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St Croix Houses

(@Chris N.)
Posts: 1
New Member
Topic starter
 

I run a seasonal business in the NY area renting sailboats and we teach sailing. Each year after closing down the business for the season in October and I run a one week trip to the BVI with with my sailing students. I charter a 50 ft boat in Tortola and we sail in the BVI and US VI waters. I have fallen in love with the area and I'm interested in buying a winter home in St. Croix since the real estate prices for a multiple dwelling seem affordable. I already own a two family in NY and do my own repair work. Eventually I would like to open a second sailing school in US VI area but, I would like to buy a home there first to use for myself and rent out.

Why are the prices for homes so much lower in St Croix compared to St Thomas? What are the less desirable ares of St Croix? For example in land vs. waterfront areas. Are there areas to be avoided because of poor utility services (ie. water, electric, waste). If you buy a fixer upper, is there a Home Depot type store in St Croix? Could someone clue me in on the locations in St Croix to be avoided without offending others?

I plan on visiting both St Croix and St Thomas this February while I'm down there sailing on business. Any suggestions as to where to stay on each island?

 
Posted : September 10, 2006 1:30 pm
(@Alexandra)
Posts: 1428
Noble Member
 

St. Croix has not been the tourist/cruise ship Mecca that St. Thomas is and that has delayed the development of the island. We still have LOTS of open space and room to absorb a population increase without overcrowding the island. Over the past 15 years or so, STT and STJ have had serious price increases in their real estate markets. St. Croix has only just begun an upward surge in pricing in the past 18 months and still has quite a bit of room to increase before prices catch up with the rest of the Caribbean.

Development has been slow to begin and we currently have a lack of inventory for purchase. Despite being a seller's market at the moment, there are still some good deals to be found and buyers will gain a lot of equity over the next few years before any of the prospective development projects get up and running and have product coming available for purchase.

St. Croix has several distinct zones, ranging from desert to rain forest. There are areas where there is a high percentage of residency by new arrivals and areas that are predominantly inhabited by life long residents. There are slum neighborhoods and areas of million dollar houses and some middle-class neighborhoods as well.

We don't have Home Depot yet (although one is supposedly going to be opening here and there is already one on STT), but we do have hardware stores where you can get much of what you would need for renovations.

Waterfront is the most expensive land on the island. Knolltop is next, then hillside with ocean views, then inland without ocean views. There is some very steep property for sale and there is level or gently sloping land. The island is large enough to have a little of everything and something for everyone.

You don't need to worry about water service, because you will have a cistern to collect your own rain water for use in your home. You don't need to worry about sewer, because you will have your own septic or sewage treatment system. Everyone suffers somewhat when the WAPA power system goes down and we all are frustrated by the high power rate per kilowatt. You can have a generator at your property to handle times of power outage. A basic system won't cost you all that much but will save your frozen food and keep a fan and lights running.

Where you stay when you visit depends on what you plan to do when you are here. There are a variety of hotels in and out of town and there are also guest houses/B&B's if you prefer. Renting a vacation condo or villa for a week or two is another option. Feel free to contact me directly for further questions/answers if you would like at stcroixhomes@viescape.com

 
Posted : September 10, 2006 10:18 pm
(@trini)
Posts: 4
New Member
 

Hello,

I live in the NY area as well, but I've lived on the Island of St. Croix for a number of years and still have significant ties there. The East end of the island would be ideal for a tourist in St.Croix. Secondly, St. Thomas is very commercial, so one would find the prices there to be a lot hire (homes). Thirdly, if you are looking for complete rest and relaxation, St. Croix is it. St. Thomas is very busy and noisy. Hope u have fun there.

trinismiles :).

 
Posted : September 13, 2006 8:43 pm
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