Real Estate Handbook 2022 by Ian Coles

BERMUDA REAL ESTATE HANDBOOK

2022 Priceless

The complete guide to Island property for buyers and sellers

What’s your home worth? Best properties Advice for buyers What’s new Home Improvements

Pass me on for a greener Bermuda

Time to freshen up? WE CAN SAVE YOU MONEY ON ALMOST ANYTHING FOR YOUR HOME OR PROJECT! Just email the details of what you need to josh@joshbate.com and you will experience the best customer service available in Bermuda. Our quotes are free!

Curtain

Ceiling fans

verings

Window co

rods

Fireplaces Furniture

Sealy mattresses

Linens Area rugs Appliances

PLUS

Lighting

Lots of outdoor goods — including furniture, lighting, BBQ grills, children’s playsets, hot tubs & more!

Dining furniture

Tile

Bar stools Home & table decor

Go to

Even the kitchen sink!

Floorin

www.bate.bm 24/7 to shop to IMPORT, BUY NOW or SOURCE for your project! WE ARE OPEN

Monday–Saturday from 9am to 5pm Mondays & Wednesdays until 6pm

7 MARSH LANE, DEVONSHIRE Sales: 236-7880 | Service: 236-8194 Showroom: 236-7866

HSBC Green Loans help you save the planet

Hope Loans

An HSBC Green Loan can help cover the cost of solar panels, solar water heaters and other energy saving enhancements to your home and lifestyle, including electric vehicles We offer: s Get 100% ﬁnancing, apply online and save $200 s A reduced interest rate of 6% s Extended repayment term up to 7 years

Visit www.hsbc.bm/greenloans Call 299 5959 Terms and conditions apply. A loan is subject to formal credit approval with HSBC. Due to market ﬂuctuations, a variable base lending rate may change in the future, which may impact total costs over the lifetime of a loan. Issued by HSBC Bank Bermuda Limited, of 37 Front Street, Hamilton Bermuda, which is licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority.

CONTENTS

22 Best time to buy 23 Mortgage ready reckoner 5 Trending Published by Bermuda Media PO Box HM 2032 Hamilton HM HX Tel (441) 292-7279 E-Mail: hello@bm.bm www.bermudamedia.bm Publisher: Ian Coles

8 For overseas purchasers 10 What’s your home worth?

Marketing Director: Lissa Fisher

24 Better water 25 Green cooling

Art Director: Tim Parker Contributing Writer: Annabel Cooper Associated Media: Bermuda Business Visitor New Resident Guide Your Future Going Green

13 Best Properties

Health & Beauty Building Bermuda House Garden Kitchen and Bath Your Office and Commercial Space The Bermuda Channel 2

21 Luxury water access lot

27 Legal advice 29 Key contacts

ON THE COVER Old Battery, listed for sale with The Property Group. For details on this prestigious Tucker’s Town property visit https://www.property-group.com Real Estate Handbook 2022

Create the home you want with the BAC Group of Companies Keep your cool or take the heat, summer and winter Install an energy-efficient, reverse-cycle air conditioning system and get ready for Bermuda’s climate – all year round. Call BAC today to find out more about a system that will suit your home and budget.

9 Mill Creek Road Pembroke HM 05 Tel: 441-292-0881 www.bac.bm

BERMUDA AIR CONDITIONING

Live. Bold. KOHLER sinks, faucets and showerheads. Where sleek design meets smart functionality. When you purchase a KOHLER product from our KOHLER Registered Showroom, we can guarantee you’ll get a quality product with quality customer service.

9 Mill Creek Road Pembroke HM 05 Tel: 441-292-0881 www.bac.bm

DON’T

IN A R E W O P E S O L HURRICANE!

Get ready for Hurricane Season with a generator from BAC Universal Electric. Whatever size home you have, we’ve got the generator style and size to fit – from portable to built-in models. We also service all types of generators and can provide maintenance contracts – so you can keep the power on, all year long.

4 Midsea Lane Pembroke Tel: 441-292-5372 www.universal.bm

292-0881 www.bac.bm

297-3639 www.bae.bm

278-6238 www.ems.bm

292-5372 www.universal.bm

292-0881

BAC Group

PARADISE FOUND

COMING SOON - A VERY RARE OPPORTUNITY

TURNKEY 3 BEDROOM HOMES WITH 4TH BEDROOM APARTMENT OPTION Pool, high-end finishes and amenities included. Now under development in a desired location. Each lot has water views and is 1+ acres. Interested parties please contact: 238-2862 | lhassell@hasco.bm www.hascoconstruction.bm Serious enquiries only. No agents please.

#TRENDING STRAP

What’s the hype about Air Frying?

Bed-in-Box Sealy has just launched its new collections of Traditional Innerspring, Hybrid and Bed-in-Box (BIB) All Foam Mattresses. All include their trademark “Posturepedic” technology for the best, most supportive sleep, year after year, for a healthy, balanced life. The compressed BIBs come in 11” to 13”

Thicknesses available in three comfort levels with Moisture Protect or Chill Covers and start at $929 for queen size. Visit BATE’S today, 7 Marsh Lane in Devonshire, to “test drive” or go to “Buy Now” at www.bate.bm to see what’s in-stock.

Clean AND sanitise Even though the status of the global pandemic is improving, it is still important to sanitise clothing and dishware when possible. Stop by BATE’S to learn about sanitising cycles now Real Estate Handbook 2022

available in many washers, dryers and dishwashers. BATE’S, 7 Marsh Lane, Devonshire 236-7866 www.bate.bm

Air Frying is a popular new cooking technique, thanks to technology that requires less oil and fry time. Air Fryers are now a great new addition to the avid home chef ’s kitchen. Whether cooking the “catch of the day” or something from the freezer aisle, Air Fryers deliver consistent “crispy on the outside, moist and chewy on the inside” results, only healthier. Chefs of all levels can now cook their favorite foods more quickly and get the same delicious outcome from pan frying or deep frying, but with less mess and fat consumption. Most Air Fryers have the same basic construction, and work similar to convection ovens. A fan blows down through a heating element, circulating the air all around and through the food, cooking it on all sides, then recirculating back up. Technically, food actually gets baked in an Air Fryer, but the process can sear foods because of the high temperature of the air that passes through at about 392°F. This high temperature also produces the same effect that causes foods to brown and crisp when fried or seared. This is what gives food cooked in an Air Fryer the “almost fried” coating, while using less oil than traditional frying. Air Fryers are available in freestanding countertop models with baskets and/ or rotisseries, as multi-purpose Toaster Ovens and GE now offers a no preheat Air Frying mode in their newest Ranges. No matter which type you choose, you will eliminate calories from your diet, increase the efficiency of your cooking (saving you time and money), and create more delicious food for your friends and family. Start making healthier and more delicious food. Stop by BATE’S at 7 Marsh Lane in Devonshire to see all of the in-stock Air Fryer options available or go to www.bate.bm and ‘Buy Now!’ 5

#TRENDING

Ductless a/c The latest product from Gree is the Sapphire series, an ultra-high efficiency,

smart ductless system that will keep any room comfortable without sacrificing ascetics. The quiet, unobtrusive design delivers advanced performance with an industry-leading energy efficiency rating

of 38 SEER in cooling, the ideal choice for your home or office. Available form HVAC Shack Ltd. Tel 234-6227. Email: hvacshack@coldsnapservices.com. www.hvacbda.com

Sea Bags Bates are pleased to offer these unique Sea Bags. They are hand crafted from recycled sails, in 8 different designs (7 unique to Bermuda) and 9 styles of bags and accessories. Also available for resale — if you are interested in selling Sea Bags from a retail location, contact Bate’s to establish your exclusive design. BATE’S, 7 Marsh Lane, Devonshire 236-7866 www.bate.bm

Superior solar power New for 2021 Panasonic launches the EverVolt 370/360-watt solar panel for residential and commercial installations. TripleGuard 25-year warranty covering product, performance and labour and 21.2% efficiency for industry leading power output with less roof space. Available now from BAE, Bermuda’s only authorised Panasonic distributor and installer. Airkool House, 9 Mill Creek Road, Pembroke. Tel: 297-3639. Email: info@bae.bm. www.bae.bm 6

Pipeline to Somerset Bermuda Waterworks provides potable water through its pipeline distribution system that extends from Devonshire through parts of Hamilton and as far west as the intersection of Somerset Road and East Shore Road. It also sells bottled water under the Pure Waterbrand, produced by distillation – pure to the last drop. Tel: 299-7873. Email: purewater@bwl.bm. www.bwl.bm Real Estate Handbook 2022

INTERNATIONAL BUYERS

Why overseas buyers purchase in Bermuda The experts at The Property Group explain why property on the island is a priceless investment

he year-round beauty of Bermuda, with its pastel coloured houses and white roofs, exotic flowers, pink beaches, and mild subtropical climate, is a great lure for the hundreds of international buyers who purchase homes in Bermuda. Also of great appeal are the high standard of living, excellent health care, the presence of international legal and accounting firms and banks, excellent 8

schools, and regular direct flights to the major hubs in North America and the United Kingdom. Typically, international purchasers who buy property here as a permanent residence or a holiday home, already know Bermuda, having worked here, vacationed here, or simply want to retire here. Property has grown steadily in value over the decades and remains secure, thanks to the island’s history of political

and social stability. A diverse range of properties is available for those from abroad to purchase – from grand houses with asking prices between approximately $4 million up to $25 million. Condominiums, which are available to overseas purchasers, can range from between $500,000 to upward of $4 million. The Bermuda government assesses each property with an annual rental Real Estate Handbook 2022

INTERNATIONAL BUYERS STRAP value (ARV ) for land tax purposes. An ARV needs to be above $126,000 for a house or $25,800 for a condominium to determine whether the property is available for a non-Bermudian to purchase. This is to negate the risk of international speculation in the local property market. Local property lawyers and real estate agents guide buyers through the negotiation and purchase process. There are also first class fractional ownership properties to consider, many in beachfront resort locations, should a buyer not need a year-round home. Bermuda has proved to be a very safe destination after the height of the COVID-19 pandemic. We have been delighted to see a rise in interest from the overseas buyers who are looking at Bermuda as a safe place to escape, should there be a second wave or another epidemic. The Bermuda way of life is truly priceless. For expert advice on the Bermuda property market and details on fine homes for sale, contact The Property Group. Tel: 441-234-6900.

So much more than a full service real estate ﬁrm. We have a passion for Bermuda real estate that guides everything we do to help our clients find their perfect home.

Nautilus House, 82 South Rd Warwick WK08, Bermuda (441) 234-6900 www.property-group.com

Real Estate Handbook 2022

Managing Director: Sallyann Smith Sallyann@tpg.bm (441) 535-4521

Managing Director: Brittany Archer Brittany@tpg.bm (441) 505-1466

SELLING We speak to some of the island’s experienced valuers and real estate agents about what determines the value of a home in Bermuda

he appraisal of anything of value often requires both art and science. The more unique the item, the more you rely on the art which requires knowledge of the particular nuances involved. Where there are many similar items, you can rely more on mathematical formulae. When it comes to real estate, in large cities and towns where you have homogenous condominium developments, housing estates or a number of similar properties together, you can type your address and details into a website such as Zoopla in the UK or Zillow in the US, and a reasonably accurate valuation comes out the other end. The further you move away from homogeneity however, the less accurate the science. Move then onto a rock in the middle of the Atlantic ocean where the vast majority of homes are unique and areas within a half kilometre distance from each other can have very different values, and where do you begin determining how much your home is worth? “Location is absolutely the most important,” says Richard Exon, chartered valuation surveyor at Bermuda Realty. “You can go a very short distance in Bermuda and find the values change considerably.” Steve Bowie and Suzanne Stones, both chartered surveyors and registered valuers who together own Bermuda Valuers and Appraisers, agree, adding that “Tuckers Town, behind the gates, Tuckers Point and Fairylands are the most valuable locations on the island, as well as one or two other waterfront properties.” The reasons for this they say are because each property tends to be set in quite a large lot and the neighbourhoods are prestigious. In the case of Fairylands, you also have proximity to the city as well as sheltered boatable water frontage. “A waterfront property in Fairylands with a similar size lot to a waterfront lot in Sandys would probably be three 10

How Much is Your Home Worth? or four times more,” says Albert Moura, operating principal of Keller Williams. “A waterfront property sold for $4 million in Fairylands. That same size property might be worth $1.5 million in Sandys.” Water, be it views or access, can have a huge impact on home values in Bermuda. “Views are very important,” continues Exon. “Waterfront is attractive, but there’s different standards of waterfront. Does it have a sheltered spot for a boat or a beach, or is it rock or difficult to access?” “There’s typically a premium associated with waterfrontage full stop,” says Robert Newton who is also a chartered valuation surveyor at Bermuda Realty.

“Is it boatable? Is it insurable? Does it have a deep-water dock? Is it in Jews Bay, Riddell’s Bay, Fairylands, Pilchard Bay in Somerset, or is it exposed on North Shore with a smashing view, but you can’t leave a boat there and walk away because there’ll be nothing left when you come back?” “I’ve seen some houses where there is so much salt spray, everything seems to be rusting and they have so many maintenance issues it’s therefore a deterrent,” adds Exon. In addition to location, condition and ongoing maintenance costs are important valuation factors, alongside the number Real Estate Handbook 2022

SELLING Waterfront is valuable, especially if boatable

of bedrooms, bathrooms, home amenities such as swimming pool, garden or patio and proximity to other amenities such as schools or work. A property’s potential is also a consideration – is it easy to extend or improve, or is it listed? When asked to price a property, Moura first visits the site, takes measurements, notes the lot size, condition, location and amenities. “I will give a sense of what the structure is worth as it stands and then I’ll look at the comparables for the value of the lot. Then I’ll look at comparable sales,” he explains. “I will start with sales that are within a similar Average Rental Value (ARV) zone. I’ll go a bit below and a bit above and come up with a range.” He points out that the ARV in itself does not reflect the condition of the property so he also relies on photographs, but he uses that component to “get a sense of other properties that are similar. I use it as a guide.” “Condition is very important because rebuilding and renovating costs are so high,” says Bowie. “Sometimes, for larger houses in not so sought-after locations, the cost of doing those works sometimes exceeds the value of the property, so Real Estate Handbook 2022

The condition of the property is important because renovating costs are so high

STRAP SELLING

before you start renovations, make sure you’re not overcapitalising.” Away from the physical attributes of a home, historical data plays a role in determining a home’s market value and herein lies a challenge when valuing for the Bermuda market. “You don’t have the depth and breadth of data you would get in other jurisdictions,” says Newton. “At the height of the market, we were looking at plus or minus 600 transactions a year island wide, across all sectors. That’s dropped down to as low as plus or minus 200 transactions per year island-wide.” “The other issue is we don’t have a multi-listing service. We have Property Skipper, but not everything is listed. The issue is with the immediacy of registration of data on sales, that can sometimes have a lag. If it’s a transaction that we’ve not been intimately involved with, we’re reliant on the government’s registration system, which isn’t instantaneous.” Newton does add however that they maintain their own database detailing every transaction going back to 1993. While location, water access, views, size, condition, amenities, potential, market conditions and historical data all have their part to play in determining the value of your home, there is one more vital consideration. At the end of the day says Beth Gosling, Team Leader at Keller Williams, “your home is only worth what someone is willing to pay for it.” 12

Tucker’s Town behind the gates and Fairylands (above) are two of the most sought after locations

Amenities such as a pool, and views increase the value of a property

Real Estate Handbook 2022

BEST PROPERTIES

St. George’s Waterfront

Price adjustment. If you’re looking for a waterfront home, look no further. This stunning waterfront ranch style home nestled at the end of a private road is beautifully decorated with solid pavers, and sits on a large 0.6 acre lot. It is a must see. This immaculate property features 3 bedrooms, 3.5 bathrooms, a family room, and a spacious kitchen with breakfast room leading to a lovely covered patio. The living room has a cozy fireplace, tray ceilings and wooden floors. French doors off the living room lead you to the covered patios and reveal a spectacular view of Mullet Bay. This home is perfect for entertaining with a formal dining area with dining server storage cabinet. The master bedroom

has an ensuite bathroom and huge walk-in closet. There are two additional bedrooms, each with their own bathroom, and a bonus family room with built-in storage, making it an ideal space for the perfect library, den or study. The property has two garages, a dock and boat mooring for large boat, separate laundry room, ample storage, and air conditioning throughout. It is minutes from the town of St George’s. This is an amazing private spot on beautiful sprawling gardens. $2,600,000 Bermuda Longtail Real Estate. Contact Karen E Franks. Tel. 232-2769 Email: karen@bermudalongtail.com. www.bermudalongtailrealestate.com

Waterfront Condominium

Real Estate Handbook 2022

The perfect spot at a great price. Waterfront Condominium on the beach with the most amazing ocean views. This Breakers apartment has an open plan living/dining/ kitchen with stainless appliances and a covered patio overlooking the ocean. There are two bedrooms, each with their own ensuite bathroom. Located on a bus route and near restaurants. This development has a lovely beach below a set of stairs. Coin operated laundry on site. Tiled throughout, some air-conditioning. Currently tenant occupied with excellent return. This could be a great starter home or for those looking to downsize. Available to Bermudians & PRC holders. $499,000. Bermuda Longtail Real Estate. Contact Cecilia ‘Cesa’ Edwards. Tel: 232-2769 or 535-2769. Email: cesa@bermudalongtail.com. www.bermudalongtailrealestate.com 13

BEST PROPERTIES

Pumpkin Patch Three bedroom home, perfect for a young family or couple. Built in 1990’s, beautifully designed and in mint condition. Open plan kitchen overlooks the living room with fireplace, making entertaining, or keeping an eye on young children, a breeze. Sliding doors lead to a pergola covered patio and barbecue area. The yard is fenced, flat and private — ideal for young children or pets. This level also has a office/small spare bedroom and powder room. Upstairs is the master bedroom with ensuite

bathroom and guest bedroom. There is a carport, storage room, with plans for two more bedrooms, full garage or family room, bathroom and swimming pool. Great location near schools, shopping, parks and beaches. The buyer pays stamp duty, legal and conveyance fees (seller pays commission). List price is firm. $1,015,000. Frith Real Estate. Sue Frith. Tel: 333-7067. Email: sue@frith.bm. www.frithrealestatebda.com

Fantastic opportunity Get your piece of the rock. Two bedroom condo with open plan kitchen in a family neighborhood just a short walk to Astwood Park beaches. Modern, open plan kitchen with adjacent dining and living areas. French doors lead to the fully fenced backyard featuring South Shore water views. Upstairs is the airy master bedroom with balcony overlooking the South Shore. Next door is the attractive full bath. Across the hall, the second bedroom is light filled and generous in size. Perks include a private parking space, and a parklike common area where residents gather and children play. This property is freehold and small pets are allowed. Sole listing. $520,000. Frith Real Estate. Sue Frith. Tel: 333-7067. Email: sue@frith.bm. www.frithrealestatebda.com 14

Real Estate Handbook 2022

BEST PROPERTIES STRAP

Ocean view condo Mount Wyndham unit #14 is a renovated end unit which is very private and has several balconies to enjoy ocean and Harrington Sound views. Offering 3 bedrooms and 2 bathrooms upstairs and a bonus office/den with powder room downstairs, the living room, dining room and kitchen are all close enough for convenience while being comfortably separated for both family life and working from home. This unit is beautifully situated in a quiet and safe development with great amenities including a large pool and tennis courts. $1,250,000 The Property Group. Contact Brittany Archer. Tel: 505-1466. Email: Brittany@tpg.bm www.property-group.com

Far Above

Situated on 1.8 acres at the peak of Pinnacle Hill in Paget, sits the luxurious home Far Above. A panoramic vista of more than 300 degrees gives this property the perfect backdrop for its stately architecture and tasteful landscaping. The inside is just as beautiful; the neutral palate in the tile and wall color gives the house a cool and airy atmosphere while light floods through countless windows. At every angle in every room - there is a view. The hub of the house is the living and dining room. At a measurement of 21’ x 36’, the great room is an expansive space that features high ceilings and wall-to-wall windows, taking full advantage of the breathtaking views. In the midst of the windows, massive, contemporary glass doors fold back completely to bring the outside in and invite you onto a palatial, covered veranda perfect for entertaining. A spectacular infinity pool seemingly drops off the edge as the City of Hamilton, Paradise Lakes, Great and Little Sounds beckon in the distance. Adjoined by a practical family room, the ample 20’ x 20’ kitchen is truly a chef ’s dream, equipped with the best in custom cabinetry, Real Estate Handbook 2022

stainless steel Viking appliances, and wine and bar fridges. Both rooms are sunny and bright and enjoy views of Hamilton. The home boasts four bedrooms, each with ensuite bath and hardwood floor, three of which are located in the west wing of the house with private balconies. The fourth, an optional den, features a fireplace. The master bedroom, with generous walk-in closet and large private balcony, overlooks the harbour, as does the master bathroom, which is tiled in limestone and fitted with glass shower, whirlpool and twin vanity. There is a built-in speaker system throughout the house along with central, reverse-cycle air-conditioning. In addition, there is a lower apartment, ideal for guests or staff, as well as a detached garage. With 6,300 square feet of living space, this home is spacious, but still manages to feel intimate with its convenient layout. $6,500,000 Keller Williams Bermuda. Contact Albert Moura. Tel: 535-1453. Email: albert.moura@kwbermuda.com. www.kwbermuda.com 15

BEST PROPERTIES

Luxury Resort Condo Looking for a lifestyle change? The luxury property Newstead Belmont Hills Golf Resort and Spa offers year round living and an opportunity to own a piece of paradise. This modern and beautifully finished ground floor, single level, two bedroom apartment has everything you need for comfort. In unit 720/721 there is the main bedroom that is ensuite with whirlpool tub and separate shower and marble countertops and spa like finishes. The French doors lead to a covered patio. The open plan living room leads through French doors to another patio — there is ample space for dining in or outside. The kitchen is well appointed and modern and leads to the powder room and spacious hall closet. The second bedroom is also 16

ensuite with French doors to its own patio. This room has its own entrance and can be locked off, offering the opportunity to generate some income with a hotel rental if you wish. This fully furnished, nearly 1800 square feet, unit is finished to a high standard with superior workmanship and materials including Kohler products and granite counters and hardwood floors. Additionally, there is your very own lawn with coconut palms and hibiscus to add more to your outdoor living space. Tucked into the lush landscape of Paget Parish, overlooking beautiful Hamilton Harbour, Newstead Belmont Hills features a splendid fusion of elegant comforts and luxurious resort amenities appealing to the most discerning clientele.

As an owner you have full use of the pool and jacuzzi, the gym and tennis and the ferry service to Hamilton. There is a restaurant on property and full service spa and salon. There is a covered parking space on property. Membership to the award winning Belmont Hills Golf Club is also included. Here you will find find two restaurants and a Pro Shop. Don’t miss this opportunity to own ‘Your Island Home’ in a whole new way of life. Available to Bermudians, PRC, Belongers, Work Permit Holders and International Purchasers. $1,200,000 Keller Williams Bermuda. Contact Lisa Smith Outerbridge. Tel: 517-0769 Email: lisa.outerbridge@kwbermuda.com. www.kwbermuda.com Real Estate Handbook 2022

BEST PROPERTIES A unique opportunity to own a fabulous estate in central Paget. The house was built in the 1700’s and sits on four acres of completely private and secluded property. There is also a two-bedroom carriage house for extra guests or income. The house and cottage are full of Bermuda charm with beautiful cedar beamed ceilings and large raised fireplaces and paneled walls. This is a truly stunning property. The house was built by Col. Francis Jones, Searcher of the Bermuda Company, in 1700. Bermuda cedar was used exclusively in the framework and the interior of the house. The wood floors and some window frames have been replaced with pine but the doors, the surrounds of the six fireplaces, the beams in the entrance and living room, the stairwell and the support beams in the upper hallway and the guest bedroom are original and thus ‘antique’. This four-acre property has an additional fully equipped two-storey cottage of the same vintage as the main house. The grounds are graced by large spacious lawns bordered by garden plots. A spacious garage and storage area sits next to the cottage. $2,900,000 The Property Group. Contact Gill Butterfield. Tel. 534-7746. Email: gill@tpg.bm www.property-group.com

Paget Estate

Tucker’s Town Beach Front

Fabulous beach front property in Tucker’s Town with more than 5,000 sq. ft. of living space. The beautiful main house has five bedrooms, each with its own newly renovated ensuite bathroom, large living room and dining room, newly renovated kitchen, sun room, and a lovely large covered verandah overlooking the South Shore. The addition of a stunning pool cottage has greatly enhanced the property bringing the bedroom to a total of eight. The cottage with its open plan design has three bedrooms, two bathrooms and looks out over the 20’ x 40’ infinity pool to the Real Estate Handbook 2022

beach and ocean beyond. Both homes are very spacious and have spectacular views and direct access to the beach from the pool patio. Situated just a 5 minute drive from the renowned Mid Ocean Club and Tucker’s Point Club and their amenities, 15 minutes from Hamilton and 15 minutes from the airport. The Property Group. Contact Gill Butterfield. Tel. 534-7746. Email: gill@tpg.bm www.property-group.com 17

BEST PROPERTIES

Attractive Home on 1 acre A beautiful stand-alone home with apartment, lovely gardens, views of South Shore and a farm situated on just under one acre of land. This well-maintained home consists of an entrance foyer, large living room with fireplace, dining room, kitchen, powder room, two guest bedrooms with shared bath and a master ensuite. A large covered

patio overlooks The Reefs tennis courts and South Shore. Access steps leading to an oversized one-bedroom apartment and garage. Completely air conditioned and new wood tile flooring. $1,495,000 Keller Williams Bermuda. Contact Donna Bennett. Tel: 535-9909. Email: donna.bennett@kwbermuda.com. www.kwbermuda.com

‘Sought After’ condo Nestled in the wonderful, quiet residential development of Trelawney Court, within walking distance of town, is this beautiful second floor condo. All on one level, it is extremely spacious and bright, with 2 bedrooms and 2 bathrooms ensuite. This is a corner unit and has its own laundry room and storage. It has decks off the living room, kitchen and bedroom. Fully equipped with all appliances and tiled throughout. There’s an added bonus of an extremely large common yard area. This meticulous unit is currently rented until Dec 2021 for $3500 a month with excellent tenants in place. $635,000 Kim Sheen Properties. Tel: 734-1264. Email: kim@kimsheenproperties.bm www.kimsheenproperties.bm 18

Real Estate Handbook 2022

BEST PROPERTIES

Family Home If you have been looking for a wonderful 3-bedroom home for your family with a brilliant 1-bed apartment you found it. Located on a dead-end road with plenty of yard space, this is truly the one. Is privacy is important? You got it. Love walking? You got it. Sitting on a beach? You got it. Boating? You got it This amazing home truly shows the pride of home ownership with absolutely nothing needing attention. Just a stones throw away from Somerset Long Bay beach and the public dock, just a 10 minute walk to Cavello Bay ferry stop, and a 5 minute walk to the bus. This home has a/c throughout, a fully equipped kitchen complete with breakfast island, a 20ft x 11ft dining area, the living room is 14ft x 15ft with sliding glass doors to the yard. On the second floor is the 18ft x 15ft master bedroom with a dream walk-in 9ft x 11ft closet, two additional bedrooms of 12ft x 12ft, and a 3rd bedroom measuring 12ft x 15ft with glass sliding door to a private verandah. There are also two full bathrooms and a laundry. The 1 bed apartment is ready for immediate occupancy and located in the rear of the property providing plenty of privacy for your tenant, with a private patio area. The fully equipped kitchen is 15ft x 20 ft. The full bath is 9ft x 5ft and the bedroom is 12ft x 12ft. There is also storage galore. $815,000 Kim Sheen Properties. Tel: 734-1264. Email: kim@kimsheenproperties.bm www.kimsheenproperties.bm

d going ser vice an le b a n o rs ing pe done! mpany giv et the job g to A small co e il m the extra 264 Tel: 734-1 ies.bm ro eenp pert sh im k @ kim ies.bm eenpropert sh im .k w ww Real Estate Handbook 2022

BEST PROPERTIES

Twin Palms

Price reduction. This stately family home, has water views of Harrington Sound from almost every room, as well as the 30-foot covered verandah. The living room features a woodburning fireplace and opens to the formal dining room. The renovated eat-in kitchen has state-of-the-art appliances and a large island with seating for four. A cheerful laundry room and home office are conveniently located nearby. The

opposite wing is comprised of the master bedroom suite, featuring a dream closet with custom cabinetry,a Juliette balcony overlooking Harrington Sound, and spacious master bath. Two guest bedrooms with Jack and Jill bath plus a bonus full bath complete the first floor. Downstairs are two additional bedrooms, a spacious games room with sliding doors leading to the pool area, a cozy family room and private gym. Sole Listing. $2,800,000. Frith Real Estate. Sue Frith. Tel: 333-7067. Email: sue@frith.bm. www.frithrealestatebda.com

Magniﬁcent Mansion Old Battery estate sits high on a hill overlooking the beautiful South Shore in Tucker’s Town. It encompasses more than 4 acres of immaculate grounds, with a stunning five ensuite bedroom main house, two charming guest cottages, an infinity swimming pool, tennis court, and private coves with beaches. Available to international purchasers. The Property Group. Contact: Vicky Hamshere, Tel: 295-2142. Email: vicky@tpg.bm, or Gill Butterfield, Tel: 534-7746. Email: gill@tpg.bm. www.property-group.com 20

Real Estate Handbook 2022

BUILDING LOTS

Only one luxury lot left at waterfront estate O The ﬁnal lot with water access available at affordable price

nly one lot, of a generous size of more than half an acre, remains for sale at this prestigious waterfront estate, with the price reduced to only $465,000. The new owner can build a significant size family home up to 5,000 square feet with a pool if they choose. Or it is also ideal for a younger couple looking to build a “starter home” with room for expansion. For retirees, you could have a smaller cottage and enjoy lots of garden area around the home. There is access to the water from the lot. The protected waters of Riddell’s Bay means you can leave a boat there all year-round. A private mooring comes with each lot, plus the use of a floating dock for all Heron’s Nest estate owners. Six extremely attractive new luxury homes at Heron’s Nest estate in Warwick have already been completed. “The quality and standard of new home design and construction has added immeasurable to the stately manor of the estate”, says

Real Estate Handbook 2022

master developer Steve Thomson. “The main house was sold for millions, and millions more has spent on completely redeveloping that waterfront property. The new owners have created something special there that has significantly enhanced the overall estate and added to the value of the homes that have already been built – as well as adding to the value of the remaining lot”. Heron’s Nest is an exclusive estate soaked in history, dating back more than 200 years. For more than half that time, it was in the hands of just one family, the Mitchell’s, whose fortune can be traced back to the founding of General Motors in the United States. In 2011, Thomson, well-known as the entrepreneur behind Mailboxes Unlimited and Just Shirts Dry Cleaners, purchased the estate. Thomson grew up on Riddell’s Bay, and his attachment to the property goes back to his days as a young boy. “I used to play and swim close by

Heron’s Nest, and even back then I admired the property,” reminisced Thomson. “When I heard the estate was coming on the market, I felt I had to save it from developers who didn’t value Bermuda’s open spaces. I was deeply concerned that someone might be tempted to overbuild the whole area with condos. I decided to do whatever I could to retain all the charm and grace of the original estate. We only created seven lots, each of more than half an acre, plus there was the main four acres. My vision was that Heron’s Nest would become a tranquil area where a fortunate few could create what I call the ultimate Bermudian lifestyle — your own beautiful piece of the rock with gorgeous views and waterfront access for boating, fishing, and swimming. I am so glad that vision has become a reality”. For more details on Heron’s Nest contact Rhonda Casling of Rego Sotheby’s International Realty at 335-9517. 21

BUYER’S GUIDE

Perfect timing With a buyer’s market, plenty of choice and reduced interest rates, it makes sense to get on the property ladder

or most of us, real estate is (as the saying goes) the biggest single purchase of our lives. If you hope to buy your first home or invest in a second one, is now the right time? Or, if you want to sell, is it more sensible to wait? These are two of the biggest and most daunting financial decisions you will ever face. If you haven’t yet bought your first home, incredible opportunities could be yours. Interest rates are low, choices are plentiful and sellers more likely to negotiate.

WHAT COMES DOWN MUST GO UP Mortgage interest rates are the lowest they have been in many years. What does this mean to you? With variable interest rates, the lower the rate, the better it is for the buyer. Therefore low rates again make it a good time to buy. Of course you have to remember that rates go up and down and it will probably all balance out over the 20 or 30 years of your mortgage. Unless you are able to renegotiate, your monthly repayments will always remain pegged at the initial amount. When the interest rate rises, a higher proportion of what you pay goes towards interest and when the rate goes down, your capital repayment increases. If you were very unlucky with interest rates, your mortgage term might have to go on for an extra year or two. But the pendulum could swing the other way, meaning you could end up burning your mortgage document earlier than expected. The best advice is to use any windfall cash to reduce your mortgage debt and therefore cut the amount subject to interest. The lending institutions offer you options to “lock in” to a particular rate for a particular number of years. This is something you’ll need to ponder when the time comes.

WANT A BARGAIN? THEN READ ON… It was always a struggle for the average 22

Bermudian to buy his or her own home. Prices have always been astronomical for nice places in the central parishes. There is an ever-diminishing supply and a never-diminishing demand, therefore prices go up. So … if you cannot afford a place in a so-called “good area”, why not look elsewhere? But are there really such things as bargains in Bermuda real estate? In a word, yes, although you have to work to find them and be ready to act fast. The answer is to think outside the box. Or at least outside the Central Parishes, and to consider the extremities of the Island. The fast ferries make commuting from the West End quick and convenient, and if you talk to anyone who lives in St. George’s or St. David’s they will tell you how wonderful it is to live in the East End. Meanwhile, young house-hunters tend to dream of finding a low-priced fixerupper — and indeed run-down properties can sometimes seem like bargains. But unless you are able to do the bulk of the fixing up yourself, they can be too much trouble. Of course, it is tempting when you see a fixer-upper advertised for, say, $650,000. You imagine you can lick it into shape in your spare time and save $100,000, which could translate to about $1,000 a month in mortgage payments. But realistically, are you any good at home improvements? And will you have the time when you’re trying to get on with your career — a vital objective in itself when you have the long-term responsibility of a mortgage. Another issue is that lending institutions are more likely to say yes to a property in reasonable condition. It means that if the worst came to the worst, they could sell it without too much difficulty whereas a half-finished fixer-upper would probably remain a liability. When you’re young and busy, there’s a lot to be said for homes at the opposite end of the property spectrum . . .

condominiums. Their upkeep is handled via a monthly fee, and you don’t need to give home or garden maintenance a thought. Still, if a fixer-upper has been hanging around on the market for ages, there’s nothing wrong with making a ridiculously low bid that, if accepted, would allow you some leeway to hire construction help.

KEY TO YOUR FUTURE Especially in Bermuda, where the national average house price is among the highest in the world, first-time buying is a very big deal. It can be filled with joy and heartbreak, fear and anticipation, dreams and nightmares. After all, it’s an emotional decision in many respects. And while your heart is an important guide, you need to be ruled by your head — or if yours is too confused by all that’s going on around you, find a wiser head to help you. Whichever way you do it, the situation requires careful analysis. There are two key questions: Should you buy a home? And if so, is now the time? Here are some thoughts to help in focusing clearly and carefully on your decision: First, whereas most things you buy deteriorate in utility and value, a home generally doesn’t. While fridges and cars and so on need to be replaced every five to 10 years at higher and higher expense, your home usually just requires a spot of maintenance and a lick of paint every now and then to keep its value stable or rising. History suggests that one can expect real estate values to at least keep up with the general cost of living. Bermuda’s finite amount of development space means there is always likely to be a healthy demand for houses.

RENTING vs BUYING Let’s assume you’re now renting and planning to buy for the first time. A 20year mortgage would enable you to own your home free and clear in 20 years. Why take on such an onerous longterm commitment? For one thing, owning your home gives you control over your housing costs. If you’re renting now, you know that landlords like to raise their rents every year. Real Estate Handbook 2022

BUYER’S GUIDE Meanwhile, mortgage payments remain stable, even if your monthly mortgage will probably be higher than the monthly rent on a comparable property for the first few years. Owning a home also confers another distinct advantage: if necessary, you can sell it and collect the profit. But really, a house is much more than an investment — it’s your home. There are many wonderful feelings that come with owning a home. You gain control over your lifestyle. You will never have to move because a landlord is selling the building or raising the rent or doesn’t like your pets or your children or you! You will have something meaningful to give to your children. Just like with any other investment, ignore short-term ebbs and flows in value. Building your equity is a slow process. But you can decorate or improve your property any way you wish. And unlike a tenant, you benefit from the improvements you make: wise upgrades make the home more valuable. You will likely recoup most of the expense in the form of profit when you sell. It was never easy to buy a house in

Bermuda but very few have regretted taking this bold step to freedom.

BUILDING EQUITY In addition to pure price appreciation, you enjoy other financial benefits from owning your own home. One of the most important is the build-up of equity. Equity is the difference between the value of your home and the balance still payable on your mortgage. Your equity builds each time you pay off on your mortgage. Part of every mortgage payment is applied toward reducing the mortgage principal. As you gradually reduce the outstanding loan balance, your equity increases. It also increases as the value of your house appreciates. It’s actually a form of savings. Instead of putting money in a savings account, you are saving it in your home. As such, it can be used as collateral for all kinds of further borrowing.

THE APARTMENT ISSUE Is it better to go for a property with an apartment for rental income? It’s

a judgment call, really. An attached apartment generally comes at a premium price, and there is no guarantee that it will be rented all or indeed any of the time. And do you really want to have all the headaches of being a landlord? It’s certainly not a matter of sitting back and counting the rent. Another aspect is that your bank might not count all your anticipated rent as steady income when it works out what you can afford to borrow. It may go as far as to chop the figure in half.

THOSE HIDDEN EXTRAS If you buy a condo, there will be a monthly maintenance fee which covers exterior upkeep, landscaping and home insurance. However, you will still be liable for land tax assessed on your individual condo unit. If you are buying by the traditional method, you will have the same land tax liability plus the necessity to deal with insurance yourself — or you can ask your bank to do it for you and make a monthly charge. It’s as well to allow a few hundred dollars a month towards exterior maintenance.

BERMUDA MORTGAGE READY RECKONER Purchase Price

$500,000 $750,000 $1,000,000 $500,000 $750,000 $1,000,000 $500,000 $750,000 $1,000,000 $500,000 $750,000 $1,000,000

Loan amount

80% $400,000 $600,000 $800,000 75% $375,000 $562,500 $750,000 70% $350,000 $525,000 $700,000 65% $325,000 $487,500 $650,000

Down payment

20% $100,000 $150,000 $200,000 25% $125,000 $187,500 $250,000 30% $150,000 $225,000 $300,000 35% $175,000 $262,500 $350,000

Monthly payment term - 20 years @ 6.5%

Estimated total interest paid over 20 years

Monthly payment term - 30 years @ 6.5%

Estimated total interest paid over 30 years

Estimated closing costs

Estimated annual income needed to qualify

$2,982 $4,473 $5,965

$315,750 $473,625 $631,502

$2,528 $3,792 $5,057

$510,177 $765,267 $1,020,354

$13,800 $21,775 $28,550

$80,000 $120,000 $160,000

$2,796 $4,194 $5,592

$296,016 $444,024 $592,032

$2,370 $3,555 $4,740

$478,294 $717,437 $956,584

$13,700 $21,575 $28,300

$75,000 $110,000 $150,000

$2,610 $3,914 $5,219

$276,282 $414,422 $552,562

$2,212 $3,318 $4,424

$446,407 $669,610 $892,813

$13,550 $21,325 $27,950

$70,000 $104,000 $140,000

$2,423 $3,635 $4,846

$256,546 $384,821 $513,095

$2,054 $3,081 $4,108

$414,519 $621,779 $829,038

$13,450 $21,050 $27,650

$65,000 $97,000 $130,000

• estimates include legal fees and stamp duty for the Conveyance (based on Purchase Price) AND the Mortgage (based on Loan Amount); • estimates of legal fees are based upon the Bermuda Bar Association’s recommended scale of fees for Conveyances and Mortgages; • estimates are based on legal fees for Conveyance being shared equally by the Purchaser and the Vendor; • estimates are based on Purchaser NOT qualifying for stamp duty exemption as a ﬁrst time home buyer; • closing costs do not include any Bank’s fees associated with the Mortgage (usually 1% of amount being borrowed). • Estimated annual income needed to quality for loan varies based on numerous personal circumstances. These number are intended as a guide only. Real Estate Handbook 2022

ENVIRONMENT

Bottled Water that’s Better for Bermuda Bermuda Waterworks explains why its bottled water is an excellent choice for those concerned about our environment

he bottled water industry was going green long before the term became popular. Through its home and office segment, the industry has demonstrated a significant impact on reducing pollution through the repeated use of its bottles until their life cycle is completed. Bermuda Waterworks manufactures bottled water in reusable 3- and 5-gallon containers. The company repurchases used bottles in

Pure Water is great tasting and an environmentally responsible choice. It is essential to get proper hydration to maintain your body’s mental and physical performance. BERMUDA WATERWORKS IS HERE TO MEET ALL OF YOUR WATER NEEDS WITH OUR DISTILLATION AND DESALINATION TECHNIQUES.

CHECK TO SEE IF OUR PIPELINES PIPELINE ARE AVAILABLE IN YOUR AREA. CONTACT US TODAY.

Check out the easy to use PURE WATER & PURE ICE VENDING MACHINE E MAKE SURG YYOU BRIN LE TT BO YO Y UR CAP!

OPEN 24 HOURS

HOURS OF OPERATION

MONDAY - FRIDAY: 8 a.m. – 5 p.m. (OFFICE, RETAIL SHOP & DRIVE THRU)

A DIVISION OF BERMUDA WATERWORKS LIMITED

SATURDAY: 9 a.m. – 1 p.m. (DRIVE THRU ONLY)

order to encourage clients to return them in good condition for a full credit on their next transaction. Empty bottles should only be refilled with Pure Water. They are not meant to hold trash or other liquids such as drink mixes — a popular choice at picnics. A bottle that has been used for drink mix cannot be reused by Bermuda Waterworks. The company encourages clients to contact them if they need rejected bottles for any sports or fundraising events. Bermuda Waterworks’ most popular water cooler is Energy Star rated. These coolers help residents and businesses reduce their energy bills, and can help make a difference for the environment. This is because products that earn the Energy Star prevent greenhouse gas emissions by meeting strict energy efficiency guidelines set by

the US Environmental and Protection Agency. These energy efficient coolers are available in room temperature/cold and hot/ cold models. The company also sells water-dispensing equipment that do not require any electricity. There is the very popular dolphin pump, where water is manually pumped out of the bottle. There is also the compact cradle and valve that sit perfectly on any counter. The ceramic crockpot is another decorative option. All of these models dispense water at a pleasant room temperature. Bermuda Waterworks also provides piped metered water, 100% of which is manufactured by reverse osmosis. This process requires electricity. However, over time, new and energyefficient equipment has been installed in order to reduce our consumption of fossil fuels. The company encourages residents to use its utility water wisely as a top-up supply. A new self service vending machine has been installed. It dispenses Pure Water and Pure Ice. Clients can bring their reusable empty bottles and purchase water. Clients can even reuse their cap if they wish. Going green made easier with budget friendly options. For more than 85 years, Bermuda Waterworks has manufactured water to meet the island’s growing needs. The company will continue to do its part in making water production as green and efficient as possible. Real Estate Handbook 2022

ENVIRONMENT

Cool your space green rated air-conditioner, but what is a SEER rating? SEER is the abbreviation for Seasonal Energy Efficiency Ratio, and it is calculated from the cooling output during a typical cooling-season divided by the total electric energy input during the same period. It is important to distinguish that it is the average calculated over a season and is figured out under laboratory-simulated conditions. It is likened to the mpg (miles per gallon) ratings on cars, and, although mpg can vary depending on how you drive, it does offer a clear indication of the fuel

efficiency possible. You can have the highest SEER-rated air-conditioner on the island, but, if it has dirty filters, blades, or coil surfaces, it will not achieve those energy savings. Regular maintenance is critical for continued high efficiencies. You will find that higher SEER-rated systems come with a higher price tag. But often, within two to three years, the initial extra expense is recovered through lower running costs that not only save money but also contribute to a greener, cleaner planet. www.hvacbda.com. Tel: 234 6227

Wayne Clapham of HVAC Shack explains why a SEER rating is important An average of 35% of electricity consumption in homes goes to airconditioning. So how can you save money and help the planet? One way is to invest in a high SEER-

38 SEER

18 SEER

Inverter Driven Mini Split Heat Pump

Visit us at HVACbda.com to find out more.

(441) 234-6227/747-7627 Afterhours

Real Estate Handbook 2022

hvacshack@ coldsnapservices.com

G10 Inverter Technology

Intelligent Defrost

Programmable Timer

Multiple Fan Speed

Comfortable Sleep Mode

Control Lock

Self-Diagnostics

Auto Restart

Low Voltage Startup

Verticle Swing Louvers

Acrylic resin anti corrosion coating

Selectable Dry Mode

Backlight Display

Automatic Operation

XK-41 Wired Controller (Operational)

Universal WIFI Kit No. WSBEC02/WSBEC03 (sold separately)

co nye rs .com

For experienced legal advice on all property matters contact Conyers’ Real Estate and Property Development team.

BUYING, SELLING, LEASING, DEVELOPING?

We welcome both local and international clients.

LEGAL ADVICE

Acquiring Bermuda Real Estate:

Experienced, Local Legal Advice is Critical B

uying real estate can be a complicated procedure, especially in Bermuda. With no title insurance in Bermuda, the purchaser needs to confirm the title is in order through their attorney. An experienced local lawyer can assist you in determining whether you will acquire good title to any property before you buy. With over 75 years of experience in the Bermuda property market, Conyers can advise on any real estate deal on the island, whether standard or complex, residential or commercial. Our clients range from local home owners to international property developers. We have extensive experience working on large residential, commercial, condominium, hotel and resort property deals in Bermuda. The law relating to the acquisition of Bermuda real estate by non-Bermudians is complicated. The Bermuda Government restricts the properties, both freehold and leasehold, available to non-Bermudians to the upper end of the real estate market, along with those linked to hotel developments. The intention of this restriction is to preserve the majority of the housing stock and undeveloped residential land for Bermudian ownership. Whether or not a property is available for purchase by foreigners is determined by its annual rental value (ARV ) ascribed by the Government valuation department. Presently, only houses with an ARV above BM$126,000 and condos with an ARV above BM$25,800 qualify. Realtors typically indicate if a property is available for purchase by foreign buyers. Non-Bermudians require a licence from the Minister responsible for Immigration before they are granted permission to buy a house or leasehold condominium. The application, which

Real Estate Handbook 2022

Conyers can advise on any real estate deal on the island

Francesca Fox

must refer to a specific property, may take between six and eight weeks to approve. The advice of a Bermuda lawyer who is familiar with the law relating to non-Bermudian purchasers and with the licence application process can save much time and ensure the purchase goes smoothly. Like all Bermuda attorneys, our charges for property transfers are made in accordance with a scale established by the Bermuda Bar Association. Our attorneys also have a wealth

of experience in all kinds of property financing, including residential and commercial mortgages and project financing. We work with all major banks in Bermuda and act extensively for both lenders and borrowers. Should the need for litigation arise, we can handle all aspects of civil and commercial arbitration and litigation in connection with residential or commercial property. Conyers Real Estate and Property Development Team Francesca S. Fox Director francesca.fox@conyers.com +1 441 278 7989 Oliver Goodwin Associate oliver.goodwin@conyers.com +1 441 278 7996 Cynthia M. Millett Counsel cynthia.millett@conyers.com +1 441 298 7898 27

LEGAL ADVICE

When Purchasing Your Dream Home… Denis de Frias provides a guide to help you buy your new home. 1. Get Your Finances in Order • Preapproval: A mortgage charges the title of the property until repayment of the loan is complete, at which time the charge is released. It’s always best to start by making an appointment with a local lender to seek pre-approval for financing. Confirm with your lender how long preapproval lasts for. • Stamp Duty: The Government Stamp Duty charged on the transfer deed should be considered. Your attorney will prepare a mortgage deed; there are stamp duty and legal costs associated with this document, too, and these costs are the sole responsibility of the purchaser/borrower.

2. Find a Property Attorney While purchasing a property can be a relatively straightforward transaction, each deal presents its own unique circumstances that require the guidance of professionals trained in the intricacies of buying/selling Bermuda property.

3. Background Checks

Know what you are actually purchasing. • Property Condition: Bermuda is known for its proven construction methods; thus, buyers do not customarily request structural surveys. However, if the site is sloped, there is a possibility of termite infestation or outdated electrical and/or plumbing installations. • Boundaries: Ensure that the seller restakes the property boundaries to ensure there are no encroachments or other discrepancies. • Tenants: When purchasing a property that contains one or more units, verify: • If tenants are currently living in the property • Rent registered with the Rent Commissioner’s Office • There have been no illegal increases in rent and the history of tenant payments. • Planning Search: A planning search is conducted to ensure that no property development has been made without

planning permission. This usually takes four weeks to be processed. • Title Search: Your attorney will conduct a title search and will also search the Land Title Registrar’s Office and Supreme Court for any outstanding mortgages and judgments against the property, the seller, and predecessors in title. Land Taxes: These are payable twice a year in equal instalments. The history of payments should be verified.

4. Sign on the Dotted Line: Once you have made an offer on the property, and it has been accepted, your attorney will review the sale and purchaseagreement and make any necessary amendments before you sign it. Denis de Frias is a director of MJM Limited and is responsible for the firm’s property practice. Mr de Frias has more than 20 years of experience in a broad range of property transactions, including condominium development, complex financing structures and residential and commercial real estate sales and purchases.

Real Estate Handbook 2022

EXPERT ADVICE

Building, Interior Design, Decorating Services & Furniture Stores Anslie’s Interior Décor Cindy Laws 236-9993 BAC Group of Companies Ken Parker, Operations Man 292-0881

info@anslies.com kparker@bac.bm

www.ansliesdecorbermuda.com www.bac.bm

BATE’S/Joshua Bate Trading Bermuda Ltd. Jill Hanson

236-7880

jill@bate.bm

www.bate.bm

Evergreen Landscaping First Class Air-Conditioning Furniture Walk Hamma Galleries HASCO Home HVAC Shack Intelligent Automation Solutions Island Glass Ltd OBM International

Manuel Pimentel

293-8817

evergreenlimited@outlook.com

Shawn Simons Chris Mayne

333-3603 292-5209 292-8500 238-0198 747-7627 293-4887 295-5134

firstclass.air2@hotmail.com chrismayne@furniturewalk.bm info@hamma.bm home@hasco.bm hvacshack@coldsnapservices.com info@intelligentautomation.bm sales@islandglass.bm

Architecture, Interior Design & Landscape Architecture Zachary Simmons Manuel Pimentel Michael Ross

278-3550 292-8453 293-8817 337-1168

bermuda@obmi.com sales@pts.bm pimentelpools@outlook.com mrosspainting@gmail.com

Jaymo E. Durham Francesca Fox, Director Denis de Frias

292-2308 278-7989 292-1345

jdurham@amicuslaw.bm Francesca.Fox@conyers.com ddefrias@mjm.bm

www.conyers.com www.mjm.bm

Perry Trott

295-7444

ptrott@td.bm

www.td.bm

Consumer Credit Dept 298-4799 Personal Banking 299-5959 (option 1) Personal Lending 299-5959 (option 5)

info@butterfieldgroup.com

www.butterfieldgroup.com www.hsbc.bm

Cesa Edwards Sue Frith Sue Lusher Albert Moura Kim Sheen Heather McInnis Brittany Archer Sally Ann Smith

232-2769 333-7067 333-9138 236-0737 734-1264 737-5753 505-1466 535-4521

cesa@bermudalongtail.com sue@frith.bm sue@joylusher.com albert.moura@kwbermuda.com

www.bermudalongtailrealestate.com www.frithrealestatebda.com www.joylusher.com www.kwbermuda.com kim@kimsheenproperties.bm www.kimsheenproperties.bm heather@mcinnisandassociates.com www.mcinnisandassociates.com brittany@tpg.bm www.property-group.com sallyann@tpg.bm www.property-group.com

Real Estate Appraiser McInnis & Associates

Larry Sticca

704-0454

larry@mcinnisandassociates.com

Specialty Services Bermuda Elite Cleaners

Sarinna (Jackie) DeMello

234-1043 705-8821 236-1823 299-7873 292-9509 292-9509 296-9524 295-1811

bdacleaners@btcnet.bm

Pembroke Tile & Stone Pimentel Pools Ross Painting Lawyers Amicus Law Chambers Ltd Conyers MJM Ltd Trott & Duncan Mortgages Butterfield HSBC Bermuda Real Estate Bermuda Longtail Real Estate Ltd Frith Real Estate Joy Lusher Real Estate Keller Williams Bermuda Kim Sheen Properties McInnis & Associates The Property Group Ltd

Bermuda Pest Control Bermuda Waterworks Fast Forward Freight P&M Electrical Temperature Control & Plumbing Real Estate Handbook 2022

Lynn Hassell Wayne Clapham Matt Walker

Justin Tavares Karlene Kelly Tim Southern Luis Martins Terry Corday, Sr., Pres/Owner Trevor Gillis

bpest@northrock.bm purewater@bwl.bm tim@teamfast.bm Luis@teamfast.bm Terry@pandmelectric.com tcp@northrock.bm

www.furniturewalk.com www.hammagalleries.com www.hasco.bm www.hvacbda.com www.iasbda.com www.islandglass.bm bermuda.obmi.com www.pts.bm

www.mcinnisandassociates.com

www.pestcontrol.bm www.bwl.bm www.teamfast.bm www.teamfast.bm www.temperaturecontrol.bm 29

Right at home, by .

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