Published on our November 2023 Newsletter
Question: “What is holding buyers back from buying a property?
Christie’s Answer: Inventory and affordability are the two top issues for Buyers, according to ABR’s (Accredited Buyers’ Representative) monthly magazine. The third issue is that Buyers seem to have unrealistic expectations.
On St. Croix, inventory has been low for several years, and this continues to be true. Since every property here is truly unique, it’s important to be ready to make an offer when a property you love becomes available. It most likely will be sold when you are ready to relocate. Buy it now! Until you are ready to live there yourself, you can rent it as either long-term, or a vacation rental. Knowing what you would like in a property and possible location on the island is key to a successful purchase.
Buying property on St. Croix differs from buying property in most states. To assist our Buyers to have realistic expectations, we take time to discuss the process, and answer all questions.
Despite all of the preparations, sometimes there are unforeseen challenges which can delay closing. For example, on one large parcel of land we sold, an archeological site was found of a Pre-Columbian ball court. Historical research was needed, and legal documents prepared. Ultimately, that portion of the land could not be disturbed by the new owners. They were delighted to have such a site on their land!
Contact us with any real estate questions!