Five Places to Look for Properties in Barbados
Hi there
If you’re reading this today it is safe to assume that you are looking for a property. The experience is so new and daunting, and your resources may not seem like enough to guide you. Today’s post will help you to breathe a little easier, by providing five places to look for properties in Barbados. Finding the ‘right’ property is a task in itself and you will have a greater chance of finding the ‘right’ one if you expand the resources which you refer to.
Here are five places which you can reference when you looking for properties in Barbados.
Five Places to Look for Properties in Barbados
Driving Around
Window shopping is not only reserved for special occasions; by going window realty shopping, you’ll be surprised what you find! On public holidays and your off days, take a drive around the areas you desire to reside in to see what’s available.
There are many instances where property owners do not list their properties with a realtor. You may just see a sign on the property which has the owner’s contact information. Write it down! Save it! Whatever; just save the contact information. Locating these properties could result in many hidden gems which are undiscovered by many. Fewer interested buyers means less competition for you!
Walk with a notepad and pen or get your notes app ready to save the contact information for the properties which you are interested in. You can give them a ring that same day.
Realtor Sites
A very common resource, this is the place most persons gravitate to when looking for any kind of real estate to purchase. The internet and by extension realty websites host a wealth of resources for buyers to choose from.
My advice would be to visit as many realtor websites as you can, to increase your references and the increase pool of properties to choose from.
The property market is constantly changing something unlisted today maybe listed tomorrow and perfect for you. If there is an option to subscribe to the realtors mailing list, you should do so to stay abreast of any listings on their site. One great hub which houses many realtors in one spot is www.cariblist.com
Using what you have gained from the websites, get outside, do site visits and contact the realtor. This will help you identify the things you like and do not like in a home, which is so important. It will also allow you to gauge what properties are offered at what a particular price point, giving you points of references to refer to.
Befriending a Realtor
There is nothing like networking and building relationships with individuals, that helps you reach your goals faster in life. This also holds true in the real estate market.
In our previous points, we encouraged you to do house tours and site visits. To do this, you will need to contact a real estate agent. When you do make a viable connection, befriend them (after all it is a win-win situation). Your realtor would be able to better cater to your needs if they know what you are looking for.Let them know what you are looking for in a home and the budget you are working with. Swap contact information to stay in touch.
There may be instances where the realtor has been informed about a property and calls you first before listing it officially on the market, allowing you to be among the first few to make an offer if you so desire. Building out a relationship with your realtor will be well worth the time and energy you save.
One-Stop Shops
A ‘one-stop–shop‘ as we like to call it, is a company which offers house and land packages, some other companies also provide financing. Typically, these companies offer packages where the buyer can choose a parcel of land in a development owned by the company. The land spot is usually reserved by a deposit, and then customers can choose the design/layout of their home from a number of pre-designed plans.
These companies usually work with a construction firm Or an in house team to build your home for you.
Going this route eliminates the need for you to shop around for a contractor to build your home. It also allows you to choose from the pre-designed drawings, therefore eliminating the heavy lifting of figuring out exactly how you want the layout of your home to be.
Some ‘one stop shops’ also offer financing and give you the option to customize your home.
Property Developer Fairs & Lending Institution Fairs
A new development might host a land fair. A land fair/developer’s fair is simply the property developers in a particular area introducing the parcels of land in the development for sale to the public. The fairs are usually hosted in collaboration with lending agencies and other financial institutions.
You may not be ready to purchase a piece of the rock as yet, but try to visit one or two of these land fairs to become acquainted with the process.
You will be encouraged to walk with copies of the relevant documents to have discussions with financers at the fair. If you do not have a mortgage certificate already stating how much you qualify for, they will happy to help. Take a look at our first post Mortgage Certificate – How much do I qualify for?. Knowing how much you qualify for will enable you to take the next step of choosing a parcel of land within the development.
It should be noted that not only developers host land/property fairs. Lending agencies and government-owned entities also host land fairs. My advice is to always be on the lookout for these fairs and come prepared. Prepare beforehand by finding out how much you qualify for, as long as your financial situation does not change.
Other Noteworthy Resources
A couple other places to look which are worth mentioning, are as follows:
- Auctioneers
- Repossessed Properties
- Good ole..Social Media (especially places like Facebook market place)
Conclusion
The search for the right property can be a long and arduous process. Having a wealth of resources to rely on will always make your search easier. We encourage you to use a combination of all these methods to find the ‘right’ fit for you.
Do any other places of reference come to mind for you? If so, leave us a comment below and let us know other places to look for properties in Barbados. Happy hunting!
