Barbadians can now jump on the property ownership ladder with a completed 3 bedroom home for an initial payment as little as BDS $37,000. This is according to Managing Director of Terra Caribbean Andrew Mallalieu. Mallalieu was speaking during the launch of Valley View, a new housing development in Vaucluse, St. Thomas.
“Valley View is the most compelling offer on the market today,” he said. “It [Valley View] is an excellent location for this type of development – easy access South, North and into Warrens….you get your own parcel of land – no shared ownership or complicated title….the construction is fully funded by the developer and for as little as $37,000 your client can get on to the property ownership ladder,” he added.
Valley View features an attractive financing package where purchasers can borrow money to purchase a home without the need for a bridging loan. Potential homeowners can buy the land and then later pay for the house upon completion. Currently 14 of the 37 plantation-styled homes are already at roof level while four of the five Gillespie & Steel designs are “walk-thru” ready.
The Valley View community was created out of the need for Barbados to have well-designed, high quality homes within a development that is built out by the developer and not just developed and sold as lots. Each home takes into account homeowner requirements and is built to achieve a beautifully finished home at a competitive price within in an excellent location.
The development will be completed by yearend with first homeowners being given the opportunity to move in by June. This very short period to completion means that homeowners will be moving into a completed neighbourhood. Mallalieu noted this was a very strong factor in enhancing the value of the neighborhood.
“Often real estate agents try to sell houses while purchasers are actually looking to buy neigbourhoods, not houses. Purchasers are buying a home,” he said.
Valley View offers sweeping views of the island’s interior, South and South West Coast. Each home has a spacious open-plan design, a fully equipped kitchen, a detached two-car garage and finely landscaped gardens. Several homes also contain an unfinished basement for additional living or storage space.
About Terra Caribbean
Terra Caribbean is a fully integrated real estate firm providing sales, long-term rental, property management and holiday rental services.
For more information visit www.terracaribbean.com