There is a big misconception about Caribbean homes – they are all very costly, and only the super-rich can afford them. Most people also believe that living in the Caribbean can be very expensive as well.
Even though there is some truth in those claims, the Caribbean can be indeed a very costly place to live in. There are many luxurious properties, which doesn’t mean there aren’t any homes for sale under $100,000.
So, here is our pick of some of the best places for homes under $100K in the Caribbean for those interested in condos and villas with modest budgets.
Samana, Dominican Republic
The Samana region can be found on the northern coast. It is a quiet region with fantastic beaches and a breathtaking landscape. At the moment, there is a good selection of homes and condos under the $100K benchmark. However, that’s not bound to stay like that for too long as the government is pouring a lot of money into developing the local infrastructure and boosting tourism.
Playa Del Carmen, Mexico
There are stunning villas in Play del Carmen, whose asking price starts at just $87.5K. The villas there are family-friendly and include around the clock security. Furthermore, they are surrounded by shops, restaurants, schools, and most important of all, unique beaches. Pretty much everything is within walking distance. Learn more about these fantastic villas at Caribbean Escape.
Tulum is fastly becoming one of the most popular hot spots in Mexico. The entire region there is undergoing a massive construction renaissance. Condo units there offer excellent value for money. Same as in Playa Del Carmen, you have access to all sorts of amenities. The local infrastructure is quite stable, and there is a lot of development going on. People say that Tulum has quite the bohemian vibe, whereas the nearby beaches are unrealistically beautiful. The rental market in 2020 was far from what anyone expected before the coronavirus pandemic. But many believe that will change in 2021.
Bavaro Punta Cana
Each year, approximately 6 million tourists spend their vacations in the Dominican Republic. Almost two-thirds of the six million tourists are stationed in the Punta Cana area. As a result, there is always a high demand for accommodation, especially during peak season, when rental prices are highest.
Condo units start at $99K and are a short walk away from one of the most amazing beaches at Playa Turquesa. Almost anyone that invests in a condo there can take advantage of some rental program. According to local sources, investors can count on yearly returns reaching as high as 8% p.a.
All in All
Investing $100K in a Caribbean villa or condo is way smarter than locking your money in stocks or even some cryptocurrency. Even if you don’t plan to live there, just from renting, you will be able to collect your investment in several years. Then there is the fact that property prices have been rising in the Caribbean for years now. That might of slowdown this year because of the coronavirus pandemic. But, on the other hand, if the property market didn’t slow down, it is not likely that you would be able to find under $100K homes in the Caribbean.