This section is divided into two categories, one focused on purchasing Barbados real estate and the other dedicated to selling real estate in Barbados.
The Barbados real estate market has shown a steady increase in property prices over the last few years, but not as dramatic as those seen in the US and the UK. Now that prices in these countries have leveled off, the Barbados property market has remained steady and offers some excellent investment opportunities.
Whether you are looking to buy land or property in Barbados as an investment or as your actual home of residence, there are many factors to be considered and we have outlined some of these things for the potential purchaser or seller of property in Barbados.
Whether you are a buyer or seller of real estate in Barbados, you will need to use the services of a real estate agent or broker and you will find a comprehensive list of these on our website.
The residential sales section of our website also covers the many properties and land for sale such as homes in Barbados, luxury villas, houses, apartments and condominiums.
If you are looking to sell a property, there are some key points within this guide to help in getting started such as preparing the property for sale by carrying out minor repairs and renovations. If there is major work to be undertaken, it may be worth considering leaving this to the new owners and accepting a lower price for the property to reflect the work to be completed.
It is also suggested to have a seller's inspection on your property, this way you are aware of any defects in need of repair. You can reduce the asking price to reflect this, or have the work completed so there are no surprises to jeopardize the final sale at the time a purchaser has their own survey conducted.
This guide also outlines what are typically the best seasons for selling real estate and walks you through the listing agreement you will enter into with your real estate agent or broker.
There are also areas covering the receiving of an offer and how to negotiate with the purchaser. You will also find some tips on how remain calm when buying and selling property at the same time, which can be a very stressful experience.
If you are looking to purchase real estate in Barbados, we have tried to outline some of the ways to get started in the process. We look at the various types of mortgages available from local Barbados lenders and the criteria you must meet in order to obtain your mortgage for the purchase and also insurance requirements.
If you would like to build your own home, we have outlined how to get started in the process, look at land loans available, and how this converts to a mortgage when you start construction.
We have also outlined the down payments required by most banks, interest rates, and include a mortgage calculator to calculate your mortgage payments and lending criteria.
Within this guide, you can also find information regarding employing the services of an attorney at law, how to make an offer on your chosen property, and information regarding other costs involved such as taxes and closing fees on your property.
Whatever your interest in real estate in Barbados, you will find some of the facts about the real estate laws in Barbados and key points to help you with your purchase.