Land vs. Homes in the Cayman IslandsDate: 13 Jun 2012
The real estate market seems to focus on the sales of homes. These homes can come in many shapes and sizes. From apartments to villas to large and sprawling estates, these are the types of dwellings that appear to be the topic of discussion in the real estate market. However, these are not the only areas of interest for buyers. Land is also on the rise in purchases, especially Cayman Island land. This is a top market that is not necessarily rooted in the physical structures of homes but in the vision that can come from the barren. Why is this area growing in popularity among those looking for a new place to live? The following explains more.
Cayman Island land, unlike an already constructed home, leaves the buyer with options. They are not confined by the house walls but can create their own. For those with a vision, this can be ideal. The perfect home can be crafted on the lands and it can be exactly what the buyer chooses. This can be a great option for those that are seeking out a special home to meet their needs.
Some homes on the market simply do not take into consideration the special needs that individuals may require, including the amount of room, the accessibility, and so on. Taking a blank piece of land and making it exactly what the buyer wants can allow for these accommodations right from the start. A buyer should remember, though, if looking to resell the home in the future, customising the home on a piece of Cayman Island land should not be exclusionary. That is, it cannot be so highly tailored that it will not find its niche in the market during resale.
Of course, buying land is an investment and requires a vision. The home will not be right in front of the buyer so they have to have the creativity to really make it their own and create what it is they seek. This can take time and money. However, money can also be saved in other ways. Land costs less than a pre-constructed home and the buyer can work at a pace that is right for them, not others. These are just some of the reasons why Cayman Island land purchases continue to grow.
Author: Hannah Keys