Buying Saint Lucia property can be a both a thrilling and daunting experience and for a first time home owner it’s not without its hassles. There is quite an array of St. Lucia real estate to choose from, and for the first time buyer it can be quite a challenge finding the right property or navigating the buying process. But by no means should this discourage you because this can be quite easy if you know just what to do.

So how do you buy Saint. Lucia real estate anyway?

1. Decide Your Real Estate Needs

Start by deciding your real estate needs. Why do you want to own St. Lucia property? Are you interested in residential or commercial real estate? Do you want a newly built or are you up to the challenge of a renovation? What are your plans for the next 3 to 5 years? You will need to consider what kind of property best suits your life style or real estate investment needs? How much can you comfortably afford? If you’re relying on property financing then a good way to decide on the value of your property is to determine how much you can afford to readily afford to pay towards your loan monthly and over what period you can cover the loan. If possible try to get pre-approved for your loan.

Now that you know what you can afford and what you’re looking for, make a checklist of the features and amenities that constitute your ideal property. You may have to revise that list later, but its a good place to start. Once you’ve decided these basics then you’re ready to start scouting for your property online and one step closer to owning Saint Lucia property.

2. Scout Online Property Listings

Buying property can be one of the biggest investments you may make. So its important to find the property that suits your lifestyle or real estate investment goals. Too often buyers get frustrated and settle for a property they don’t really like. They later suffer from what is known as buyer’s remorse. Thanks to technology, finding your ideal property can now start with a simple search online. It’s best to select a local real estate company since they are likely to have greater insight into the market and new property deals. You’d be surprised how local knowledge goes a long way. If this is your first time looking for property online don’t be intimidated. Simply type “Own St Lucia Property” or “Buy St Lucia Property” into the search engine. Or you can cut through the chase and just check out the OwnStLucia.com Property Listing. Cynosure Inc. has a variety of beach front properties, condos, villas, vacation rental or estate rentals to choose from.

Your checklist will come in handy at this stage. As you view the properties evaluate each one against your checklist and record your findings. Be sure to record the property number and if the website permits add it to your Property Wish List so that you can make inquiries later on. You don’t have to decide on a property right away, but try to limit your final selection to 3 to 5 properties or at least not more than 7 to 10.

Remember that the neighbourhood in which the property is located is critical to your comfort and your return on investment. Make sure the neighbourhood is conducive to your lifestyle or real estate investment goals. Check out properties within the same area to see what they are going for. This will give you an indication if the properties you’ve selected are well priced. Other properties in the area will either boost the value of your property or even devalue it. So it’s important to know what the other houses in the area like and the amenities that exist in the area. But be careful not to simply compare properties based on price but instead focus on their unique features. Comparing bedrooms, kitchens, bathrooms, curb appeal, yard space, additional features and amenities is a good way to evaluate. Ideally a good website will provide sufficient information to help you decide but if the information you require is not available, note your questions or concerns so that you can communicate it to your realtor later.

If you haven’t found the property you’re looking for then don’t settle for second best. You might just run the risk of buyer’s remorse. Instead send an email to your local real estate company, telling them what you’re looking for and ask them to help find you find your property deal. Many realtors would be happy to walk you through a property listing or scout out a new property on your behalf. Sometimes there may be properties that are on their listing but for whatever reason isn’t featured online or may have been right there under your nose and you didn’t know it.

3. Ask Questions, Ask questions, Ask question

Now that you’ve narrowed down your selection, you’re a fewer steps closer to owning St Lucia property. Don’t rush out just yet to select a property. First clarify some of the nagging questions, concerns or curiosities that you may have had while scouting the property listings. Find out as much as you can about each property before you commit to a purchase. Ask questions. How long has the property been on the market? What are the seller’s motivations? This may give you some idea as to how flexible the vendor is likely to be on price. A seller is likely to be more flexible, if the property has been on the market for over 6 months. Find what problems have been associated with the property or the neighbourhood in the past. Was the house previously the subject of a purchase agreement and why did the deal collapse? Was it a problem with the buyer getting financing or did the buyer find out there was something wrong with the property? What problems are associated with the neighbourhood? Try to narrow your property selection to about 3 and at least no more than 5 at this stage.

4. Inspect and Evaluate Select Properties

You’re now ready to physically inspect your select properties. This is a critical component of your property hunt, so bring along your real estate checklist. Again keep a careful log on each property, recording your preliminary assessments on the suitability of each. Carry along a camera and take pictures to remind you of the features and amenities of each.

Look for signs of termite infestation, moulding or other deterioration of the property. Look in the not so obvious places like porches, basements, storage rooms, or beneath bathroom and kitchen sinks. Check the plumbing for leaks, dripping faucets, toilet tank leaks, etc. Check electrical outlets, switches, appliances and furnishes to ensure that they are in good condition. Examine the interior for signs of leaks in walls or ceilings, structure and general condition. Check the exterior surfaces for signs of settling cracks, paint peeling, structural problems or flooding. Make a note of anything that may pose a risk to personal health and safety, or structural defects. Thoroughly examine the property and contract expert services if necessary.

5. Select Your St Lucia Property

Review your pictures, and evaluate competing prices, features and amenities. Consider your personal lifestyle, family needs or investment goals and assess how each property matches up to these. Reflect on your real estate needs and zero in on the property that best meets these needs.

6. Negotiate and Close your Property Deal

Smart real estate investors are buying up prime real estate so they can flip them on the market, so the good ones won’t stay on the market for too long. If you find that property you’re looking for, now is the time to grab it. Your chosen Realtor will be able to guide you through the process of buying St Lucia real estate. Leverage any defects in the property to negotiate the price downwards, but try to keep your offer fair and respectful so that you don’t offend the seller.

Once you’ve agreed a price, let your Realtor or real estate attorney do appropriate searches on the property and reduce all agreements in writing. Make any deposits on the property through your Realtor or real estate lawyer. If there are any circumstances affecting your ability to close the transaction, be sure to incorporate this into the agreement. If you’re an overseas buyer you will need to obtain an aliens land holding license. But this can be a simple process if you follow the application procedures. Your attorney can help you with this.

7. You’re now well on your way to having your very own St Lucia property

St Lucia Real estate companies like Cynosure Inc. are now placing a variety of beautiful bargain properties at your fingertips. A selection of homes for rent, villas for sale, condos for rent, beach front properties, pre-construction developments and vacation rentals are now within you reach and quite affordable. There has never been a better time to own St Lucia property.