Question: “As I shop for land on St Croix, what are some things I should take into consideration?”
Our Answer:
Here are some importance considerations when buying land on St Croix:
Location on island – For a small island, there’s diversity in the microclimates of the estates. As you travel from east to west, we have grasses and scrub bushes to a rainforest. Drive around and experience the different areas to decide what you like and what you would like to be close to – diving, hiking, restaurants, shops, etc.
Zoning – Will the property’s zoning allow you to use the land as you’d like?
Cost – Will you be paying with cash or getting a loan? If you are getting a loan, becoming pre-qualified will give you the peace of mind that you will be comfortable your monthly payments. It also makes a stronger offer to the Seller.
Terrain – Land will either be flat, gentle slope, moderate slope, or steep slope. What will best suit your design and needs?
Road conditions – Most roads are paved, but many are dirt or gravel roads. How will this effect the building process and how will it effect your daily life after you have moved in?
Proximity to other structures – Some people like the coziness of having neighbors. Others like more space around them.
HOA – Is there an HOA fee, and what is its use?
Covenants and restrictions – Sometimes estates or quarters will have restrictions on the use of the land
Question: “Outside of the listing, where else can I find important information about land for sale on St Croix?”
Our Answer:
Before buying on St Croix, consider yourself in the “information gathering” phase. Yes, it’s more fun to dream of the structure you will build, but, take some time to also think of the practicality of building.
R-2 – residential, low density (1 – 2 family dwellings), set backs 15’ on the front, 10’ rear and side
R-1 – residential, low density – 15’ set backs on all sides
The Department of Planning and Natural Resources is the USVI Government department where you will get your permits for building. Their web site will answer so many questions, perhaps even ones you don’t currently know. It will be worth your time to browse through it. You can also give them a call for clarification: https://dpnr.vi.gov/
The Department of Licensing and Consumer Affairs is a place you can search for licensed professionals. Here is their home page. At the top of the Home Page, click on License Search: https://dlca.vi.gov/aboutdlca/
If you are considering a loan, we can provide a list of local lenders. For a construction loan, the land owner’s application will need to include plans, permits, cost estimates, and an executed contract with a licensed contractor for the Lender to review. The Lender will also need an appraisal of the property, a survey, and a title review.
Contact us with any questions about land for sale. St. Croix offers stunning natural beauty, including pristine beaches, lush greenery, and crystal-clear waters. It’s perfect for those seeking a tropical retreat paradise!
See our video in which we offer more tips and advice on buying land on St Croix.
If you are considering listing your property on St Croix, take a look at the latest sales data, inventory, and days on market for the St. Croix, USVI real estate market. Download our newest Coldwell Banker St Croix real estate market reports. There is a report for each category: Homes & Condos, Condos, Homes, and Land!
If you are not familiar with with the implications of the data, please give us a call or email us directly with any questions. We are Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS) and have the experience and local knowledge to help you in every step of the process. We will help you narrow down neighborhoods based on your priorities. We will also advise you on the market trends in your desired neighborhoods.
Open St Croix Real Estate Reports by clicking on links below:
Question: What are the pros and cons to buying a home “as is”?
Our Answer:
When a home or condo is being sold “as is”, this simply means that the Seller has decided that they will not make repairs or improvements, and the Buyer is purchasing the property in its present condition.
While it may seem like “as is” homes are always in poor condition, this is not always the case. An “as is” clause is simply meant to help communicate that the seller won’t be making or financing repairs. Since the seller is not fixing any issues, the asking price for an “as is” house is typically lower than a comparable house. Here are some important “pros” and “cons” to consider.
Some reasons why buying a home “as is” could be right for a Buyer:
Exciting design opportunities: While not all “as is” homes need a complete makeover, they may be the perfect base for exciting renovations.
Negotiation power: Hoping to buy in a neighborhood that may be out of your price range? “As is” homes are typically priced lower than comparable homes, so you might find your dream neighborhood suddenly come within reach.
Opportunity to invest: Real estate investors looking for fixer-uppers buy homes to renovate and flip for profit. Whether you’re looking to do this as a business venture or have always wanted to buy a fixer-upper, an “as is” home may be the right venture for you.
Sone challenges with “as is” properties that Buyers should consider carefully:
Potentially expensive repairs: If renovating doesn’t excite you, then buying a home “as is” may not be your best choice. Depending on the home’s condition, it’s possible there could be expensive repairs that are hard to avoid.
Long renovation projects: Major renovations can take time. This might mean your home is out of commission for some time before you’re able to move in, or at the very least, you’ll be dealing with a noisy and dirty environment until the projects are finished.
Possible safety hazards: An “as is” home may have hidden problems you’re not aware of that pose safety issues.
Contact us with any questions about real estate on St. Croix!
Also check out our video about this topic on YouTube:
The VI Consortium recently reported that Lieutenant Governor Tregenza Roach has announced that property owners whose homestead property tax credits expire in 2024 must submit a new application and provide the necessary documentation to continue receiving homestead tax credits for their 2025 property tax bill. The Tax Credit must be renewed every five years, with the next renewal deadline set for March 1, 2025.
A Homestead Property Tax Credit is only applicable if the applicant is the legal owner of the property and uses it as their primary residence. Property owners cannot claim a homestead credit for more than one residence or apply for homestead credits in other jurisdictions. Additionally, the credit cannot reduce the tax obligation below the minimum of $180.00. Any changes to homestead status must be reported to the Office of the Tax Assessor by March 1 of each year.
Applications and homestead tax credit requirements are available online at ltg.gov.vi and propertytax.vi.gov, as well as at the Offices of the Tax Assessor on St. Thomas, St. Croix, and St. John.
Property owners eligible for the General Homestead Tax Credit ($400.00) may also apply for one additional credit like Veteran Tax Credit ($650.00), Senior Tax Credit ($500.00), and Disability Tax Credit ($500.00). See the VI Consortium full article and the St Croix Source full article for details.
Welcome to our January 2025 St Croix Real Estate Recap! If you are considering listing your property on St Croix, take a look at the latest sales data, inventory, and days on market for the St. Croix, USVI real estate market. Download our newest Coldwell Banker real estate reports. There is a report for each category: Homes & Condos, Condos, Homes, and Land!
If you are not familiar with with the implications of the data, please give us a call or email us directly with any questions. We are Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS) and have the experience and local knowledge to help you in every step of the process. We can help you narrow down neighborhoods based on your priorities. We can also advise you on the market trends in your desired neighborhoods.
Open the St Croix Real Estate Recap by clicking on links below:
