Bahamas
What do I need to know when buying property in Bahamas?
When we asked expats what advice they would give a foreigner before buying a property in Bahamas, they said...
"When purchasing property in the Bahamas it is important to seek legal advice from a real estate attorney or lawyer who is familiar with the laws and regulations in the country. It is also important to be familiar with the zoning regulations in the particular area which you are interested in purchasing as certain locations may be restricted for use for certain activities. You should also be sure to obtain all necessary approvals from local authorities before making any commitment to purchase a property. It is also important to obtain a proper survey of the property before entering into a contract. You will want to be sure to obtain title insurance to protect your investment. Additionally, it is important to be aware of any income, capital gains and other taxes that may apply when purchasing a property. Finally, you should familiarize yourself with the market prices in the area in order to avoid paying an inflated amount for the property," explained one expat living in Bahamas.
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SJB GlobalSJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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"Above all I suggest renting when you first arrive and take the time to learn the island and make contacts before buying into anything. You will discover that some areas are much more desirable than others. The maintenance cost can also be drastically different depending on where you are located, remember that Nassau is subject to hurricanes and hurricane insurance is quite expensive," said another expat in Nassau, Bahamas.
Other Questions:
- What should I pack when moving to Bahamas?
- Where should I setup a bank account in Bahamas?
- Will I be able to find a job in Bahamas?
- What is life like in Bahamas?
- What do expats in Bahamas appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Bahamas?
- Is there a lot of diversity? Are people in Bahamas accepting of differences?
- What are the schools in Bahamas like?
- What are healthcare services like in Bahamas?
- What are medical services in Bahamas like?
- Are healthcare and health insurance expensive in Bahamas?
- What are emergency services like in Bahamas?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Bahamas?
- How are local medical facilities in Bahamas?
- As a foreigner living in Bahamas, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
What do I need to know when buying property in Bahamas?
If you live in Bahamas, newcomers to Bahamas would love to hear your answer to this question:
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
