Caribbean Islands Forums

Start a new topic Change Forum
Advanced search

Dual citizen thinking about buying a vacation rental in Jamaica

Hello. I am a dual citizen (Jamaican/American) living in the US, and I am thinking about buying a property in Jamaica, primarily as a vacation rental. I originally became interested, because every time I try to go visit, every decent rental home is booked months in advance, and for a princely sum, so I wind up staying at a hotel or with family. I typically only get to spend about 14 days/yr in Jamaica, so I would bd relying on locals to take care of property management and housekeeping (though, depending on the location, my sister's helper could do the housekeeping, and she does a fantastic job at a fair rate).

I am not an American with some rosy dream of owning a beachside villa for $50,000 and sipping daiquiris under an umbrella- I know about the price of real estate, the dreadfully slow pace of permits and improvements, the cost of building materials, the patience required if I ever want to sell the property, and the high interest rates on the island. However, the numbers still look attractive when I run them, especially when I consider that I will have a place to call home when I go down there.

So please, talk me out of this.

And for reference, I am looking at properties in the $750k-1 mil range, near MoBay or Ochie. Perhaps that's not even enough to buy a place that would appeal to visitors? If it needs some improvements, I have carpenters in the family, and I also have family who own buses, so transportation for renters to/from the airport would be easy to arrange.

No Replies |Back to top

| Add a Reply

Sign in to comment.

Recent Activity

View all Caribbean Islands activity »
  1. 1 Which Island?
  2. 2 Carribean vacation with infant
  3. 3 Any sharks around US Virgin Islands ?
  4. 4 Trip Report TOP 5 MUST-DO LIST FOR GRAND CAYMAN VACATION
  5. 5 A nice hotel to stay in St Martin for one night ?
  6. 6 Buccament Bay in Kingston, St. Vincent and Grenadines
  7. 7 Cayman Islands in October
  8. 8 Where to spend a month or two this winter
  9. 9 things to do in Nassau
  10. 10 August 2015 Honeymoon Trip Ideas
  11. 11 Trip Report I got robbed in St Maarten - St Martin on the French side
  12. 12 St. John USVI
  13. 13 Puerto Rico - January 13 - 21 - Itinerary
  14. 14 Best resorts for families with 3 small kids
  15. 15 Destination Wedding Planning: DR, Jamaica, Virgin Islands, or Barbados
  16. 16 Best island for early to mid November
  17. 17 snorkle choices in Antigua
  18. 18 Please help me decide to go to Cuba!
  19. 19 Planning possible retirement in USVI
  20. 20 Divi Little Bay versus Holland House Beach Resort, St. Martin
  21. 21 Mexico vs Cuba vs Bali
  22. 22 Best resort to go with adult children not Mexico
  23. 23 planning a long weekend for Feb/March
  24. 24 Trip Report Lobster, Heat & Banged Up Feet - Another Awesome Exumas Adventure
  25. 25 tourist opinion for trips to the Bahamas
View next 25 » Back to the top