Property management for first time buyers
In my experience, many first time purchasers of a holiday home don’t fully understand the associated hidden costs. This isn’t a negative to buying a holiday home, instead, knowing the running costs before home hunting begins will help you identify what each home will cost you in the long run and thus narrow down your search early on.
This article was posted today and gives some insight to property management. Whilst those who do not want to rent their home may think a property manager is not necessary, I am a huge fan of property management either way.
For example, it will ensure a close eye is kept on maintenance! If this gets out of control, which in the tropics it can, a nasty surprise could be waiting for you on your return, to what should be a peaceful break away.
If you are a first time buyer on Barbados, I suggest you touch base with a property manager early on. Being in the business, we here at BPL can refer you to commercial agents (if you are interested in renting) and also the more handyman type of manager.
Related posts:
- Terra Caribbean Monthly Newsletter focuses on “Residential Capitalisation Rates”
- Price Increases Inevitable in Caribbean Property Market
- Hot property investments in the Caribbean – Simon Jones of International Hot Property
- Condo competition in the Gap could lead to great opportunities for the savy property investor
- Overseas property – the role of fractional ownership during a recession
Tags: barbados, buying property, construction, property maintenance, property management
