If you’re like most people, you probably dream of stepping off a seaplane on to a private island. It’s the perfect place to escape from the bustle of everyday life and just be. You can relax on a gorgeous beach, host lively parties or work from home without the interference of neighbors. But if you’re thinking of making that dream a reality, it is important to keep some things in mind before you pull the trigger.
The Cost
One of the biggest issues that comes with owning a private island is that it can be very expensive. It takes millions, if not billions to get an island that is fully developed with houses, water, power, and more. This type of investment is definitely something that most average people aren’t going to be able to afford.
Then there are the costs that come with keeping a private island up and running. There are property taxes, insurance, maintenance, and utilities that all need to be paid. These expenses can quickly add up and make a private island more of a luxury than a regular house or apartment.
It’s Not Just a Vacation
Some people purchase private islands because they want to live there permanently. They may have a passion for fishing, diving or another activity that can only be done on an island. Others want to run a resort or restaurant on the island. In either case, it is important to think about the future of the island and how you plan to use it.
Another important thing to consider is the climate of a private island. If the weather is constantly stormy or humid, you may not enjoy living there very much. This is especially true if you’re used to living in a different climate.
Can You Declare Your Own Laws on a Private Island?
It’s important to remember that even though you might own a private island, it still has to be under the jurisdiction of a country. This means that if you’re not paying your taxes, Big Brother might come knocking. It’s best to consult a lawyer or tax expert about this issue before you go through the process of purchasing a private island.
Can You Build Anything on a Private Island?
It depends on the size of the island. If you’re buying a small sand or coral island, you might be able to build a cottage or hut, but it’s unlikely that you’ll be able to construct an extensive home. You also might not be able to build any structures that could harm the environment or natural habitat on the island.
Having a Private Island is a dream that many people have, but it’s not as realistic for most people as it was in the past. With the price of an island ranging from tens of thousands of dollars to the millions, it’s difficult for most people to actually purchase one. Even if you have millions in the bank, you’ll still need to factor in costs for getting to the island and maintaining it once you do buy it.