As a Bahamian buyer, you may have unique concerns and opportunities when it comes to purchasing property. Here’s a guide to help you make informed decisions.

1. Are there homes in the Bahamas under $300,000.00?

• Yes, there are plenty of options available! From condos in Nassau to family homes in Grand Bahama or fixer-uppers in Abaco, you’ll find great properties within this price range. Whether you’re a first-time buyer or looking for a second home, there’s something for everyone.

2. What financing options are available for Bahamians?

Bahamian buyers have access to excellent financing options, such as:

• Low down payments, often starting at 5%-10%.
• Mortgage programmes tailored for first-time buyers.
• Special plans for civil servants or government employees.

It’s a good idea to meet with your bank to explore the best fit for your needs.

3. How much will I need for a deposit?

• Most banks require a deposit of 5%-10% of the property’s value.
• For a $300,000.00 home, that means a deposit of $15,000-$30,000.
• If you qualify for special programmes, the deposit could be even lower.

4. Are there benefits for Bahamian buyers?

Yes, Bahamians often qualify for:

• Reduced stamp duty for first-time buyers.
• Lower property taxes on certain homes.

These benefits can make a significant difference, so be sure to ask about them during the buying process.

5. What type of homes are best for Bahamian families?

• Single-family homes in safe, friendly communities are always a great choice. They usually offer spacious yards and are close to schools, shops, and parks.
• Townhouses or condos can also work well for smaller families or those who prefer low-maintenance living.

6. Can I buy a fixer-upper and renovate it?

• Absolutely! Buying a fixer-upper is a smart way to get more for your money.
• You can customise the property to your liking and increase its value over time.
• If you’re handy or enjoy home improvement, this can be an excellent option.

7. Are there extra costs I should plan for?

In addition to the price of the home, you’ll need to budget for:

• Stamp duty: Usually 5% of the property’s value, split between buyer and seller.
• Legal fees: About 2%-3% to cover title searches and other legal work.
• Insurance and maintenance: Especially important for beachfront properties or older homes.

Planning for these costs ensures there are no surprises during the buying process.

8. Can I rent out my home to earn extra income?

• Yes, many Bahamian homeowners turn their properties into income-generating investments. You can rent your home to tourists as a vacation property or lease it to long-term tenants.
• With strong demand in the rental market, this can be a great way to maximise your investment.

9. What’s the buying process like?

Here’s a simple breakdown:

1. Find a property: I’ll help you search for homes that meet your needs and budget.
2. Secure financing: We’ll work with your bank to get pre-approved for a mortgage.
3. Inspect the home: A thorough inspection ensures the property is a good fit.
4. Finalise the sale: A Bahamian lawyer will handle all the legal details.

My job is to make sure everything goes smoothly from start to finish.

10. Can I own more than one property in the Bahamas?

• Yes, you can own multiple properties. Whether you’re investing in rental homes, buying land to develop, or securing a second residence, real estate is a fantastic way to build wealth.

Ready to Start Your Journey?

Buying a home is a big step, but it doesn’t have to be overwhelming. I’m here to guide you through every stage, from exploring listings to finalising the purchase. Whether you’re looking for your first home, an investment property, or a quiet place to retire, we’ll find the perfect match together.

Contact me today to take the first step toward owning your dream home in the Bahamas.