May 28, 2019
Each year dozens of retirees in The Bahamas downsize from sprawling family estates to more manageable condominiums.
Empty bedrooms, high utility bills and grounds to maintain are a few reasons why moving to a condo is appealing, along with the desire to maximize retirement funds while increasing quality of life.
“Many retirees, or soon-to-be-retirees, choose to move to a smaller space because they no longer have children living with them,” said George Damianos, CEO of Damianos Sotheby’s International Realty.
“Additionally, they’re often looking to live somewhere that allows them to travel more often; a place they can “lock and leave” without having to worry about whether or not the pool man is going to show up while they are away.”
Less traffic, easier access to the airport and fewer crowds in stores are reasons why western New Providence is becoming a popular choice for this demographic in The Bahamas.
“Moving to a smaller space later in life can seem like a big change at first, but condominiums like Caves Heights on West Bay Street make the transition much less daunting,” Damianos said.
“The units at Caves Heights are some of the most spacious in the Bahamas – 40% larger than many of the other condos on the island.
When your kids have moved out, you may not need as many bedrooms, but you still don’t want to feel cramped.
The condos at Caves Heights are extremely spacious and offer incredible value – the price per sq. ft. is unbeatable.“
This value has also served to attract a large number of young people to the community. The residents are a lively mix of young local professionals and expats from Europe, Canada and US.
Noting the increasingly popularity of condominium living, Damianos observes “People are buying condos because they come without the stress of repair and maintenance.
Maintaining a full-sized, single-family home can become quite expensive and exhausting no matter what age you are - not to mention the drain on your savings.
Over the past few years, a number of Eastern Road homeowners have recognized the lifestyle upgrade that condominiums can provide, and have chosen to move to Caves Heights.”
The value of living at Caves Heights, Damianos added, is enhanced by its wealth of amenities which include two swimming pools, a fitness center and tennis courts.
The property also provides residents with golfs carts and a golf cart track which residents can use to access shopping and restaurants that are located adjacent to the community.
“Purchasing this style of luxury condominium is a good investment any way you look at it,” Damianos said.
“If you’re retiring in the immediate future, it makes for a turnkey relocation process. If you’re a young couple or family, Caves Heights offers a convenient, family-friendly environment at a fantastic price.”
Retirement with a View. For Bahamians looking toward retirement, condominiums like those found at Caves Heights (pictured above) on West Bay Street offer the best of both worlds: smaller, easier to maintain spaces coupled with resort-style amenities.
About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 970 offices in 72 countries and territories worldwide. Each office is independently owned and operated.
About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 10 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Harbour Island, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay, Albany and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2305 or info@SIRbahamas.com.