Advisor Cheryl DeGoicoechea was born and raised in Salt Pond Long, Long Island. She has been selling real estate for the past 10 years. Cheryl says not much has changed over that time but that is exactly why her clients like the island.
Long Island is located in the southeastern Bahamas approximately 165 miles from Nassau and 345 miles from the United States. It is a sparsely populated island of about 3500 with a dramatic landscape of rolling hills, white powder beaches and colorful island settlements.
“Most people who invest on Long Island buy for what it is not and not for what it is.” Says Cheryl. There are no casinos, crowds, malls or crime. Most people who end up buying a home initially come on vacation seeking privacy and tranquility and end up loving it, they don’t necessarily come looking to buy real estate. “It is very much a lifestyle investment for people looking to disconnect from more hectic and stressful cities,” she adds.
The homeowners end up getting to know one another and build great social networks. The typical ages are late 40’s to retirement, primarily from the US and Canada with some buyers also from Europe, particularly in the northern end of the island around Stella Maris and Cape Santa Maria.
The younger buyers generally work for themselves or own their own companies and stay for months at a time. The internet connection is very good so you can run your business, have meetings on-line and with daily flights into Nassau and private charters, you can travel whenever you need to.
Cheryl says there are a few common ingredients that make real estate in Long Island very attractive. “First you get a lot of land with the majority of homes, one and a half acres is typical which gives you privacy from your neighbours. Second, most homes are being sold, turnkey. Since it is a lifestyle investment most sellers are leaving everything; cars, boats, gear, you name it. Third, there is the price. You get so much more here for your money than you would in Harbour Island or Nassau. Most of all the buyers love the turnkey home where they can move right in.”
The island in recent years has seen a big push in eco-tours. There are more outdoor activities, kayaks, and spearfishermen. People will take boats and planes for a getaway to Great Exuma and San Salvador to explore the southern islands. The island is well known by divers from all over the globe because of our famous Dean’s Blue Hole. Explore the caves in Hamilton’s or the Shrimp Hole in The Bight.
The market for turnkey homes is limited and Cheryl feels local investors should be taking more advantage of the high-quality trades and builders on the island since most international buyers are unwilling to build from overseas where they can not oversee the process. “If I had some homes in the $400,000-$550,000range with spacious lots and green space between buildings I feel these would be appealing to buyers,” she adds with confidence.
Here are just a few of Cheryl’s favorite listings:
Two luxury homes on a private cove
Solstice and Kaleidoscope, Long Island
$3.2million
Amazing sun-kissed views, seclusion and luxury – the Solstice and Kaleidoscope properties are perfectly-named. The spacious homes are perched on nine acres on a hill above the private cove with 900 feet of waterfront. They will appeal to investors as they are ideal vacation rental properties and together have six bedrooms and eight and a half bathrooms. Solstice is a contemporary three-level home while Kaleidoscope is a traditional design with a small loft. The private cove and cabana can be accessed by the footpath or on a golf cart /ATV. The Tropic of Cancer runs right through the property. They are fully-furnished and are equipped with major services.
Turnkey designer eco-house on cove
Ospreys Nest, Whelk Cay, Long Island
$1.25million
Buyers are sure to flock to Ospreys Nest, thanks to its inspiring views of the Atlantic Ocean and eco-friendly features. The turnkey four-bedroom, four-bathroom designer beachfront home sits on a stunning cove overlooking the Atlantic Ocean. The crescent-shaped cove has a superb, white-sandy beach with clear, turquoise water, protected by its own living reef system. Each bedroom has a private en-suite bathroom, air-conditioning and ceiling fans. The Great Room features a gourmet kitchen, beautiful dining room and family room with flat-screen satellite TV. The spacious outdoor decks are the perfect setting for outdoor living and there is a large outdoor patio, which offers ocean views. Hot water is provided by solar panels on the roof. The garage accommodates two cars. Ospreys Nest offers a great opportunity for rental income.
Four-bed classic beachfront villa –
$1.35 million
What could be better than this fantastic 4-bedroom pink and white villa with wonderful views over Whymms Bight? It includes a private pool on the beach and a guest cottage, so it can be used as a permanent address, vacation property, or as a rental. The villa has a living area, dining room and
gourmet kitchen all with amazing water views. There are 3 bedrooms and 2.5 bathrooms and an office/library and laundry room. The pool, patio, and landscaped tropical grounds are perfect for relaxing and entertaining, which is enhanced by outdoor speakers and a great grilling area. The cottage has a full kitchen, walk-in closet, small office, and full bath. Private patio areas. Extra features include: 20 KW Back up generator, mosquito mister system, solar pool pump, outdoor showers, Sonos stereo system, and a Reverse Osmosis system.
