Written by: James Bovell
Summary: Long distance real estate investments on Grand Cayman represent one of the safest vessels for your retirement money.
Real estate can be a good vessel for retirement money, but it’s hard to justify the risk that comes with buying real estate outside your local area. You may not have familiarity with the area, and that could lead to decisions that seem good up front but lack longevity. Cayman Islands homes for sale offer something unique. They are not just an investment opportunity, they are a destination.
The “Wow” Factor
One of the concerns that the people of the Cayman Islands face moving forward is how they might compete with Cuba, which will open relations with the United States soon. The solution is “Wow” factor. Grand Cayman property already occupies amazing real estate with the beach never too far from reach, but the island recognizes a need for more. In response, a new $55-billion airport is being built to service the needs of 1 million passengers.
The best in service, low crime rates and an attractive island atmosphere help Cayman stay competitive, and its real estate remain valuable. Even when faced with competition from places like the Bahamas.
Your investment buys quite a bit. According to Dream Finders, non-natives can buy land so long as they pay stamp duties on the transactions for their house. You can hold your property and use it as a temporary rental if you decide not to stay, or live in it full-time with the knowledge that your improvements are adding true value to the home.
If you prefer to stay remote, visiting the island as you need or want, property management companies can monitor your property and handle rentals for you. Without taxes on the income your property makes, your retirement plan will improve substantially.
Bio: The Dream Finders team is ready to help you find the vacation home of your dreams. Settle on Grand Cayman with an agent from Dream Finders.