Do you dream not only of an island getaway but of getting away to your very own island? Good news. It’s actually possible to buy an island, and it may not be as difficult as you think. However, you’ll have to jump through some hoops. Here’s how to buy and island and make it yours.
How to Find an Island
First, you’ll need to find an island that meets your needs. Believe it or not, there are several websites dedicated solely to finding the perfect private island to purchase. You can find private islands for sale via Private Islands Inc. or Vladi Private Islands, or by contacting a realtor who specializes in big-ticket sales.
Additionally, some high-end real estate companies, like Sotheby’s International Realty or Christie’s International Real Estate, list private islands for sale. Locations range from the Bahamas to Turks and Caicos to Italy.
How to Buy an Island: Research
As with any big purchase, it’s wise to do your research before signing on the dotted line. Most private islands for sale are located in the Bahamas, Central American, South America, and Asia. However, you might also find options in the United States or in Europe.
Go into your search with some requirements. You may want to consider price, weather, and the level of existing infrastructure. Meanwhile, will you use your island for solely yourself or commercialize it eventually?
Generally speaking, purchasing an island for private use is a much more seamless process than say, purchasing one for business purposes. However, buying an island with infrastructure already in place can be much cheaper in the long run. Islands without any built-in infrastructure like electricity or existing buildings can drive up costs considerably.
How to Buy and Island: Pitfalls
The island-buying process can be fraught with peril. Buying one too far from the mainland limits access. That can make transporting supplies and using emergency services or medical care difficult.
Additionally, you’ll need to ensure that you can actually build on your private island once you own it. Many countries have different laws and regulations regarding building on a formerly uninhabited island. For example, some countries require that your island be a minimum size in order to build on it. Meanwhile others are governed by environmental law.
Last, consider your island’s climate. Whether a structure will have to withstand extreme heat, cold, or weather events, like hurricanes, will affect your home’s design and likely, cost. For example, building on a hurricane-prone island will definitely affect your bottom line when it comes to construction and insuring the structure once it’s completed.