Elias Real Estate - Page 19

BARBADOS

www.barbadospropertynews.com • June - July 2016 • Issue 105

Endorsed by theBarbados Estate Agents andValuers Association Inc.

Vuemont - Page 18

PROPERTYNEWS

The Crane Private Residences - Page 31

FREE& ONLINE

Island Gold - Page 17

Tel: 246 433 9097Email: philip.young@fmc.bb

or ecostructurebb@gmail.comBuilding A Sustainable Barbados

APES HILL LOT J49 - Apes Hill, St. JamesOverlooking the 6th green on the fabulous Apes Hill course, this lot is in the perfect location for building your own customeco-villa. With its stunning unobstructed views of the west coast, island living truly can be achieved.

Lot Size: 15,120 sq. ft. • Asking Price: USD$395,ooo

APES HILL ECO-VILLA - 28 Holders Meadow, Apes Hill, St. JamesThis revolutionary 4 bedroom home has not sacrificed luxury in the pursuit of sustainability. A combination of luxury, qualityand sustainablility that sets the standard for eco-luxury in Barbados.

Lot Size: 25,000 sq. ft. • Asking Price: USD$3.3 million

MALTA - Cattlewash, St. JosephA 3 bedroom, beachfront villa located on Cattlewash Beach. Property also has an additional 1 bedroom cottage. This truly isthe perfect spot to experience the cooling Atlantic tradewinds and relaxing pace of life found on the east coast of Barbados.

Lot Size: 26,698 sq. ft. • Asking Price: USD$2.195 million

SECRET SPOTFor those seeking privacy and nature, this plot of land o�ers lagoon and ocean views with miles of beautiful, pristinebeach close by to stroll on. The perfect place to build an o� grid eco-home and enjoy outdoor activities.

Lot Size: 6.71 acres • Asking Price: USD$975,000

Welcome to the first summer edition of Barbados Property News! It’salso the start of the hurricane season but we do need the odd tropicalwave to give us a drenching and get us back on track from this drought!Here’s hoping!With the summer comes bright colours and fun times as Crop Over

2016 approaches. I encourage you to read our ‘What’s new for summer2016” where some of our popular retailers showcase their newest stockfor the season. So much choice at greatprices!As usual, lots of real estate for sale and for

rent so enjoy having a look through and Ihope you find what you want. The

wonderful Crane Resort and Residences is on our front cover andthey have tempting properties in a beautiful setting that are anexcellent investment. Beava continues to run workshops andencourage agents so don’t miss their update. Remember, we’re online on www.barbadospropertynews.com so tell your relatives andfriends overseas to log on and take a look at what Barbados has tooffer and like our facebook page to see the latest news. Enjoy!

Editor’s CommentsPublisher – Hiltop Publications Ltd,11 Cottage Ridge, St George, Barbados,BB19071Tel (246) 228-9122, Fax (246) 228-0243Email: sportingb@caribsurf.comwww.sportingbarbados.comwww.barbadospropertynews.comwww.caribbeanpropertymag.comwww.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 thispublication have been deemed accurate at thetime of going to print. The views expressed aseditorial are those of the Editor unless statedotherwise. No part of this publication may bereproduced without the consent of thepermission of Hiltop Publications Ltd.

On the Cover: The Crane Private Residences

Pamela Hiles, Editor

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

BREATHE IT ALL IN …

Dover, Christ Church, Barbados, West Indies Tel: 1 (246) 428-9441

sales@oceanhotels.bbhttp://www.oceantwobarbados.com

Imagine, owning an exclusive oceanfront home in Barbados

with all the amenities of a luxury boutique four star resort.

Welcome to Ocean Two Resort & Residences. This unique

Four Diamond Luxury Condominium Resort is quietly nestled

into a secluded corner on Dover Beach, but is just a stroll

away from the restaurants, bars and nightly entertainment in

the St. Lawrence Gap. With the resort combining exceptional

personal and friendly service with chic and stylish suites, the

fabulous resort services, as well as a great location, Ocean

Two Resort & Residences really introduces a new way of

experiencing luxury in Barbados.

LUXURY ONE BEDROOM SUITESStarting at US$400 000

LUXURY TWO BEDROOM SUITESStarting at US$600 000

PRIVATE RESIDENCE CLUBStarting at US$13,000 for one week

BOOK YOUR

PERSONAL TOUR

TODAY

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Feature

For centuries, people aroundthe world have flocked to thesouth eastern shores ofBarbados for their calming,rejuvenating and healingpowers. Since 1887, the spoton which The Crane sits hasbeen renowned as one of themost coveted on the island.

Crane Resorts, theDeveloper and Operator ofThe Crane, has over the yearsgained a global reputationknown for delivering the

world’s best value in luxury shared ownership with fixed pricing,unparalleled residences, and its world-class location. Now, there are a select few, who will be lucky enough to call

the best beach in the Caribbean, “home” as the first ResidentialOwners of Crane Resorts’ newest development, The CranePrivate Residences.Perched on a 70 ft cliff overlooking the pink powdery sand of

Crane Beach, the world-class location of The Crane PrivateResidences has been acknowledged with a growing list ofaccolades including, “Top 50 Places To Go Before You Die”(BBC’s Holiday Programme), and most recently “Best CaribbeanBeach” (USA Today's 10Best Readers' Choice).”Spread across forty acres of landscaped gardens and

pathways, owners will be just steps away from five award winningrestaurants, a full service spa, café, convenience store, fitnesscentre and tennis courts, as well as VIP-style concierge services,and room services from any of the on-property restaurants andmuch, right at their fingertips.

The Smart Investment

What really stands out about becoming an owner at The CranePrivate Residences, is the unique investment opportunity offeredto both Barbadian Nationals and non-Nationals.Barbados offers high year-round rental income generating

potential due to its growing tourism sector - which reported a14.5% increase in long stay visitors through September 2015.Property investors can choose to take advantage of The Crane's

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Residential Ownershipat The Crane Resort –A Smart Investment

extensive vacation rentals experience or rent their residenceprivately, with access to developer marketing materials.Residential Ownership is held in trust with First National

Trustee Company Limited (FNTC) which allows for the benefitsof a deed, with the added advantages that the property can bewilled, transferred, or sold at anytime, easily, quickly and atminimal cost avoiding Property Transfer tax, Stamp Duty andLegal Fees.However, where The Crane truly distinguishes itself in

Barbados and the Caribbean, is in its unique vertically integratedstructure. Unlike most resorts of this caliber, all design andconstruction is kept in-house, and a team of over 400 isresponsible for the day to day operations of administration, foodand beverage, concierge and hospitality, allowing for cost savingsthat provide purchase prices less than half the price ofcomparable West Coast properties. Phase One of The Crane Private Residences is now completely

sold out, with only a few more units still available in Phase Two.The first building is expected to be completed by December,2016. To learn more or to arrange a viewing, please contact an

Ownership Representative at Crane Resorts at (246) 416-6560or email property@thecrane.com.

Residential Ownership at The Crane Resort –A Smart Investment

32

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Big, Bold,Beautiful Summer

- Here we come!This year, it’s all about bright colours! Lovely corals, sea blues,

the ever popular whites – the stores in Barbados are bursting with

new merchandise perfect to brighten up your home just in time

for Crop Over!

One of the best ways to liven things up in the home without

spending a lot of money is to just change up the accessories. If

you have sofas then try throwing out the old throw cushions or

covers! Many of the retailers have lovely new ones in stock with

interesting patterns. It’s incredible what changing the throws and

the rug can achieve. It can create a fresh new look for very little

outlay.

Or how about a beautiful mirror as a centre piece on the wall.

They tend to make the room look larger and are often used as a

focal point. You can never go wrong with this item as a gift! We

feature the Venus Mirror (Blue Oyster Shell) from Archer’s Hall

Design Centre where shells are arranged as petals of a 45inch

round flower. This mirror is feminine, organic, modern and

dramatic all in one. It’s not cheap at $9,405.83 inc Vat but it’s

stunning. Prints can also do wonders and Dwellings have a

beautiful oversixed Palm Canvas at $599.95 that will bring the

outdoors inside! This is only a small taste of what’s available!

Above: Venus Mirror (Blue Oyster Shell)The Venus is available in a wave-like blue hue.Shells are arranged as petals of a 45-inch roundflower. The Venus starts with small shells at themirror’s edge that get larger, up to 12 inches, asthey radiate out from the mirror’s center. TheVenus is feminine, organic, modern, and dramatic. Size: 45” diameter. Price: $9,405.83 BDS VAT Incfrom Archer’s Hall.

Right: Bring the outdoors in with this oversizedPalm Canvas Print $599.95 from Dwellings.

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Relatively new on the market are the trendy outdoor rugs. These

are a great idea with summer approaching and more entertaining

being done outdoors with the kids off school and crop over parties

etc. They are built to last and many of them are weather proof.

They look amazing. And the good news is they are reasonably

priced . If your home has wooden verandahs they are perfect for

lifting the dark timber flooring. They are available from Designer

Décor, Natz and Dwellings.

In the bedroom, why not try some new bedding? As you can

see, there are some colourful bold bed sets newly in stock at

Walker’s World(priced from $199.95) and Ashley Home Stores

(Fairholm bedding set shown from $449.95- Queen size) and

guaranteed to spruce up the place you spend the most time! We

need to change up things in our lives sometimes to get a different

perspective and it can be done without too much expense or

disruption.

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Above: Multi Blue Floral 5 x 8’ Indoor – Outdoor Rug$852.05 from Natz.

Left: Bedding: Fun bold summery prints. Excitingblues and greens giving the bedroom a fresh twistfrom Walker’s World.

3636

Add a special coastal accent to your home with something like

the Gold Sea Fan Sculpture. More than a little glamorous, these

large sea fans are molded from real coral pieces, rendering them

incredibly life-like and delicate like a real sea fan from a tropical

reef. They are available from Archer’s Hall at B’dos $215.16 inc VAT.

Or how about a pop of colour to any room with the fab Carey

Console Table at $1599 from Dwellings? This little gem is sure to

get attention!

Take a look around the various stores on the island and you’ll

be surprised at the choice. The buyers travel far and wide,

attending trade shows with exhibitors from around the world to

bring you the best and most varied accessories. Quite often it’s

been said you see things in Barbados you never come across in

some stores in the ‘big’ countries or you have to spend hours

shopping in locations miles apart to get the same choice.

Feature

Above: Gold Sea Fan Sculpture.More than a little glamorous, theselarge gold sea fan sculptures aremolded from real coral pieces,rendering them incredibly life-likeand delicate like a real sea fanfound on a tropical reef. Standingat 12" tall x 11" wide, and perchedon a small black marble base, thesewill be a highlight coastal accent toadd to your home.Size: 11"w x 2.75" (square base) x12" H. Price: $215.16 BDS VAT Incfrom Archer’s Hall.

Left: Give any space a pop of colorwith the versatile Carey ConsoleTable $1,599 from Dwellings

Custom ordering for all your fabric dreamsArcher’s Hall, Queen’s Street, Speightstown, St. Peter. Tel: 422-0400

Open Monday to Saturday 9:00am - 5:00 pmArcher’s Hall, 1 Millhouse Complex, Canewood, St. Michael. Tel: 629-0400

Open Monday to Saturday 9:00am - 5:00 pm

Photograph Courtesy of © Thibaut Inc.

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And if you need help, many of the places here offer interior

design suggestions and have experienced interior designers who

do great work! The service is available in many of the retailers who

advertise in Barbados Property News.

So don’t have the same old same old this summer, go out and

explore and get that fresh fun look for the season!

Stores Featured – Archer’s Hall Design Centre – Speightstown and

Canewood, Ashley Home Store – Haggatt Hall, Designer Décor –

Pine Industrial Estate, Dwellings – Canewood, Natz Home

Furnishings – Williams Industrial Estate, Warrens, Standard –

Wildey and Norman Centre Bridgetown, Walkers World –

Canewood and St Lawrence Gap.

Feature

Above: Glam a coastal room with the elegantMoshe Chandelier $849.95 from Ashley HomeStore.

Left:5x8 Escape Wool Rug – Blue & White CoralDesign; 5x8 Rain Outdoor / Indoor Rug – FloralDesign; 5x8 Rain Outdoor / Indoor Rug – Blue &Yellow Starfish, all from Designer Decor.

Bottom: Decorative 17” Throw Cushion – AssortedColours $73.80 each from Natz.

L O C A L K N O W L E D G E : G L O B A L E X P E R I E N C E

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The Barbados Estate Agents& Valuers Association News

The Barbados Estate Agents and Valuers Association was pleased to host a seminar in conjunctionwith The Financial Intelligence Unit on the Impact of Money Laundering and Financing of Terrorism .This very informative seminar was presented by Ms. Lisa Greaves, Senior Analyst and Ms. ShellyNicholls Hunte Director of the FIU to educated the Real Estate Agents in respect of the impact ofMoney Laundering and Financing of Terrorism (Prevention and Control) Act on the Industry, and thepossible adverse consequences of non-compliance with the provisions of the said Act could have ontheir business, the overall industry and Barbados.The seminar was held On Friday May 13th at Mahogany Ridge, St. Thomas and is part of the

ongoing education provided by BEAVA for their members.The President and members of the Board of Beava wish to thank Ms. Greaves and Ms. Nicholls

Hunte of the FIU and CIBC for their sponsorship of the seminar.Please have a look at at our web-site for a list of our BEAVA members.www.beavainc.com

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and the lower your monthly repayments. So make as big a downpayment as you can while maintaining your other savings andinvestments. What is the Maximum Repayment Term?Most mortgages average from 25 to 30 years, or up to the

borrower’s retirement age. You can however apply for a shorterrepayment term. Remember that the longer the term, the moreinterest you pay overall, even though your monthly payments willbe lower than if you had chosen a shorter term.Interest RatesMortgages interest rates are described as either fixed or variable.

As you would expect, a fixed rate will not change during the specifiedperiod, so you have peace of mind that your monthly mortgagerepayments will remain unchanged during the fixed period. This ispreferred for persons wanting to stick to their budget.On the other hand, repayments for a mortgage with a variable

interest rate may fluctuate. If interest rates rise, then your mortgagepayments are likely to increase.Additional Costs:One should also consider other mortage-related costs. For

example, one should ask whether the financial institution will chargea commitment or negotiation fee? Also ask if you can makeadditional repayments without incurring a penalty fee? There arealso additional costs associated with homeownership which a first-time buyer may not be aware of. Onetime Costs• A valuation report estimates the current market value of theproperty to be purchased. It satisfies all parties that the property isworth the price you are paying, or the amount to be lent.• You will be required to retain a lawyer to act on your behalf inperfecting the mortgage and this will incur legal fees. • New Home Costs can include appliances, furniture, landscapingor a home security system to name a few.Monthly Costs• The Mortgage Payment • Property and/or Life Insurance• Utilities or Maintenance • Condominium Fees

Whether building or purchasing your dream home, or buyingland, property ownership is probably the largest financial decisionyou will ever make. Yes, a mortgage is an enormous commitment,but homeownership gives you the freedom to create the home thatyou’ve always dreamed of! As opposed to renting, you can freelychoose the colours to paint your rooms, own pets, install granite ora rain-shower head to create that spa-like bathroom. Thepossibilities of what you can do with your own home are endless.However, before selecting a property to purchase, or getting yourhouse plans prepared, begin by speaking with a mortgage specialistto consider the best options available to you. The specialist shouldask a series of questions regarding your income, savings, debt andage in order to assess how much a lending institution would bewilling to offer. At the end of your discussion, you should understand whether

you should: 1. Increase your savings for the down payment;2. Consolidate or decrease existing debt;3. Purchase land first, or 4. Buy house & land together. Maintain Good CreditYour credit history will be one of the most important components

in the mortgage approval process. A poor credit rating, obtainedfrom failing to pay your credit card or loans, reduces the possibilityof being approved for a mortgage. So it is wise to pay your debts ontime and in full!What Size House do You Qualify For?What Will Your Monthly Payment Be?In working out an affordable repayment plan, a lender will assess

your income and expenses. It is therefore important to note that theless debt you have, the more you qualify for. Also considered are theinterest rates, repayment term and repayment amount. As a generalrule of thumb, your total monthly commitments should not exceed40 – 45% of your gross salary. The Down Payment Most financial institutions finance from 90 to 95% of the

purchase price. Down payments therefore range between 10 and5%. Generally, the larger your deposit, the smaller your mortgage,

Preparing for Home Ownershipand the Mortgage Application ProcessBy Sagicor Mortgages

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