Buying an island is can be very exciting but a bit more complicated than a typical real estate transaction. It's imperative you know your numbers and do your due diligence. Here's some important tips...
1. Research Your Location - traveling to and from the island for supplies is a major factor, what kind of weather are you seeking?, availability of resources that you take for granted such as electricity, clean water, and food. will you be developing? (you're not going to run into a local Home Depot on the island)
2. Know Your Budget - when you're researching private islands, it's imperative you have a clear understanding of what you can and cannot afford.Your budget should include both the purchase price and extra money that may be required to get your island ready for living.
3. Rent an Island - island living can be great, but it's also not for everyone. You will be making a big investment, some buyers find it very beneficial to rent an island similar to what you're seeking to "test drive" island living.
4. Seek Competent Help - buying an island can become complicated, especially if you're buying in a foreign market with different rules and regulations. Make sure you connect with a real estate practitioner that deals specifically with island purchases, it will save you a lot of time and money throughout the buying process.
A good resource for additional information is the Private Island Buyers Guide below...