Non-Bermudians MAY purchase qualifying properties in Bermuda. In order to be available to a non-Bermudian purchaser a property must have an assessed Annual Rental Value (“ARV”) at or above a set minimum level (in effect disqualifying properties in the middle to lower price ranges). NB: ARV is not a reflection of market value but rather is used as the basis for calculating Land Tax.

Today I am here to announce that Government will be enacting regulations that will lower the minimum Annual Rental Value at which non-Bermudians and non-permanent residents, referred to as ‘Restricted Persons’ may purchase residential property from $153,000 to $126,000. Additionally, we will be reducing the minimum ARV threshold of $32,400 for condos to $25,800.

There are always appropriate steps to investing in real estate.  However, there are also inappropriate steps vendors/landlords can walk down when it comes time to put their property on the market.  In my 23 years of being in the business I see the same mistakes over & over when all they had to do was to listen to the voice of an experienced professional.

“Open Listing” means owner of the property can let as many agents as possible to market his/her property & will pay a commission only to an agent who can find the buyer/renter to the owner. In this case, any agent with the potential buyer/renter can approach owner directly & close the deal, other agents all lose out & get nothing at all.

Outdated Design Features That Need To Go!!

There are some outdated design features that could cause huge problems in your home should you decide to sell or rent it. You may love a particular style, but the majority of buyers & renters might not. You want to grab the attention of the buyer/renter in a positive way. Remember a WOW factor!