Property

Home Help

Moving house combined with moving to another country can be stressful. Here’s a few tips to ease the pain

Rcome to live in Bermuda is not only wise, it is also the only option for most new residents. Many houses here have separate rental units, which can range from studio apartments to garden cottages. Condominiums come in all shapes and sizes, and there is always a wide range of executive homes available at any given time.

The best way to start looking for a rental property—and you should see choice—is with the help of a local real estate agent. It is also well worth searching online. Alternatively you or your future employer could hire a relocation service. This is almost a necessity if you’re trying to secure housing before arriving on the island.

Some employers may pay for you to stay at a hotel or guesthouse for a few weeks, to give you time to look for accommodation.

Your housing needs will be dictated by your family requirements as well as your interests and work schedule. If, for example, you have the kind of job which requires shift work or the need to be called in at odd hours, you will want to live relatively near to your place of employment.

If you have children, schools will be a consideration in your choice of location. Places at government primary and middle schools are allocated on the basis of zoning, which you may want to bear in mind when selecting your new home.

Rental units in the central parishes of Devonshire, Paget, Warwick, Pembroke and Smith’s tend to be pricier. However, as you will quickly learn, nowhere in Bermuda is very far from anywhere else and Hamilton can be reached by road from either end of the island in not much more than 30 minutes. There’s also a good ferry service for commuters from the west end. There is lower demand in east and west ends of the island, rents, or get more square foot for the dollar.

The best time of year to look for housing is in the late summer, as students prepare to leave Bermuda for college and seasonal tourist workers leave the island.

Monthly rental for a studio apartment starts at no less than $1,000. One-bedroom apartments are priced from just under $2,000 to $3,000, with those in the City of Hamilton commanding the highest rent. For a two-bedroom apartment or condominium you’re looking at $3,000 to $4,000 a month. Twobedroom units are the most broadly in demand and are therefore the settings, proximity to golf courses and other desirable features such as a swimming pool and tennis court, can push the price to the top of the range, with some wellappointed units going for more than $7,000.

For an executive three or four bedroom family home with nanny quarters, a pool and ocean views, the sky is the limit. Properties in this range usually start at $10,000 and it would not be unusual to see a luxury property at the very top end of the market being advertised for $20,000 a month.

The most sought-after properties are stand-alone cottages either on the water or with water views. They are also the most expensive per square foot. If you have your heart set on something like this, consider renting a lesser property to give you time to search for your ‘dream home’, and until something becomes available.

When it comes to the ‘added extras’ for your rental home, be careful to check the lease carefully. The maintenance of the garden or pool is not always included in the rent, so be sure to ask. Similarly, establish whether you or the landlord

will be responsible for the payment of annual property taxes. As a general rule, if the lease is for less than three years, the landlord pays. If you are renting a condominium, establish whether you will be responsible for the condo association maintenance fees. Generally speaking, the landlord takes care of the exterior of the property and the tenant the interior.

Renting furnished accommodation is often the simplest solution. But if you do choose to bring your furniture with you, remember that you will pay import duty to land it in Bermuda. Most unfurnished properties include major appliances. There is also a vibrant secondhand market for furniture and household furnishings, in which you may choose to participate as a buyer at the start of your stay in Bermuda or as a seller at the end.

The majority of properties are leased on a monthly basis with rent payable one month in advance, and with usually a month deposit at the start of the lease against breakages. Such a deposit is not always repayable. You may also be responsible for repainting the walls and ceiling of your rental property before you vacate. Be sure to ask.

Finally, two important points. You need a work permit before a formal lease can be signed. And only one car per household is allowed in Bermuda. So if you plan to buy a car, make sure your rental unit has what is known as an ‘assessment number’ for that property.

WWW.BERMUDARELOCATION.COM

RELOCATION SIMPLIFIED

Bermuda Relocation – !

You’ve received the job offer of a lifetime and want to know what it takes to move to Bermuda before you

accept? You’re a Digital Nomad and are applying for a One Year Residential Certificate and want to get your

island life set up rapidly? You’re coming to Bermuda on secondment and want to settle in quickly to make the

most of our island lifestyle? You’ve accepted a new role that is based in Bermuda and need help getting you and

your family on island? Then access to our RELOCATION Portal is for you!

BANKING AND UTILITIES SETUP

Provide you with document assistance for setting up your Mobile, TV, Water, Gas, Electric and more HOUSE SEARCH AND SELECTION

Connections with reliable realtors for Finding a Home, Shipment & Delivery, Furnishing and Home Search considerations. DRIVING LICENSE SUPPORT

Overview of full process from Purchasing a Vehicle, Lessons & Testing, Licensing, Insuring and Maintaining your Vehicle

Contact Us For | Single Use | Group of Five | Corporate Annual | Short Term User Access

A Division of Corporate Concierge:

info@corporateconcierge.bm Tel: + (441) 296 8575

Looking to rent or buy? Call +1 (441) 535-2769 today!

Cesa Edwards Real Estate Broker Bermuda Longtail Real Estate Ltd

SALES & RENTALS Email: cesa@bermudalongtail.bm www.bermudalongtailrealestate.com

Your Piece Of The Rock

Hundreds of people from all over the world have bought homes in Bermuda — some because they chose to retire here, some due to work commitments on the Island, still more for vacation purposes and others for any combination of the above.

Over the decades, property has grown steadily in value while remaining secure due to Bermuda’s history of political and social stability.

There are opportunities for people from abroad to buy grand local houses from about $4 million up to $25 million. There are also some condominiums available to overseas buyers, and these range from roughly $1 million to upwards of $3 million.

Buying here involves a bit of red tape but nothing too onerous. And foreign acquisition of a local property of 8% for houses and 6% for condos. The purpose is an honourable one — to negate the risk of international speculation in the local property rise in the near future, so now is the time to buy.

If a year-round home is more than fractional ownership properties to contemplate.

Whichever option you eventually choose, the current buyer’s market will make the apparently hefty initial investment seem positively shrewd in a few years time.

However, it is the lifestyle rather than the investment opportunity that motivates most buyers of luxury Bermuda homes. And that — the Bermudian way of life — is truly priceless.