Buying Property Familiarity
First off, we’re a U.S. territory, which means we enjoy the protection of the U.S. flag, court system and the convenience of U.S. currency. The language is English, but the rich cultural history of the territory is also reflected in dialects and patois. Three Islands – Technically Four The U.S. Virgin Islands consists of St. Thomas, St. John and St. Croix. Water Island, a small cay (pronounced “key”) abutting downtown Charlotte Amalie on St. Thomas, recently earned status as the “fourth” Virgin, and is home to dozens of families who ferry back ‘n forth and enjoy extraordinary views and privacy.  St. Thomas is the most cosmopolitan of the Virgin Islands. Its port city, Charlotte Amalie, is the territory’s capital and the most visited port in the Caribbean. Enjoy day-sailing excursions, deep sea walking, playing with sea lions and golf as well as nightlife and extraordinary dining within the shorelines of this 31 square-mile island, with a population of approximately 51,000.
- St. Croix, with its 60,000 residents within an 82 square-mile island, has a distinctly laid-back feel. Historic buildings with pastel colors add an old-world flare to the streets and alleyways of its major towns, Christiansted and Frederiksted. A much flatter island than its jagged cousins St. Thomas and St. John, St. Croix boasts three golf courses, eighteenth-century sugar mills and horseback riding on the beach!
- St. John is dedicated largely to national park. Two-thirds of this 19 square-mile island is preserved by the federal government. The rest features world class beaches, quaint shopping villages and homes ranging from modest to magnificent.
Purchasing Real Estate Almost all loans originate from the Virgin Islands, otherwise you’ll need to come up with mainland collateral. The property you’re purchasing here won’t suffice. We have a selection of banks and commercial lending institutions to shop in order to secure the best rate and terms for your needs. We also have several mortgage brokerage companies in the Virgin Islands, providing an increased competitive advantage for buyers. The process is very similar to purchasing real estate in the States. However, buyers are typically asked to provide up to 10% down within a couple weeks of an executed contract, which is held in escrow until closing and is credited toward the purchase. There are home inspectors who are intimately familiar with concrete construction and cistern issues. They will be your best friend, as you determine the condition of the home or property you are purchasing. You’ll want to find a real estate attorney to help you with the transaction. Wind insurance is a vital component of purchasing a home in the islands, and you can shop for rates through local companies, as well as through AARP, if you’ve hit the golden age and belong to that retirement organization.
Living Here It’s Warm! If this is a new phenomenon for you, know that you’re bound to adjust! Air conditioning is not a given. Some homes have it, others don’t. Most have ceiling fans. But split units as opposed to window units are the most economical, and some houses offer central air. Since a great deal of the living here is outdoor living, and often different rooms in a home are accessed through patio walkways, there’s a tendency to leave the doors open and float in and out. The breeze can be wonderful! Schools When they're not jumping off boats into turquoise waters, hopefully they're in school. In addition to the public school system, children attend an assortment of independent and parochial schools. Here are some possibilities:  STT:· Sts. Peter & Paul Catholic School: pre-k – 12: www.spps.vi STJ: STX: Doctors, Hairdressers – The Essentials! Both St. Thomas and St. Croix enjoy the presence of a significant hospital, including comprehensive cardiac and cancer services spread between the two. A clinic, which operates as a division of the St. Thomas hospital, is in full service on St. John. (See links below.) Residents of all islands enjoy a selection of medical practices, whose physicians range from pediatricians to gynecologists to internists. Leaving behind that sacred hairdresser? You’ll find one here – along with services ranging from microdermabrasion to Botox to plain old wonderful spa treatments. This is paradise, afterall. I will gladly steer you to some wonderful salons and individuals who can pick up where your relocation left off. |