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Joined: Oct 2000
Posts: 761
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I was wondering if anyone can post any positive or negatives about owning a condo on AC. I was only interested in buying a lot, but I would like to hear any comments on any rental programs that have been successful.It might be the way to go until I retire for good. Not retire under the ground though!


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Zeke,
We looked at Bel Shores. They are beautiful, remote, and very strict on their rules. We didn't care for the strictness. If you are going into the renters pool, you have to buy their furniture pkg, and can only spend a certain amount of time there. And you can only have certain items on your patio. My guess is that the return would be good there, but I don't know if you would want those kinds of regulations.
We stayed at the Playador, and I know that they have a couple of units for sale, $89k. That's a great location, and they are much more laid back. We saw several houses that had more than one unit. So that may be something to look into. One building is close to the Yacht Club, 2-2 br and 2-1 br. We had thought we would rent out all but one of the one bedrooms, until we moved down full time. When we talked about it, we decided to move pretty quickly. My thought is that property will go through the roof in the next 2 years---maybe 6 months... Keep in mind too that while property is expensive, building is not.
Hope that helps...
Vicki

Joined: Oct 2000
Posts: 761
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Vicki....Thank you very much. I will be getting to AC from Placencia with my wife on June 6th. We would love to take you out to lunch one day and pick your brain. We are staying at Ramon's and we can meet anywhere that strikes your fancy. Thanks again!


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Joined: May 2001
Posts: 30
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We have owned a condo in San Pedro for about seven years and have very few problems we block out the dates we need to use it and rent it out the rest of the time. Its nice to arrive and have your unit ready and waiting for you and you time there is spent enjoying the island and not having to worry about maintaining the property (painting, landscaping, gen maint etc.) We are in a small establishment with only 5 owners and have had the same maid and maintenance people for seven years. We also have two lots and have considered building but then again a large portion of your time would be spent getting the place ready when you get there and also having to have someone check on it while your away.

hope this information helps

Joined: Nov 2000
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There are a lot of different condo options--You will need to consider your needs in terms of being geared more for rental returns vs personal use. These issues can impact your choice of location, size of unit, size of overall property, ameneties, property management, and price. Feel free to email me at [email protected] or look at www.ambergris-seaside-realestate.com for some current options. Would be happy to meet with you when you're in town.

Joined: Sep 2000
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Lupay, I am curious. You say you rent your condo out when you are not using it. Do the rental fees accrued end up paying for the condo or do you find that you still must put out a certain amount of money every year to cover the costs of the condo?


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Joined: Nov 2000
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How much would it be to built a 1000 square foot house with Palapa Roof and fairly Hurricane prove construction, with finished bathroom, kitchen and plantation shutters. And a nice big deck. How about Pre-Fab houses?

Joined: May 2001
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Suzan, we have been fortunate and have not had to kick in any additional money plus end up making a little over the years. We come down at least 2 times a year but come in off season making our unit available during high season. If you have anyother questions you could email me at [email protected] and I would be happy to answer

Joined: Oct 2000
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Zeke,
We have owned a condo at Coral Bay Villas for a 3 years now and love it. It has truly become our second home (although we only get there 2-3 weeks a year). Can't wait till the kids grow and we can spend extended time there. As for as costs, we have found over the last 3 years that rental income pays for all the expenses plus about 70% of the note payment. The hurricanes have really messed with consistency on renting but hopefully it will be a while before any more serious storms visit. There are lots of variation in how much of the proceeds the owner gets from rental income so that will be an important question to ask before buying. Some places pay the owners a considerably higher share. The condo fees and expenses can vary greatly from place to place also.
That all being said, GO FOR IT. We haven't been sorry for our decision. If you have any specific questions, I'd be glad to answer from one owners perspective. Email me at [email protected]. Good Luck.
ELK


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