Moving to USVI and have a couple of questions

Different companies offer different relocation assistance but the basics covered are usually moving costs, temporary lodging costs and assistance in selling your house (if applicable) and sometimes job search assistance in the new area for the spouse. It varies so much so in order to determine whether $10K is "enough" you need to know how they're breaking it down and what they're expecting to cover for you.

We usually recommend that a single person coming here bring $10K to cover first, last and one month's security deposit on a rental; deposits on utilities; and maybe an inexpensive island car. That $10K doesn't go far but it's a general base. Assuming you're going to want at least a 2BR house/condo, have you checked out cost of rentals yet? Everyone's needs are different but I venture to guess that on $102K/pa you can support your family but maybe to not quite the same standard as you're accustomed to in Daytona Beach. Your average COL here will be 30% higher.

You'll get a much better idea when you start exploring but taking a drop in salary to come here (and combining that with your wife not producing income) is, I think, going to see you going without some of the things you're used to.

Thanks for the reply. The 10K in relocation is a check cut to me with no strings to help with the cost of relocation. I have checked out rentals and would only be doing a short term rental until my house sells here than we would purchase. Don't really like renting. I am hoping we can find a way to make it work. Love the idea of living in the USVI.

Thanks again
Brian

On a side note we also have savings of more than 10k so that wont be a problem.

Then there are companies like Caribbean Auto Mart that dick you out of the relocation agreement at the last minute.

P.S. If you bring your car there for service you'll experience the same.

I plan on bringing 2 cars but will take them to Miami to ship (American made).

1) Are the cars already paid off?

2) How are you sure they are American made? Did you check the VIN?

... I have checked out rentals and would only be doing a short term rental until my house sells here than we would purchase. Don't really like renting.
Brian

I don't know how much you've read of all the general information in the drop-down menus top of this page or on the forum threads, but the perpetual refrain includes a real warning against buying property here until you've lived here at least a couple of years. The attrition rate of newcomers is VERY high. Living in the Caribbean sounds exotic but, once reality sets in, it is FAR different from living anywhere stateside. Maintaining a property here is time-consuming and expensive and those of us who've lived here for many years have seen many, many people who jumped into buying real estate and then were left holding it for sometimes a very long time after they left. Just be forewarned.

You'll have a much better idea once you visit and hopefully you're coming for long enough to do a real PMV (pre move visit) so you can, as well as looking at rentals, try and go about a day as you would if you were living here. Going to the bank, the PO, shopping, driving during commuter hours, etc.

Enjoy your visit and hope it works out for you!

PS: You said you were planning on going to both STT and STX. Is this job flexible so you can work on either island? You can't live on one and commute to the other - they're separated by 40 miles of open sea so you live on the island on which your job is located.

You should be just fine, if living on a small island floats your boat.
Get everything writing.

It's easier here if you rent prior to purchase just to get your feet wet and figure out what locations suit your needs.
I went the opposite direction when I decided to make a move to FL, hopefully before the end of the year.
I will be renting my home here until I figure out my move suits me.
It was less expensive to buy than waste the money renting something suitable for my needs and that of 3 dogs.

Prices for home ownership are much higher here and while I considered renting for a year in FL, it was difficult finding exactly what I wanted, where I wanted and what I wanted to fulfill my needs.

That's something you're going to have to figure out here.
PM me if you like.
I'll be renting my home here, hopefully, by Dec. 1.

STT real estate is way more expensive than FL.

Any additional improvements to the house cost a fortune. It seems STX is less expensive as far as real estate.

STT real estate is way more expensive than FL.

"Prices for home ownership are much higher here"

Yes, indeed, as I stated.

 

I plan to purchase 2 new cars before coming and will check the vin. As to not pay extra tax. I have the option of living on either island.

Thanks for all the responses

I also have three Boston Terriers so renting may be an issue. We will be downsizing our house due to the two youngest boys taking off for college. So is the concensus that 102k would be doable with paring down some of the luxurys that we are used to here?

Thanks again.

Does your wife currently contribute financially to the household? Have you visited the USVI before or is this upcoming visit your first?

Whether your salary will enable you to live comfortably here really depends on how much you're able and willing to sacrifice. You're taking a salary cut of $8K (maybe even a higher household income cut if your wife presently contributes financially) and moving to a place where the COL is 30% higher than where you now live.

If you're planning on buying two new cars to ship here and they're being financed, make sure that the lender will allow you to bring the vehicles here. Most don't. If for whatever reason you find out that island living simply doesn't work out for you, shipping those cars back will be a major expense. Island driving is very harsh on vehicles. It's rare for people to bring cars and then ship them back given that scenario.

Just some food for thought.

Hopefully, you negotiated family plan health insurance with your potential employer.

Otherwise, plan to self fund all of your health care, which makes $100K seem like not enough.

As elsewhere, real estate is all about location, location, and location. A lot of houses come furnished so you may not have to move all your stuff.

I live in FL, spend lots of time in VI and soon will move to STX to a home I bought a few years back. COL is not 30% more than FL but it is more. Watch where you shop, buy on sale, buy online, no big deal.

Electricity is high but there's usually no water bill because your home will have a cistern.

Property taxes are virtually non existent compared to major metro FL charges. Home owners insurance is about the same for me in FL and the VI - but in FL I live in an area requiring flood insurance.

I think you will be fine!

It sounds like you're in a grand position to make your move.
Many of us would love your budget and attitude.
You'll have to see for yourself what works and what doesn't.
Good luck to you.

"Home owners insurance is about the same for me in FL"

Jeeze Gators Mom!
My homeowners insurance in FL is a pittance compared to what I pay for my home in the VI!

I'm serious. It's appalling how much we continue to pay when one has had not a single claim since hurricane Marilyn.

Because I am working for the government health insurance is included in the deal. I will have to pay some for my wife but that's the same deal here. Thanks everyone for the responses!!

"Home owners insurance is about the same for me in FL"

Jeeze Gators Mom!
My homeowners insurance in FL is a pittance compared to what I pay for my home in the VI!

I'm serious. It's appalling how much we continue to pay when one has had not a single claim since hurricane Marilyn.

My house may be worth more since it's near salt water in a major metro area. And, as a FL coastal homeowner, I have to have both flood and homeowners insurance.

Location, location, location.

FL is a big state.

Location, location means not much in the USVI where home insurance is concerned and your general summation is incorrect and misleading. Apples and oranges. Alana is a real estate agent and is correct. When you actually live here, many incorrect assumptions are quickly corrected!

My homeowners insurance is about $6800 a year for our modest little 3600 sq ft home. But that's down from $7400 when we first bought it.

That said...I could easily live on $102k a year on STX.

which island is the job on? you said you can live on either stt or stx, unless you travel back and forth by plane for your job how is this doable and ill you have to travel back and forth everyday or just once in a while? interesting

but the amount you make per year is more than doable.

the cars-most lenders require they be paid off before shipping them. we do have car dealerships on island if you need a new car.

speee1dy, location question asked and answered earlier and car info also given earlier.

i did not see where those questions were answered by the op

speee1dy, location question asked and answered earlier and car info also given earlier.

I have the option of living on either island. /quote]

There wasn't a question asked about the proposed purchase of new cars, but information given:
"If you're planning on buying two new cars to ship here and they're being financed, make sure that the lender will allow you to bring the vehicles here. Most don't. "