Moving to STX  


Dshawng
Posts: 4
(@Dshawng)
New Member
Joined: 2 years ago

Hello
We are traveling to STX in March for the first time with the goals to familiarize ourselves with our new future community (s) and purchase permanent residence.

I have reviewed several real estate agents websites. They all seem very experienced and most list the same properties.

Four questions:
Is this a good time to buy and relocate to STX?

Are the contractors extremely busy and will be unable to help renovate or build new construction?

If yes, what is the general consensus on when the work load will allow for new non-hurricane work? We would like to purchase within April May and relocate in June

Can you recommend the most patient and people person real estate agent?

Thanks

9 Replies
fdr
Posts: 1243
 fdr
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Joined: 11 years ago

It's generally unwise to buy real estate in the Virgin Islands if you've never lived here, and even more foolhardy if you've never even visited before. Rent for at least a year before buying. You'll save a lot of money and likely wind up making a better decision if you do buy.

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Dshawng
Posts: 4
(@Dshawng)
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Joined: 2 years ago

Thank you for your comments.

We have friends and family members that have visited St Croix several times and have shared consistent and similar experiences and recommendations. Of course, that was pre hurricane. And why I appreciate all comments.

I too hope I will fall in love and never want to leave. Have to set goals in order to get things accomplished.

Thanks

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Scubadoo
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It's anyone's guess at when contractors may have completed most hurricane related repairs and renovations. Under normal conditions it can be challenges to line up reliable contractors due to demand. Generally property sellers in the VI are more prone to hold on to properties until they get close to asking price and less prone to negotiate much on price. There is a little more buying/selling activity during high season when there are more visitors on island and touring properties for sale so sellers may be less likely to negotiate terms. There is usually a slight increase in properties going onto the market during around the beginning of high season. So from an availability perspective you might see a few more options during high season as well.

As FDR noted its highly recommended to rent for a year before buying. Properties tend to sell slowly in the VI for reasons stated above. If you decide you'd rather be in another location in another house later it could take many months or years to sell at your price.

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Dshawng
Posts: 4
(@Dshawng)
New Member
Joined: 2 years ago

Thank you
That added information was extremely helpful and provides insight into your market and how to obtain the best deals.

I will look to identify rental options while visiting in March.

Thanks

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terry
Posts: 2552
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Expert
Joined: 14 years ago

FDR is correct. Don't buy without living there for at least a year. BUT if you insist buy my land and build.

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Dshawng
Posts: 4
(@Dshawng)
New Member
Joined: 2 years ago

Point and message received 🙂

Do you have recommendations for a firm/agency to assist me with long term renting options?

Thanks

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Scubadoo
Posts: 2239
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Joined: 5 years ago

Realtors can certainly help with long term rentals as well as purchasing. They may be less motivated to work with you before arriving but you should be able to line some up in advance to meet with you once you're here. ISLAND LIFE REAL ESTATE, Joseph San Martin, Farchette & Hanley, Coldwell Banker are just a few. You should find plenty to look at for rentals and purchases on their web sites.

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terry
Posts: 2552
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Joined: 14 years ago

Chris Hanley at Farchette & Hanley

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speee1dy
Posts: 8734
(@speee1dy)
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Joined: 11 years ago

i know many people who bought here and wish they hadnt. makes it harder to leave when the shine wears off

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