How To Buy a House and Land in Trinidad
There are expats who consider Trinidad as a great place to buy a house or piece of land. Although it may seem easy to acquire a property in this mesmerizing island, you still have to ensure that you know how to properly deal with land acquisition since foreign buyers face more challenges compared to local buyers. When looking for house and land for sale in Trinidad, here’s a step by step guide.
Investing in Land in Trinidad and Tobago.
There are numerous reasons why you are considering a house and land for sale in Trinidad. Regardless of your reason, you would want to ensure that the right steps are taken to aquire your property in a timely and cost effective manner.
Average land prices in the north can go for between 800K to 2 Million TTD per lot, depenidng on where it is located. You may get some approved lots as low as 400k in Sangre Grande. Central Trinidad can go between 400k and 750K TTD per lot. South can be around the same or more expensive de pending on if it is close to a major shopping area like Gulf City or C3 Center.
In order to look for a great deal on a house and land for sale in Trinidad, you can find a reputable Trinidadian real estate agency, to see what listings match your requirements. Don’t hesitate to reach out, there are people in your circle who can give you the right reasons to push through with your investment in Trinidad.
Know the reasong for buying land in Trinidad
Is it for a residential home or for investment? Whether the land is for your personal use or for business, you need to acquire the right documents if you are an expat. For instance, you need to get a license first before you can buy property legally here in Trinidad. Likewise, you can’t use the acquisition process to skip getting your residence visa. You are only allowed to stay in the country for 3 months if you won’t extend your permit to stay longer. Your decision to buy should be in line with the purpose of your land.
Get Professional Advice When Purchasing Land
If you can get a lawyer to help you with the acquisition process, the better. Lawyers are the best people you can talk to especially if you don’t know anything about the legal process. But since the fees to hire one are high, there are investors and buyers who hire real estate consultants instead. If you want to save legal costs, you can buy from real estate developers and brokers who have solid licenses and experience in the real estate industry. Good developers and brokers will prioritize your legal needs over their sales. Experienced real estate professionals can also give you useful advice in terms of buying a house and land in Trinidad.
Make the Purchase
When you have decided on that ideal piece of land- make sure there are four parties envolved: a seller, a realtor, your bank and a lawyer. The latter being the most important to securely complete the Convayancing procedure. You can choose from different cities and rural areas where you can invest in. Central Trinidad is an ideal choice if you want to put your investment in the capital of the country. There are also interesting areas such as the southern part and Chaguanas. If you want to purchase a house and land in this place, you should look for potential neighborhoods and secure a spot.