Friday, October 30, 2009
Consider Condominiums for your second home purchase on the Island of Dominica
By Fitzroy Bertrand
It is no wonder retirees and middle-aged professionals look to the Island of Dominica when choosing a location for their dream homes. Many Dominicans after having lived abroad in Europe, USA, Canada and other Caribbean islands are looking for a retirement paradise, or wish to make their second home an island home. But what home style best suits the homebuyers’ new needs.
Consider the Advantages of Home on the Island of Dominica
Beautiful topography, 365 clean and clear rivers, mountain and sea breezes are only part of the attraction to the largest English speaking eastern Caribbean island. Reasonably priced homes and property, as well as high interest on savings, no estate tax, no capital gains tax, no death dues are some of the reasons that Dominica is considered one of the best real estate values in the Caribbean.
Weigh the Advantages of Condominium
Avoid the primary pitfall of dream home building: becoming house poor. The cost of an upscale condominium can be less than half the cost of a single-family home. Many who purchase single-family homes end up overspending their budgets, not utilizing the whole house, becoming house poor and enslaved to their new dream home. That is not the kind of retirement or “dream” home most people picture.
Instead, consider the advantages of condominium living. Make the best possible investment of your money without overextending yourself. The money saved on a condominium purchase as opposed to a single-family home can be used for luxurious amenities in your condo, for traveling, or for a boat purchase. Now that’s the way you imagined your retirement in your dream home!
The building headaches with single-family homes as opposed to condominiums are all but eliminated. Your biggest building decisions will be in selecting among a few well thought out design options.
The condominium management takes care of all the hassles of homeownership for you – outside repairs and maintenance, lawn mowing, newspaper collection and other services when you are traveling. No worries about leaving your home unattended when you close the home for the season or are traveling. Maintenance is handled, security systems are in place, and there are always many people around in the condominium community.
In addition, there is the possibility of renting your condo while you are not on the island, providing another way to save on costs in a downturn economy.
Get sound building advice from professionals who are familiar with homebuilding in Dominica.
Real Estate Surveyors & Developers, LLC (RESD) has been doing business in Dominica, and the United States for over 20 years. They can guide you through the process and help you avoid the common mistakes. They know the legal requirements specific to home building and real estate transactions on the island. RESD is a known expert in the field of land surveying, site engineering, construction management, real estate development sales and management.
RESD can help make your condominium purchase both a smart investment and a realization of a dream come true.
For more information, please contact:
Fitzroy J. Bertrand PLS, MSc.
President
Real Estate Surveyors & Developers LLC
www.resdllc.com
[email protected]
301-604-3105 Tel.
301-604-3108 Fax.
We serve: Dominica and the United States
It is no wonder retirees and middle-aged professionals look to the Island of Dominica when choosing a location for their dream homes. Many Dominicans after having lived abroad in Europe, USA, Canada and other Caribbean islands are looking for a retirement paradise, or wish to make their second home an island home. But what home style best suits the homebuyers’ new needs.
![]() Fitzroy Bertrand is President of Real Surveyors and Devlopers a Washington based firm. |
Consider the Advantages of Home on the Island of Dominica
Beautiful topography, 365 clean and clear rivers, mountain and sea breezes are only part of the attraction to the largest English speaking eastern Caribbean island. Reasonably priced homes and property, as well as high interest on savings, no estate tax, no capital gains tax, no death dues are some of the reasons that Dominica is considered one of the best real estate values in the Caribbean.
Weigh the Advantages of Condominium
Avoid the primary pitfall of dream home building: becoming house poor. The cost of an upscale condominium can be less than half the cost of a single-family home. Many who purchase single-family homes end up overspending their budgets, not utilizing the whole house, becoming house poor and enslaved to their new dream home. That is not the kind of retirement or “dream” home most people picture.
Instead, consider the advantages of condominium living. Make the best possible investment of your money without overextending yourself. The money saved on a condominium purchase as opposed to a single-family home can be used for luxurious amenities in your condo, for traveling, or for a boat purchase. Now that’s the way you imagined your retirement in your dream home!
The building headaches with single-family homes as opposed to condominiums are all but eliminated. Your biggest building decisions will be in selecting among a few well thought out design options.
The condominium management takes care of all the hassles of homeownership for you – outside repairs and maintenance, lawn mowing, newspaper collection and other services when you are traveling. No worries about leaving your home unattended when you close the home for the season or are traveling. Maintenance is handled, security systems are in place, and there are always many people around in the condominium community.
In addition, there is the possibility of renting your condo while you are not on the island, providing another way to save on costs in a downturn economy.
Get sound building advice from professionals who are familiar with homebuilding in Dominica.
Real Estate Surveyors & Developers, LLC (RESD) has been doing business in Dominica, and the United States for over 20 years. They can guide you through the process and help you avoid the common mistakes. They know the legal requirements specific to home building and real estate transactions on the island. RESD is a known expert in the field of land surveying, site engineering, construction management, real estate development sales and management.
RESD can help make your condominium purchase both a smart investment and a realization of a dream come true.
For more information, please contact:
Fitzroy J. Bertrand PLS, MSc.
President
Real Estate Surveyors & Developers LLC
www.resdllc.com
[email protected]
301-604-3105 Tel.
301-604-3108 Fax.
We serve: Dominica and the United States
| | Home Page | Dominica |Welcome Message | Prior Issues|Flag and Symbols | Dominica Constitution | Bulletin Board |Contact Us |Local Headlines |Discussion Board |Radio & TV |Cricket | Current Issue |
Comments:
Links to this post:
<< Home
Why can't we Dominicans learn to be critical without resorting to nastiness on a personal level? This article is about owning condos in DA. Every individual is entitled to believe, and to express her view, that this is a great, intersting, okay or terrible idea. But what on earth does what someone said or sounded like at a diaspora meeting have to do with the present subject matter? Come on, we can do better than that.
Don't you see the connection? Did you hear how pathetic Fitzroy sounded? about how he invited his dear Prime Minister to a cocktail party at his house and his dear Prime Minister encouraged him with the condo idea? And how he lives at Fort Young when he comes to Dominica and how he is building his house in At. Aroma BLah! blah! Blah! Blah! Who cares?
Don't you see the connection? Did you hear how pathetic Fitzroy sounded? about how he invited his dear Prime Minister to a cocktail party at his house and his dear Prime Minister encouraged him with the condo idea? And how he lives at Fort Young when he comes to Dominica and how he is building his house in At. Aroma BLah! blah! Blah! Blah! Who cares?
Knowing Both Sides Help Informed Decisions.
If you're thinking of buying a home but don't want to deal with the hassle of maintaining a yard, paying for repairs, shoveling snow, and cutting the grass, you may want to consider buying a Condominium. A condominium is similar to an apartment except for one main difference, instead of paying rent, you own the property. The difference is purely legal, as in, you own the property, and share the common areas with others. Well technically you only own the air space within the boundaries in the property, and can modify the interior to your liking. But it's still the same as owning your own home, with the added benefits of less maintenance.
What's the advantages and disadvantages of owning a condominium?
Cheaper - Condos are usually cheaper then a comparable stand alone single family property. If you wanted a 2,000 square foot home, you would most likely pay 20-30% less if you bought a condo. Disadvantage? Well, your neighbors are usually really close, like as in, a walls thickness away. Depending on how well built the condo is, this may or may not effect you. Some condos you may hear your neighbors, others are built sound proof, and having close neighbors won't effect your noise level at all.
Less Maintenance - The best advantage of owning a condo is having a almost maintenance free property. Most condos are maintained on the outside, which means no more shoveling snow, mowing the lawns, and repairing things like siding or shingles. Disadvantage? There is usually a Homeowners Association fee (HOA) that you are required to pay.
Common Areas -
Safer - There are a lot of condo complexes that have gated communities, or other security measures to keep you safe. In larger cities, you may have to push a button to be let into the complex, this is a great way to be safe. You also have a lot more neighbors that are closer, and will be more adept to watching the premise, which is good if you are going on vacation.
Disadvantages There are disadvantages to owning a condo, one of which is the proximity of your neighbors. Most condos are built with a common wall, which means you will be sharing at least one wall with a neighbor, if not more, and this could prove to a be a noisy environment. Another disadvantage would be parking, most condos come with limited parking as you have to share the space with your neighbors.
Depending on your viewpoint, potential condo disadvantages might include:
* You will be responsible for payment of Condominium Association fees. These are not tax deductible.
* Your fees may be paying for amenities, such as a swimming pool or sauna, that you may not use.
* Unexpected increases in monthly fees and special assessments for maintenance costs.
* Condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, outdoor barbeques, pet ownership, renovations and even what kind of curtains you can put in your windows.
* Poor soundproofing (the No. 1 complaint of condo owners).
* Parking at condominiums is often in a common area not attached to the home.
* No yard.
* Some condo buildings may have stairs. Poor-quality maintenance or management which affects enjoyment and resale values.
* Condominiums are more sensitive to trends in the real estate market than single-family homes. If the real estate market takes a down turn, condos are usually the first to suffer and the last to recover.
Copyright © 2009 Condos Information.
If you're thinking of buying a home but don't want to deal with the hassle of maintaining a yard, paying for repairs, shoveling snow, and cutting the grass, you may want to consider buying a Condominium. A condominium is similar to an apartment except for one main difference, instead of paying rent, you own the property. The difference is purely legal, as in, you own the property, and share the common areas with others. Well technically you only own the air space within the boundaries in the property, and can modify the interior to your liking. But it's still the same as owning your own home, with the added benefits of less maintenance.
What's the advantages and disadvantages of owning a condominium?
Cheaper - Condos are usually cheaper then a comparable stand alone single family property. If you wanted a 2,000 square foot home, you would most likely pay 20-30% less if you bought a condo. Disadvantage? Well, your neighbors are usually really close, like as in, a walls thickness away. Depending on how well built the condo is, this may or may not effect you. Some condos you may hear your neighbors, others are built sound proof, and having close neighbors won't effect your noise level at all.
Less Maintenance - The best advantage of owning a condo is having a almost maintenance free property. Most condos are maintained on the outside, which means no more shoveling snow, mowing the lawns, and repairing things like siding or shingles. Disadvantage? There is usually a Homeowners Association fee (HOA) that you are required to pay.
Common Areas -
Safer - There are a lot of condo complexes that have gated communities, or other security measures to keep you safe. In larger cities, you may have to push a button to be let into the complex, this is a great way to be safe. You also have a lot more neighbors that are closer, and will be more adept to watching the premise, which is good if you are going on vacation.
Disadvantages There are disadvantages to owning a condo, one of which is the proximity of your neighbors. Most condos are built with a common wall, which means you will be sharing at least one wall with a neighbor, if not more, and this could prove to a be a noisy environment. Another disadvantage would be parking, most condos come with limited parking as you have to share the space with your neighbors.
Depending on your viewpoint, potential condo disadvantages might include:
* You will be responsible for payment of Condominium Association fees. These are not tax deductible.
* Your fees may be paying for amenities, such as a swimming pool or sauna, that you may not use.
* Unexpected increases in monthly fees and special assessments for maintenance costs.
* Condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, outdoor barbeques, pet ownership, renovations and even what kind of curtains you can put in your windows.
* Poor soundproofing (the No. 1 complaint of condo owners).
* Parking at condominiums is often in a common area not attached to the home.
* No yard.
* Some condo buildings may have stairs. Poor-quality maintenance or management which affects enjoyment and resale values.
* Condominiums are more sensitive to trends in the real estate market than single-family homes. If the real estate market takes a down turn, condos are usually the first to suffer and the last to recover.
Copyright © 2009 Condos Information.
Whatever is said by someone,is a matter of opinion and should not be subjected to personal critticism.
Condos are for people in the USA,and Canada,some of them do not like to shovel the snow, and during the summer beautify their surroundings
Roughly five years ago my family and myself were bought a condo, and we know even before purchasing the condo that there are restrictions
What people need to know is that, buying a condo, first and foremost the land on which this condo is built does not belong to you.
After purchasing the condo every month you have to pay condo fees, after purchasing the condo for whatever it cost
If you need the paint, repair, change cupboards or do any thing even changing a toilet, Planting flowers to beautify the surrounding you cannot do, whatever you have to do, you have to contact whoever is the property manager and they will send their contractors to do the repairs. If you want to have a party you cannot do so cause other people in the building will file complaint against you, Condo are retirees. and seniors. even so what about the rats, mice, cockroaches bedbugs and so on
I do not believe that this is a good idea, personally with my experience lively in a condo and having to go through all the pains we went through, Dominicans need to do their home work before investing their hard earn money in condos
We sold our condo, bought a house yes, we have to shovel the snow but it is ok, we have our freedom and can do whatever we want in our house and our backyard
Dominica first/ Toronto second
Roughly five years ago my family and myself were bought a condo, and we know even before purchasing the condo that there are restrictions
What people need to know is that, buying a condo, first and foremost the land on which this condo is built does not belong to you.
After purchasing the condo every month you have to pay condo fees, after purchasing the condo for whatever it cost
If you need the paint, repair, change cupboards or do any thing even changing a toilet, Planting flowers to beautify the surrounding you cannot do, whatever you have to do, you have to contact whoever is the property manager and they will send their contractors to do the repairs. If you want to have a party you cannot do so cause other people in the building will file complaint against you, Condo are retirees. and seniors. even so what about the rats, mice, cockroaches bedbugs and so on
I do not believe that this is a good idea, personally with my experience lively in a condo and having to go through all the pains we went through, Dominicans need to do their home work before investing their hard earn money in condos
We sold our condo, bought a house yes, we have to shovel the snow but it is ok, we have our freedom and can do whatever we want in our house and our backyard
Dominica first/ Toronto second
My dear friend Fitzroy, those that are trying hard to discourage you with an advise that you took from your Prime Minister, simply because they "HATE" this man called Roosevelt Skerrit, what can I say to you other than, follow your dreams, at the end of the day, Dominicans who say these nasty things about you and are living out there, when they will see the fulfillment of your dream, they too are going to be coming home with their tails in there bots and do the same. That is if they themselves are not already planning, time will tell, VERY SOON
I know Fitzroy as an upstanding person and terrific businessman. Any comments to the contrary are totally off base. I also wholeheartedly support the initiative of condos in Dca - a terrific idea whose time has come.
Mr. Fitzroy the comments that are posted here is not to discourage you. It is that people have to make informed decisions. After learning the advantage and disadvantage of owning a condo, someone who come to buy your condo has looked at the pros and cons and has made the sound decision that a condo is best for him/her.
People let us think like educated people instead of a closed minded people. Prime Minister Skerrit has nothing to do with people knowing the advantage and disadvantage of any given service/product, magresa you all give the man too much credit. I love condos and what it affords me, I have given thought to the pros and cons and for me a condo is home.
People let us think like educated people instead of a closed minded people. Prime Minister Skerrit has nothing to do with people knowing the advantage and disadvantage of any given service/product, magresa you all give the man too much credit. I love condos and what it affords me, I have given thought to the pros and cons and for me a condo is home.
Links to this post:
<< Home
Subscribe to Posts [Atom]


Post a Comment
Please Provide Opinions and Comments on This Article.