A Smart Investment in Turks and Caicos - Your Home in Paradise

Posted by Amos Fred on January 15th, 2019

Buying an investment property can diversify your portfolio and give you stellar returns. Before you dive in, though, you’ll need to make sure you go with the right purchase. If you’re checking out property markets, here’s why you may want to take a long and considering look at the treasure islands, also known as the Turks and Caicos Islands.

Killer views

If you’re looking for the perfect vacation house that you want to flip and sell later, then homes on this island are perfect. You only need to look out the window to see the killer views. The proximity to bluer than blue waters is a big draw for many buyers and you probably won’t be immune to those views too once you get a good look at the waters that surround this Caribbean paradise. You’ll definitely want to check out waterfront real estate in Turks and Caicos.

Buying laws

Nearly 80 percent of property buyers come from the United States, the New York Times says, though more and more are coming from Canada and the UK as well. One of the many reasons they love the investment properties on the island are because of the island’s buying laws. In some countries, foreign buyers who want to own a piece of real estate in the county will need to go through hoops and often have to live with ownership restrictions. Frankly, many of these restrictions are so limiting that it reduces the appeal of ownership. In the Treasure Islands, though, there aren’t any laws that prohibit or restrict foreign buyers.

If you want to own property on the island, you won’t need to shell out more taxes than buyers who are native to the island. You won’t have to worry about restrictions and ownership expiry dates and deadlines or work through complicated stipulations. That makes the island the perfect spot for the investment property you want.

Taxes

Buyers often worry about paying for taxes when purchasing a property. But buying property on the Treasure Islands means you won’t need to concern yourself with property tax, income tax or any other kind of tax, The Globe and Mail says. There is still the one-time stamp duty that you need to pay for, though, but that’s going to be considerably less than what you would have paid for if taxes had been part of the equation. That certainly feels like you’ve gotten the best value for your money. If you’re thinking about where to head off for investment property opportunities, you may want to put real estate in Turks and Caicos on the top of your list.

Buying advice

Save yourself the time and trouble by hiring the services of a competent real estate firm in the area. They can help you find the perfect property and guide you through the process. However, it’s still important that you read up and know as much as you can about the buying process and the island, to get a sense of what you’re buying and what you’ll be in for.

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Amos Fred

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Amos Fred
Joined: April 24th, 2018
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