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Buying a Vacation Home? Check Out These 5 Affordable Islands in the Caribbean

Yaёl Bizouati-Kennedy
·2 min read
Simon Dannhauer / Getty Images/iStockphoto
Simon Dannhauer / Getty Images/iStockphoto

Thinking of buying a vacation home? How about buying a vacation home on the warm sands of a tropical Caribbean paradise island? Sounds not half bad. If so, it might be worth your time to look beyond the country’s borders, as many of these Caribbean islands offer not only paradisiac landscapes and great weather, but also affordable options.

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Antigua and Barbuda

Average home price: $255,000 to $12 million (minimum purchase requirement price of $200,000), according to Global Citizens

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Prospective homebuyers will have a lot of options, yet as The Travel reported, they must be in the pre-approved areas.

The cost of living is a little more expensive than other islands in the Caribbean, but it’s still at least 20% cheaper than the United States, The Travel added.

St. Croix

Average home price: $239,000, according to The Travel

St. Croix, U.S .Virgin Islands is a great and easy option for U.S. citizens and is considered the most affordable of the U.S .Virgin Islands, according to The Travel.

The island is also known for its old world charm, new world conveniences and burgeoning culinary scene, according to Visit St. Croix.

St. Lucia

Average home price: $200,000 (at Rodney Bay), according to The Travel

This Caribbean island is known for its famous landscape, notably the Pitons. And as The Travel reported, beyond the beautiful surroundings, St. Lucia homebuyers benefit from not having to pay taxes on capital gains. Talk about a good deal.

Roatan

Average home price: $135,000 – $175,000, according to The Travel

Roatan is an island in Honduras and is known for its diving opportunities. Foreigners can directly buy property in Roatan, and prices are generally lower than places in Mexico, or elsewhere in the Caribbean, according to Spring Water Resorts.

Barbados

Average home price: $67,500 – $400,000, according to The Travel

Barbados is a great location for a budget-friendly vacation home in the Caribbean, according to The Travel. In addition, the buying process is rather straightforward as there are no regulations against non-nationals owning land or property, it added.

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Another advantage is that Barbados also has a 12-month Welcome Stamp program, which is a visa that allows foreigners to relocate and work on the island without paying local taxes, according to Residence Barbados.

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This article originally appeared on GOBankingRates.com: Buying a Vacation Home? Check Out These 5 Affordable Islands in the Caribbean