Your password will need to be updated. Use the “forgot password” feature to create a new password.

Join discussions on moving to and living in the USVI, ask questions, share info & tips!
(Vacationing? Visit Travel Message Board)

Buying a house questions  

  RSS
traclod
(@traclod)
Active Member

Hi All, I am in the process of buying a home on St.Croix, however I am new to the expected cost of getting a survey, license inspector, and various other items. Also is there someone that cost reasonable and does a good job. Searching for as much information as possible on people that can do the work and getting an estimated cost.

ReplyQuote
Posted : April 9, 2017 5:09 am
singlefin
(@singlefin)
Prominent Member

Any realtor on island could point you in the right direction. I believe there are only five licensed surveyors on STX.
One thing to expect when buying a home, expect the unexpected. If these expenses are already causing you difficulties, perhaps a condo might be a better option. The cost of home maintenance, electricity, and most living expenses are also considerably higher here than in most states.

ReplyQuote
Posted : April 9, 2017 1:40 pm
Gator's Mom
(@Gator's_Mom)
Prominent Member

I recommend conferring with your realtor and/or the attorney who will be handling the closing for you to find out who they prefer to work with.

Do you really need a new survey? An inspection is useful though - particularly it helps to have your cistern and roof inspected. You might get some credit back from the seller on these items if they are close to needing cleaned/painted.

Don't fear owning a house on STX. Just buy well and enjoy the adventure.

ReplyQuote
Posted : April 9, 2017 2:29 pm
daveb722
(@daveb722)
Reputable Member

Sent you a PM

ReplyQuote
Posted : April 9, 2017 3:16 pm
Wolverine888
(@Wolverine888)
Estimable Member

What kind of housing can I expect to OWN, not rent on St. John? Thx for any input

ReplyQuote
Posted : April 17, 2017 7:26 am
Afriend
(@afriend)
Reputable Member

What kind of housing can I expect to OWN, not rent on St. John? Thx for any input

It all depends on how much money have you got to spend on your house.

ReplyQuote
Posted : April 17, 2017 9:27 am
caribstx
(@caribstx)
Island Expert

Do you really need a new survey?

You won't get a mortgage without a current survey.

ReplyQuote
Posted : April 17, 2017 11:01 am
Gator's Mom
(@Gator's_Mom)
Prominent Member

That's true but not everyone has a mortgage. You don't necessarily need an inspection, survey or even homeowners insurance if you don't have a conventional mortgage.

Do you really need a new survey?

You won't get a mortgage without a current survey.

ReplyQuote
Posted : April 17, 2017 4:44 pm
Alana33
(@Alana33)
Islander

It's always good to have a survey, especially if there hasn't been one done recently. A bank will require one as mentioned as well as home inspection and insurance.

All kinds of issues can develop if there's been any encroachments onto the property. If this will be your primary home, it may be a tax deductible cost. Check with your accountant.

I might add that even if you're paying cash, not having an inspection and homeowners insurance is, IMO, foolish unless you're so wealthy you can afford to replace and repair your property in the event of a catastrophic disaster.

ReplyQuote
Posted : April 17, 2017 5:06 pm
Scubadoo
(@Scubadoo)
Noble Member

And you may even want your own independent appraisal unless you are completely comfortable and confident with the contract price.

ReplyQuote
Posted : April 18, 2017 1:06 am
Alana33
(@Alana33)
Islander

Banks require Appraisals.
They use their own appraisers on rotation, however, you're paying for it.
It's good to have one, if you're paying cash.
It can bring down the bottom line or make you feel confident in your investment. Do your homework. Ask your agent for comps.

ReplyQuote
Posted : April 18, 2017 1:17 am
Gator's Mom
(@Gator's_Mom)
Prominent Member

Banks require Appraisals.
They use their own appraisers on rotation, however, you're paying for it.
It's good to have one, if you're paying cash.
It can bring down the bottom line or make you feel confident in your investment. Do your homework. Ask your agent for comps.

Don't forget a title search and title insurance. Must haves for any real estate transaction.

ReplyQuote
Posted : April 18, 2017 11:29 am
Close Menu
  
Working

Please Login or Register