feels brighter when you believe you're seeing the end of last winter that you'll need to endure!

--HC

Tanya - There are two schools of thought on how long you should be on the island before purchasing real estate. Some people live here for a little while and decide that the island life just isn't for them after all and return to wherever they came from. Due to this, there are people who suggest that you live here for a while prior to purchasing property. While that is a valid point, there are also strong reasons not to hesitate too long before buying your own personal piece of the island.

Some examples are:
Prices have been rising sharply over the past year and are expected to do so for several more years before slowing down. Condos that were priced at $90K a year ago are now selling for $200K at some complexes. People who waited a year to buy at those locations are now priced out of the market. This is also happening to people hoping to purchase single-family homes. Not only are the prices rising, but there is less and less to choose from as time goes by. Prices are rising much faster than most people's ability to pay. Soon it will be only the retirees coming down with the cash from selling their homes on the mainland who will have any hope of becoming property owners on St. Croix. First time buyers will have to look elsewhere or accept that they'll be paying inflated rental rates to live here.

If you choose your property carefully, then even if you ultimately depart the island the house or condo can be sold at a profit fairly quickly or it can be rented out to cover its costs until you decide you want to sell it. As properties with a mortgage must be fully insured, even if there were to be a hurricane, you shouldn't lose your entire investment. Meanwhile, as a property owner you are gaining equity as time passes. Tenants continue to pay high rental rates without gaining any increase in the value of the investment they are supporting for the person who actually owns the property they are living in.

You need a sizeable down payment to purchase property in the islands. There aren't any zero down loan programs here as there are on the mainland. In some special instances, you may be able to get a 5-10% down payment loan, but most brokers require 20% down. This can be difficult to scrape together when you are young or paying rent and trying to live from paycheck to paycheck. For those who can qualify for a mortgage to purchase property, this is often the first step towards financial stability and a growth in their net worth.

Even though you don't expect to come to the island for many months yet, you may feel free to ask me any questions you like about what's happening in St. Croix Real Estate and I will do my best to respond. If you prefer direct conversations, try me at stcroixhomes@hotmail.com

Hey, just thought I'd let you know, you can get the "Settler's Handbook for the US Virgin Islands" for free. I bought one and then got one free when I requested a moving package from www.st-croix-real-estate.com
Good luck

Hi every one. We just contacted a realtor that my hubby knows and she says we can probaly sell our house when we are ready for about a 5k profit. According to her that is not bad for having lived here for only 18 months. I would have just been happy with paying off the mortgage lol. I know 5k isn't a lot but when you think about the numbers we are going to have to comeup with every little bit helps.

Enjoy the warm weather for us....can't wait to get there
Tanya