10 Affordable Caribbean Islands Where You Can Own A Vacation Home
Table of Contents
Thinking about owning a Caribbean vacation home? There are a definitely lot of things to consider when planning to invest in a home away from home. Certainly, making this big step can seem impossible, but there are quite a few countries where it’s affordable to own a vacation home.
Just like there are many states and even entire countries where it’s possible to buy a vacation home for a lower cost, there are also numerous affordable islands to buy a vacation home in the Caribbean. So, grab that vision board; it’s time to explore some of the most affordable Caribbean islands to purchase a vacation home and create a dream place in paradise.
10 Barbados
View from above at Crane Beach, Barbados featuring blue umbrellas, white sand and the ocean
Barbados, also known as the Gem of the Caribbean, is a fabulous place for a budget-friendly vacation home in the Caribbean. Buyers considering Barbados will find purchasing process pretty straightforward as there are no regulations against non-nationals owning land or property. Many non-nationals either purchase directly or via an offshore company, but it’s best to hire a real estate agent and a lawyer to assist with all the details.
Vacation home-seekers should consider Crane Bay; though a little on the pricier side, there are still affordable places to purchase should a buyer be ready (not buying directly on or near the beach is the ideal way to bag a bargain since beachfront homes in Barbados are extremely expensive).
-
Average Home Price in USD
: $67,500 – $400,000 -
Official language
: English -
Highlights
: Carlisle Bay, Bathsheba, Harrison’s Cave, Crane Beach
9 Trinidad & Tobago
Maracas Beach, Maracas Bay Village, Trinidad and Tobago
Thinking about owning a vacation home in Trinidad? It’s definitely possible. Non-residents are not restricted from purchasing residential or commercial property. That being said, there are some areas of Trinidad and Tobago that are more affordable than others.
Vacation home-seekers should consider Maracas Bay Village as a possible home away from home; not only is it surrounded by gorgeous beaches, but it’s also close to great restaurants. Consider a home on the hill as a possible option; wake up to a lovely view of the bay every day during a vacation.
-
Average Home Price in USD:
$320,000 -
Official Language:
English
8 Ambergris Caye
A beach in Ambergris Caye
Contemplating a vacation home near Belize? Consider Ambergris Caye (Isla Bonita). Not only are vacation homes on the island affordable, but there is no capital gains tax. Plus, the island has become a top spot for vacation homes in the Caribbean due to its access to amenities.
Purchasing a vacation home there means families and individuals don’t have to skip out on the basics in terms of internet, power, water, and shopping. In terms of transportation, the main options are bicycles and taxis but be prepared to see ex-pats cruising along in golf carts.
-
Average Home Price in USD:
$200,000 and $700,000 -
Official Language:
English -
Highlights:
watersports, especially snorkeling and scuba diving
San Pedro Town is the only town in Ambergris Caye.
7 Caye Caulker
Boats docked near the Rainbow Grill & Bar, Caye Caulker, Belize
Caye Caulker is a small island in Belize. Although not quite as well-known as Ambergris, the island offers vacation home-seekers great real estate opportunities. If being close to the beach is a top priority, Caye Caulker has a lot of vacation home potential.
That being said, the real estate industry isn’t exactly regulated, so in order to avoid being taken advantage of, it’s best to hire a real estate agent that has in-depth knowledge of the market.
-
Average Home Price in USD
: $280,000 -
Official Language
: English
6 Antigua
There are so many beautiful places to visit in Antigua and Barbuda, and buyers searching for a vacation home will have a lot of options to choose from though they must be in the pre-approved areas.
In terms of the cost of living, it is a little more expensive than other islands in the Caribbean, but it’s still at least 20% cheaper than the United States. Vacation home-seekers overall will find Antigua an affordable choice; plus, if buyers invest in the Antigua and Barbuda Citizenship by Investment Program, doors open start to open for citizenship.
-
Average Home Price in USD
: $255,000 to $12,000,000 (minimum purchase requirement price of $200,000) -
Official Language
: English -
Highlights
: Shirley Heights, Nelson’s Dockyard, Valley Church Beach, Betty’s Hope
5 Saint Croix
View of the beach, houses, and green mountains in Frederiksted, St. Croix
The largest of the US Virgin Islands is a wonderful place for a vacation home. Considered the most affordable of the US Virgin Islands, potential buyers will find St. Croix equipped with all the essentials for an incredible vacation home getaway.
From great opportunities for play to the basics like internet and cable, Saint Croix has an extensive list of amazing things to do and offers good amenities for those who decide to call the island their second home. Plus, because it is a US territory, purchasing property on the island is relatively straightforward for American citizens.
-
Average Home Price in USD
: $239,000 -
Official Language
: English
4 Saint Lucia
This Caribbean island might be known primarily for the St Lucia Jazz Festival and the Pitons. However, there are so many other things to do in Saint Lucia.
Buyers who select St. Lucia as their vacation home destination will not only have endless things to do during a visit but benefit from not having to pay taxes on capital gains. For an affordable vacation home with a beautiful view of the harbor, vacation home-seekers should consider Rodney Bay.
-
Average Home Price in USD
: $200,000 (at Rodney Bay) -
Official Language
: English -
Highlights
: Pitons, Diamond Falls Botanical Gardens, Pigeon Island National Park, Sulphur Springs
3 Dominican Republic
View from a balcony in Las Terrenas, Dominican Republic
Vacation home-seekers thinking about having a home in the Dominican Republic should explore the potential in Las Terrenas. Las Terrenas offers a tranquil small-town atmosphere with a little international sparkle.
Vacation home-seekers will have access to the incredible beaches but also be able to take advantage of the tax benefits and low property taxes.
2 Roatán
The town center in Roatán, Honduras
Roatán is an island in Honduras known for its great diving opportunities. It’s also one of the cheapest Caribbean islands to buy a vacation home; for second home-seekers, it offers a wide selection of options for exceptional and affordable properties.
From a beach house to a more inland home surrounded by lush landscapes, buyers won’t run out of choices. Though electricity might be a little more pricey than most may be used to in Honduras, there’s a balance, as property taxes are lower than in many countries.
-
Average Home Price in USD
: $135,000 – $175,000 -
Boat home
: under $200,000 -
Official Language
: Spanish, but English is widely used -
Highlights
: watersports, zip lines, sloth sanctuaries, and horseback riding
1 Puerto Rico
Two buildings in Guayama, Puerto Rico
Puerto Rico has no limitations on citizens of the United States regarding the acquisition of property. As such, vacation home-seekers thinking about purchasing property on the island will benefit not only from the comparably lower cost of living but the pretty straightforward property-purchase process.
For affordable real estate in Puerto Rico, consider Guayama. The city, also known as La Ciudad Bruja, has a range of budget-friendly options, from fixer-uppers to beachfront houses, that will certainly make those vacation homeownership dreams come true. Plus, being in the city means families/individuals are at the heart of all the action.
-
Average Home Price in USD
: $112,000 (in Guayama) -
Official languages
: Spanish and English -
Highlights
: sailing, beaches
