Buy an Island and Be Legendary
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.
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.
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!
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.
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