Real Estate in Road Town, the British Virgin Islands
Last updated on Jan 05, 2024
Summary: Expats and retirees talk about real estate in Road Town, Brit. Virgin Isl.? How do you find a home in Road Town? Should you buy or rent? What is the cost of housing?
What is a typical expat home or apartment like in Road Town?
"Expat homes or apartments in Road Town, British Virgin Islands, are typically spacious and well-furnished, offering a comfortable living environment. They often feature modern amenities such as air conditioning, high-speed internet, and fully equipped kitchens. Many of these homes have large windows or balconies that provide stunning views of the surrounding landscapes, including the ocean, mountains, and lush greenery. The architecture of these homes often reflects the Caribbean style, with bright colors, wooden accents, and open floor plans that allow for natural light and air circulation. Some homes may also have a private pool or access to a community pool, providing a perfect spot for relaxation and entertainment. The location of these homes is another appealing factor. Many are situated close to the town center, providing easy access to shops, restaurants, and other amenities. Others are nestled in more secluded areas, offering peace and tranquility away from the hustle and bustle. Despite the luxurious features, these homes are designed to withstand the tropical climate and occasional storms, with sturdy construction and features like hurricane shutters. In terms of interior design, expat homes in Road Town often have a tropical or beach-inspired theme, with light, airy colors, natural materials, and decor that reflects the island's culture and lifestyle. Overall, expat homes in Road Town, British Virgin Islands, offer a blend of comfort, luxury, and local charm, making them an ideal choice for those looking to experience the Caribbean lifestyle," said one person in Road Town.
What is the average cost of housing in Road Town?
If you are thinking about moving to Road Town, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Road Town, British Virgin Islands, can vary greatly depending on the type and size of the property. For a one-bedroom apartment in the city center, you might expect to pay around $1,000 to $1,500 per month. For larger, more luxurious properties, or those with a sea view, the cost can rise significantly, often reaching several thousand dollars per month. Buying property can also be quite costly, with prices per square meter often exceeding $3,000. However, these prices can fluctuate based on the current real estate market conditions," remarked one foreigner who made the move to Road Town.
Should I buy or rent a home in Road Town?
If you have not spent a lot of time in Road Town, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Road Town, British Virgin Islands, depends on several factors, including your financial situation, long-term plans, and the local real estate market. If you plan to stay in Road Town for an extended period and have the financial means, buying a home may be a good investment. Owning a property allows you to build equity, and the British Virgin Islands' real estate market has historically shown steady growth. Additionally, buying a home provides stability and the freedom to make changes to the property as you see fit. On the other hand, if you are unsure about your long-term plans or prefer flexibility, renting may be a better option. Renting a home in Road Town allows you to explore different neighborhoods and housing options without the commitment of homeownership. It also provides the opportunity to save money for a future home purchase or other investments. It's essential to consider the costs associated with both buying and renting, such as maintenance, taxes, and insurance for homeowners, and the potential for rent increases for renters. Additionally, it's crucial to research the local real estate market to understand the trends and potential for growth. In conclusion, the decision to buy or rent a home in Road Town, British Virgin Islands, depends on your personal circumstances and preferences. It's essential to weigh the pros and cons of each option and consider the local real estate market before making a decision," said one expat who made the move to Road Town.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Other Questions:
- What do I need to know before moving to Road Town?
- What is a typical expat home or apartment like in Road Town?
- What is the average cost of housing in Road Town?
- How do I meet people in Road Town?
- What do I need to know before retiring in Road Town?
- What should I pack when moving to Road Town?
- Where should I setup a bank account in Road Town?
- Will I be able to find a job in Road Town?
- What is life like as an expat in your area?
- What do people like (and dislike) about Road Town?
- What type of social life can someone expect in Road Town?
- What is the social scene like in Road Town?
- What advice to expats in Road Town have about housing?
- What are medical services in Road Town like?
- Are healthcare and health insurance expensive in Road Town?
- Is the cost of living in Road Town high?
- What are the visa & residency requirements in Road Town?
- Why do people move to Road Town?