02112019 HOME BUYERS' GUIDE

H ome Buyers’ Guide The Tribune

Monday, February 11, 2019

The Bahamas Source For Homes, Condos, Apartments, Lots & Rentals

Royall Beach Estates Bahama Islands Realty

PAGE 2, MONDAY, FEBRUARY 11, 2019

THE TRIBUNE, HOME BUYERS’ GUIDE

www.grahamrealestate.com | Phone: (242) 356-5030 3A Gemini, Albany

Albany Club Villa

5Bd, 5.5Bth | Fully Furnished 10,729 sq. ft. Lot | MLS: 33387

4Bd, 4.5Bth | Marina Residence Furnished | MLS: 36241

Ref: 22751

$5,250,000

Casa Del Sol - Condo

3Bd, 2 Bth | 3rd Level | Harbour Front Paradise Isl. Dr. | MLS: 25152

Ref: 12678

$785,000

Reduced

903 Columbus Cove

3Bed, 3Bth | Beachfront Townhome Total Size 1,498 sq.ft. | MLS: 34424

$529,000

Ref: 21184

#3603 Venetian West Condo

#82 Sunset Drive

3Bd, 2Bth | Windsor Field Road Fully Furnished | MLS: 35012

3Bd, 4Bth | Port New Providence Pet Friendly | MLS: 35201

Ref: 21943

$4,150,000

Ref: 20244

$7,000 p/m

$4,500 p/m

Ref: 21706

Cape Santa Maria

Cape Santa Maria

Lot B13 | Long Island Beach Front 1.26 Acres | MLS: 21520

Lot B11 | Long Island 1.24 Acres | MLS: 18536

Daiquiri Estate Eastern Road 4Bd, 3Bth | Oceanfront Home Lot: 3.36 Acres | 10,253 sq. ft.

Ref: 19767

$2,600,000

9 Spring Terrance

3Bd, 2Bth | Gleniston Gardens 8,554 sq. ft. Lot | MLS: 36130

Ref: 22715

Now

$295,000

Nebruck House Unit 8A

Sandyport | Condo/Townhouse 3Bd, 2Bth | Furnished | MLS: 35466

Ref: 22181

$3,500 p/m

Lot 21 Cool Breeze

Tarpum Bay, Eleu. | Single Family Lot Lot 9,633 sq. ft.| MLS: 21519

Electricity & Phone Utilities installed and roads are completed

Ref: 9324

Gregory Graham President/Broker

$644,000

Laura Kimble Broker

$430,000

Ref: 6595

June Russell Broker

Dolly Griffin Sales Agent

Sophia Porras Sales Agent

Ref: 9335

Greg V. Miller Sales Agent

$24,000

Kevin Bastian Sales Agent

10B Caves Point

3Bd, 3Bth | Furnished Townhouse Total size: 2,100 sq. ft. | MLS: 34087

Ref: 20919

$875,000

East Section #2-Elevated Hm. Deadman’s Reef, Grand Bahama 2Bd, 2 Bth | MLS: 35212

Ref: 21933

$110,000

Mount Vernon

2Bd, 2Bth | Pet Friendly | Furnished Half Duplex with Pool

Ref: 14133

$1,800 p/m

Lot 2 Tarpum Bay

Single Family Lot | Eleuthera Lot 8,736 sq. ft.| MLS: 21518

Electricity & Phone Utilities installed and roads are completed

Ref: 9331

Delerese Pratt Sales Agent

$17,500

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NO PAIN, NO GAIN

By Mike Lightbourn

IS home ownership worth the cost of a mortgage and the maintenance that will be required to keep the property in good condition?

While many people think it is, others think it will cost less to rent.

While homeownership isn’t cheap, careful planning and understanding the various financing options will give you leverage.

Often overlooked, the most critical ingredient in the process is a well thought out plan.

The first step is to save for a down payment.

Your goal is to use your own money to leverage the purchase.

Aim for a 20% down payment.

This may not be easy, but it will reduce the amount you will borrow. And it will cut interest payments (the total cost of the mortgage payments made over the life of the loan) significantly.

Once you have found a lending institution that offers the best rates and terms, sit down with a loan officer and go over the math with them.

I guarantee, you’ll be surprised at how much you can save.

Educate yourself on the various avenues that are available to reduce the cost of a mortgage.

WHAT DO I MEAN? There are other ways to reduce the cost and life of a mortgage besides saving for a down payment of at least 20%.

For instance, if you increase the frequency of mortgage payments, you’ll save a significant sum of money.

Here’s an example of how it works. Take a loan of $100,000 at interest of 8.5 percent over a 25-year period: • Monthly payment of $805.30 with 300 payments over 25 years. Total interest cost $141,543.38 • Accelerated Weekly Payments (monthly payment divided by 4) of $201.30 over 19.5 years. Total interest cost of $104,870.44 • Accelerated Bi-Weekly payments of $402.60 over 19.5 years. Total interest cost of $105,036.92.

Get a mortgage that will allow you to make extra payments to reduce the principal amount owed and build equity faster.

THE TRIBUNE, HOME BUYERS’ GUIDE

Most banks will allow you to make lump sum payments against the principal amount you owe during the loan period.

This will build equity faster by also reducing the life of the loan, which in turn will reduce the amount of interest you end up paying.

Making weekly (or bi-weekly) payments instead of monthly payments is equivalent to making one extra mortgage payment each year and is well worth doing so if your agreement allows it and you can make these extra payments.

CRAFT A BUDGET Are you prepared to make the sacrifice required to own a home?

An insatiable appetite for consumer goods has driven a lot of Bahamians into terrible debt and property foreclosures.

Under government’s payroll reduction scheme, many civil servants have signed away a shocking 75% of their salary.

The bank ceiling for customer loan to debt service ratio is typically 45 percent. This is the level of cash available for debt servicing on interest and principal payments.

If you want to own a home, you must create a realistic budget and stick to it.

Get pre-approved for a loan so you will know how much home you can afford. If you fail, draft a realistic plan that will Mike Lightbourn is president of put you on the path to home ownership.

Coldwell Banker Lightbourn Realty Search for ways to save towards a down payment.

Share a rental with friends or live with your parents, if pos- outright, providing security for his or her sible, while you save. Get a second job if you can. retirement.

It all boils down to this: What will the tenant do?

Are you prepared to make the sacrifice?

QUESTIONS OR COMMENTS? Email me at: info@cbbahamas.com RENTAL VS. OWNERSHIP It is easier to rent. No question about it. The landlord’s stuck with the cost of maintaining and repairing the property, insurance and property tax.

TO ADVERTISE On the other hand, if the landlord has a mortgage on the CALL: property, the tenant is helping to finance the payments, thus Charles Gaitor building the landlord’s equity in the property.

502-2356 Over time, the value of the property will increase (perhaps or Email: handsomely), if it was bought at the right price and in a desirable location and is properly maintained. cgaitor@tribunemedia.net At the end of the day, the landlord will own the property

Visit Us: http://www.tribune242.com

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UNION WHARF #10-CAC #505

VENICE BAY-CAC #9119

This property is a key redevelopment site, and is per- Beautiful 3 storied home with infinity swimming pool, fect for High-End Retail, Waterfront Dining and Enter- double car garage, driveways, foot paths, patios and tainment, or even Parking. a pool/bar house. The property includes landscaping, fruit trees, a boundary wallwith rails, enclosure on three (3) borders and a private dock. $1,900,000 $17,000,000

MONDAY, FEBRUARY 11, 2019, PAGE 7

THE REEF UNIT #12-CAC #2723

THE CLIFFS UNIT - CAC #104

Standout on your balcony and take in the panoramic ocean and resort views from the 12th floor unit. Top of the line appliances, designer furnishing and Bose surround systems will allow the owner to enjoy priceless privacy combined with total elegance.

The Cliffs at Cable Beach are a new development offering only eleven waterfront 3 bedroom, 3 bathroom units on the Cable Beach strip.

$1,650,000

$1,250,000

CARMICHAEL ROAD-CAC #680

WINTON SUBDIVISION-CAC #3517

FLAMINGO COURT - CAC #300

Great commercial, mixed use building located through Golden Gates #2, off of Carmichael Road.

The building is currently being used as an educational facility, but can easily be converted into retail or office space, with apartment living upstairs. $680,000

Available in the sought after Eastern district of New Providence; this immaculate home with 4 bedrooms on the upper lever and 1 bedroom on the ground level, inclusive of its own closet, powder room and bathroom. $525,000

Flamingo Court Unit #6 is a 2 bedroom, 2.5 bathroom ground floor waterfront unit located on Paradise Island. This 1,500 square feet unit is very well kept with modern furnishings and has its own 30 ft dock slip.

RENTALS

BAILLOU HILL ROAD - CAC #405

Great commercial building located in the heavy traffic flow area of Baillou Hill Road and other major thoroughfares. This building is ideal for commercial retail, having a large open display area, back office warehouse for storage and a private office. $560,000 $405,000

VACANT LAND

Atlantic Drive, Indigo-CAC #3030 - This beautiful, modern home is located in the serene Indigo gated community, in the Western District of New Providence. $7,000

Skyline Heights-CAC #330 - In the peaceful neighborhood of Skyline, this 30,000 sq.ft lot makes for a number of possibilities. The lot is sloped, which means beautiful views of the golf course and partial ocean views. $295,000

Kingfisher Island, Sandyport-CAC #450 - This beautiful, townhouse situated in the desirable and secure gated community, Sandyport and is in close proximity to many beautiful beaches, downtown, fine restaurants, international airport and the multi-billion dollar resort, Baha Mar. $5,000

Coral Harbour-CAC #3599 - Single family canal front lot located on the waterways in Coral Harbour.Lot #60 has 180 feet on the canal and partial bulkhead, the property sits on over 12,000 square feet. $200,000

Estates of Seaview-CAC #410 - Cozy, tastefully furnished 3 bedroom, 2.5 bathroom townhouse located in a secured gated community of Estates of Sea View. $3,800

Soldier Road-CAC #158 - Lot #8 Blue Addition property is located on one of New Providence’s major roads, Soldier Road. Excellent for commercial development. $150,000

Suffolks House, Paradise Island-CAC #28 - This townhouse is located in the private gated community of Suffolks House on Paradise Island and minutesfrom Atlantis, shops and beaches. $2,500

Yamacraw Shore Drive-CAC #1290 - Located in the quiet area of Yamacraw Shores. The area is perfect for single family homes. Located close to beaches and schools. $120,000 Sandilands Village Road-CAC #1840 - Sandilands Village Road Lot #1 is 7,596 square feet, situated to the western boundary in-part at the back of Roberts Used Car and Scrap Metals. $87,000

Venetian West Condo-CAC #2005 - Located in the highly desirable district of western New Providence, steps away from the Old Fort Bay and other luxurious addresses is the beautiful Venetian West. $2,500

Charles Christie President

Cheslie Christie Vice President

Gavin Christie Managing Partner

Elizabeth Mackay Agent

Jessica Thompson Agent

Craig Clarke Agent

Reneika Knowles Agent

Desmond McIntosh Agent

Phillippa Newton Agent

Suzette Darville Agent

sales@cachristie.com | West Bay Street | Tel: 242-326-4800, 242-325-7960 | Fax: 242-326-5684

Chris Adderley Agent

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DEVELOPERS DIRECT COMMERCIAL LAND OFFICE LEASE HOME RENTALS RESIDENTIAL LOTS RESTAURANT SPACE

NEW RESTAURANT SPACE AVAILABLE!

NEW LISTING! Now taking applications for new restaurant in the heart of Sandyport Marina Village! 2,100 sq ft with magnificent waterfront views of the Grand Canal. Floor plans and elevations available for serious inquiries.

Please contact us for more information.

$7,000 per month

16A Royal Palm Cay Stunning Grand Canal views from this charming 3-bed 2.5bath single family home with great garden and dockage. Also offered with 2-year rental guarantee for investors.

Call us to find out more!

$785,000

195 Sandyport Drive 3-bed 3.5-bath end-unit townhome with spacious living areas and lots of storage. Modern kitchen features granite counter tops and stainless steel appliances. Fenced-in garden.

Call us to find out more!

$695,000

www.sandyport.com

Jolika Buckner, Broker

Lot 254 Sandyport Drive This large 9,011 lot is among the more substantial lots in Sandyport. Its corner location is ideal to take advantage of the canal views.

Sandyport includes swimming pools, tennis courts and children’s playgrounds, with restaurants, bank and gym close by.

$395,000 NEW LISTING!

401 Island Lane

3-bed 3-bath penthouse loft with great ocean and canal views. Accessible by private elevator, residents also enjoy access to Sandyport Beach Resort pool and tennis court. Also nearby to gym, bank and restaurants.

Also offered with 2-year rental guarantee for investors. Call us to find out more!

$395,000

6 Coral Beach Spacious 4-bed 4-bath open plan single family home with own beach, dock and generator. Lovely patio area outside is ideal for outside entertaining. Also offered with 2-year rental guarantee for investors.

Call us to find out more!

$1.1 million

Contact: Jolika Buckner, Broker | Work: 327-2425 | Cell: 376-1662 | E-mail: jbuckner@sandyport.com

PAGE 14, MONDAY, FEBRUARY 11, 2019

Calling All BREA Agents This is the ideal spot to feature your exclusive property listings.

AGENT FEATURES

Call 502-2356 For details

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MONDAY, FEBRUARY 11, 2019, PAGE 15

Advertising Contracts are available.

HUGE SAVINGS! ALSO receive FREE SPOTS on The Tribune’s Website. *Restrictions apply

Call 502-2356 or Email: cgaitor@tribunemedia.net

PAGE 16, MONDAY, FEBRUARY 11, 2019

THE TRIBUNE, HOME BUYERS’ GUIDE

Charlotteville Home Go off the grid with this 100% Solar powered home! This well designed 5 bed, 4.5 bath 3,200 sq. ft. home plus Den is finished to the highest quality. Featuring an open plan living and dining area, a modern kitchen with stainless steel appliances, recessed lighting, granite counter tops, hardwood cabinetry and tile flooring. The home is equipped with Energy Star with LED lighting and Energy Star fixtures. Additional features include a den that can be converted to an additional room, central A/C, ceiling fans, walk-in closets, washer and dryer. Residents have access to Charlotteville amenities including access to the community clubhouse, walking paths, playground and 24-hour security.

REF#1796 - Carmen Massoni

$1,500,000

Turnberry Executive Townhome Charming Tower End-Unit, Four Bedroom, 3.5 Bathroom Townhouse within the Upscale, Gated Community of Charlotteville.

Featuring: An open plan living, beautiful new wood tile flooring, modern kitchen with stainless steel appliances, granite counter tops, hardwood cabinetry, upgraded finishes throughout and 22KW Generator! 24/7 Secured Community amenities include open air gazebos, two tennis courts, a volleyball court, lush landscaped gardens and grounds with a unique grotto pool with waterfalls. Enjoy a healthy lifestyle without leaving the community, while bicycling, jogging and walking on the many streets. A Fantastic Location across from Specialty Grocery Store, Fresh Market, along with shopping at the Old Fort Bay Town Centre! Close to Schools, Restaurants and all Airports. Offered Beautifully Furnished! Ref#1861 - Marilyn Ayearst

$4,800 p/m

Chou Close Off McKinney Dr.

Westward Villa, Cable Beach

Hanna Road Duplex

Coconut Cove Condo

Multifamily 9,479 sq. ft. lot is ideal to build your Triplex or Fourplex with ample room for parking. Lot is in close proximity to public transportation, schools and shopping. Ref#1876 - Nikki Boeuf

Charming 2 bed, 1 bath townhome located directly on the Cable Beach strip. If you are looking for a great investment opportunity, this is a must see! The townhome is in need of some upgrades and with a little TLC it can provide excellent rental income. Ref#1581 - Rudy Carroll

Duplex consisting of a 2 Bed, 2 Bath unit and a 1 Bed, 1 Bath unit. Both units are designed with an open floor concept with a spacious living and dining area, kitchen, ceramic tiling throughout, burglar bars and central A/C. Ref#1871 - JC Percentie

Luxury 2 bed, 2 bath, 1,404 sq. ft. condo in new secured gated community, central A/C, quartz countertops, stainless steel fixtures pool and many other amenities. Ref#1859 - Advara Joos

$150,000

$175,000

1 West Business Center

Seaview Drive Townhome

Commercial Unit offering 2,000 Sq. ft. in a newly constructed plaza situated near the exclusive gated community of Charlotteville.

1 West will offer more than 30 new outlets for upscale boutiques and businesses. Lease $3,333 p/m Ref#1833 - Carmen Massoni

Two story 2 bed, 1.5 bath townhome PLUS vacant land with approved plans for 3 additional units. Features include central A/C, granite counter tops, stainless steel appliances and much more. Ref#1822 - Rudy Carroll

$395,000

$475,000

$280,000

Palm Cay Garden Townhome Spacious 2-Storey, 1934 sq ft. Townhouse, 3 Bed, 2.5 Baths with Large Patio and Ocean views. AMENITIES: 24/7 security, Beach, Marina, Fitness Centre, Tennis Courts, plus Clubhouse. Ready for immediate occupancy. REF#1803 - Marilyn Ayearst

$550,000

$359,000

Sandyport Home

Canal front 4 bed, 4 bath plus powder room home featuring walk in closets, gym, private dock, pool, covered patio balconies, stand-by generator and hurricane impact windows and doors.

Ref#1786 - Carmen Masson

$1,140,000

Dunmore Drive – Canal front 2 Bed, 1 Bath, open floor plan, appliances, A/C, laundry facilities and mini docking space. $1,300 Lival Estates – Private townhome, 3 bed, 2.5 baths, 3,000 sq. ft., fully furnished, appliances, split A/C & ceiling fans in quiet community. $2,300 Southwest Caves –Stylish 2 Bed, 2.5 bath fully furnished townhome, washer & dryer, private balcony, cozy den and gated entry. $2,700 West Grove – PET FRIENDLY 3 bed, 2.5 bath, 2,500 sq. ft. townhome, gated community, open floor plan, fully equipped kitchen and pool. $3,700 Turnberry – Charming 4 bed, 3.5 bath, 2,200 sq. ft. townhome PLUS loft, fully furnished, pool, tennis court & stand by generator. $4,800

South Ocean – Single family 13,491 sq. ft. in a secure gated community with utilities in place. $120,000 Opulent Heights – Multi family 6,840 sq. ft. corner lot in developing subdivision near shopping and other amenities. $77,000 Bacardi Road – Multifamily 5,229 sq. ft. lot in an established neighborhood near shopping. Ideal to build a duplex. $68,000 East Street South Lot #41 & #42 – Highly visible commercial corner lot offering 10,000 sq. ft. in a high traffic area. $290,000 Coral Harbour – 2.3Acres, Open Zoned, 10 Lots each 9,900 sq.ft. Potential Gated Community minutes from the airport. $795,000