An Old question with a new twist/ looking to locate on STT part time
My father lived on STT for 21 years till his death in 08. He enjoyed his stay being a member of the rotary club and Texas Society. I have just come in to a bit of $$$ and looking to have a place in STT to visit several times a year So I have these questions
#1 With a 700k budget is it better to go Condo or house. I do want to have a pool and a view> I have been considering a condo in Secret Harbor Resort and was looking at a house that over looks Magens
#2 Since I probably wont be there but 1 week out of every month Is Condo better for maintance or are their good property management companies
#3 What should I really be worring about
Thanks for any input
It really depends on your needs and the amount of time you plan on spending here and using a property.
There are many condo units to choose from presently on MLS as well as very nice homes in that price range.
Depends how often you plan on using the property and what you are more comfortable with.
If you purchase a condo, you do not have to deal with home and yard maintenance issues which due to our sun and salt air can take its toll without proper maintenance. While you have condo association fees that may be high depending where you choose, you may still have to hire monthly help with a residential property as you may not want to spend your week maintaining a yard, pressure washing, painting, etc., unless of course you like to do those things.
Some condo properties have a hotel plan so that is something you can always look into.
If you do not need to rent your property out and have to put your belongings away to accommodate guests, a residential property may suit you better. You can PM me if you like.
Houses tend to hold their value better than condos, and for privacy purposes tend to be more desirable as rentals, especially in the Peterborg area if that is what you mean by "over looks Magens." Further, your financial responsibilities begin and end with your investment, whereas with a condo you can find yourself at risk for contending with the fiscal problems of other owners when the condo fees are mismanaged, or when unexpected necessary expenditures arise for which all owners are not prepared to contribute. There are good property management firms on island, and regular house cleaning and yard maintenance is relatively inexpensive, so hands down I would buy a house.
many houses also have a small apartment that can be rented or used as a caretakers apt. - it helps if you are planning on leaving for long periods to have the proerty occupied. having the house shutterd with hurricane shutters or panels for long periods also encourages mold and mildew from lack of light and ventilation so having someone on premise to only shutter the house when needed is a help.
maintaining a pool that you only use a fews days a month during your week visit will be an expense and workload you may want to rethink.
True as to what Exit Zero says. You cannot completely close up a home with our heat and humidity so you have to leave some windows slightly open, at the very least, for cross ventilation but not so open on the weather side to get rain intrusion.
My sister has a home in FL but lives in STJ most of the year. They can leave the A/C on there to avoid mold and mildew growth when the house is closed up but that may not be an affordable option here, especially 24/7, in the VI due to our high WAPA rates.
You can always hire someone to put up shutters and put away outdoor furntiure in the event of a storm but there are other considerations such as monthly yard and pool maintenance, etc.
I would check out St Croix before you made any decisions. We almost bought a business on STT and then discovered ST Croix.
Some wonderful condos or homes available right now and I would recommend you check out J&J Realty Julie one of the owners has been on island almost all her life and is extremely easy and pleasant to deal with.
Why not just rent? Just WAYY easier and of course cheaper. IMO I would sack the $$ away that you have, rent a place and travel the islands.....ok maybe thats what I would do lol! I about fell over when I found out what hurricane insurance was per month. WOW. Good luck with it all!
If I were to buy property and build a house on St. Thomas, I would want to build it on the North side of the Island around the Hull Bay area. This would be my preference. But I'm a might partial to that area. I lived there for quite a few years and my wife was born and raised there. She is related to the old owners of Bryan's Bar, back whe it was Bryan's Bar. To me, it's a safe area, quite, cool with a beautiful Beach.
I also agree with AandA, why not just rent a place. To me, it would be a lot cheaper in the long run and there are tons of places to rent in that area as long as you don't have pet birds. It seems birds are not easily excepted as cats and dogs.:(
It's always best to do a PMV and look things over, to see what and where you may prefer. There are many options.
Take a couple weeks if you can afford to do so (money & time-wise) to spend checking things out.
Or visit once a month for a few months.
There are lots of vacation rentals available, and prices drop during off season, May - Nov.
If you are only planning on being here 1 week out of every 4, a rental home may not suit your needs and waste funds you would spend towards a home or condo purchase, if you are set on buying a place of your own but it is an option.
I am partial to north-side/Hull Bay area as well but it depends on your lifestyle and what you want to do while living here one a month.
If you enjoy going out every night, you may find a north-side location far from east end action tho Hull Bay Hideaway, Blue Orchid, North-side Bistro and Thirteen are nearby dining options.
Mahogany Run is less than 5 min. to Magens Bay, it is on Golf Course, has pools, gated entry, a restaurant on premises, is close to east end beaches, bars and restaurants there, ferry at Red Hook, close to shopping and grocery stores. It is a convenient location. However they do have lots of condos, most of which are studio, 1 - 2 bedrooms. A 3 bedroom condo is extremely rare there.