Tips for Buying Land

BUYING LAND IN THE TURKS AND CAICOS ISLANDS

Here are our top ten tips when searching for land for sale in the Turks and Caicos

Tip 1 - Ensure the land is in a good location or a location that is set to take off
If you are buying to build or hold, you need to make sure you are buying in an area that has historically held its value, is well serviced (Electric, Water, Telephone, Cable etc.) and has the prospect to increase in value. (Perhaps nearby roads are about to be paved, it is near to or on a good beach, near to or on a canal or generally the take up of property in the area is good).

Tip 2 - Carefully examine the title deed and topographical plan (if provided prior to legal process)
You need to carefully look at the boundaries, shape and location. You will need to identify the roads, buildings and other features. Check to ensure that the sheet/plan/plot/references on the Title Deed are the same as those on the topographical plan. You have to be certain that the land you are looking at is the land in the documents provided by the Seller.

Tip 3 - Carry out searches
Your lawyer should advise you of the most important and appropriate searches to carry out. Certainly an encumbrances search at the Land Registry is required in order to establish that the title to a plot of land is ‘clean’. The search will also tell you if your Land is subject to the rights of other persons, e.g. a right of way or a right to get to the beach through your lot!

Tip 4 - Check out the zoning
The zones determine what can or cannot be done with a piece of land and these can be obtained from planning, although your realtor can assist you with this search.

Tip 5 - Check the ground conditions
A Geological and/or civil engineer’s survey can assist here. You need to be certain that you will be able to build what you want to build on the land, although most of the land is on solid limestone and we have very few examples where it is difficult to build on these islands.

Tip 6 - Get the land checked out by an architect
You certainly don’t want to discover that the plot of land you have just purchased is totally unsuitable for the house of your dreams; get an expert to check it out!

Tip 7 - Get a good lawyer
So many clients are under the (false) impression that buying land is simpler than buying a property with a house. However, as with any transaction involving land, the financial stakes (for most people) are high! A good lawyer will protect you throughout the process and ensure that you don’t make a mistake that could be expensive!!

Tip 8 - Consider access
There may be no access to the land or any right of way over other Land may be insufficient to make full use of the land. You can apply to get a right of way from neighboring plots but you may need to compensate the owners of that land and this can cause substantial delays at the Land Registry. It is better to insist on the seller sorting the access before you buy or simply look for an alternative lot.

Tip 9 – Obtain the initial feedback of a contractor
We believe it is important to ask a contractor to visit the site with you as they are experienced and can give you some good ideas on the likely costs you will be looking at, once they have an idea on what style and quality of property you are looking to build. They will also be able to give you guidance once they have seen the topography. A low lying site may require some fill which can be a costly exercise or you may have a lot that has a sudden drop in topography and a retaining wall could be required, which again can be costly. Most good contractors will give you this time which will give you the necessary comfort you require to start making your plans. The same applies for the architect above.

Tip 10 – Make an Offer if you feel the lot is priced too high or it is over your budget
You can buy a one acre lot from $75,000 to $3m. Many people do not bid on parcels they like, as they believe that it is not quite within their budget or that it is indeed too expensive. If you are serious about buying some land on the Turks & Caicos Islands and you find the right parcel which is more than you wanted to pay, then make an offer (within reason). The best deals are those that have been well negotiated! We can help you with this.

By Simon Padgett, Broker RE/MAX Elite

Building Tips

Building on a Caribbean Island can be a daunting task. Often the thought of managing such a huge undertaking from a great distance is enough to discourage all but the experienced developer. However, with a little research, and the right project team the whole process can be hassle free and an extremely rewarding experience.

There are two main methods of construction within the Turks and Caicos Islands:

Design and Build

By choosing the design and build route the client utilizes the experience of the general contractor at an early stage to help develop the design, liaise with planning submissions, advise on construction methods and design choices, advise on budget, manage the project, and construct your home. By appointing the Contractor early in the project, time savings can be achieved by overlapping the design and construction period. The design and build route allows the client to have as much or as little involvement in the construction of there home as suits their lifestyle whilst putting added responsibility onto the Contractor.

Traditional Build

By choosing the traditional route of construction the client appoints an architect who will generally be the first point of contact throughout the project. The Architect will then undertake the initial outline design, taking account of the client’s tastes and budget. This design will then be developed over the coming months, to the point where it is ready for submission to the Physical Planning Department. The speed of the overall approval process depends heavily on the completeness of the overall submission and the pro-active approach taken by the Architect. Once the design is sufficiently progressed the architect will issue the drawings to a contractor who will provide a price and timescale to construct your home. The Contractor will be capable of assisting with final choices regarding finishes and fixtures and will precede to handover the project in accordance with the predetermined timescale.

In general 3-6 months should be allowed for the design process, 1-3 months should be allowed for planning approval and the construction phase can take anywhere from 7-18 months depending on the size of the project.

Turks and Caicos construction
For further information please contact Norstar group Ltd to arrange a free, no obligation project consultation.