How to Buy an Island
It used to be that only the rich and famous owned car phones and private atolls, but now everyone's got a cell phone and islands can be purchased for less than a luxury auto. It's no big deal at all--search for an island on the Internet, contact its broker, fill out the paperwork, hire Tattoo, and voila`! Your own fantasy island.
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Instructions
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Decide on location. In general, the colder the climate, the cheaper the island. A misty, rocky Scottish isle can be had for a mere $20,000, whereas tropical islands typically start at $1 million. Keep in mind that although you can buy an island, you can't rule it--every island for sale is already part of a sovereign nation, and you're subject to that country's laws.
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Investigate what islands are on the market by searching Web sites such as Private Islands Online and Vladi Private Islands. Contact the owner or broker of each island and ask lots of questions: How isolated and accessible is it? Can it be developed? How are necessities supplied? What is the status of existing facilities and infrastructure for food and water, electricity and fuel?
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Inquire about renting the island before you decide to purchase it. You test-drive a car, so why not take the island for a spin? Many owners rent their island properties for all or part of a year, with prices ranging from $55 (Ilha do Pico, Brazil) to $1,500 (Coupon Key, Florida) a day. A brief stay may show you that your Robinson Crusoe fantasy isn't as romantic as it seemed.
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Before finalizing the purchase, check the ownership policy and political stability of the nation that governs the island. Make sure the government keeps a registry of deeds and guarantees unrestricted ownership. You don't want to lose your investment to a banana republic.
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Tips & Warnings
Canada has more islands for sale than any other nation at prices far below those of tropical isles.
An island broker can also arrange for a manager to safeguard your island while you're away.
Make sure that someone on the mainland knows where your island is and how long you intend to stay--it's not uncommon to be stranded on your own island.
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Comments
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this is where Apriltopia begins... all the change in my jug will be saved for the island fund. feel free to donate :)
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DIngonish
Dec 18, 2006
Warning to those looking to buy an island on the internet: Make sure the broker you work with is licensed! I learned the hard way. A broker I contracted to find me an island assured me he was licensed and that he had sold many islands in the past. In fact this broker even used the name of a very large and prestigious real estate company in front of his name to gain creditability. I lost a lot of money and I have no way of getting it back. Protect yourself! Ask where they are licensed and then call the office of fair trading in that juristiction to verify this claim! Trusted Private Island site on the internet are: Private Islands Online Vladi Private Islands Christies Private Islands Bahamas Damianos Bahamas Trade Winds, Canada I have been researching the idea of buying an island over the last two years and am very knowledgable of the resources available for finding islands. Vladi Private Islands and Private Islands Online are both great resources for researching the islands and both sites work directly with the owners or main listing agents. I -
Nov 22, 2005
I am about to (finally) close on a private island next month. I have been working on it on and off for about 5 years now, including two trips to the island itself. I know this sounds mad, but it's because I had to find a deal. Like most of your readers, I'm not a multimillionaire (I'm just barely a millionaire). Like most things, the less money you have the harder it is going to be to obtain something actually worth having. That having been said, I will close next month on a private Bahamian island complete with beautiful, sandy beach and azure waters and I can't wait! I really think the only reason it has finally all come together is because over the years it has become basically a part-time obsession of mine (hence surfing the web tonight looking for private island content).
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Nov 22, 2005
I am about to (finally) close on a private island next month. I have been working on it on and off for about 5 years now, including two trips to the island itself. I know this sounds mad, but it's because I had to find a deal. Like most of your readers, I'm not a multimillionaire (I'm just barely a millionaire). Like most things, the less money you have the harder it is going to be to obtain something actually worth having. That having been said, I will close next month on a private Bahamian island complete with beautiful, sandy beach and azure waters and I can't wait! I really think the only reason it has finally all come together is because over the years it has become basically a part-time obsession of mine (hence surfing the web tonight looking for private island content).
