Home Sweet Home

While many people have unfortunately been affected by the global economic crisis, for others, this couldn't be a more opportune time to buy a Bahamas home.

If you have a solid income and job security, there are some very compelling reasons why you should invest in a home sooner rather than later.

• Real estate prices in New Providence are far more realistic than they were a few years ago. Based on supply and demand on the island, I don't see prices dropping further, certainly not to any significant degree, provided the homes are properly priced in the first place. There are some excellent buys in some of the Family Islands at the moment.

• Bank mortgage rates in the Bahamas have fallen from their peaks.

• You'll save on taxes. The stamp tax on homes valued at over $250,000 has fallen from 12 to 10%.

If you're a first time home buyer in the Bahamas, you can apply for a tax exemption on homes valued under $500,000.

• You'll stop throwing away money on rent and start building equity in your home when you pay to reduce the principal instead of paying rent to a landlord.

• Sooner or later, prices will start rising again – so will mortgages.
• Bahamas real estate is still, in our opinion, the best long term investment you can make.

• It will be your own sweet home – yours to paint in the colours you wish, renovate as you please or add on to. No more Landlord restrictions.

* Your leading Bahamas real estate source.