Cottage in Negril - where should I find mine?

[Lola]

I would not be in a rush to purchase here, you really need to look around, check the construction, current condition, yard, neighbors/neighborhood, water supply consistency, etc. Buying property is like getting married; exciting and easy to do, not usually the same if you need/want to sell.

Could you rent until you are ready to look for and purchase the hillside villa? I've been in the same (rent) studio for 5 years now. I love that I can come and go, my things are here, just unlock the door and I'm home. Any problems are the landlord's to see to. I can move anytime, with a reasonable notice. If I owned a place I'd have to deal with insurance, maintenance, security, yardwork, etc., find people who could handle these things while I'm away, and when I come I'd have to spend time on those things too.

True I have no 'asset' by renting, but I also have only 1 reasonable monthly expense, no headaches, can leave it any time, and my money is not tied up in it. What rent has cost in 5 years I'm sure is less than I would have put in to purchase a property and take all responsibility for it.

Just food for thought. Whatever you do, I hope it all turns out great and you and your wife are happy in your own 'home'.

[rocmon]

Thanks for your thoughts Lola, I think you have a very valid point in terms renting!

[Vince]

Agree with Lola, VERY good point!

[JitterBug]

very well said lola!!!
rent, rent and rent!!
and when you really get to know the lay of the land, you will be in a better position to choose your location!!

[rocmon]

Lola, can you share how much you budget for your year round rental unit?

[Lola]

$ monthly rent x 12 = year

Digicel WIFI as I need it ($4K jmd/30 days)
Cable - basic is about $1800 jmd/month x 12
Digicel phone credit, as I need it
Laundry

One factor in renting is whether or not current and water are included, or will you have to pay your own? Mine is included, and we have proved to be 'conservative users' and landlord is happy with the arrangement. I figure he gets a break on utilities and normal wear & tear when I'm not around. Your utility use will always be the unknown to a potential landlord or, it might be to your advantage to have the accounts in your name. Cold water only is common here, but some places have solar or instant hot water.

Best is to come for a few weeks and look at different places. Rent prices are all over the scale, from about $200 usd to more than $1,500+ usd/ month. You don't want the lowest and probably don't need the most costly. My guess is you can find something nice for less than $ 900/month usd including current & water (you or them), and that's on the higher end (not knowing what 'nothing fancy' means for you).

Commit for 3 to 6 months and find out if you like it to stay on or want to look another place. You can get a decent rate for that length of time, especially if its during low season.

Location affects transportation. Point Village is kind of far from the beach and town, and past Out Of Town Pastry on the west end is beyond the regular taxi routes. West end is very convenient, only 1 taxi ride to grocery stores/town (2 to get to the beach). West end has a lot of local bars/shops/restaurants to enjoy within walking distance, mostly local residents, a generous helping of expats/travelers/backpackers, and some tourists. Tourism is the reason we have so many places to hang out, don't knock them too hard

As jitterbug stated, with some long term rental/living experience under your belt, you will have wisdom and experience on your side when looking for your dream property.

[Vince]

I'm like reading this! Thanks!

[rocmon]

spending $10-15k USD annually for accomodations and no capital doesn't really make sense (for me) - with studio apartments around $100k and values finally bouncing off bottom, I'm ready to commit... and if it doesn't work out I have the option to rent it out to people like Lola or just sell it.... but that's just my perspective.

[Lola]

Vince, the sweet spot is probably in the range of $350 - 750. I think Walter rents his for $700/month (that might be for low season), with a/c and better-than-basic furniture etc..

Folks charge what they want to charge; you might think one place is 'not bad' for the money, and then you see another and think wow, this place is better and costs less.