This is what $300,000 buys you in Bermuda
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- Опубліковано 4 жов 2024
- Bermuda is a tiny island in the middle of the Atlantic Ocean and home to one of the most expensive real estate markets in the world. Here is a tour of a Bermuda condo I recently purchased for about $300,000
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Great informative video! I need to come check out the place soon. Yeah, in the states average interest rates for a 30 year mortgage came down a lot from it's high around 4.8 in 2019 to a low of 2.6 in 2021. Interest are starting to go up again but I got 3.1. Thanks for the shout-out!
Thanks for clearing that up, trav! Tell kim I said hey!
@@OmarJames what can you get for $450,000? 🤗
@@Summer-zv1tq You can probably get a fixer-upper that needs a *lot* of work judging from my recent looks at property skipper.
I am amazed you found a place that nice for that price in Bermuda . . . amazed!
It was definitely a good find! I had to move quick
Congratulations on your purchase! I stayed in that unit in 2021 for 4 months while working there, was in that apartment for 2 hurricanes too. The Twizzy electrical outlet is there because I asked the owner to install it. Was the fire alarm ever fixed? It used to go off in the middle of the night and he finally just shut it off. The front doors are new, they were solid wood. One of the washing machines leaks like a bugger. The hot tub was never on, the pool is cold. There's a great place to jump in the ocean down to the right at the park bench. When I had a unit on the bottom floor I would drive my bike or Twizzy right to the back door to unload groceries. The view is super duper.
Fire alarm and the washing machine is fixed! Hot tub works but is almost never on because of some condo association related conflicts. Thanks for the electrical outlets! Couple owners with electric cars use them daily
If a shed is BMD 225,000 then you definitely made a great deal!
The view is impressive! Very nice!
👏👏 Congrats! 😉
that shed in a great location tho. Right in the middle of hamilton! 🤣🤣🤣
Congratulations!!! Thank you for sharing Omar. Also another way to pay your mortgage off quicker is to put a lump sum down at the end of the year. I have friends who were able to put down $25k each year and this took 10 years years off!
Great advice!
I really NEEDED to see this video! Great Job and a beautiful investment.
🤗
Good things come to good people very nice place👍
Dude, you are different, than any other guy from Bermuda, and tha is why I dig you...If there was a spot right near you I would buy it...just to hang with you .....
Congratulations!! Very informative! Helpful insight for young budding Bermudians like myself!
Glad you found it useful!!
That's a $5,000,000.00 view!! Good luck with the new home.
I was stationed at the Navy base between 1990 and 1991. I was lucky enough to be able to live off base and rented a one-room apartment, which was part of a larger house. The address was 4 Silk Ally in St. Georges. I believe I paid somewhere between $300 and $400 a month for rent. It had a living room, kitchen, bedroom and bathroom. Bermuda was one of the best places I was stationed during my 20-year career. I hope to go back and visit someday. I plan on watching more of your videos to see how much has changed.
Thanks for watching! $400 month rent seems like a fantasy compared to what people are paying now lol. I hope you make it back one day!
You definitely came to Bermuda at a time when life was able to be lived with just one income... Those days are over with...
I heard the US pulled out because the guys were not behaving very well, and that's an understatement. Was probably after your time though.... US sure left a bunch of garbage on the island, too bad, such a nice place that Coopers point area. NASA is still working there too, they were monitoring space shuttles back in the day. You must have had a great time, such a gorgeous place with interesting landscapes. Not many birds. Were there chickens running all over the place back them?
@@treatmentinprogress5047 I don't recall seeing a single chicken on the island the entire time I was there. The primary reason the base was closed was the collapse of the Soviet Union. The mission of the base was to track Soviet submarines in the Atlantic. When the Soviet Union collapsed the ran out of money to fund their military and many of their submarines were left to rot, unmaintained in their ports. With the threat diminished, the United States embarked on reducing its military and eliminating bases which were no longer necessary. About this same time, I senior enlisted Navy member assigned to NAS Bermuda blew the whistle about how the base had become recreation area for Navy pilots and high-ranking officers. A 60-Minutes investigative news story was produced about the base and that was the nail in the coffin.
nothing like home.. came across your video, very useful advice, is this clear view? damn looks amazing!! very differnt from back in day. spent loads of childhood in that hotel. love the content, and thanks for the knowledge! appreicate it
thanks for watching! you are correct, it's clearview. The entire property was broken up and sold so it's actually a nice little residential neighborhood now.
Congrats on the new place!
Thanks travis!
Absolutely loved this. Wonderful human interest story. Alright Omar.
glad you enjoyed!!
Omar good luck. You are doing the right thing, this is a start to better things. Enjoy you piece of the rock..
Yeah, so far soo good but definitely happy to finally have my own place. much appreciated!!
I think you made a good decision and I’m sure your mortgage is a lot less expensive then paying rent.
Very nice.
It is! I really didn't want the mortgage to be as high as my rent which limited my options but i'm happy with the result. thanks for watching!
Great video. Very informative.
Thank you!
Thank you for this video.
Np!
Great price, great view, get fishing! Good job
Thanks 👍
Thanks for the video man ! awesome
Glad you liked it!
Excellent video! Well needed.
Thank you!
sweet pad my guy....ain nothing better than having something that's your own.
Thanks riddy!
Thats a win bro
Great video! Very information and entertaining as usual:)
Glad you enjoyed!
Thanks for the advice. May just seek advice from you if I'm successful in making a move to Bermuda.
I'm coming to visit you bro!
Lets gooo
Fantastic! That is a solid buy. So happy for you. Views are meh. 😏 Kidding, they are stunning. 👍🏻
🤣🤣 we all spoiled with the views on this rock, that’s for sure. Thanks!!
Great information and video! Beautiful view! Location Location Location
Thanks!
What's a way to find a decent priced apartment? Definitely don't need to live in touristy area or near the beach. Once there's access to public school bus and bus to Front St, I'll be fine. Keep the info coming!
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Here in Venice downtown, Italy, with 300 thousand Euro, you can only buy a small apartment of 60 meters to restore!!! ubep
Congrats!!!!! Can I come visit????
Temple crew can visit anytime! 🤣
If your monthly mortgage is BD$1,400, what's the monthly maintenance fee?
I'd like a standalone, affordably-priced tiny one bedroom house. Are there any in Bermuda? If so, would you kindly state where. Thank you!
I'm no realtor so I have no idea but if there are any, you can't buy it. Affordable housing only availiable to locals.
As for covid, we now know most people do not die fromCOVID, and those who do actually die frombacterial pneumonia because the virus has made their immune system weak.....keep posting dude...
Are you allowed to Air BnB it at any point if you’d like to?
Do you mean in regards to government incentives to first time buyers? I dunno! Hopefully someone can answer. They say you have to live in it for a certain amount of time…but i’m not sure if that counts for short term airbnb rentals. Besides, most of the benefits are bogus anyway, like stamp duty relief. I still had to pay the stamp duty then apply for a refund which is taking 2+ years to process right now. Long story short, I’m not sure but i’m gonna do it anyway lol
Ty
I am Mohamed from Egypt, I am traveling to Bermuda Island, can you help me?
Hey Omar! Can foreigners purchase real estate in Bermuda? Cheers
Hi there. Foreigners can purchase property in Bermuda but there are some rules. For example, they can’t buy anything with an Annual Rental Value (ARV) below a certain amount. Not sure what the limit is but a place like mine would be unavailable.
Thanks for your reply! Your place looks lovely, congrats! Cheers
Houses in Bermuda do not come with central air correct? I know having an AC is expensive and furniture is ridiculous…
Nope. No central air. Not for the vast majority of residential properties, anyway
Is a foreigner allowed to purchase something at that price point?
Nope. The minimum for foreign ownership is somewhere closer to $1M (can’t remember exactly)
In Bermuda, nobody can see you eat a big mac
Sometimes they can 😅
So Omar what are the duty fees for importing your furniture and kitchen utensils? Is it cheaper that way or is it 6 of one 1/2 doz of the other?
Duty on most items is about 20% + shipping fees. I got most of my furniture and other items on island because shipping was a pain during covid. A mix of new and second hand.
Did you say you were saving money because your rent is a couple hundred dollars cheaper but you spent 100k for a down payment plus furniture, etc.? I get what you were trying to do but that was not a good deal.
I said my mortage is cheaper than what I was paying for rent. So monthly expenses were reduced. Not sure what you think i’m trying to do besides buying a condo lol.
Hello, are there any units left. I live in Florida, the last 20 years.
Nope
Are there association dues or property taxes?
Property taxes yes. Association dues meaning condo fees? If so, also yes!
Compare this to the uk
In what way?
@@OmarJames $300,000 will probs get you the cheapest flat
Which part of uk? That’s a wide, diverse space!
Is there work
Iam speak just arabic
Yes
@@jackbaron4628 Please send me your account so I can talk to you
The house 🏠 close to the Atlantic ocean but with the global warming it can lose its value.
Whole island in the same boat unfortunately 😂
@@OmarJames I appreciate if you make a video about global warming consequences in Bermuda.
@@Ahuntsicspotter i’ll see what i can do!
😂😂
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hello mate i would love to contact u