Favorite Caribbean Island - Where would you retire ?
Jan 5th, 2014, 06:35 PM
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Favorite Caribbean Island - Where would you retire ?
My husband and I want to retire in the Caribbean. We have visited a few islands, both separately, before we were married, and 2 since we started dating.
Would like to hear from the travel community which island you have visited and would be top on your list for potential retirement and why?
Jamaica is off the list. The only decent beach was side by side by side hotels.
St Lucia is on. We went there on our honeymoon last year and loved it.
My husband has been to Aruba, and loves it so it is on the list for is to visit together.
I liked Grand Cayman but housing costs are more than we want to invest in.
We are planning a trip to Grenada this spring.
We are looking for an island that has good beaches and preferably community on the southwest part of the island, we really want sunsets.
Thank you for any recommendations.
Tracy
Would like to hear from the travel community which island you have visited and would be top on your list for potential retirement and why?
Jamaica is off the list. The only decent beach was side by side by side hotels.
St Lucia is on. We went there on our honeymoon last year and loved it.
My husband has been to Aruba, and loves it so it is on the list for is to visit together.
I liked Grand Cayman but housing costs are more than we want to invest in.
We are planning a trip to Grenada this spring.
We are looking for an island that has good beaches and preferably community on the southwest part of the island, we really want sunsets.
Thank you for any recommendations.
Tracy
Jan 6th, 2014, 04:51 AM
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My wife and I have vacationed on most of the more well known Caribbean destinations.
This year we will be returning to Grenada for our 7th time since 2004. Obviously we absolutely love this island. While Grand Anse is a wonderful beach there are also others that are a little more secluded and off the 'cruise boat tours' itineraries.
The Grenadians are quite welcoming. Only once have we met and unsavoury individual. The island is quite safe and has some of the best island ventures of all the islands we have been to.
We would not hesitate to retire in Grenada.
This year we will be returning to Grenada for our 7th time since 2004. Obviously we absolutely love this island. While Grand Anse is a wonderful beach there are also others that are a little more secluded and off the 'cruise boat tours' itineraries.
The Grenadians are quite welcoming. Only once have we met and unsavoury individual. The island is quite safe and has some of the best island ventures of all the islands we have been to.
We would not hesitate to retire in Grenada.
Jan 6th, 2014, 04:59 AM
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We thought we might want to retire to a Caribbean island. Visited several. Quickly realized that ocean front living would be out of our budget.
So, we looked at the Yucatan. Found out ocean front property can't be owned by Americans. We aren't comfortable with long term leases.
We ended up buying on Ambergris Caye, Belize. Ocean front. Blue, Caribbean water. Not great beaches, but, nice enough for us. English speaking. Law system based on British common law.
We love it here, but, it's not for everyone. Much too 'third world' (I know that term isn't politically correct, but, not sure what the 'new term is) for many.
After spending the past four winters here, we also realize we don't want to live here full time. So, we'll happily continue to split our time between here and the States.
So, we looked at the Yucatan. Found out ocean front property can't be owned by Americans. We aren't comfortable with long term leases.
We ended up buying on Ambergris Caye, Belize. Ocean front. Blue, Caribbean water. Not great beaches, but, nice enough for us. English speaking. Law system based on British common law.
We love it here, but, it's not for everyone. Much too 'third world' (I know that term isn't politically correct, but, not sure what the 'new term is) for many.
After spending the past four winters here, we also realize we don't want to live here full time. So, we'll happily continue to split our time between here and the States.
Jan 6th, 2014, 11:27 AM
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The bahama out islands (Eleuthera, Abacos, Long Island, Exuma etc). We like quiet non-touristy places. The beaches are fantastic. Most islands have miles and miles of empty beaches. Water is stunning. Snorkelling is good. Very low crime rates. Beachfront is affordable. Oceanview properties are reasonably priced. Good builders can be found. No restriction on foreign property ownership. Its a relatively simple process as long as you use a reputable real estate agent and lawyer. Lots of expats.
Jan 7th, 2014, 05:22 AM
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Also, in most instances you can't just show up one day and expect to take up residence on an island as they are independent nations so make sure you fully understand and comply with the immigration requirements/laws of the island you are considering.
Living in the Caribbean is far different than being there on vacation. Most islands are small so it's like living in a small town without the ability to easily drive to the "big city" for a taste of culture. It's expensive - on average around 25% to 35% higher living costs than for comparable places in the US and Europe so it helps if you have deep pockets.
Lot's of challenges but they are not insurmountable. For starters go to www.vimovingcenter.com - it's a website dedicated to living/working in the USVI's but much of what's written there applies to many Caribbean islands. There's so much material on the site it will take weeks to read it all. There's also an active forum with 10.000's of threads covering every conceivable topic. You'll find answers to all your questions and many more questions you haven't even thought of yet.
Good luck following your dream.
Living in the Caribbean is far different than being there on vacation. Most islands are small so it's like living in a small town without the ability to easily drive to the "big city" for a taste of culture. It's expensive - on average around 25% to 35% higher living costs than for comparable places in the US and Europe so it helps if you have deep pockets.
Lot's of challenges but they are not insurmountable. For starters go to www.vimovingcenter.com - it's a website dedicated to living/working in the USVI's but much of what's written there applies to many Caribbean islands. There's so much material on the site it will take weeks to read it all. There's also an active forum with 10.000's of threads covering every conceivable topic. You'll find answers to all your questions and many more questions you haven't even thought of yet.
Good luck following your dream.
Jan 7th, 2014, 06:20 AM
#7
While it's fun to dream where you want to retire, logistics may dictate another island altogether!
I would love Anguilla, can't come close to living there.
So what you need to do if serious, is go spend a month at your choice. Live off the beach, research the laws about retiring.
You'll find some islands easier than others.
You'll also find that islands have minimums, for example, 6 months worth of money with not a single day of work (most islands require work permits, so if you run out of money you might have to leave)
Many islands offer a "residency" permit, of course for an annual fee, which they never get around to renewing on time.
Many semi-retire, which is the easiest
Some retire but have to leave island for a couple of days every 2-3 months to keep immigration happy.
Retirement in Caribbean can be fantastic, but you have to do your homework! That might also dictate where you retire too.
There used to be a terrific contributer on this forum, HowardC. He knows the islands well. He tried to retire in St. croix and it failed. If he didn't make it work, you really need to do your homework!
And start saving a lot of money before then. Old saying (more for work than retirement, but you get the idea)
What does it take to make $1 million in Caribbean?
$2 million!
I would love Anguilla, can't come close to living there.
So what you need to do if serious, is go spend a month at your choice. Live off the beach, research the laws about retiring.
You'll find some islands easier than others.
You'll also find that islands have minimums, for example, 6 months worth of money with not a single day of work (most islands require work permits, so if you run out of money you might have to leave)
Many islands offer a "residency" permit, of course for an annual fee, which they never get around to renewing on time.
Many semi-retire, which is the easiest
Some retire but have to leave island for a couple of days every 2-3 months to keep immigration happy.
Retirement in Caribbean can be fantastic, but you have to do your homework! That might also dictate where you retire too.
There used to be a terrific contributer on this forum, HowardC. He knows the islands well. He tried to retire in St. croix and it failed. If he didn't make it work, you really need to do your homework!
And start saving a lot of money before then. Old saying (more for work than retirement, but you get the idea)
What does it take to make $1 million in Caribbean?
$2 million!
Jan 7th, 2014, 09:14 AM
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Everyone wants beachfront living but as OP surmised the reality is that on many islands the "best" beachfronts are lined with hotels and resorts or with multi-million dollar villas. For the vast majority, affordable beachfront homes will come in the form of condos, not stand alone homes.
To put things in perspective, good beachfront property on an island with decent infrastructure will run a minimum of $10,000 per beachfront foot and in some cases even double or triple that so it stands to reason those owning such property will build hotels, resorts or condos that will generate a decent return on their investment or they are wealthy enough to build a mega-villa - sorry but cute little beachfront shacks in quiet fishing villages have, for the most part, gone the way of the dinosaurs.
True, you can still find some very nice beachfront property on some of the bahamas out-islands at what some might deem to be affordable but that land may by quite remote without access to electricity, telephones, or even a road.
Now, I'm not trying to dissuade anyone from retiring to the Caribbean but rather trying to say that one needs to do a lot of first hand research.
My spouse and I spent over 10 years traveling throughout the Caribbean visiting over 20 different islands before we found an island we liked that had property we liked. We read everything we could about living and building a home in the Caribbean (there's tons of info out on the internet if you just take the time to search).
Along the way we learned a few things;
1) Don't pick an island based on a one week vacation visit - stay for a month or two or even longer
2) Don't go as a tourist and don't stay at resorts - instead stay in a short term rental unit so you can see what life is really like. Do everyday chores, cooking. cleaning, laundry, shopping, etc. after all you'll be doing those same things when you live there.
3) Everything, I MEAN EVERYTHING, move on island time. That "laid back" life style you think is what makes the island a paradise can become very frustrating. When your refrigerator breaks down the repairman might not show up for two or three days (even though he told you he'll "be right over, mon!" And, when he does get there you find out you need a part which has to be flown in from Miami. Fed-Ex loves people who will pay $150 to ship a $50 part. The local Customs people will love you too because you'll pay 30% duty on everything you bring to the island.
4) Check out housing costs to see what you can get for your housing budget. If you want to build talk to builders, contractors and architects to get a feel for what's involved. Find out what building costs are on the island of your choice and how long they think it will take to reach completion. When you get those numbers add at least 50% because I can pretty much guarantee you'll be behind schedule and over budget from the moment you break ground. By the time we were finished our home took twice as long and costs more than 2.5 times the pre-construction estimates.
One last point, after doing your research make sure both parties are fully committed to making the move. I can't tell you how many couples we've seen come and go because one spouse found he/she didn't like island life.
So do your homework. For those who do, retiring to the Caribbean can be a very rewarding experience rather than a nightmare.
To put things in perspective, good beachfront property on an island with decent infrastructure will run a minimum of $10,000 per beachfront foot and in some cases even double or triple that so it stands to reason those owning such property will build hotels, resorts or condos that will generate a decent return on their investment or they are wealthy enough to build a mega-villa - sorry but cute little beachfront shacks in quiet fishing villages have, for the most part, gone the way of the dinosaurs.
True, you can still find some very nice beachfront property on some of the bahamas out-islands at what some might deem to be affordable but that land may by quite remote without access to electricity, telephones, or even a road.
Now, I'm not trying to dissuade anyone from retiring to the Caribbean but rather trying to say that one needs to do a lot of first hand research.
My spouse and I spent over 10 years traveling throughout the Caribbean visiting over 20 different islands before we found an island we liked that had property we liked. We read everything we could about living and building a home in the Caribbean (there's tons of info out on the internet if you just take the time to search).
Along the way we learned a few things;
1) Don't pick an island based on a one week vacation visit - stay for a month or two or even longer
2) Don't go as a tourist and don't stay at resorts - instead stay in a short term rental unit so you can see what life is really like. Do everyday chores, cooking. cleaning, laundry, shopping, etc. after all you'll be doing those same things when you live there.
3) Everything, I MEAN EVERYTHING, move on island time. That "laid back" life style you think is what makes the island a paradise can become very frustrating. When your refrigerator breaks down the repairman might not show up for two or three days (even though he told you he'll "be right over, mon!" And, when he does get there you find out you need a part which has to be flown in from Miami. Fed-Ex loves people who will pay $150 to ship a $50 part. The local Customs people will love you too because you'll pay 30% duty on everything you bring to the island.
4) Check out housing costs to see what you can get for your housing budget. If you want to build talk to builders, contractors and architects to get a feel for what's involved. Find out what building costs are on the island of your choice and how long they think it will take to reach completion. When you get those numbers add at least 50% because I can pretty much guarantee you'll be behind schedule and over budget from the moment you break ground. By the time we were finished our home took twice as long and costs more than 2.5 times the pre-construction estimates.
One last point, after doing your research make sure both parties are fully committed to making the move. I can't tell you how many couples we've seen come and go because one spouse found he/she didn't like island life.
So do your homework. For those who do, retiring to the Caribbean can be a very rewarding experience rather than a nightmare.
Jan 7th, 2014, 10:44 AM
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Have you considered Puerto Rico. Currently vacationing here - and we have discussed that if we had a choice of South Florida or PR to retire to, this place would win in an instant. Assuming you are US citizens, avoids all complications of visas, currency, healthcare/Medicare coverage. Most people speak adequate English.
Jan 7th, 2014, 06:07 PM
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Thank you to everyone who has responded so far. You have given me a few things to add to our list of things to research.
My husband started his research quite a few years ago, and together we have been looking and reading about where we, as American citizens can purchase, what the requirements are, health care, banking system, etc for the last four years.
Thank you also for suggestions regarding Belize and Puerto Rico, etc. We have not ruled out living on the Yucatan peninsula or other on or south of the equator locales.
Any additional tips and resources are greatly appreciated.
Tracy
My husband started his research quite a few years ago, and together we have been looking and reading about where we, as American citizens can purchase, what the requirements are, health care, banking system, etc for the last four years.
Thank you also for suggestions regarding Belize and Puerto Rico, etc. We have not ruled out living on the Yucatan peninsula or other on or south of the equator locales.
Any additional tips and resources are greatly appreciated.
Tracy
Mar 26th, 2015, 01:57 PM
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Forget the islands! If you want your retirement fund to last, you better look into mainland caribbean! Belize and Honduras are the two best countries to look into. I know more about Honduras because that is where I have traveled. One of the best beaches in mainland Central America is Tela Beach in Honduras! This beach is beautiful and located between two wildlife reserves. If you are not on a budget at all, I would look into Indura Resort (www.induraresort.com) otherwise take a look at Punta Izopo Resort (www.puntaizoporesort.com).
Mar 28th, 2015, 09:20 AM
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You have already highlighted St. Lucia which you loved on your honeymoon. I own a short term rental property on Reduit Beach and visit often. It is an island that offers a unique mixture of French and English heritage and has all the services that you would need. You already know that it is a stunningly beautiful place.I also have a personal soft spot for Grenada but it is not as advanced.
I feel that I know what you may be looking for and I would suggest that islands like St. Lucia and Grenada would deliver that. Anyone who says "forget the islands" certainly does not know the islands thoroughly enough to make such a sweeping statement. Central America and Mexico border the Caribbean Sea deliver a totally different ambience than the islands.If you want a more North American influence, then Puerto Rico is worth considering.
A previous contributor gave you good advice that I would agree with. Stay on the island of your choice for about three months, then decide. My choice again - St. Lucia or Grenada.
I feel that I know what you may be looking for and I would suggest that islands like St. Lucia and Grenada would deliver that. Anyone who says "forget the islands" certainly does not know the islands thoroughly enough to make such a sweeping statement. Central America and Mexico border the Caribbean Sea deliver a totally different ambience than the islands.If you want a more North American influence, then Puerto Rico is worth considering.
A previous contributor gave you good advice that I would agree with. Stay on the island of your choice for about three months, then decide. My choice again - St. Lucia or Grenada.
Mar 28th, 2015, 10:02 AM
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Dec 13th, 2015, 07:04 AM
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Hey! 
My wife and i are just to buy real estate in Pompano beach, South Florida.
We are not retiring in the near future, but thought it´d be good to invest in a vacation house, that we can give for rental until we retire.
Cant wait! Sabbia Beach ( http://sabbiabeachcondos.com/ ) is heaven on earth!
Marc
My wife and i are just to buy real estate in Pompano beach, South Florida.
We are not retiring in the near future, but thought it´d be good to invest in a vacation house, that we can give for rental until we retire.
Cant wait! Sabbia Beach ( http://sabbiabeachcondos.com/ ) is heaven on earth!
Marc
Dec 22nd, 2015, 12:03 PM
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In recent years media refers to the islands as "the Caribbean". True but the correct terminology that should be used for the islands is "the West Indies" and that would make it easier for readers to distinct between countries bordering the Caribbean Sea and the islands themselves which are unique and have a totally different environment, attitude and culture than the mainland.
Whether it is the mainland or the islands, there is something that suits everyone depending on their taste, finances and priorities.
Good luck.
Whether it is the mainland or the islands, there is something that suits everyone depending on their taste, finances and priorities.
Good luck.
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