How Do You Buy Your Own Island?

Posted on: November 18th, 2009 by Gareth Robinson

Buying your very own island may seem like an impossible pipe dream but I have been led to believe that it is a similar process to buying a house. In other words it is a nightmare, filled with headaches and stress from start to finish! Anyway, if you actually did want to buy an island, how would you go about that exactly?

I reckon this one is owned by the Disney Family

First of all, money and budget is of the utmost consideration. As with buying a house, you check that you will be able to get a mortgage and then you know what value of property you can purchase. Remember, however that there are some differences with buying an island to buying a house. Some people buy properties that are in serious need of a cash injection and complete renovation. The advice would be to avoid following this same process when buying an island. It will be better worth your while to save long term to be able to afford a quality island rather than attempting to be thrifty and ending up with a really low-rate island.

Of course, where the island is located is also a prime consideration. You need to look at the location of the island and the surrounding areas. Where people may dream of a secluded island, people still require civilisation. It is important that there is access to local amenities, including shopping and health care. You also have to consider the view, after all if your island is completely isolated, what is there to look at? And what is the weather like in that location? What is the point in buying an island in a spot prone to rough seas and bad weather?

Make sure you know what you’re buying

The most important thing to consider, however, is water supply. Small islands generally have very little water. Remember, water is a necessity for daily living so if you are buying the island to live on, you will need to ensure there is a water source. If the island you are interested in has a well, you will need to have this checked out to ensure that it is fully operational. Obviously in tropical locales, rainfall will ensure that there is generally a steady stream of water. This is, therefore, another useful source of information – check the rainfall data for the area the island is in. If you are considering living on the island, you can consider the available water against the fact that it is estimated that living part time on an island would require 30,000 to 100,000 gallons of water.

Of course, the climate of your island is also extremely important. Usually islands are classified as tropical, Mediterranean or temperate. Tropical islands are usually located in the area between the Tropic of Cancer and the Tropic of Capricorn. Mediterranean islands, commonly Bahamas, Bermuda, Canaries, etc. are known for their hot weather and limited rainfall. Probably the least popular are the temperate islands which are located in places with typically cold weather.

Once you have your heart set on a particular island there are practicalities that you really must take into account. Most importantly you have to check the access to the island. How much travelling is involved from the nearest airport or country. How long will you spend on a boat travelling to and from your island? The fact is that islands closer to land tend to cost more money as these are more sought after. You also need to consider what your plans are for the island as this will determine how big an island you need to buy.

Next up…anchorage. What, I hear you as? Well, anchorage is an island’s stability to the ground. Quality of anchorage can vary but generally an island is considered to have good anchorage if it is sheltered and has a sandy bottom. It also must have no rocks or coral at the beach and should have deep water access. This is another reason why you should make sure you view the island when the tide is in and out.

Yes, Anchorage, seriously!
You also need to consider what the island looks like. If you dream of a sandy beach island then these are very rare. In fact, it is almost impossible to find an island with a full circumference of beaches. Most islands are quite rocky. If the island you are interested in only has a small beach area, it is also important to consider which direction it is facing, just as you would for a garden when purchasing a house.

Another important point is whether or not there are existing buildings on the island you wish to purchase. If there are then you will probably have to employ someone to look after the island when you are not there. The upkeep of your island is also likely to be more expensive as you will be responsible for the upkeep of the other buildings also. Of course, to be on the safe side, you should also make sure that you have all buildings surveyed prior to making a purchase. No matter what the circumstances on the islands, employing a caretaker is probably a clever way of safeguarding your investment.

Why not get yourself one of these? If you can afford an island….

The necessities are endless but a thorough checklist will ensure a considered purchase. Think about how you will communicate if you were in difficulty. Will you have Internet access or mobile signal?

Of course, the most important necessity is to examine your rights under the land tenure. You need to make sure that you know exactly what you own as often you may think you are buying an entire island but the sale does not include the beach areas, which are government owned. Also, make sure that you have appropriate legal representation, especially with regards to legal documents in a foreign language. You also have to consider whether there are people living on the island already, including squatters, and what your responsibilities or options are regarding them.

OMG they are our new neighbours? Quick, run!!