Davis Island, off the coast of Nova Scotia, Canada, has all the makings of paradise for those seeking a slice of summer solitude. With calming lush forest, an invigorating sea breeze, as well as a waterfront lot to dock your boat, this undeveloped, less-than-an-acre islet needs only a luxurious log cabin to transform into a homey hideaway where only your rules apply. Davis Island also happens to be for sale – for $26,000, or the price of a fully loaded Toyota Camry these days.
The own-your-own-island dream, surprisingly, isn’t as out of reach as one might think. Sure, there are the Rolls-Royces of islands that demand deep pockets: the 681-acre paradise in the Bahamas that is going for $35 million and comes with its own airstrip, six-bedroom home, and postcard-perfect views; the 5.8-acre Red Rock Island near San Francisco’s Fisherman’s Wharf, which surfaced recently on the market for $10 million; Windflower Island, a 2-acre resort retreat located an hour from Napa Valley, for $3.5 million; and Belize’s Savannah Caye (close to $2 million for 25 acres of tropical beauty and the right to call Leonardo DiCaprio your neighbor).
But there is also a 1.2-acre Irish isle for an extremely reasonable $33,000, or the nearly three acres of pristine white sand beaches surrounded by azure waters off the coast of Nicaragua that you can stake your claim on for just $225,000. And for a little more than $500,000, you can call stunning Sunset Keys near Florida home.
Within Reach
One of the greatest misconceptions, according to Farhad Vladi – owner of Vladi Private Islands, headquartered in Hamburg, Germany and Nova Scotia, Canada and arguably the world’s foremost island broker – is that islands are the exclusive territory of the famous and filthy rich. Celebrity island owners like Nicolas Cage, Mel Gibson, Celine Dion, and Julia Roberts are just the ritzy tip of the iceberg, he says. Of the 2,000-odd islands Vladi has sold in the past 35 years, most have fallen between $200,000 and $800,000.
“The average client is a professional – industrialists and managers in companies – they make up about 80 percent of my clients,” says Vladi, who owns three islands himself. “The people who are always in the limelight make up another 10 percent. And then you have some people who have to work really hard to afford a small island. In one case, there was a waiter who had to save up for a long time before he could buy his dream island in Panama for $60,000.” That was 10 years ago. Recently the same waiter got an offer of close to $1 million for the island.
Buoyed by the stress of modern-day living, inflated property prices, and environmental awareness, the demand for private islands is on the rise, industry experts concur. And people buy islands for all sorts of reasons: investment, an exotic escape from mundane city life, even the desire to start a nation – an occasional query Chris Krolow, CEO of Private Islands Online, says he gets (the short answer is “no”). But Vladi says most people take the plunge for emotional reasons. “You get onto an island in an area you like and you realize you’ve more or less total control of what you see, you determine what’s going to happen on your island, you don’t have a neighbor telling you what and what not to do. Like in your home, you start to design the island.”
Add to that a limited supply, and it’s no wonder island prices have been steadily appreciating 10 to 20 percent a year. In some highly coveted regions such as the Bahamas, prices have tripled or more. Richard Branson’s once uninhabited Necker Island-turned-tropical-paradise in the British Virgin Islands, which he reportedly paid $300,000 for in the 1970s, is rumored to be worth over $100 million now.
Despite the upswing in prices, a sea of good bargains abound. “Two areas stand out,” says Alexis Pappa, operations director of Private Islands Online. “The Philippines, for inexpensive tropical isles on a leasehold-only basis, and Nova Scotia in Canada, for temperate, forested islands.” Then there are others in colder climes, such as parts of Europe and Scandinavia, where islands go for five figures.
Do Your Homework
Tempting as it might be, given real estate prices in the Silicon Valley, abandoning your mainland digs for an offshore retreat deserves some serious homework. Buying an island isn’t as straightforward as signing on the dotted line. And oftentimes it’s more complex than buying a home.
While you may have every intention of turning the island into your personal kingdom, bear in mind it’s not a country and is still subject to local laws and regulations. Some countries, particularly in Asia, have strict regulations for foreign ownership and development. Some countries may also require environmental reviews and permits before you can build a home. “Environmental laws are sometimes very strict for islands because islands generally have very fragile ecosystems,” says Krolow. “Governments tend to be more protective of islands that are undeveloped, and if the governments aren’t, there are usually one or two environmental groups that try and buy these islands up or at least make a stink about it.”
While an undeveloped isle allows owners to mold it from scratch to their taste, turning untouched land into paradise can be pricey. And unless one plans to rough it out Survivor-style, they’ll need drinking water, electricity, plumbing, a decent roof over their heads, and transportation to and from the island, though island brokers say technology has negated most of these issues. Prefab homes can be shipped in and set up over a weekend; solar panels and wind generators can be installed for below $30,000; and desalination facilities at about $20,000 will provide fresh water. But if you want to go beyond the basics, the costs can add up. Building on an island, says Krolow, costs 20 percent more than a similar development on the mainland since equipment, materials, and workers have to be shipped in – and that’s assuming waters are not too shallow for a barge. Recounting the experience of a couple who had planned to build their dream home on an island in Nova Scotia, only to find out the barge couldn’t sail through, Krolow says, “The only option was to have the equipment and material brought over by helicopter, which, when you add up the cost, would have ended up costing more than the island. Think about it: $1,000 for an hour, and a helicopter can only lift so much.” When that happens, he adds, the island is “as good as a bird sanctuary.”
Accessibility isn’t the only potential problem with the more remote locales. “Sometimes, for example, in central America, you’ve people living on the island, in which case, you’ve issues of who really owns it,” says Krolow, citing the example of Mel Gibson, who bought Mago Island in Fiji, only to face angry islanders who claimed that their island was sold years ago illegally for 2,000 coconuts. And depending on the region, one might also have to worry about pirates, thieves, and vandals. “In the Bahamas, basically there’s no way around it: you need to have a caretaker, whether that caretaker lives full-time on the island, or lives on the mainland and keeps a regular eye on it,” explains Krolow, whose cabin on his private island near Ontario, Canada was broken into a few years back by what he suspects were playful teenagers. “Some of the islands are so far apart that modern-day pirates can very easily dock.” And a caretaker adds about $50,000 to your island tab.
Which takes one to the costs of maintaining an island. That can run, according to Vladi, anywhere between $10,000 (a simple log house) to $500,000 (a resort with employees). “I can’t really give a general figure because some countries like the U.S. also have very high property taxes. There’s an island we’re about to sell and the property tax is about $100,000 a year, and that’s expensive,” he adds.
And if you don’t want to spend all your days praying to the weather gods, it’s important to study the region’s weather pattern – or risk a hurricane, typhoon, cyclone or tsunami turning your island retreat from cozy to catastrophic.
Take it for a Spin
One of the best ways to get acquainted with an island, Vladi advises, is to spend at least a day and one night there to see if you like what you get. “Look at the beach: Are there sand flies? Are the mosquitoes at six in the evening? Can you live with it? Go around, look at the neighborhood. Do you like the people – because you’ve to deal with them all the time. Are there snakes or swamps?
“These things are extremely important, things you wouldn’t find out if you were just there for an hour or looking at it from a helicopter,” he adds. “Spend a night there, even if it’s in a tent.” Access to medical services, too, should never be compromised.
No matter how glamorous living on an island might sound, it’s not for everyone. More often than not, you have to do everything yourself, from fixing plumbing leaks to setting sail for a case of beer. But conquer all these obstacles and you could be on the way to paradise.
“It’s a dream, something to work towards,” says Krolow. “Think about it. You buy this undeveloped piece of property surrounded by water in, hopefully, a region you really love, and you make something out of it, something you can pass on to your children and their children. It sounds more interesting to me than having your name on the wing of some hospital.”
PARADISE: FOR RENT
A great way to find out if you’re suited for island life is to rent one, says Krolow. It’s also a great way to enjoy idyllic privacy without the hassles that come with ownership. Both Vladi Private Islands (www.vladi.de) and Private Islands Online (www.privateislandsonline.com) offer a host of options, from Robinson Crusoe-type adventures (think tents and campfires) to luxury resorts where you’re literally pampered from head to toe. Prices range from as low as $85 per night for two to $300,000 a week for a group of 24. “There’s really something for everyone,” adds Krolow. “If you sort of think small and big at the same time, spending time with your partner on a private island with good food and wine… I don’t think there’s anything more romantic than that.”
Here’s where you can go to get away from it all:
Florida: Howell Keys
Primitive camping at its best, this rustic 9-acre island offers very little by way of pampering but quite a lot in ways to commune with nature. Diving, snorkeling, canoeing, as well as kayaking are available, but it ends there. Sleep in your own tents, cook your meals over charcoal camp stoves, and shower under the sun or stars. $85 per day for a two-person campsite or $600 per day for the entire island (up to 30 people).
San Francisco: East Brother Island
Spend the evening, albeit with a handful of others, on a historic lighthouse with gorgeous views of the bay and marine life in its surrounding waters. Open year round, this island retreat (meals included) is just an hour’s drive from San Francisco. $350 per couple.
Bahamas: Musha Cay
Bone fish, scuba dive or stay dry with karaoke and billiards on this extravagant getaway with 150 acres of white sand beaches with azure waters, a fleet of pleasure craft (deep-sea fishing boat, wave runners, ski boats, sailboats, and a 9-passenger aircraft), 30 trained staff, including a world class chef, and spectacular sunsets. You and 23 other guests can stay in a manor house on the crest of a hill or a five-bedroom beachside villa. $24,750 - $44,500 per night.
British Virgin Islands: Necker Island
Enjoy Richard Branson’s creation by yourself or with friends in cliffside Balinese-style villas with drop-dead views of the sparkling blue waters. To complete your island escape, this Caribbean gem also comes with a 10-bedroom house, private pools, tennis courts and well-trained staff to see to your every need. $42,500 a day for the entire island, or $21,500 per couple in September and October.
New Zealand: Forsyth Island
At 2,100 acres of South Pacific beauty for about $1,300 a week, Forsyth Island offers breathtaking views, warm, clear waters in the summer, a luxurious lodge that accommodates six to eight, boat trips, guiding tours and the feeling of being the king of the world.
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