You may think that owning island property in the Latin tropics isn’t possible within the budget you’ve set for your expat home abroad.
Prepare to be pleasantly surprised.
It’s true that, due to its high demand, island property may tend to run a little on the pricey side. (After all, there is only a finite amount of it available.) But, depending on the level of development and the number of amenities you’re seeking, it’s entirely possible to find remote real estate to fit any budget.
In fact, check out these 10 places you can own an island, or at least a nice-sized chunk of one, for $500,000 or less.
Alligator Caye, Belize: $99,000
Just reduced from $169,000, this property includes 10.7 acres on the southern end of Alligator Caye. It’s off the coast of Belize, slightly north of the town of Dangriga. The Belize Barrier Reef, the second largest in the world, lies just a few hundred yards in front of the property.
It can be reached by boat in 30 minutes from Dangriga or just 45 minutes from Belize City. A lagoon on the back of the island, to which the property has access, offers sheltered boat mooring.
This completely undeveloped island is a blank canvas in a popular area near the country’s largest tourist attraction, the reef. The area has been designated as a World Heritage Site due to its ecological importance. It’s also a great spot for fishing.
Boca Chica, Panama: $199,000 – $449,000
Video of a Glass House for Sale on Boca Chica Island
Boca Chica Island is a gem of a destination located just off Panama’s Pacific Coast in the Gulf of Chiriqui. Surrounded by over 50 mostly uninhabited islands, as well as some of the world’s best sport fishing, it’s currently one of the hottest places in the country to buy property. And it’s our only island project.
This is due largely in part to the newly expanded international airport in David, a number of other large infrastructure projects, and some really incredible scenery. It’s a beautiful place to call home, and it’s an even better place to invest in real estate.
There aren’t a ton of lots still available in the island’s Adventure Colony development, but what’s left is still a great bargain. You can get three acres full of old growth coconut trees, with a level spot that’s already been cleared for a home site, for only $199,000. It sits at the corner of a sandy beach and offers access to a private dock, as well as its own fresh water well.
Also on the island is a contemporary home with three bedrooms and two baths that comes complete with a fully modern kitchen, a solar power system, premium finishes, custom furniture, and air conditioning throughout. Its private dock is right in front of the home, which sits on .75 acres.
It also has a freshwater spring, a large storage bodega, and mature fruit trees. There’s even a caretaker who can continue to provide service to the property if you so choose. All this can be yours for only $449,000.
Belize Tropical Caye
South Saddle Caye, Belize: $300,000
Located off the southern tip of larger Saddle Caye, this island property offers a whopping 2.3 acres, making it a steal of a deal. The island has tons of coral along its southern and eastern shore lines.
On the eastern side, there’s a steep drop-off to over 50 feet, making it great for snorkeling. The western side has a shallow entrance that slopes quite gradually and is perfect for swimming in the beautiful water that’s characteristic of the area.
The western shore also has a great sandy area that would make a great beach after a bit of much-needed clearing. There are large black mangroves in many spots across the island, indicating a solid footing for building.
View from Cay, Satanoid
Secret Island, Belize: $350,000
Located just seven miles off the coast of Belize, Secret Island is a Caribbean getaway that offers loads of potential. At 2.5 acres, it offers plenty of room to build a few houses. There’s also a great beach and a deep cove to allow for a dock.
You would likely need to sand fill the island, in order to have a solid base for construction. Since it’s close to the mainland (roughly a 20-minute boat ride), the transport of building materials would be relatively simple.
The island’s landscape is remarkable with red and black mangroves surrounding it. The water is shallow, only knee deep at 30 yards out in some places. The island offers views of the mainland, as well as several other islands that are within a mile away, and the entire area is a UNESCO World Heritage Site.
Island in Lake Nicaragua, Kristian Golding
Granada, Nicaragua: $350,000
This small island is located in Lake Nicaragua, the largest freshwater lake in Central America. At just under a quarter of an acre, it has just enough space to hold a large three-bedroom, four-bath home and gardens with mature coconut trees.
The home has several terraces and a system for heating water from the fresh water well. There’s also a caretaker already on staff. The home is just five minutes from the nearest dock and 45 minutes from the capital of Managua.
Turneffe Point Caye, Serge Melki
Turneffe Point Caye, Belize: $350,000
With a whole acre to develop as you choose, this island on the north tip of Turneffe Atoll is a real bargain. It’s protected by the Belize Barrier Reef, which lies just 500 yards away. As a result, the water around the island is calm, even on the windiest of Caribbean days.
For access, the island is 28 miles away from Belize City, making it the perfect secluded destination. In addition to exploring the reef, it’s also a great spot to enjoy flats fishing.
Isla Paloma
Isla Paloma, Panama: $400,000
This .25 acre island is located in the peaceful Isla Paloma off Panama’s Caribbean coast, near Bocas del Toro. It has a white sand beach and too many varieties of fruit trees to name. It’s surrounded by a shallow lagoon and mangroves that help protect the island from erosion.
There’s little tide fluctuation and no history of hurricanes in this area. The island enjoys a mild tropical climate (averaging around 80 degrees). It’s also fully self-powered with its own water source, allowing for the possibility of year-round living or use as an income property.
The home itself has two bedrooms and one bath, plus a loft space. It’s fully furnished and includes all kitchen equipment, electronics, linens, and decor. Outside there’s a beautiful garden, party shack, and swim dock for entertaining.
The boathouse has five boat slips (two covered) and includes a 26′ panga style boat with an 85 hp Yamaha engine. There are also water sport toys and equipment, such as skiis, snorkel gear, ropes, life jackets, and a canoe. The separate workshop also comes with all the hand and power tools you’ll need to keep up the property.
Supplies can be obtained from the local town of Loma Partida, which has groceries, hardware stores, restaurants, and some activities. The nearest regional airport is 25 minutes away.
Roatan, Honduras: $469,000
Located on the popular island of Roatan, this property includes a well-constructed two-bedroom home, plus a separate apartment, that’s the perfect place to launch your very own sport fishing or aquatic excursion company. In fact, the current owners have already laid all the groundwork for a successful tourism operation.
The home includes high end finishes and an updated kitchen with modern appliances. There are two more bedrooms in the lower level apartment that has its own private entrance and patio.
As if this weren’t enough, the home also includes a tricked out boathouse, complete with a full kitchen and barbecue area, four private docks, and plenty of areas for lounging. There are two boat lifts, an overhead deck, and tons of storage.
If a tourism business is in your plans, the owners have their successful charter business for sale. Other income options include rental of one of several boat slips or of the downstairs apartment. The possibilities with this property are literally endless.
Bocas del Toro, Jacob Kirkland
Isle of Navarro, Panama: $500,000
This island is located out from Dolphin Bay near beautiful Bocas del Toro. In addition to the generous nine acres of dry island, there’s also a 2800 square foot house that’s built out over the water in the popular style of the area. There’s also a separate residence that can be used for guests or a caretaker.
The island is covered in lush vegetation, which includes pineapple plants, coconut palms, orchids, and banana and papaya trees. It also comes with a 26′ boat with 40 hp motor as well as two generators for power.
Among its other amenities include the island’s proximity (only five minutes by boat) from Bocas del Toro, the country’s top tourist destination.
Nicaragua Island, Steve Summers
Pink Pearl Island, Nicaragua: $500,000
One of the Pearl Cays, this two acre island is only three miles off Nicaragua’s Caribbean coast. Although it could also work as a private personal retreat, the property is currently being used as a tourist business, making it the perfect turnkey property for the entrepreneurial expat.
The options are endless, as the area is great for both sport fishing and scuba diving. It’s a beautiful piece of property with turquoise waters and white sand beaches. It’s protected by the surrounding reefs and other islands and covered in lush flora and fauna.
Structures on the island include three cabanas, each with two double beds and a private bath, an eight-person bunk house with shower room, and a circular main house with a downstairs kitchen and living area and an upstairs master suite with a balcony that offers 360 degree views of the island. There’s also a restaurant/bar with bamboo tables and chairs and a workers’ cabin with kitchen and bedroom space.
The island is easily accessible by boat, but you can also charter a helicopter from Managua or the nearby Bluefields or Corn Islands. There’s a pier on the front of the island, and the purchase includes a 25′, 150 hp speedboat, “The Black Pearl.”
Other features include a heart-shaped swimming pool and a small bamboo beach shower. The property is powered by a 5500-watt generator and is wired for cable and phone service.
So, don’t give upon your dream of owning an island just yet. Check out our island real estate listings to see what’s available, or ask us how we can help.
Viva Tropical Radio
Surfing is a perplexing sport when it comes to training. For that matter, how do you train any sport which takes place on an unstable water surface?
If you are lucky enough to live near the waves, great, go surfing. But surfing is a unique sport. You are riding on a moving surface, and no two rides are exactly alike. How do you replicate these conditions on land for a quality training session?
Well hopefully Anthony Sasso, creator of the exercise program Fit2shred, can help!
In this episode, we discuss:
- What can you do to get better at surfing when can’t get to the waves
- Moves specific to surf training
- Why you need to replicate riding a wave for the best results
And much more.
Listen to the show
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- Click here to subscribe via iTunes
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- Click here for the show archive
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The Show Notes
Over 20 years ago, one of the biggest drug deals in history was about to go down, but there was a problem, the cops knew too much… Ex-smuggler and author Brian O’Dea joins the show to discuss the details of the deal and how he got away with it – at least for the moment.
This interview sounds like the script from Blow and has all the elements from danger to adrenalin. Join the show and hear how one man crashed planes, escaped the law, made millions and survived to tell the tale. This is just one of the many stories from Brian’s book High: Confessions of an International Drug Smuggler.
In this episode, we discuss:
- How Brian started with $500 and rolled it into $150,000,000
- Learn from the inside how Brian created a strategy to bring the contraband into the U.S.
- And how he was able to foil the authorities in this cloak and dagger story
And much more.
Listen to the show
You can listen to the show using the player above or grab it and listen on the go via one of the following options:
- Click here to download the mp3
- Click here to subscribe via iTunes
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- Click here for the Gallivanting show archive
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The Show Notes
- Where to buy Brian’s book
- Brian’s website
- Article about Brian O’Dea “How I pulled off a $300 million drug deal”
Viva Tropical Radio
Esteban Pereira joins the show to discuss Biodynamic farming. He explains what in the world Biodynamic farming means and how anyone can get started today.
The practice originated from talks by Ruldolf Steiner, who was also the creator of Waldorf Schools. Biodynamics was also the concept that eventually led to our current Organic Standards as it is an all-encompassing system that is as incredible as it is diverse.
If you ever think about growing your own food and living off the land then this show is a great one for you.
In this episode, you will learn:
- That biodynamic farming is much more than how to grow things
- Where the practice came from
- How it can be used to solve coffee fungus that is currently destroying Central American crops
- Why people who do it are changed forever
And much more.
Listen to the show
You can listen to the show using the player above or grab it and listen on the go via one of the following options:
- Click here to download the mp3
- Click here to subscribe via iTunes
- Click here for the RSS feed (non iTunes)
- Click here for the show archive
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The Show Notes
- Contact Esteban email: [email protected]
- Facebook page
Viva Tropical Radio
Frank Ahearn, disappearing expert and “Digital Hitman” joins the show to talk about privacy. He tells us how to disappear in a digital world which tracks everything. Also why you have a chance when you move overseas to create a buffer between you and internet habits.
A former Skip Tracer, his background was to find people and now he uses that experience to keep things hidden. Tune in and hear a fascinating perspective while learning to use the information to protect yourself.
In this episode, you will learn:
- How to go on the offensive and create a false trail
- How to use technology to protect yourself from predators or other unsavory types trying to get your information
- How to hide and never be found
- Why living overseas is one of the easiest ways to gain privacy quickly
And much more.
Listen to the show
You can listen to the show using the player above or grab it and listen on the go via one of the following options:
- Click here to download the mp3
- Click here to subscribe via iTunes
- Click here for the RSS feed (non iTunes)
- Click here for the show archive
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We appreciate your reaction to episodes of Viva Tropical Radio and feedback about how we’re doing. Send us your thoughts any time in an email or comment below.
The Show Notes
- Frank’s website
- Frank’s books
- Article on Frank in Wired Magazine
When planning a visit to or an excursion from your home in Central America, there are probably a lot of activities that come to mind. You could relax by the beach, visit an ancient colonial city, sail out for some great fishing or scuba diving opportunities, or a whole host of other adventures.
But for a truly one-of-a-kind experience, we recommend you give one of Central America’s many volcanoes a go. Hiking to the peak of some of these amazing natural landmarks is a great way to see the region from a whole new vantage point, get your adrenaline rushing, and build your collection of tropical expat bragging rights.
Due to its high concentration of active and dormant volcanoes, you won’t have to travel far from where you live or plan to visit in order to find a volcano to climb. Here are a few of our favorites and the features that make each of them so intriguing.
Jono Hey
Tajumulco, Guatemala
For travelers that are just starting to explore the wilder side of traveling with volcano tours, Tajumulco is a great place to start. As one of the highest mountains in Guatemala, it is a great hike. Although it is a high mountain, it is not nearly as high as many of the other volcanoes throughout Central America.
This volcano is also a great option for travelers who are wary of hiking a volcano. It has not erupted in many years, and has had the least amount of eruptions out of all of the volcanoes in Central America.
This volcano is a great place to start because it has not erupted in years, it is a lower height mountain and it is an easy hike even for beginners. The altitude adjustment is the worst part of the hike, and it will often be started overnight to ease the complications of altitude adjustment.
Hikers can even expect to take a bus up the volcano for a small part of the hike. This is a great volcano to visit for first-time volcano hikers and experienced volcano travelers alike.
Adalberto.H.Vega
Massaya, Nicaragua
If you are a traveler who wants a more unique volcanic experience, the Massaya volcano is the place to be. It is one of the only active volcanoes in Central America that is safe for visitors to view. It is not a typical volcano – it does not spew lava, but is constantly spitting out fumes from the top.
Visitors can drive to the very top of the volcano to look into the top of the volcano. The most popular place to see in is the largest of the volcanic craters. While it is a somewhat safe journey, it is still a good idea for novice volcano viewers to take someone who is more experienced. There are various tour services that help people get the most out of their Massaya experience.
One thing to note when it comes to the Massaya volcano is that it may not be what visitors have expected. When people picture a volcano, they picture a cone shaped mountain figure. The Massaya is not cone shaped, but has a flat top to it. It is more of a mound than a mountain.
Many visitors also expect to see molten lava in the volcano when they look in. Visitors who are expecting lava may be disappointed if they go during the daytime. Due to the fumes that are constantly rising from the volcano, lava can usually only be seen at night.
The Rohit
Arenal, Costa Rica
The national park located in Arenal has plenty to offer its visitors. With everything from ATV rides to canopy rides high above the park and tours through the relaxing hot springs, there is something for everyone. All of this is possible due to the volcano that stands above the park and is a constant reminder of why these things are there.
This volcano is an active one and was one of the only active volcanoes in Central America for many years. Due to the fact that it is an active volcano, visitors are not able to access the rim of the volcano.
While it is not possible to visit the rim of the volcano, visitors will not be disappointed with the amount of activities they can do from the base of the volcano. The park offers daily tours around the base, offers canopy rides to get a unique view of the volcano and guided tours into the geothermal springs where guests can soak after a day filled with activity.
Monty VanderBilt
Cerro Negro, Nicaragua
For the more adventurous volcano explorer, Cerro Negro offers the ultimate volcano experience. The lower elevation of this volcano, which stands right at 2,000 feet, makes it much easier to hike. Cerro Negro is also made up of volcanic sand on one side, making it the ideal volcano for volcano boarding.
This extreme sport is done through the use of a wooden board and can only be accomplished when on volcanic sand. Boarders start toward the top of the volcano and ride their volcano board down to the base of Cerro Negro. This can only be accomplished on volcanoes that have lower elevations, and on ones that do not have steep incline.
While this volcano may not be the most popular one in Nicaragua, it has a very different offering than the Massaya. It is a newer volcano that does not have quite the same history as the others in Central America – it’s only around 150 years old.
Although it is not as old as some of the others in the area, it is possibly one of the most active. Since it was discovered until the turn of the century, it erupted 20 times. It has not erupted since 1999 and is considered to be moderately safe.
Pacaya, Guatemala
Travelers that are looking for some of the best views from a volcano can greatly benefit from the Pacaya in Guatemala. It is an active volcano that hikers can enjoy. It is a taller volcano, at 8,000 feet. While the Pacaya is tall, it is a somewhat easy hike.
It will take most of the day to hike and hikers must be sure that the volcano is at a safe point when they are deciding to hike. Since it is active, there are many things that could compromise the safety of hikers. It last erupted 2 years ago, but there has not been much lava seen in between its eruptions. Choosing to visit this volcano may be for some of the most daring hikers, but it is sure to give some of the best views possible.
Whether you choose one of these or any number of other volcanoes to climb in Central America, make sure your adventure is one that’s well-suited for your health and fitness level. Hire a guide where recommended, and make sure to always use common sense for the sake of your safety.
Oh, and take lots of photos! Anyone can snap a great pic of a Pacific Coast sunset while vacationing in the tropics. Not everyone can say they took that photo from 8,000 feet atop an active volcano!
Everyone who has ever dreamed about owning property has, at one point in time, dreamed of owning their own island. Who wouldn’t want to be a Richard Branson, David Copperfield, or Larry Ellison, king or queen of their own domain?
We are here to dispel the myth that you must be a billionaire or world-famous magician to own your own island, or a piece of one. You, too, can own a piece of paradise. Let’s take a look at some amazing island options, right here in Central America.
Joy Drive
Bocas del Toro, Panama
You can own a piece of Isla Popa in the Bocas del Toro island chain off the Atlantic shore of Panama. Discovered by Christopher Columbus in 1502, this chain of islands features plenty of ecotourism opportunities, including Parque Internacional Amistad, a UNESCO World Heritage Site. Whether you enjoy diving, surfing, or a beachside piña colada, Bocas del Toro has you covered.
What you can buy
A piece in Isla Popa will set you back $220,000, but that includes 9.1 hectares of land, a 30 ft. deep natural harbor, a two-story, two-bedroom wooden home, and a natural spring with swimming hole.
Gaspar Serrano
Pearl Islands, Panama
Shifting to the Pacific coast of Panama, we find the Pearl Islands. Only thirty miles off the coast of Ciudad de Panama, the most famous and most populated of these islands is Isla Contadora, which features white sand beaches, several bars and restaurants, and a great diving scene.
Want to Move to Paradise?
Think about Isla Del Rey in the Pearl Islands, which offers 130 acres of beachfront land, and can be yours for $4,500,000.
Belizian Way
Stann Creek, Belize
Located in the southeast of Belize, the Stann Creek District features many beautiful parks and reserves, including the Cockscomb Basin Wildlife Sanctuary and Victoria Peak, the second highest mountain in Belize.
Go for the Whole Island
Little Coco Caye in Belize is for sale. This is a five acre island with great diving and fishing. The offer range for your own island is between $365,000 and $395,000.
Bluefield Nicaragua
Bluefields, Nicaragua
The actual town of Bluefields is very developed, with about 50,000 English-speaking citizens within its borders. It is located about 50 minutes by air from Managua, the capital of Nicaragua.
Rustic Island Living
Go rustic in Bluefields where you can purchase a two-bedroom home with generator, septic system, and water, as well as an infinity pool, small caretaker home, cement pier and white-sand beach. This island located an hour by boat from the town of Bluefields, Nicaragua offers up a fully-developed 2.5 acres for $560,000.
Gonzlaught
Pink Pearl Island, Nicaragua
Again located off the Caribbean coast of Nicaragua, Pink Pearl Island features reefs, palm trees, and quite an impressive amount of infrastructure. It’s a great island retreat for a week, month, or as long as you like.
A Vacation Villa Like No Other
Three cabanas on the island can be used for tourism, a ‘shack’ with four bunk beds and a shower room, and a main house with one bedroom, living area, full kitchen, and wraparound balcony. There is also a bar and restaurant on the island. All of this can be yours for $500,000!
knotinvein
Diamond Caye, Honduras
Shifting to the country of Honduras, Diamond Caye is located off the western end of Utila Island, and is non-developed. Like a clean island slate where your imagination can run wild. With 1.43 acres in the Bay Islands, the reef around Diamond Caye is some of the best diving in the Caribbean,
No Rules Apply
This island is only 20 minutes from East Harbour on Utila where you can stock up on necessities and take a moment to embrace society before heading back out to paradise. This tropical dream could be yours for $650,000.
Gregorio
Isla Golfito, Costa Rica
Departing from the white-sanded coasts of the other islands we’ve covered in this article, the Island Golfito is a jungled barrier island, located right in front of the town of Golfito.
Close, Yet Far Enough Away from Civilization
Over two miles long and one mile wild, the island listing offers 34.5 acres of decidedly off-grid living, with the island hosting ‘more monkeys than humans.’ Close enough to the mainland to require only a kayak or rowboat to shore, Island Golfito would be a perfect option for those wanting to get away from it all. And, at a $130,000, the patch of land is quite a steal!
So, What Next?
I’m sure many of you are much more interested in owning a swatch of your own island now that you’ve seen some of the options available all across Central America. Where do you begin?
Start by looking at some islands for sale! And if you just aren’t ready to think about buying an island, here are a whole bunch more properties around Central America.
Viva Tropical Radio
How cool would it be to have a show that covers real estate related activities in Central America? If you like the sound of that, you will love today’s show.
Skip around Central America and hear on the ground intel, reports, and data you can use.
Today we interview three brokers from three different countries, starting in Costa Rica, then on to Roatan, Honduras, and finally Lake Atitlan, Guatemala.
We discuss what is happening in these markets, where the opportunities are, and other things like how much it costs to build. Tune in and start learning how things work in each of these unique places.
In this episode, we discuss:
- Where to get a deal in Guatemala
- How much it costs to build in Roatan, Honduras
- Palm oil farms in Costa Rica make good investments
- Is Lake Atitlan really polluted?
And much more.
Listen to the show
You can listen to the show using the player above or grab it and listen on the go via one of the following options:
- Click here to download the mp3
- Click here to subscribe via iTunes
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- Click here for the show archive
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The Show Notes
- Casey Stamps of Costa Rica Real Estate Service Southern Zone, Costa Rica Website and email [email protected]
- Steve Hasz Roatan Life Roatan, Honduras Website: Roatan Life and email [email protected]
- Armand Boissy Atitlan Solutions Atitlan, Guatemala Website: Atitlan Solutions and Email [email protected]
Andrew Henderson travels the world looking for opportunity and ways to protect his wealth. Find out why he is absolutely convinced you are insane to not keep some of your wealth in a different country.
We also talk about second passports and opening foreign bank accounts as further ways to diversify your exposure to liability. The offshore world can be complicated and vast, but all you need is a little knowledge to get started.
Tune in now and begin moving down the path before it’s too late.
In this episode, we discuss:
- Why you need to get some money offshore now.
- Why you need a second passport.
- How to get a new offshore bank account.
- Why you can’t rely on your government to protect all your wealth.
And much more.
Listen to the show
You can listen to the show using the player above or grab it and listen on the go via one of the following options:
- Click here to download the mp3
- Click here to subscribe via iTunes
- Click here for the RSS feed (non iTunes)
- Click here for the show archive
React to the Show
We appreciate your reaction to episodes of Viva Radio and feedback about how we’re doing.
Send us your thoughts any time in an email or comment below.
The Show Notes
- Who is Andrew Henderson?
- Andrew’s website Nomad Capitalist
- Vivatropical Offshore Strategy Guide
What’s your favorite part about the tropics?
Is it the warm sea breezes? Maybe the laid-back lifestyle? Maybe it’s just the idea of being in a land that offers more freedom. Or maybe getting some of your life back by having great domestic help?
Today, let’s see some Hibiscus!
First, you have to understand that these flowers are HUGE!
So it’s rainy season now and we’re getting ready to do some planting on our island and out on our Burica project. I’ve been looking for hibiscus, which there is quite a bit of here in Panama.
But I hit the mother load today!
I found a lady that has over 100 colors of hibiscus! 100 different colors!
I mean, really….100 different colors? At any rate, I snapped a few photos as I was buying them. Were planning on loading down the parcels with them so that we’ll have our own little mini “vivero” or nursery on the property.
And if you don’t know much about hibiscus (other than that there are tons of colors and the flowers get big!), then they grow tall. Like 15′ tall, tall. They are great for planting property lines.
As far as where to plant them, they don’t like overly wet areas. So don’t put them where you might have water pooling. They are also an extremely hardy plant. Josh was just mentioning to me that they are planting them in his back yard at the moment. They literally broke off some of the branches, stuck them in the ground, and left them.
Then there are some certain fertilizers that make them flower more. You can trim them or just let them go nuts, like these that you see in the photos.
They prefer sun over shade.
So what are your favorite flowers in the tropics? Even better. Why do you love the tropics?
Everyone wants their own island. It’s a scientific fact. And, studies have shown that if you own one, you are cool. The very fact that you are an owner means you join an elite group of people. We don’t want to come off as overly snobbish, but the idea is that islands are cool and so are island owners. And, more importantly, it’s not as hard as you think it is to own one.
Photo by Mor
Why Buy Your Own Private Island
There are many reasons why someone would want their own island. One type of person would want the seclusion necessary to build a secret villain lair (only kidding). But, the privacy that you receive as a result of owning a private island is unparalleled. You are the master of your domain!
Another reason to buy your own island is the fact that it may be cheaper to own than waterfront property in the States. In Central America, there are several listing sites you can check out that have affordable properties, like our listing site!
It’s not about being listed among Ellison, Gates, or Jay-Z, either. While looking at their million-dollar islands is really fun, many islands in the Caribbean can be had for less than $1,000,000.
Boris G.
What Sorts of Factors Should Play into Buying Your Own Island?
First and foremost, the most important factor is (say it with me) location, location, location. If your island is out in the middle of the Pacific, hours by private plane from anywhere, the expenses will add up. But, then again, that may be the style of island you’re looking for! For most, you’ll want an island no more than an hour away by boat from a town of importance for provisioning purposes.
The amount of privacy that your island affords you may also be important to you. For one, an island in the middle of nowhere will give you a lot of privacy. Other islands for sale, especially the more affordable ones, may be a part of a larger archipelago and be relatively close to other islands. Who knows… your neighbors might be nice!
Water
Yet another factor you’ll want to consider is water: both fresh and saltwater. Does your island have a freshwater spring? That would be very important, or you’re going to run into headaches down the line. I hear that desalination facilities are quite expensive these days!
Utilities
Other islands closer to the mainland may have utilities provided by the shore. Even more amazing, ones in tropical locations may be able to subsist on rainwater alone. It’s all about understanding the ecosystem where your island lives.
How are you going to turn the lights on? Many islands have generators, and with the rapid drop in price of solar panels, islands are becoming more and more equipped with power day-by-day. An internet connection seems necessary these days, and can be provided by satellite, though that is still costly.
You’ll also want to know about the water around your island. Is it full of reefs, making it hard to land ships? Is it good for diving?
Titles
A major issue is ownership rights of the islands. Hiring a local expert is key for this matter, as the local government may have special rules about resource ownership, beach ownership, or what improvements you may make to your new land. And, you’ll want to make sure there are no indigenous land rights issues involved, as those can play a role in the purchasing predicament.
Caretakers
Many island owners have bought these pieces of paradise to retire, and so they choose to higher a local employee to live on the island and care after it, especially if they are not living on the island full-time.
Living Quarters
Finally, and most importantly, does your island already have a house on it? Many islands come ‘unimproved,’ which means the burden is on you to construct a home, utilities, septic system, and dock. This is a major undertaking, and could skyrocket the final price of your paradise. And, if there is a house already on the island, is it up to your standards of building? Many homes may not be hurricane or weather-ready.
Cool Islands to Aspire to Buy
Everyone needs a goal in life, right? Well, if your goal is to own the largest private island, you’re in for some stiff competition. Let’s take a look at some heavy-hitter island owners.
Larry Ellison
Larry Ellison bought Lanai. Like, the Hawaiian island. Well, 98% of the island, which includes 88,000 acres of pineapple plantations and fifty miles of beaches. The price was undisclosed, but rest assured it was in the hundreds of millions, if not billions.
Richard Branson
One of the more famous private island owners, you can actually stay on Branson’s Necker Island, in the British Virgin Islands. But, it will cost you. The $293 million dollar, 74-acre island hosts celebrity getaways and weddings all the time, and you can bet the price tag matches the cache.
David Copperfield
Magic pays off, apparently. David Copperfield purchased Musha Cay in the Bahamas, which is really 11 separate islands transformed into a resort paradise. The price for landlubbers to come ashore? Just $265,000 a week.
Mel Gibson
If there’s someone that needs a private island with lots of privacy, it’s Mel Gibson. He bought an island in Fiji, Mago Island, in 2005. At 8.5 square miles, and 166 miles by sea away from the capital of Fiji, Suva, I’m guessing that he’ll have plenty there.
Louis Moore Bacon
Mr. Bacon wins the prize for buying a non-tropical island. His $11 million dollar island off the shores of New York isn’t his private paradise. He’s made it a point to restore the island to its former glory, ravaged by logging and deforestation. The island has some of the best turtle populations in New York. And, for fun, Bacon leads his friends on hunts of the invasive deer population on occasion. It’s fun, and good for the environment!
Sergio Quesada
So, you’ve seen your competition, and you’ve seen what it takes to own an island. Do you still want to own one? As mentioned above, it’s not as expensive as you think to own your own paradise. If you are still interested, definitely check out our listing page here, and see if any of the islands match your dreams.
Part of the beauty of living the expat dream is the ability to prioritize. To stop working your fingers to the bone to try and attain that “other” dream and focus on the things that really matter to you and your family.
Two of the main ways that living in Central America allows you to do that is by giving you back control of two of your most important resources. Your time and your money.
With most household budget items–such as housing, utilities, and groceries–costing considerably less than in North America, families have the ability to work less, travel more, and save or splurge in ways they never imagined before.
Robert Gourley
And in a culture that doesn’t overschedule and overprogram their days down to the millisecond, there’s plenty of free time left to focus on the things your family enjoys or simply take the time to just experience life together in your new setting.
What’s even more beautiful is when the two areas combine and that little bit of extra expendable income can be put to use to even further to free up your schedule for more of the things that really matter to your family.
VivaTropical’s Park Wilson weighs in on one of the aspects of expat life that’s had the biggest impact on he, his wife, and their four children.
“Having the ability to hire domestic help has easily been one of the biggest benefits of living in the tropics, at least for my family. We currently have a full-time housekeeper who works 6 days a week in our home. She does all of our cooking and cleaning and even helps us out with the kids. She’s an absolute godsend.”
What having domestic help looks like
For those, including Park and his family, who could never have imagined having domestic help back in the U.S., it might be a bit difficult to picture what that setup looks like. Here’s an overview of what we’re talking about.
Domestic workers can be hired to do as much or as little as you desire. You can hire a full-time maid who lives and eats with your family and handles pretty much all the household chores, such as laundry, cleaning, and more. Or you can have someone who comes in and cleans once a week and or runs your errands. There are a lot of options available.
There are also plenty of folks who work in other capacities besides just housework. You can hire drivers, tutors, handymen, and a number of other types of workers.
“In addition to our housekeeper, we also have a guy who does our gardening and someone who does our grocery shopping,” Park adds. “Being able to hire out all of these tasks frees up our time and allows us to focus on areas where we can really add value and make a difference. For instance, my wife homeschools our kids, and I’m able to work all day without ever having to worry about all those other things.”
And, while such luxuries are practically unheard of in North America (for non-millionaires, anyway), practically every middle class family in Central America has at least some form of domestic help.
“We could never afford this in the U.S. but, with the low cost of living here, cost isn’t really a concern.”
What the responsible hiring of domestic help DOESN’T look like
Even though we’ve discussed a little bit about what having full- or part-time help in the tropics might look like, it’s also worth mentioning what it doesn’t involve. Employing a domestic employee is a business transaction, and it’s your responsibility to be a respectable employer.
It’s not about being a lazy bum and having someone to bring you drinks with little umbrellas, do your bidding, and indulge your every whim. Nor is it in any way a means of taking advantage of cheap labor costs and exploiting hard-working locals.
While the laws vary from one country to the next, there are rules governing how domestic employees are to be treated, the number of hours they can work and when those fall, and what vacation time and other benefits they’re entitled to. You had best become familiar with them and abide by them.
Mistreating or undervaluing your help will quickly earn you the reputation of someone no one wants to work for, and pretty soon you won’t be able to find a single person who’s willing to fill a position in your household.
Instead, hiring domestic help is merely a way of delegating a lot of the time-sucking, mundane tasks you already hate anyway, many of which might even be doubly hard in a developing country with unfamiliar customs and unreliable services and utilities, and being able to focus on the more important things.
Hiring domestic help is mutually beneficial
Responsibly hiring full- or part-time help is also a great way of contributing to the community by providing employment in a field where jobs can be scarce. Domestic workers often make up a large percentage of the workforce in a given area. And turnover can be high.
“You’re basically offering a job that’s as good as any other that is available out there, and by being a great boss and treating your employees with the same respect you want for yourself, you have an opportunity to improve their quality of life as well as your own,” Park explains.
In many cases, domestic workers can even become more like part of the family and not merely employees. “Our previous housekeeper was with us for 5 years. She’s still like another grandmother to our children and someone we value greatly as a friend.”
Kristin & Jordan Hayman
How affordable is domestic help?
The cost of course varies from one area to the next and also depends on the specifics of your particular arrangements. But here are a few examples of the incredibly inexpensive cost of domestic help in the tropics.
In Panama, where Park and his family live, the cost for a full-time maid runs between $250-$350 per month. If you provide them with room and board, then those are additional expenses on top of their base salary.
Domestic help in Belize runs around the same, $350 per month. A maid is a bit more expensive in Costa Rica, but still a great bargain at under $15 per day.
In affordable Nicaragua, the minimum wage for a full-time maid or groundskeeper is $.70 per hour, which comes out to be about $135 per month. And that’s for a 48-hour, 6-day work week.
Domestic help can also be had for a considerable deal in Guatemala, where you can hire a full-time maid for about $150 per month. Maid services in Ecuador range between $200 per month for part-time help (3-4 hours per day) and $250 for full-time (8-hour work days).
So, when you’re considering all the potential advantages your family could enjoy by living overseas as expats, don’t forget to add affordable domestic help to your “pro” column. With such beneficial services available at such a reasonable cost, it’s one of the best ways to add value to your life overseas.