Owning Islands are becoming the fad lately and the reason for this new obsession is totally understandable. Owning one will put you in the company of Microsoft cofounder Paul Allen, Oracle cofounder Larry Ellison, and Virgin Group chairman Richard Branson , who all have Islands.
From wanting to jump on the wagon to being the chief of your own ‘tribe’ or being far away from the distractions of the busy world, there are many reasons you may consider buying an Island.
Be it manmade or natural, buying an island isn’t familiar grounds and you must be well guided before going ahead with such venture.
Before you seal a purchase, consider the following:
Familiarize yourself with the area:
Spontaneity is a good thing but sometimes, we need to seriously think some things through before doing them. One of such things that shouldn’t be decided by the over secretion of adrenaline is making a decision to buy an island. You shouldn’t make purchases influenced solely by a slow day at your desk that had you turning your table globe, looking to randomly buy an island with an unpronounceable name.
If you are serious about purchasing an Island, then you should go to the destination to see if you can stay there.
Many factors have to be considered such as what the weather is like. Many islands are isolated so you may want to find out how accessible basic things are? What is nature like around the area? Is it fierce? Does it get really dangerous? How about security? Is the place secured enough? How much would you be spending to make it habitable? Are there any laws against owning such piece of land? You need to do your homework properly before you make your choice.
To answer all these many questions that may arise, Island expert, Farhad Vladi, the founder of German-based estate agent ,Vladi Private Islands suggested that someone who wants to buy an island should live in the proposed area for at least one week before making conclusions on purchase.
It is expensive:
There are many articles and adverts on Islands that sell really cheap and while you may not break a bank buying the island, you will be spending a lot of money to make it habitable. You would have to specially transport workers that will build your house of have to buy pre fab materials which Money isn’t the problem but I still have to mention that owning an island can be really expensive. From having to fashion out good transportation to running the electricity and a supply of stable water, you will find yourself spending so much than you might have expected.
Be familiar with the laws of the island
Some islands need for you to get and perfect several documents before you can be established as the true island owner. Make sure you find out about all such documents so as not to be dispossessed of your property. Also find out if there are conservation laws that may restrict your structure. What you do not want to happen is to find out after you must have sealed the deal that you cannot put up the kind of structure you want so as not to disturb the ecosystem.
Nicolas Cage, the Hollywood superstar, was shocked to find that he could not add developments to his haven in the Bahamas, because an endangered iguana lived there.
Make enquiries to be sure the kind of building you want to put up is allowed.
What structure are you hoping to build? A resort? A cottage? Whatever it may be, you need to be sure what the laws of the land allow.
If after deep consideration, you consider it a worthy cause, then splurge away.