7 Secrets to Owning Your Own Private Island

fun article from coastalliving.com







They're not as expensive as you think, plus more surprising truths about the ultimate coastal fantasy.

Sure, a large and sandy tropical island will seriously set you back (the undeveloped Caribbean isle pictured here is listed at $5.5 million), but some small, rocky islands—like the 1-acre Wohoa Bay in Maine, 30 miles east of Acadia National Park—can go for as little as $40,000.

But be prepared to pay up front.

Banks generally won’t grant loans for the purchase of private islands, because without comparable properties on the market nearby, it’s almost impossible to establish a clear-cut monetary value, explains Chris Krolow, CEO of Private Islands Inc., the largest marketplace for international private island listings and sales.

Existing dwellings rarely affect the price.

A house that might go for $1.5 million elsewhere does not add the same amount to an island’s listing price. If anything, particularly quirky houses can sometimes pull down the final purchase price, says Krolow, because new owners might have different needs for the property.

The hottest spot to buy an island right now is …

the Bahamas or Belize. Both countries are relatively easy to get to from the United States and have the tropical feel that many potential island owners are after. There’s a lot of interest in purchasing Greek islands, but logistical difficulties and bureaucracy usually slow down the process and make people look elsewhere.

Island owners still have to answer to nature.

Owning an island means being responsible for the area’s ecosystem. Anything an owner does—say, getting rid of snakes—could have unintended consequences, such as creating a rodent problem. Krolow advises looking to local regulations on the nearest mainland for guidance.

Tech advances have made island life more accessible than ever.

Krolow notes that new yachting technology is opening up possibilities for private islands. For example, small water desalination units made for yachts are easy to transport and capable of cleaning enough water for single-occupancy residential islands.

The trick to easy maintenance year-round is ... renting out your island.

Even some of the wealthiest owners rent their islands to guests, employing full-time staffs. Doing so ensures that the island is ever-ready for visitors, and that owners won’t be greeted by surprises when it’s their own off-the-grid time. Multibillionaire Richard Branson rents out his property Necker Island, pictured above, starting at $78,000 per night.

2 fun websites to peruse islands for sale:

Islands for Sale Website 1

Islands for Sale Website 2

The One Room That'll Make Buyers Bail, Even If They Love the House

interesting article from realtor.com

The One Room That'll Make Buyers Bail, Even If They Love the House

In my yearlong house hunt, I've toured countless homes, and that first visit is a lot like a first date. It can be going great, right up until you spot your personal deal killer—like a pack of cigarettes in her purse, or white socks with sandals. Check, please!

Same thing happens when shopping for a house: The tour could be going swimmingly until you turn a corner and bam, you see that room that brings the possibility of living there to a grinding halt.

So what is this ominous, deal-killing room? It turns out there are more than one. Peruse the list below for the common offenders—not just my own, but ones that real estate agents have noted make buyers cringe en masse. Hey, it's better to know than not so you can make some changes, right?

The empty room

"Empty rooms can kill a home sale, especially if the other rooms are furnished," says real estate analyst Allison Bethell of New York–based FitSmallBusiness.com.

A room devoid of furniture leaves the buyer wondering what the space can be used for. And any of the room's imperfections will also stand out. If you have an empty room, stage it as an office, extra sitting area, or guest bedroom.

The dark room

One of the biggest turnoffs for a buyer? "A dark room," says Desare Kohn-Laski, broker and owner of Skye Louis Realty in Coconut Creek, FL.

The reason is simple: No one wants to walk into a home and feel like they’re trapped in a dungeon. Even if the rest of the house is flooded with light, one dark room can make a whole house seem dark.

For starters, open all the curtains and blinds before showing a home. If the room doesn't have much light, paint the walls a light color and add a mirror to make it appear larger. Updating the lighting also goes a long way in adding to the brightness of a room.

"Finally, put a plant in the room, because plants need light and buyers often realize this, even subconsciously," says Bethell.

The icky bathroom

A big offender in this category: carpeted bathrooms.

"Just gross," says Janine Acquafredda, associate broker at House-N-Key Realty in New York.

Not only will many home buyers refuse to enter a carpeted bathroom, but "after seeing one, they lose focus on the rest of the house," says Acquafredda. Note to sellers—replace bathroom carpeting with tile!

Another major turnoff? A tub that's seen one too many baths.

"No matter if the home is large or small, expensive or affordable, every woman walks straight into the bathroom and looks at the bathtub," says Kristina McCann of San Fransisco's Alain Pinel Realtors. She advises clients across all price points to refinish a tub if necessary. "Or else someone could think they need to do a complete bathroom remodel."

The cluttered playroom

Think the kids' playroom gets a pass? Hardly.

"If a playroom looks like a cluttered mess, buyers get the impression that the current residents aren’t clean," says Kohn-Laski. Home sellers should make it look immaculate. That includes erasing crayon and marker drawings as well as fingerprints on doors, windows, and walls.


The run-down kitchen

The state of your kitchen—the epicenter of most homes—can be a big-time deal breaker.

"Buyers will think twice if it's too small, has outdated features and appliances, or looks run-down," says Sarah Pickens with Re/Max Advantage Plus in Blaine, MN.

The problem starts when buyers start calculating how much a remodel is going to cost, she says. A quick fix with a lot of visual bang—that won't break the bank—is to swap outdated appliances with newer ones found on priced-to-move sites such as Craigslist.

The stuffy formal living room

Rooms that serve no purpose or do not fit the needs of the homeowners definitely can hurt house sales, says Elizabeth Dodson, co-founder of HomeZada.com. For example, the formal living room of yore was once valued in a home; however, this room serves little purpose today and is more a room to look at than use.

"Instead, transform a living room into a home office, game room, or movie room," says Dodson.

The creepy basement

Spine-chilling cellars can definitely turn buyers away from a property, says Pickens. She was recently touring a house with one of her buyers and came across an empty all-cement room with zero windows.

"The buyer was so creeped out that we left the property," says Pickens. "And he said he would never purchase the house because of that one room.”

Decreep your basement by finding a use for potentially scary windowless rooms (e.g., filling what was likely a canning room with charming Mason jars).

The cluttered closet

I know, a closet is not a room. But lack of storage space is a big deal killer.

Teri Connors, associate broker at Coldwell Banker M&D Good Life in Patchogue, NY, and author of “Sell Your House ... Successfully” was touring a pricey home with her buyers when they opened the coat closet and an avalanche of clothes spilled into the hallway.

"The buyers had one thought: There’s not enough storage space in this home," says Conners, who recommends removing at least two-thirds of the clothes in the closets to give the illusion that there's plenty of space.

This Bidding War Was Won With a Music Video

from youtube and realtor.com...creative story...

Link to Music Video

Natan and Elizabeth Kuchar recently submitted an offer on a home in Berkeley, Calif., but they knew their chances were slim when they were outbid by another buyer by thousands of dollars for a 1929 three-bedroom home. So to make their offer stand out, they included a video of Natan serenading the seller with the song “Our House.”

The Kuchars, who are both teachers, were living down the street in a rental home with their three children when they learned the three-bedroom home was for sale. They wanted to stay in the neighborhood, so they jumped at the chance to purchase it.

But another offer on the home was $20,000 more than what the Kuchars had offered, the couple’s agent Maya Karpinski, who works with Redfin, told them.

“We couldn’t go over; we couldn’t push our number anymore,” says Natan. “So we felt a little deflated.”

Natan, a music teacher who publishes videos for kids on YouTube under the name Mr. Palindrome, decided to turn to music.

“I went to my piano and turned on my camera and decided I was going to record this message [for the sellers], and in essence it was me saying, I don’t have the words to describe how much we want this house to be our home, so instead I’m going to sing to you this Crosby, Stills, Nash & Young song, ‘Our House,’ and that was it,” Natan says.

The sellers are big music fans, which Natan knew. But unknowingly to him, the sellers had sung that very song to each other the first time they had lit the fireplace in the house. After seeing Natan's video, they instantly accepted the Kuchars’ offer, according to the Redfin real estate blog, which recently spotlighted the Kuchers’ buying experience.

“My wife and I were just shocked and honestly confused,” Natan says. “We certainly weren’t the highest bidder, so it was very heartwarming to know that some sellers in Berkeley are looking for more than the highest offer. … I can’t tell you how grateful and excited we feel to be living here.”

The sellers said they were “moved” by Natan’s music video. “Seeing that made us realize that they were definitely real people who had told us the truth,” the seller, Kathy, said about the video. “When they said they couldn’t go any higher, it wasn’t a negotiating tactic. They really love our house.”