The choice of options on the British Virgin Islands is extensive. Asking the following specific questions can usually direct you to the right property to buy in the BVI:

• Is the solitude of a private island the right choice or do you like being around lots of activity?
• Is a condominium or managed property the way to go for your lifestyle?
• Will you be a permanent resident of the BVI or will you come and go?
• Do you no longer want the responsibility of a home or do you value your privacy and autonomy?
• What is the difference between a leasehold and freehold property?

Lifestyle

If you are looking for a somewhat private island, there are various options, but if you’d like the solitude of a private island and are willing to share with others, Great Camanoe, Oil Nut Bay, Scrub Island, and Blunder Bay are excellent choices.

Both land and residences are available for sale on Great Camanoe, which has both a freehold side and a leasehold side to choose from. Outer island living requires one to be comfortable using a boat for transportation and access to amenities.

The decision to buy a private home, or a managed property, whether it is a condo or free standing home, has much to do with lifestyle. Condos or managed properties are a great option for snowbirds—those who fly home for the summer months—and cater to a more carefree style of living.

Rental income

A managed property has a company look after the residence and rent it if that is so desired. Having your property generate income can be a motivating reason to buy in the BVI as it is a desirable vacation destination and the rental market is very active. A private home may be the perfect choice for families and permanent residents of the British Virgin Islands.

Lease- or Freehold

Property in the British Virgin Islands is either freehold—also known as fee simple—or leasehold. Freehold is simple enough; the owner owns the property outright. With a leasehold property, the land is often owned by the government and leased for a fee for a certain length of time, initially 99 years. It is important to consider the length of time left in the lease as the yearly lease cost is likely to increase upon renewal, which will affect the present owner and the resale value.

Addressing some of the issues and questions in the above paragraphs should be of great assistance in making a decision on the type of property to purchase in the British Virgin Islands.