Imagine stepping into a private jet and landing on a luxurious escape with secluded beaches. It’s the kind of getaway that’s a dream for many, but now it’s also becoming increasingly possible. Private islands are becoming the antidote to overcrowded, major tourist destinations and a growing trend for vacationers seeking peace, quiet and privacy. They can be the perfect place to spend a week or two with friends or family doing exactly what you want, without having to worry about the crowds. In addition to the pristine natural beauty and tranquil waters, some of these islands have on-site restaurants and resorts where all meals are prepared by a professional chef.
Some islands, such as Worthington Island in the Indian Ocean, are staffed with butlers and have a spa where guests can indulge in a mud bath or have a massage. The island is home to just 11 individually handcrafted villas that sit among granite peaks and white sands. Guests can dine at the island’s restaurant or enjoy the sunset with a glass of champagne on the beach.
Other islands are more remote and require a boat to get to. The old real estate adage that it’s all about location rings true when it comes to purchasing an island, with the more remote and undeveloped an island is, the higher the price tag. There are costs to consider beyond the purchase price, including building roads, electricity, water and communications. Adding these things is often a time-consuming and costly undertaking, and can add up quickly.
One of the biggest challenges with owning an island is dealing with local governments and environmental regulations. There are often rules and restrictions about what can be done on the property, especially when it comes to constructing buildings or altering the landscape. These rules and regulations can affect the value of the island, and they’re something that should be carefully reviewed by anyone considering an island purchase.
Whether it’s a sun-drenched atoll in the Caribbean or a chilly northern rock, purchasing an island isn’t for everyone. Besides the financial investment, it’s also important to make sure that you’re comfortable with the solitude and self-sufficiency required. For Chris Krolow, CEO of Toronto-based Private Islands and host of HGTV’s Island Hunters, the 90-minute drive and 30-minute boat ride to his own private island in Georgian Bay helps him disconnect from his busy world.
Regardless of the size or location of an island, it’s still a very expensive proposition. Elite Traveler reports that a small plot of land in Nova Scotia can be purchased for $60,000. That’s far more affordable than the Hawaiian islands for sale, but it isn’t exactly cheap. However, it’s much more affordable than the average house, and it includes the benefits of owning your own piece of paradise.