Barbados Property News - October/November 2018

EE NE FR NLI O &

Royal Westmoreland - Page 6

Island Gold - Page 17

Port St. Charles - Inside back cover

BARBADOS PROPERTY

NEWS www.barbadospropertynews.com • October - November 2018 • Issue 119

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

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Editor’s Comments Christmas is in the air! All you have to do is tune into 104.1 to hear the Christmas music! Seriously, it is a bit soon for all of that but it’s not too soon for you to think of getting your property in shape for the holidays and festive season approaching. We have exciting things highlighted in this BPN so read on!

Tropical Storm Kirk should have alerted everyone to the possibility of a storm and hopefully Bajans have heeded the warning and cleaned up their property. On her visit around the affected flood areas after the passage of Kirk, Prime Minister Mottley reminded Barbadians that the world is changing and to be responsible for keeping their property and neighbourhood tidy and be better prepared. We all have to do our bit.

The hurricane season doesn’t officially end until Pamela Hiles, Editor the end of November so it’s very possible more bad weather may come our way. Read our hurricane tips and keep safe.

Sprucing up your property is a Bajan tradition. Everyone likes to freshen up the outside and inside as Christmas approaches. In the pages of this BPN you will find many ideas that suit all pockets. If you can’t afford to do up the whole room, try changing the accessories, the throw cushions, the rug, a table, a Vase – it’s amazing the difference it can make! On the outside, paint and repair – when I first moved back to Barbados 23 years ago my neighbor gave me some good advise – maintain every year – it’s the easiest way to keep on top of everything! I have found that to be very true.

So stay alert everyone but start your preparations. Barbados is a beautiful place. There are lots of nice properties for sale and rent and at the moment it’s On the Cover: a buyers market. It’s a great place to call home so don’t miss out on this Ashley Furniture Homestore opportunity!

Publisher – Hiltop Publications Ltd, 11 Cottage Ridge, St George, Barbados, BB19071 Tel (246) 228-9122, Fax (246) 228-0243 Email: sportingb@caribsurf.com www.sportingbarbados.com www.barbadospropertynews.com www.caribbeanpropertymag.com www.caribbeanmortgageservices.com Editor/Advertising – Pamela L Hiles Design and Art Direction – 809 Distribution – Hiltop Publications Ltd, Brian’s Print Brokerage Printing – Coles Printery

The Material and editorial contained in this publication have been deemed accurate at the time of going to print. The views expressed as editorial are those of the Editor unless stated otherwise. No part of this publication may be reproduced without the consent of the permission of Hiltop Publications Ltd.

If you would like to advertise in Barbados Property News call Pam at 228-9122 or 232-0692

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The Crane Resort Announces Sale of Timeshare Interests to Hilton Grand Vacations Inc.

M

illennium Investments, owner and developer of The Crane Resort, has completed a multi-million dollar sale of timeshare interests in its 131-yearold Barbados resort to Hilton Grand Vacations Inc. (NYSE:HGV).

HGV is one of the world’s largest luxury timeshare companies with annual sales in excess of US$1 Billion and over 295,000 Club Members.

“Our owners tell us how much they love beach vacations, so we couldn’t be more excited to offer our first Caribbean destination within a world-class resort and a spectacular location,” says Mark Wang, president and CEO, Hilton Grand Vacations.

“This new project is one more way we’re continuing to expand our brand presence and maximize customer experience.”

HGV is acquiring existing one-, two- and three-bedroom suite inventory in phases from Millennium Investments Ltd. for an anticipated total project investment of US$54.6 million over 30 months. That inventory will then become a part of the HGV Club, and the Project will be known as “Hilton Grand Vacations at The Crane,” with Club membership occupancy expected to begin in January 2019.

“We are thrilled that HGV’s first timeshare offering in the Caribbean will be within The Crane Resort,” said Paul Doyle, owner and Managing Director of the property.

“We are confident that our relationship with HGV will bring consistently high occupancy levels, assist in supporting full-time, year-round hospitality jobs at The Crane, and allow us to significantly accelerate our growth in Barbados.”

Millennium Investments Ltd. will continue to own and manage The Crane Residence Club and will provide on-site management services to Hilton Grand Vacations at The Crane. The entire resort will maintain HGV brand standards, and its management and staff will benefit from new training opportunities with this renowned global brand.

Create Compelling Curb Appeal On a Budget

P

roperty owners take pride in their homes but sellers are all about business. They need to attract buyers and get a good return on their investment.

Here are some great tips to up the eye appeal even on a limited budget.

Real estate companies generally feature a key image of the property for sale and it’s all about the ‘face’, in other words the house frontage. Same for online sites. To get prospective buyers to take a closer look, make sure the property makes a good first impression and photographs well. Pay attention not only to the building but its immediate surrounds that will be captured.

Clean & Repair At the very minimum give the property a good clean. Empty over-spilling guttering remove mildew and cobwebs, effect essential repairs and clean off built up dirt and grime.

Freshen Paint is probably the most cost-effective tool to freshen up the property. A new coat of paint can transform a property and bring it back to life. If budgets cannot stretch to the entire exterior, focus on the front.

“Your best weapon in the war against other homes up for sale may simply be a few tins of paint.” - Forbes Spend Wisely Unlike most exterior paint jobs you don’t need to focus on long term durability.

Instead choose a reliable, budget sensitive brand such as Harris Pro Speed Cover that is tintable and is formulated for exceptional spreading and coverage so you can do more with less, or Harris Excel which is very affordably priced and available in a limited colour palette. For more information on Harris Paints products and services visit www.championsofcolour.com

Careful with Colour Don’t steer too far out of the norm for wall colour. Dingy or exceptionally bold colours may turn buyers off. It’s safer to go with colours that have broad appeal. Take a look around the neighbourhood for inspiration. If you want to add a distinctive detail that sets your property apart, add an accent colour to a key feature such as the front door, steps or window shutters, hoods or sills.

Outside the Box Remember to consider those sometimes forgotten areas in your refreshment plans such as fencing, curbs, steps and garage. Pay attention to landscaping. Trim overgrown trees and plants, cut grass, turn beds and arrange pots attractively for a well-maintained look. www.forbes.com Mar 19, 2018, Abhi Golhar. How To Give Your Investment Property Curb Appeal For A Quick Resale.

It’s not over yet Folks!

T

he Hurricane season is but half way through. We have all the way until the end of November! Tropical Storm Kirk did not cause major damage but still disrupted the schools, flooded many areas and generally made Bajans uncomfortable for a few days!

This is just a reminder of some things to keep in mind during the Hurricane Season.

Keep your property clean! Make sure that the branches are cut from around the house and power lines. Clutter can become missiles so remove it!

Have at least two weeks supply of water and food on hand. Many say three days but if there is catastrophic damage as in Dominica last year, two weeks is what you should be aiming for. Buy plenty of non-perishables like granola bars, can food, biscuits, juice etc.

Pets – don’t forget them – get enough pet food for them and if you have to go to a shelter, make sure you can take them. If you can’t try and find someone or somewhere where they can be safe.

Medication - it is vital that you have a minimum two week supply. Keep this in an air tight container. Have a first aid kit on hand.

Store all your valuables ie passports, ATM cards, Birth Certificates etc in a water tight bag or container. Keep these important documents dry and safe.

Know your property and a possible evacuation route should it become essential that you have to shelter below the house or, worse case scenario, leave it! Know where your nearest Hurricane Shelter is, if it can accommodate anyone with a disability etc.

Have you got enough lighting? Candles, flash lights etc. There are many options available from expensive to quite reasonable little LED lanterns.

Ideally, it’s great if you have a gas cooker. However, many of us use electricity. A small camping stove would be very handy and a barbeque. The positive is you could cook what was defrosting in the fridge!

Generators – this is the ideal thing to have in a storm. Don’t wait until the storm is about to hit to rush out and buy one.

Finally – a supply of games – cards, dominoes, scrabble – when the iphone and ipad have gone down, this is a fun way to occupy the family!

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Barbados Valuers Council (BVC) Progress 2018 The Barbados Valuers Council (BVC) has had a very productive year and successfully progressed many of the core aims of our Council.

Firstly, our membership numbers have grown substantially, and we are now a body of almost 40 members. Our aim was to reach out to all practicing valuers on the island and encourage them to join us in our quest to raise the standards of valuation and create an entity that positively directs the profession for both valuers and stakeholders alike.

Our membership categories include Professional, Residential, Student and Trainee. At the heart of our ethos is education and promoting good practice through education, courses and CPD events. As well as promoting education and continuing professional development to our members, we have actively sought to educate our stakeholders including Bankers and Accountants on how to interpret and understand the contents of a valuation report as well as what our minimum reporting standards include.

We have worked proactively with the Royal Institution of Chartered Surveyors (RICS) to adopt their standards and general policies. We have made clear that the accepted valuation reporting standards should be in accordance with International Valuation Standards (IVS).

We have facilitated several events throughout this year which include an event hosted specifically for the Banking community in April. This was an educational event taking our attendees through the variety of valuation purposes, identifying common errors within a valuation report and minimum reporting

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standards. This was well received, and we have also spoken to key personnel in the banks to demonstrate how BVC can assist them and their customers by promoting high standards of service.

In partnership with the RICS, we held a full-day event for our valuers in July to discuss and address common valuation challenges. The RICS Global Head of Valuation; Ben Elder gave a presentation on IVS, reporting standards and an update on topical issues affecting our profession.

We are currently developing a comparables database that our members can access which will hold verified transactional data.

This will assist in one of the singular biggest challenges that valuers on the island face. The availability of this data will greatly streamline the process, aid consistency in valuation reporting and ultimately produce more accurate reports for our stakeholders.

So to recap; the Valuers Council in 2018 has: • Processed applications & interviewed BVC members as well as categorising its members.

• Outreached to the Banking community.

• Held educational events for stakeholders including the Banks and Institute of Chartered Accountants of Barbados (ICAB).

• Outreached to Government Bodies.

• Held CPD Events for our members and the Barbados Real Estate Agents.

• Strengthened our partnership with the RICS. • We are in the progress of developing a comparables database.

• Created a CPD system and a Complaints Handling Procedure.

We look forward to a continued partnership with our members, stakeholders and associates in order to continue our goal of raising valuation standards in Barbados.

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Relocating to Barbados many different things; a new culture, climate, manner of speech and accent, in many cases you even have to drive on the opposite side of the road. So this is a decision that should not be rushed into and not done alone.

When children are relocating with you, choosing the right school is another crucial decision. It is important that you understand the differences in our education system. Ideally, an effort should be made to visit the island on a preview trip about six to eight weeks before the actual relocation and during a time when the schools are not on holiday. This would allow for visits to the schools, the meeting of staff and to start the application process. Barbados Relocation Services also offers assistance with this aspect of your relocation.

The education system in Barbados is primarily on the British system of Primary, Secondary and Tertiary levels before going on to university. However, there is an International school that offers the International Baccalaureate (IB) Program, which would be more familiar to North American students. The differences in the Primary to early Secondary education are not so significant and children do adapt quite easily. The final choice in a school should always see that a child is settled satisfactorily, both academically and socially.

S

o you are thinking of Relocating to Barbados! Well you couldn’t have chosen a more beautiful island to call home.

However, a change to one’s usual routine always brings an emotional response. There is a mixture of excitement, challenge, anxiety and some worry; but with the assistance of Barbados Relocation Services, the process becomes quite a simple and stress free one.

There are two significant decisions to be made that would be key to having a successful transition to Barbados; the first is choosing the right home and the second is choosing the right school should children be relocating with you.

There is quite a wide choice of properties available on the island, from single family standalone homes to multi-family complexes comprising of apartments, townhouses and condominiums. Identifying the type of home your family will need is essential; what amenities should it have? Is it a pool or a large garden that would be more ideal for the lifestyle you hope to have? Do you plan to rent with or without furniture? Are you planning to have a pet? Do you prefer a location close to your work … or better yet … close to the beach? But no matter the need, or the preferences, there is a perfect home waiting for you!

Barbados Relocation Services can assist with your home search. Their local knowledge will prove invaluable in helping you identify your needs. It is also advisable to be explicit in your description of what your expectations are in a home. Your home will become your safe haven, especially when surrounded by so

Some other important tasks to consider are: • Immigration requirements • Work permit requirements • Vehicle purchase or lease • Driver’s license • Opening bank accounts • Insurance • Finding a family doctor • Setting up utilities in your new home (cable TV, water, telephone / internet, electricity) • Club memberships • Staff for your new home (housekeeping, pool & garden caretaker) • Babysitting • Pet importation • Container clearance • Island familiarization tour Excellent knowledge of local conditions will result in a smooth relocation process, so you are encouraged to do as much research as you can and make full use of the services offered, and most importantly … enjoy the island. Welcome to Barbados!

Barbados Relocation Services. www.barbadosrelocationservices.com info@barbadosrelocate.com. Tel: (246) 826-6125

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Real Estate Agents support RSPCA fund raiser

T

he RSPCA Charity Golf Tournament at Rockley Golf Club recently was greatly supported by some of the well known West Coast Real Estate Agents on the island!

Now in it’s second year at the popular 9-hole club, The RSPCA golf tournament is organized by Linda Ridout and a team of very enthusiastic volunteers. Spotted on the greens were Paul Altman from Altman Real Estate, seen here with BPN editor, Pamela Hiles, Shane Johnson and Paul Alleyne from Alleyne Real Estate.

Over $70,000 was raised at this terrific event and it will go towards improving the cattery at the RSPCA. As usual at Rockley, Apres golf was in full swing with a buffet supper, prize giving and Trevor the DJ rocking the place! ansari muhajiri

Sir Paul Altman & Pamela Hiles

Paul Alleyne, Pooka Yhap & Roger Beale

Shane Johnson & Ansari Muhajiri

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