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Diamonds In The Rough - Real Estate Opportunities In The Southern Bahamas with Cheryl DeGoicochea

Friday, September 21st, 2018 at 10:32am Engel & Völkers Bahamas

Cheryl DeGoicoechea was born and raised in Salt Pond, Long Island where she has been selling real estate for the past 10 years.  Cheryl says not much has changed over that time but that is exactly why her clients like the island.

Long Island is located in the southeastern Bahamas approximately 165 miles from Nassau and 345 miles from the United States.  It is a sparsely populated island of about 3500 with a dramatic landscape of rolling hills, white powder beaches and colorful island settlements.

“Most people who invest on Long Island buy for what it is not and not for what it is,” says Cheryl.  "There are no casinos, crowds, malls or crime. Most people who end up buying a home initially come on vacation seeking privacy and tranquility and end up loving it, they don’t necessarily come looking to buy real estate.  It is very much a lifestyle investment for people looking to disconnect from more hectic and stressful cities,” she adds.

The homeowners end up getting to know one another and build great social networks.  The typical ages are late 40’s to retirement, primarily from the US and Canada with some buyers also from Europe, particularly in the northern end of the island around Stella Maris and Cape Santa Maria. The younger buyers generally work for themselves or own their own companies and stay for months at a time.  The internet connection is very good so you can run your business, have meetings on-line and with daily flights into Nassau and private charters, you can travel whenever you need to. 

Cheryl says there are a few common ingredients that make real estate in Long Island very attractive.  “First you get a lot of land with the majority of homes, one and a half acres is typical which gives you privacy from your neighbours.  Second, most homes are being sold turnkey.  Since it is a lifestyle investment most sellers are leaving everything; cars, boats, gear, you name it. Third, there is the price.  You get so much more here for your money than you would in Harbour Island or Nassau.  Most of all the buyers love the turnkey home where they can move right in.”

The island in recent years has seen a big push in eco-tours.  There are more outdoor activities, kayaks and spear fishermen.  Homeowners and visitors will take boats and planes for a getaway to Great Exuma and San Salvador to further explore the southern islands.   The island is also well known by divers from all over the globe because of our famous Dean’s Blue Hole.  

The supply of turnkey homes is somewhat limited and Cheryl feels local investors should be taking more advantage of the high quality trades and builders on the island since most international buyers are unwilling to build from overseas where they can not manage the process. “If I had some homes in the $400,000-$550,000 range with spacious lots and green space between buildings I feel these would be appealing to buyers,” she adds with confidence.

Here are just a few of Cheryl’s favorite listings:

Sunset House

Stunning beachfront home, beautifully designed and furnished, comes turnkey with a good rental history.


Sunset Beach

Beautiful turnkey 3 bedroom home on a large parcel - good value for property. Great rental income potential. Every room has a beach and sea view.

Turnbull - Turnbull Beachfront Home

2/1  Turnkey Home with oversized double garage.  Silky white sand beach. High rental income potential.  Great value. Room for additional structure.


16 Acres with home on Oceanfront

16 Acres with Beachfront Home - good value for large acreage.  Potential for small residential community.  Property has unique oceanfront cove with tidal pools. Electricity and road in place to the oceanfront.

 

 

 

 

 

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