Should I buy or rent a home in Bahamas?
If you have not spent a lot of time in Bahamas, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"When we first arrived we purchased a small condo which was rather easy to do. There are a lot of taxes and fess involved and the real estate laws are a little complicated here so it is highly recommended you get a good real estate agent involved and not purchase directly from the seller," mentioned another expat when asked about moving to New Providence, Bahamas.
"Deciding whether to buy or rent a home in the Bahamas depends on a variety of factors. These might include a homebuyer's budgetary constraints, anticipated length of stay, and lifestyle preferences. Buying a home generally involves long-term, hefty investment of time and money, however it can provide a secure base of operations and potential investments benefits. Conversely, renting a home can be a more cost-effective and oftentimes less time-intensive option, making it ideal for those who intend to stay in the Bahamas for a shorter period. Ultimately, which option is best depends on the individual's needs and preferences," commented one expat who made the move to Bahamas.
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Other Questions:
- What should I pack when moving to Bahamas?
- Where should I setup a bank account in Bahamas?
- Will I be able to find a job in Bahamas?
- What is life like in Bahamas?
- What do expats in Bahamas appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Bahamas?
- Is there a lot of diversity? Are people in Bahamas accepting of differences?
- What are the schools in Bahamas like?
- What are healthcare services like in Bahamas?
- What are medical services in Bahamas like?
- Are healthcare and health insurance expensive in Bahamas?
- What are emergency services like in Bahamas?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Bahamas?
- How are local medical facilities in Bahamas?
- As a foreigner living in Bahamas, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
Should I buy or rent a home in Bahamas?
If you live in Bahamas, newcomers to Bahamas would love to hear your answer to this question.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
