B & B on St Croix
I have been looking at the MLS in preparation for our PMV next week and I have noticed that many house's have apartments, cottages etc that are either part of the house or on the property. My question is - how is the rental market and how would a B & B go over. In reading the post and realizing how expensive it can be to live on the island - a source of potential income would be welcomed. Is it feasible? Thanks again for all the great post - the info is invaluable.
A lot of folks rent out their cottages or apartments for additional income to help offset mortgage costs. It seems like a successful way to deal with real estate prices.
There are several B&B's on STX (and one Bed & Happy Hour). There is at least one B&B currently for sale and sometimes there are properties on the market that could easily be transformed into one.
Thanks for the update. We are very interested in running what we will refer to as a 'ZZZ's and Sea's' . We will be bringing down our sailing catamaran and thought it might be fun to combine the two - since I would not be into running a full-time sailing charter I am hoping this will be the best of both worlds. Just hope there will be a market for it.
Bed and Happy Hour?
Bed & Happy Hour is how I describe the offering at Villa Margarita. It's a privately run guest house with 3 suites (a studio, a 1-BDR, and a 2-BDR). Each suite has a kitchenette so you can make your own breakfast if you desire, but the owners host a happy hour each night for the guests. It's become a popular venue for staying during a PMV as the owners are very good about helping their guests learn what they need to about the island.