Summary: The main reasons why owning a home in Grand Cayman is one of the best choices you can make for retirement.
Owning a home in Grand Cayman is one of the best investments you can make towards your retirement. The property can become a part-time residence, you can pass it on to children and it will naturally accrue equity the longer you hold it. Property in Grand Cayman tends to increase for two reasons: the Cayman Islands represent the finest experience in the Caribbean, and it’s very easy to rent property here.
Once you’ve purchased a property here, there are a few things you can do with it. Retirees might spend several months at a time here, but Cayman Islands residential leasing will help recoup costs for upkeep during those months you’re not around. Leasing for long term carries a stamp duty, but once the small fee is paid you won’t accrue property or income taxes.
Short-Term Rental Income
Many visitors book Cayman Islands residential rentals instead of a hotel, because they like the feel of their own space. Property owners typically don’t have to pay stamp duties on these short-term residents, and property management companies can help with some of the advertising to make your property more attractive. Whatever revenue doesn’t go into your savings can go back into the property.
Reinvest for Value
The Cayman Islands have a reputation for being clean, picturesque and modern. The more you put into your property, the more you’re likely to get out of it if and when you sell. Grand Cayman residential property management will help keep your property clean, bug free and may have suggestions on remodel ideas too.
If your property is in its best form when you hand the keys to the new owner, you could get a good return on your investments.
Bio: REM Services offers property management services for residential and commercial property owners on Grand Cayman.