November 11, 2007—Nassau, Bahamas— This is the time of year when many people are in the market to purchase a second home.

Rachel Pinder, president of Nassau’s Island Living Real Estate and a real estate agent in the Bahamas, has some advice for buyers considering purchasing a second home in the Bahamas.

“There are many factors to keep in mind when purchasing a second home,” Pinder said. “First, it’s wise to find a real estate professional you can trust.”
A good Realtor should be able to educate a home buyer on various legal requirements and financial details.
Next, it is important to make sure you like the area before you make a purchase, Pinder said.

If you’ve recently vacationed in the Bahamas and suddenly think you want to purchase there, you might regret that decision later, she said. But an enjoyable vacation could warrant a second or third trip to the area to gather more information and get a true feel for the area where you’re considering a purchase.

“When making a subsequent visit, really look at the area as your future home away from home; as an investment,” Pinder said. “Don’t think of the area as though you’re just here on vacation.”

Renting before buying is a great way to test the waters. This will offer great insight on all the amenities on which the locals are well-versed, such as transportation, shopping and other necessities. If possible, you should visit for several weeks or months to ensure you are making the right decision once you purchase.

“Don’t always visit during the ‘season,’” Pinder said. “An area can look great in the winter, but can be very different out of season.”

Location is an important factor for other reasons. A second home is a vacation destination for most homeowners, so it should be near the recreational and leisure activities you enjoy. Some experts say that if the second home is more than a several hour drive or flight away, the homeowner likely won’t use the property enough to make purchasing it worth while.
Other tips that can make purchasing a second home in the Bahamas a smooth transaction include:

•    Check Web sites of Bahamian organizations, such as Chambers of Commerce and government entities, and subscribe to a Bahamian newspaper. This will help you learn more about the area and gain “local” knowledge.
•    Locate a reputable attorney to assist in your transaction.
•    Open a bank account in the area where you plan to purchase.
•    Talk to others who have purchased second homes in the area, if possible. Your Realtor may be able to help you locate these home buyers. They can offer valuable information from an insider’s perspective.
•    Shop around for the best deal on a second home loan.
•    Speak to a tax professional to determine what taxes a second home will bring with it.

If you would like additional information on purchasing a second home in the Bahamas, or you would like to learn more about the services offered by Island Living Real Estate, please visit their Web site: www.islandlivingrealestate.com.

About Island Living Real Estate
Rachel Pinder who is a Bahamas realtor is the principle broker of Island Living Real Estate. Along with her team of brokers, Hazel Wicky, Brenda Knowles and Anthony Wells, the company has more than 25 years of experience in real estate sales and development throughout the Bahamas.
Island Living has Realtors available to assist buyers and sellers with all their real estate needs.

Island Living’s main office is located in one of Nassau’s oldest historic buildings on Bay Street, named “Red Roofs.” Red Roofs was built in 1896 and has been home to various families, a Gourmet Deli and now Island Living.

Island Living Real Estate- bringing the life of the islands to your front door!

© 2007 Sinai Marketing and Island Living Real Estate. Authorization to post is granted, with the stipulation that Sinai Marketing is credited as sole source. Linking to other sites from this article is strictly prohibited, with the exception of herein imbedded links.
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