Buy a Home in St. Croix
News

How to Buy a Home in St. Croix

By: Caribbean Journal Staff - December 19, 2016 - 6:40 pm

It’s one of the most beautiful places in the Caribbean: St. Croix in the U.S. Virgin Islands. And its location means that for U.S. citizens it’s a very convenient place to buy a vacation home or move. To learn more about St. Croix Real Estate and how to actually go about buying a home, we talked to St. Croix real estate expert Amy Land-de Wilde, owner/broker at Coldwell Banker St. Croix Realty.

Why buy a home in the St. Croix?

St. Croix has many special attributes. Americans find comfort in the fact that it is a US territory and so much is familiar and easy to navigate because of that. It is also very beautiful, with crystal clear blue waters, a wide variety of flora and fauna and elevations. We have excellent restaurants and supermarkets. It’s a very warm and welcoming community and people find that it’s easy to get settled there.

What’s the real estate market like right now? 

It is definitely a buyer’s market, but we are experiencing narrowing inventory in some sectors of our market.

croix3

What’s the average price for a beachfront/waterfront home? 

They range as low as $649,900 up to $15,000,000 (Average is $2 million excluding the $15,000,000 property).

What about a condo? 

As of this writing, there are 100 listed condos ranging from $48,000-$1.4 million.  The average price is about $200,000.

croix2

Are there certain areas of St. Croix that are better for buyers right now?

Our prices are very reasonable and much lower than you will see in any resort area of the US on the water especially. Waterfront property is especially such a value right now.

land

How long does it typically take to purchase a home?

If you are paying cash,  you can close your transaction in 30 days. If you are getting a mortgage. It could take up to 120 days.

What are the taxes like?

Our taxes are very reasonable. The mill rate for a residential purchase is .00377

Can I get a mortgage?

Yes, we have a number of mortgage options. You must get your mortgage locally, or you can refinance a property in the states and pay cash on St. Croix. Expect to put between 20% and 30% down for a conventional mortgage–the high side if it is an investment property. We also are able to do FHA and VA mortgages.

What do foreign buyers need to know about buying a home in the St. Croix?

There are no special taxes or fees for a foreign buyer. When the buyer is ready to sell, the government could temporarily withhold 10% of the purchase price until it is determined whether any taxes are owed. Sometimes this can be determined prior to the property closing

Where are you seeing the most interest right now? 

We are seeing the most interest in our condominiums and homes priced between $350,000 and $800,000.

For more information, visit Coldwell Banker St. Croix Realty.

Popular Posts antigua long bay

25 Perfect Caribbean Beaches to Add to Your Summer Bucket List

There’s nothing like a Caribbean beach in summer. The crowds thin out, the winds relax, and the islands start breathing in a different way. The beaches you thought you knew feel new again— stretches of sand once packed with winter […]


The 15 Best Hotels in Trinidad and Tobago, From Hidden Eco-Retreats to Luxury Towers

trinidad and tobago hotels where to stay

From Port of Spain to Tobago’s quiet coasts, these are the places to check in now No two Caribbean islands are quite like Trinidad and Tobago—and no two hotels here feel the same. This is a destination of contrast: Carnival […]


This Marriott All-Inclusive Resort Is Coming to Barbados —  And You Can Book It With Points

new brand for the caribbean

Barbados has long been a haven for adults in search of refinement — the kind of place where luxury and culture blend in quiet, confident harmony. Now, that ethos is becoming the foundation of a new resort concept that aims […]


Related Posts bokit sandwich

The Caribbean’s Best Sandwich Is Made on This Island — Here’s Where to Find It 

I remember the first time I visited Sainte Anne. The little beach town on the southern coast of Guadeloupe’s island of Grande Terre has some beautiful sand, but it’s really most famous for one thing: it’s food trucks. Head to […]


The Aruba Travel Guide: Where to Stay, Where to Eat and What to Do

aruba travel

The adventure, the beach, the food, the happy. Aruba is always one of our favorite destinations, and that extends to travel agents, who are also loving the Dutch Caribbean island right now. Here’s our Aruba travel guide, with everything you […]


Aeroméxico Just Launched a New Daily Flight Between Mexico City and Panama City

new flights between mexico and panama

From the emerald hills of El Valle to the gleaming towers of Punta Paitilla, Panama is a country that defies simple definition — a crossroads of continents, a global hub with a tropical soul. And now it’s more accessible than […]