How to Buy an Island

Contributor

By eHow Contributing Writer

Article Rating: (6 Ratings)

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.

Difficulty: Moderately Challenging

Instructions

Step 1

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.
Step 2

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?
Step 3

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.
Step 4

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.