Relocating and buying a home
My family, wife and 2 kids are thinking about relocating to STT. This board is full of great info and has been extremely helpful. I haven't read any posts about working and buying a new home on the island. Is this because of money issues? Do most people rent because things may not work out or it is a tough market for resale? I would appreciate any insight.
Jamie
IMHO, we don't speak of realty on this board because most of us can't afford a home here, most of us rent. The majority of homes (and land) has been passed down from generation to generation, so it never really gets on the "market" to begin with. The prices of homes here are typically higher tan in the States (ex.-contractor prices to build a home are anywhere from $95 - $750 per sq. foot! This can get pricey! Haha! But, if you were to inquire with realtors, they will be more than hapy to show you what is available. I would suggest trying Camille at her home at 340-774-3596. Tell her you got her from "Marty" and she will be oh, so helpful. I left a message on her machine, so she will be awaiting your call.
~Marty
I'm curious as to why you are specifying St. Thomas, where the prices are higher, there is less available land, the pace is hectic, etc. Do not let bad publicity/press deter you from investigating St. Croix. Slower pace, more housing available, better job market for skilled people, etc. The "crime" issue has been blown waaaayyyy out of proportion. The cruise ships wanted some concessions from the govt. and when they couldn't get what they wanted they pulled out citing "crime." Well, Puerto Rico has more murders per week than we have all year, and Cancun had seven murders in one day last week. Didn't stop the cruise industry from going to those places though.
I purchased a home in April, at the height of the seller's market (read: EDC fever). Not sure what market you are coming from but expect to spend b/w $375-500K on a basic, masonry 3br, 2ba. home with apt. and water view in a nice neighborhood (for obvious reasons, this is the most popular), depending on renovation work that may need to be done. If you can wait things out a bit, I would consider holding off for 6 mos. to 1 year to see how the new EDC tax rules play out. While I anticipate that this may only implicate higher end homes (which have already slowed down in sales), it may lower the asking on mid-range homes as well.
I am pressed for time so cannot explain in further detail. If you have any specific questions about realtors and/or the process generally, feel free to email. Good Luck with the relocation!
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