Hello all. After over 10 years of being tourists we are ready to become St. Martin homeowners. We would really appreciate any input regarding the buying process. Any hidden fees, words of wisdom, advice for new landlords? We plan to rent. Thanks for all help

I assume you will be an absentee owner. hopefully you have close relationships with people who live on the island as you will need them.

chick Wrote:
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> Hello all. After over 10 years of being tourists
> we are ready to become St. Martin homeowners. We
> would really appreciate any input regarding the
> buying process. Any hidden fees, words of wisdom,
> advice for new landlords? We plan to rent. Thanks
> for all help

chick,

I'm not saying you should or shouldn't fulfill your dream but think long and hard before you make the ultimate commitment and consider all the aspects of absentee ownership, please.

About twenty years ago, being fifteen year island veterans at that point, we considered doing the same thing. Briefly. We were fortunate enough to speak to a couple of island home owners sitting across from us on our flight down that year and we started viewing 'paradise' from the eyes of someone who was already living our dream.

They were making a last minute trip because the company who was 'over-seeing' the property for them had called and informed them the power ergo the airco had gone off for an extensive time and there was a lot of mold damage done. And, to make matters worse, the home had been robbed. Again.

An island home is a wonderful dream but, per the folks we spoke with on that plane, the unexpected pitfalls could very easily turn the dream into a total nightmare if you're not prepared. The costs of maintaining a property from afar year round can be extremely dear as can repairing the property should problems arise. Insurance is very expensive and the risk of the home being broken into and looted and/or vandalized or is also very real.

As long as expense is no issue to you and you have the time and the financial ability to be able to hop on a plane whenever a problem arises, I'd say go for it. If this isn't necessarily your total picture, think long and hard before making the final commitment.

Ultimately, we chose not to buy and I've really never regretted it. We did buy a timeshare for the weeks we were most apt to want to be on the island and it's worked well for us but I wouldn't recommend that to most people either.

Whatever you ultimately choose to do, good luck with your dreams.

Respectfully,

pat
:-) :-)

Pat,
It's not that bad! LOL
We owned on SXM for 7 years and left only because of employment issues. We had a very good manager who kept the unit rented with long term tenants. We were able to visit and use our condo at the end of the lease and the rent paid for all the condo fees, repairs etc.
I do agree that it is not something to be taken lightly. Give it alot of thought and think of the plus or minuses.
Good Luck
Cheers
irina

irina,

We both know that - but for someone who doesn't, they really do need to consider all the potential problems and that was my point. I tried dealing with stuff like that with a home in SC and it made me crazy. Well, perhaps just a little crazier than I already was but it was more than enough to make me feel personally, no matter how well you plan, you just can't cover all the bases from a distance.

The people I referenced weren't in a condo situation and didn't have any on-site management. They owned their own home and it wasn't a 'to rent' property, either long or short term. It was their island dream home and from all they said, and as much as they loved it, there were periodic nightmares with absentee ownerism. They said they had all kinds of security systems in place and supposedly paid dearly for an on-island company to check the property regularly. Their home was broken into and robbed and vandalized several times and each time it cost them much in time and aggravation. And that was above and beyond the utility problems with the electric and airco.

I think you had a great situation where you were and you were fortunate that all things went well for you. But I seem to recall a water heater....??? LOL

Hey, Toots - hoping as always things are good. Will talk soon.

Respectfully,

pat
:-) :-)

LOL
Pat,
I was there for the water heater! Totally oblivious until the leak in the kitchen downstairs!
xx
i

We are seriously considering all aspects of owning. We are going to see a few properties while we are there next time but I am not completely committed to the idea. My biggest concern is the congestion and crime. We would only consider a condo within a development that could handle the upkeep and rentals for us. Can you guys comment on the crime and recent increase in traffic? I have recently read some horror stories about armed robbery!
Thanks for your input

Hi Chick,
Who is your real estate agent?
I would recommend the Simpson Bay/Welfare Road area. Lot's to do around there and you can get to lot's of places by walking.
I think the Cupecoy area is way too built up and that sole road is going to be a nightmare.
Good Luck
Cheers
irina

THanks Irina. We are looking at the Simpson Bay/Pelican Key area only, as that is what appeals to us the most and we are familiar with it. Do you still visit St. Martin? I really would like your perspective on how you think the crime and traffic is now.
Chick

Chick,
I have to say that in all the years we owned there we only experienced one incident, back in 99, when someone tried to break into our unit. Very stupidly. Tried to get in thru our second floor balcony by standing on a plastic table.

We really never experienced things that we hear warnings about. We always kept stuff in our car. Nothing happened. We did have local plates on our car, not rental. I remember discussing this back in the 90's with Enzo from La Rosa on getting the government to change the R on the rental plates. That made the tourist easy targets.
Just be normal, don't take silly chances and you will be all right. I think.

Traffic? I live in Miami now. How could traffic be worse? If you get caught at the bridge, just pull over somewhere for a little Heinie till it clears. Did this several times, both sides of the bridge. Good luck in your search. I hope whatever you decide is what's best for you.
Cheers
irina

WE ARE INTERESTED IN MOVING TO ST. MARTIN PERMANENTLY, YEAR ROUND COULD YOU PLEASE ADVISE US? THANK YOU JERRY & SHELLEY GOLD STEIN 864-409-3284

Please before making any move or take the decision to come down permanently, read carefully all the related thread on this board regarding immigration issues in St Maarten/St Martin. It is not easy at all as you will realise and the imigration laws are being enforced strongly since a while. You will find most if not all the info rearding this issue in those thread, so I won't repeat myself about what I wrote or others did.

Kind Regards,
Philippe



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