Perhaps the most common question I get about St Croix is "Can I afford it?" I have known people who could live on $200 a month - and I have known people who needed $200 a day to be happy/comfortable. So it is really difficult to answer that question.
What I can tell you is what housing costs, and give you an idea of food costs, utility costs, etc. Also - it's pretty easy to move here hassle-free. Most things are sold or rented fully furnished - so all you need to bring is a toothbrush and clothes! And you don't need many clothes. It's a very casual place and the weather is consistent - so shorts and a couple of T-shirts - good pair of flip flops - and you're good to go!
Housing costs:
You can get a condo here for as little as $65,000 (there's a great one bedroom - 2nd floor - sea view - for $65,000 at Long Reef - great deal!). The monthly condo fees will range from $250 - $1200 a month. Most times, that fee does cover your insurance - but not always. If you're going for financing, I suggest you avoid condos that are "self-insured" because the bank will require you to get hurricane insurance, and that will be on top of hefty condo fees. Some banks have even decided to not finance those purchases.
A house will cost more. Generally $200,000 is about the least you can expect to pay and at that you will have some fixing up to do. There are a few exceptions - and that's why you need a Realtor! We know the good deals - different areas - and I for one will be completely honest with you.
If you choose to rent - you can expect to pay at least $800 a month - and that won't get you much. I'd say $1500 is about the least you can expect to pay for a nice home or condo. Again -there are always some exceptions out there. You can peruse the inventory of rentals at www.stcroixvacationhomes.com. One of our big employers just laid off 300 people - so rent may be coming DOWN as a result. That's a big hit in our economy and community.
Food costs:
Food costs are higher here than in the states (maybe 25% more?) - and eating out costs more too. Good news is that you can get what you want (not always the case in the Caribbean) - and there are great restaurants!
Living Costs:
Your electricity is going to cost a lot more here -so it's important to get a home that has good breezes and ventilation so you don't have to use AC.
We collect rain water on our roofs so no water fees (except in some condos).
Other things - like phone, internet - are comparable to the states.
Our gas is cheaper here than in the states - I think about $2.21 a gallon now.
If you have specific needs or questions - please feel free to ask. And if you can give me an idea of what "affordable" means to you - perhaps I can give you a better answer.
If you are a first-time home buyer this year, you may be eligible to take a tax credit of $8,000, making it easier to afford to make the financial leap.
Under the federal stimulus package passed earlier this year, first-time home buyers can deduct 10 percent of the cost of a home purchased as your primary residence -- up to $80,000, for a maximum of $8,000 -- from their income tax. It is a refundable tax credit, so if you owe less than your credit, you can get the difference in your income-tax refund. This year's federal stimulus package explicitly offers the tax credit to state residents, but is silent on the territories.
"There has been some concern that because language in the stimulus legislation states that those eligible for the credit include the 50 states and the District of Colombia that the territories are not eligible," Delegate Donna M. Christensen said in a statement from her office. "However, for the Virgin Islands and Guam, the mirror tax makes changes to the�U.S.code applicable to our territories."
If you already purchased a home you can still use the deduction, so long as the purchase was after Jan. 1. If you are considering buying a home, the tax credit is another factor to consider as you budget and determine what you can afford.
There are so many opportunities for buying in St Croix right now - it's almost unbelievable what prices are being offered for oceanfront or oceanview homes. Contact me for some ideas.
The U.S. Virgin Islands and the Virgin Islands Economic Development Authority (VIEDA) were featured on Delta Airlines' In-flight Video during the month of April 2009. That video is now online for you to see at the USVIEDA web site.
The video focuses on the quality of life offered residents of the Virgin Islands, and the generous tax incentives for businesses. Showing the beautiful beaches and blue water, and the historic quaint towns, it makes a strong case for using the US tax benefits while enjoying a Caribbean Island culture. "This video is a great opportunity to create greater global exposure about the Virgin Islands EDC Program," says Mr. D. Jerry Garcia, the Director of Marketing and Public Relations for the VIEDA.
Governor John P DeJongh Jr. is very supportive of business in the Virgin Islands. In his Message from the Governor on the USVIEDA site, he explains,
"My Administration is firmly committed to supporting economic development in the United States Virgin Islands. We boast a strong and rapidly growing economy that is evident with an unprecedented influx of business development to our islands on a daily basis...
"Tax benefits and various incentives are only a part of the reason that one should engage in business initiatives on our beautiful shores. We also offer an educated, multi-skilled work force with a unique and superior quality of life. For service businesses and light, non-polluting manufacturers, our people, lifestyle, natural beauty and our pro-growth policies make the U.S.V.I. a wonderful business location."
While helping many folks research relocation to St Croix, most ask about working or starting their own businesses. If you watch the video, I think you will agree the business climate here is very friendly. Two recent developments - the new rum distillery and approval for Robin's Bay - will bring jobs and economic stimulus. Contact me for a free copy of Relocation to the Virgin Islands, and/or Retiring in the Virgin Islands. Also, you'll find loads of information on my web sites.
Find your dream home at the end of the Rainbow! Located at the end of Rainbow Dr., This home not only offers spectacular views of the valley and sea, but can also provide significant rental income to offset your mortgage! Very comfortable and spacious 3/2 main house with 2 one bedroom apts, or 1 2/2 apartment. Priced below appraisal, this is a lot of house for the money.
Directions: N on 63, pass LaGrange pillars, Next R. R at Shakur's sign. L by bus shanty. L at T. Right at Shakurs (blue/white fence with eagles). L over 'troll bridge.' Last house on L at end of Rainbow Dr.
There are some INCREDIBLE deals on homes in St Croix right now! Here are my picks for best value, best view, best of the best.
1. Where in the world can you buy a waterfront home on the beautiful turquoise waters of the Caribbean? Right here in St Croix! Located in the gated community of Judith's Fancy on a sandy beach, this home is a gorgeous 2-master suite property with a courtyard pool and spacious free standing guest house.
2. Or if you prefer the east end of St Croix (many mainlanders do), then how about a spectacular waterfront home on beautiful Grapetree Bay for only $575,000? It's located next to multi-million dollar homes - and yes, it's dated and needs quite a bit of work - but it is a gorgeous piece of waterfront land, with slab, cistern, septic, and a livable home! $575,000. MLS #08-70. Click to view listing(s) (MLS link good only until May 31.)
3. If you're a north shore lover, there's a great two bedroom split-level waterfront there for $795,000, just a few feet from gorgeous Cane Bay! Island materials tastefully used throughout: coral rock and stone, red cedar tongue & groove, mahogany. Private oceanfront pool $795,000. MLS #07-1509 Click to view listing(s) (MLS link good only until May 31.)
4. If you love the beach, and you want a wow view too, then this house is for you! A comfortable 2-bedroom home with large apartment is set on a landscaped 1.18 acre gentle hillside, is a short distance from Cane Bay beach, and has a gorgeous view of Hamms Bluff and the coast. Delightful pool and shaded gazebo are the places to relax and enjoy the sunset. New granite kitchen with Viking stove is a plus. $625,000. MLS #09-708 Click to view listing(s) (MLS link good only until May 31.)
5. If you need a three bedroom, this home is a short distance to the shores of Cane Bay and Off the Wall Restaurant. Enjoy great views of the sea and sunsets at Hamm's Bluff from the large veranda. The property is also on the north side of the island, with a spacious yard. $649,000. MLS #09-387 Click to view listing(s) (MLS link good only until May 31.)
St Croix prices are so much lower than other Virgin Island locations and the rest of the Caribbean Islands. It really is the best time in a generation to buy here - if you have ever wanted to live by the ocean on an island where it's warm with generous happy people - call or email. There are plenty of other homes to choose from, besides the Best Buys described above.
Last night as I sat sipping a nice glass of wine with my boyfriend - looking a the most beautiful Buck Island view on the island - I realized once again how darn lucky I am to live in this St Croix!
My view from my home in Judith's Fancy is awesome..... I look over a lush valley to see the beautiful blue Caribbean with Buck Island in the distance. Christiansted Harbor sparkles at night - like jewels on velvet.
But Chuck's view from his east end home is a dead-on Buck Island view. It looks as if you could almost touch it. It's an intimate view - whereas the view from my house is expansive.
And then there's my condo on the beach on the west end of St Croix. Talk about up close and personal with the ocean....it's a very intimate relationship with the water there.
Living in St. Croix affords me the opportunity to swim and snorkel a couple of times a day and still get a full 8 hours of work in!
East end, west end, center island. You can't go wrong living in St Croix! It's one of the most beautiful places on earth!
Want to join us? St Croix real estate is a great bargain right now - give me a call/email.
72L Clairmont NB, Frederiksted, VI - 2 acres, now $219,000 This is a gorgeous, very gently sloping ridge top lot. Great location, amazing views, excellent breezes. About 400 feet above the north shore of St. Croix. Very private and yet convenient location. Some owner financing would be considered - Make an offer!
72 L-A Clairmont NB, Frederiksted, VI - 2.56 acres, now $199,000 This is a gorgeous, very gently sloping ridge top lot. Great location, amazing views, excellent breezes. About 400 feet above the north shore of St. Croix. Very private and yet convenient location. Some owner financing may be considered. Directions: From C-sted, R on 80. Lft on Scenic E to top. R at Pillar @ Estate Clairmont. Pass Twilla's Mill house, LEFT at base of ruins (grass rd W/ arrow sign). Follow till you see my 2nd sign on boundary.
Recently, a customer of mine wrote me to tell me that she intended to put off her purchase for several years. She is about 4.5 years away from retirement, and she wants to get her debts paid off and her house sold before she moves here. She's looking at an adorable 2 bedroom 1 bath townhouse I have listed for $174,500 that has no monthly condo fees.
While I certainly respect her decision, I felt I had to point out few things...
1. The market is really good here right now - a BUYER's market. Not sure how long that will last - our gut feel is that it won't last much longer. We (the realtor community) feel the prices are most definitely going to go up as the economy shows some flicker of rebound and as people get tired of seeing their money sit around. Real estate - especially investment property - is still a money maker. And people are ALWAYS going to want to live and vacation in the Caribbean!
2. Interest rates are really good right now. Who knows what they'll be like in a few years.
3. There are very few rental units on St Croix that accept pets. This complex does, which means that it would be relatively easy to find and keep a long term tenant - probably for $1200 - $1500 a month. This would more than cover the mortgage payment.
4. Buying now and using the townhouse as a rental for four years will make it very easy to justify "fixing it up" really spiffy in 4 - 5 years when it's time to take it over to live in.
So - buying now and renting out the unit is a good investment - both financially and for future retirement plans! Visit my St Croix web site for detailed information on the Cost of Living and Investment Considerations. Then contact me to discuss the wealth of opportunities here!
You won't believe this tropical gem! Completely remodeled from top to bottom with custom high-end cabinetry and finishes everywhere! This home is a delight! Has such a great 'island' feel to it. Main house has 2 large bedrooms and baths; large guest apt. has 1/1 with tons of storage and very large kitchen/living area. Across the street from 'honeymoon cove' and in a gated, secure neighborhood.
There are some great pieces of land on the market in St Croix right now - and the prices are the lowest they've been in a long while. If you try to wait till they hit rock bottom, you might miss out. The only way we know the bottom has been reached is when the prices start to go up again, right? And then, it's too late! So come get some ocean view or oceanfront property while the gettin' is good!
Believe me, I would love to personally purchase any of the lots listed below. Here are my picks for Best Land Buys (lot sizes approximate):
1) 1/3 acre (north shore) - great sea view (north shore) near Cane Bay - $55,000. MLS #08-410. VTour
2) 1/2 acre (south shore) - nice sea view on a corner near where the Wyndham is proposed - $55,000. MLS #08-1686. VTour
3) 1 acre (west end) - flat knoll top with panoramic views from Sandy Point to Prosperity - $100,000. MLS# 09-585 VTour
4) 2 acres (west end) - lovely lush rainforest land with A-2 zoning - $95,000. MLS# 08-1391 VTour
5) 2 acres (south shore)- west end (Carlton) - gorgeous beach front lot, with slight elevation that would provide for amazing views in several directions -$349,000. MLS #08-1845 VTour
6) 2 acres (north shore) - amazing panoramic knoll top lots with views to the north - at top of Scenic Drive, which is slated to be repaved soon (and values will likely go up when that happens). $199,000 and $219,000. MLS# 08-1212 VTour and 08-1213 VTour
Don't miss these opportunities to buy land in the Caribbean at these low low prices. St. Croix is the best bargain in the region! Contact me for details.
Kim Lucas, Realtor Coldwell Banker Land-de Wilde Realty 340-626-3758
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Perhaps the most common question I get about St Croix is "Can I afford it?" I have known people who could live on $200 a month - and I have known people who needed $200 a day to be happy/comfortable. So it is really difficult to answer that question. 
The U.S. Virgin Islands and the Virgin Islands Economic Development Authority (VIEDA) were featured on Delta Airlines' In-flight Video during the month of April 2009. That video is now online for you to see at the 
2. Or if you prefer the east end of St Croix (many mainlanders do), then how about a spectacular waterfront home on beautiful Grapetree Bay for only $575,000? It's located next to multi-million dollar homes - and yes, it's dated and needs quite a bit of work - but it is a gorgeous piece of waterfront land, with slab, cistern, septic, and a livable home! $575,000. MLS #08-70. 
3. If you're a north shore lover, there's a great two bedroom split-level waterfront there for $795,000, just a few feet from gorgeous Cane Bay! Island materials tastefully used throughout: coral rock and stone, red cedar tongue & groove, mahogany. Private oceanfront pool $795,000. MLS #07-1509 
4. If you love the beach, and you want a wow view too, then this house is for you! A comfortable 2-bedroom home with large apartment is set on a landscaped 1.18 acre gentle hillside, is a short distance from Cane Bay beach, and has a gorgeous view of Hamms Bluff and the coast. Delightful pool and shaded gazebo are the places to relax and enjoy the sunset. New granite kitchen with Viking stove is a plus. $625,000. MLS #09-708 
Last night as I sat sipping a nice glass of wine with my boyfriend - looking a the most beautiful Buck Island view on the island - I realized once again how darn lucky I am to live in this St Croix!
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