Life in the islands is about living out of doors. The natural elements are what draw people here and our architecture reflects that interest with emphasis on indoor outdoor living. Even in our most prestigious neighborhood where a one acre lot will cost 1 million +, many of the homes may have only about 2,000-3,000 sq feet of interior living area in the main residence but are likely to have that area or more in outdoor decks, courtyards and pool areas. Many homes will also have a guest or rental apartment on a lower level or as a separate cottage. Neighborhood, view and construction have much more importance in determining property values than interior square footage.
Some of the complexes offer a design suited to extended stays –think retirement!—or full time living with full kitchens and laundry areas and more square footage while others were designed with only short term vacation stays in mind. If your plan is to use the property part of the year and rent it out as a vacation rental the balance, condos on a beach and with amenities such as a pool, tennis courts, and possibly a restaurant will be the best option. As a general guide, one bedroom condos are priced in the $200,000 to $325,000 range; two bedrooms units range between $250,000 and $500,000. There are a few complexes with three and four bedroom units available as well.
Our residential home sites are a minimum one-half acre in size in our lowest density zoning category. Price varies depending on neighborhood, view and grade. There are beautiful, ocean view sites available in the $100,000 to $200,000 price range. Waterfront parcels generally sell in the $275,000 and higher range. Exceptional residential sites e.g., a flat hilltop parcel with a commanding view or a waterfront parcel with small “pocket” beach, sell at a premium. Land, which is appropriately zoned for development, resort or business, is the most costly.
We should compile a list of other marketing reports for this section.