JUN 12, 2024

First-Time Buyer Alert! Let’s get started....

You’ve saved up the deposit and you’ve done all the research; you’re ready to plant your foot firmly of the property ladder. It’s exciting, it’s a little frightening, but once you’ve appointed a fabulous realtor (we’re happy to make some purely subjective recommendations), you are ready to get your house hunting show on the road. While BVI real estate often comes with a larger price tag, not everything will cost you a million (or more) and change.

With the BVI Government scheduled to extend the stamp duty waiver for first time belonger buyers there is no better time that to explore how to acquire property.  If you are investor on a budget, a young entrepreneur or simply want to own your home let us highlight a few buyer-budget-friendly options worthy of some consideration.

Oceanside Living

Red Coral has two turnkey treasures currently listed and looking for loving owners. Ideally located and aptly named Long Bay Apartment sits just beyond the breakers of Tortola’s westerly Long Bay Beach – an unspoilt stretch of sea and sand that most only dream about experiencing. The spacious two-bedroom, two-bathroom apartment is set within a two-level six-unit complex with shared sparkling swimming pool and sundeck. While designed and built some years ago, the apartment’s layout is contemporary, characterised by vast floor to ceiling glass windows highlighting tropical, palm-fringed views and allowing the space to be flooded with natural light. Enter the property from a spacious parking area through a prettily landscaped courtyard perfect for entertaining or enjoying a quiet weekend BBQ. Walk to the beach or Long Bay’s stunning resort, bask in the beautiful morning light through your windows, and soak in some of the most sensational sunsets you will ever see.  Editors note – this has just gone under contract!

On the opposite coast of Tortola is the small residential community of Manatee Point, a protected enclave of contemporary condominiums right on the water. Through a garden gate and prettily landscaped courtyard sits three-bedroom Manatee Point Townhouse patiently awaiting a loving owner. The home’s lower level encompasses an open-plan kitchen and living area complete with home office nook. French doors lead out to a covered wraparound deck, fringed by lawn leading down to the water. Upstairs are two king bedrooms, both ensuite, with a shared balcony facing the sea. Bedroom number three is a separate pod, also ensuite, perfect for visiting family and friends, or older kids looking for a little independence and space. What’s more? Owners have the opportunity of adding a dock and swimming platform to their new property should they wish.

Added bonus: Both Long Bay and Manatee Point are sought-after destinations for short- and long-term rentals. Each property is primed to generate an income for those who wish to offset their investment when they are not in residence.

Homes in the Hills

If you’re looking for a little more space and a pool of your very own, delightful  Havers Villa might just tick all your first-time buyer boxes. This three-bedroom hillside home is all about wide open views of sea, sun and sky, and gorgeous cooling breezes. Laid out across two stories, the home’s unique architecture adds to its appeal. Two spacious ensuite bedrooms occupy the upper level, each with uninterrupted views out across the Sir Francis Drake Channel to neighbouring islands. The lower level encompasses the principal ensuite bedroom, living room, contemporary kitchen, and covered dining. We love the Caribbean colours, quarry tiles, and warm wood used on the floors of this level. Most of your time at home will likely be spent poolside however, cooling off in your infinity pool, soaking up the sun on a lounger, or dining al fresco with family and friends.

Journey further up the hill to easy, breezy and ever-so-pretty Tredfall and you will come across another fabulous three-bedroom home ideal for families. This property has the added advantage of all rooms under one roof – an ideal arrangement for those with young children for whom the popular pod-style home does not particularly suit. Open plan living and dining, and a kitchen fully equipped with modern appliances are complimented by large wraparound decks boasting breathtaking views of the ocean, neighbouring islands, Nanny Cay, and the Racetrack. The cooling island breezes in this part of Tortola are an exceptionally strong selling point and enhance your comfort and contentment year-round. Pets? No problem. The home is gated and secure for your four-legged family members. The property is also conveniently equipped with a generator – often a deal-breaker when it comes to choosing somewhere to call home!

Added bonus: Havers and Tredfall are well-established residential neighbourhoods with super central locations, making for convenient commutes to town and both east and west ends of the island.

Go Bespoke: Buy and Build

If personalised is your preference and you’re not in too much of a hurry in inhabit, investing in an undeveloped homesite is the first thrilling step to creating a truly customized home that fits your unique lifestyle without compromise. BVI law states that you are required to start construction within three years of closing on your land, which gives you ample time to work with carefully chosen creative professionals to bring to life exactly what you want, down to the very last detail. Red Coral has a fabulous range of diverse homesites on offer, ranging in price from $110,000.00 to $500,000.00.

 

Just like anywhere, Tortola’s neighbourhoods can vary dramatically in terms of topography, temperature, character, community, and overall feel. Whether you want to be high up in the cool, verdant hills of Greenbanks, east-facing to the dawn at the recently launched Lloyd’s Residential Estate, orientated west to the setting sun in well-established Belmont or Long Bay Beach, sitting pretty on the protected North Shore in sought-after Trunk Bay where you can wave watch from your deck, or centrally located in lively Cane Garden Bay with restaurants, entertainment, and nightlife right at your fingertips, Red Coral has the perfect plot to set the scene for the home of your dreams.

 

Added bonus: Investing in carefully chosen land in the BVI is always a solid investment. Buying to build is truly not as daunting as it can seem, and with a trusted team to guide you through the experience, the journey can be as rewarding as the final product.

Let’s get the show on the road.  Call to arrange a viewing or to get more information about these listings or the market more generally.  Phone on 1 284 344 1661 or drop us an email on info@redcoralbvi.com

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