Verandah Estates

The all-in cost is made up of the property price, the land transfer tax, and an escrow agent fee. A two-bedroom villa is priced at USD 400,000 and a three-bedroom at USD 450,000. Land transfer tax is 2.5 percent, which Verandah Estates negotiated down from the usual 7.5 percent and counts as one of its main selling points. The escrow agent fee is USD 2,500.

Yes. Your investment, including the refundable USD 10,000 deposit, is paid into an escrow account controlled by the CIU.

Verandah Estates is developed by Elite Island Resorts, a leading resort development and management group in Antigua with more than 30 years of experience. The group is behind well-known all-inclusive properties such as The Verandah Resort and Spa, St. James's Club and Villas, and Galley Bay, and its work spans the Eastern Caribbean, including Antigua, St. Lucia, Barbados, and the Grenadines, as well as Panama, with marketing operations based in Florida and the UK. It has built and operated hotels, resorts, commercial centers, restaurants, and private homes, and maintains strong relationships with local architects, attorneys, accountants, and building authorities to help keep the purchase and construction process smooth. Over the years its properties have received recognition from outlets including TripAdvisor, Travel Weekly, Travel + Leisure, and Conde Nast.

Elite Island Resorts plans to turn the wider Verandah neighbourhood into a high-end village. The Verandah Resort and Spa is already a large development with villas, restaurants, bars, pools, beaches, a kids club, a gym, and a games area. Alongside it, Elite is building an eco-friendly resort, the Verandah Estates residential community, a supermarket, and other facilities for the village, and intends to expand Verandah Estates further. This ongoing and future development is expected to raise property values in the area, including the Verandah Estates villas.

There is a shortage of housing for mid and high income professionals in Antigua. As a regional financial center, the country hosts many banks, accounting firms, and insurance companies, along with telecom, utility, and hotel businesses that bring in expat executives who need accommodation. Elite Island Resorts also owns hotels and a large hypermarket and expects to rent some villas for its own executives.

Rental agreements are expected to run from one to five years, with many tenants being corporate clients who tend to stay long term.

Monthly rental income is expected to start at around USD 1,500 to USD 2,000 in order to attract tenants quickly, though actual figures will depend on market rates and conditions.

The expected resale price is a minimum of USD 450,000, though the final figure will depend on market rates and conditions.

Investors can upgrade appliances to stainless steel, covering the fridge, stove, toaster, and microwave, for USD 3,000. Countertops can be upgraded to granite in the kitchen or bathroom for USD 3,500 to USD 6,000. A 10 by 20 foot pool can be added for an extra USD 50,000 to USD 60,000, though for villas in the rental program the standard pool is recommended, since the added rental income would not justify the cost.

Each villa comes with a splash pool, a furniture package that includes an entertainment center and flat screen TVs in the living area and master bedroom, an en suite bathroom in the master bedroom, a living area, a full kitchen, countertops, a wood deck, and major appliances in a white finish such as a refrigerator and freezer, dishwasher, oven, stove, washer, and dryer. Also included are curtains, an air conditioning unit, lighting and plumbing fixtures, and access to a gated community with 24-hour security. Further items are included beyond these, and a complete list appears in the appendix of the purchase agreement.

Antigua is a safe country with a low crime rate. The entire Verandah development is gated, with 24-hour security and a designated entrance where guests are registered.

Yes, and the team can assist with arranging this.

Yes. Optional items available at extra cost include artwork, an upgrade from standard white appliances to stainless steel, satellite television, telephone and internet service, and a security system, among others.

CIP villa owners at Verandah Estates can join an optional rental program that guarantees coverage of all major ownership expenses, including property taxes, insurance, utilities, gardening, pool maintenance, and association assessments. On top of covering these holding costs, the program is expected to provide a return of approximately 1 percent per year from rental income.

These are estimates only. Residential property tax runs about 0.30 percent of the property value, typically based on the purchase price. Homeowner's insurance depends on the insurer and level of coverage but is typically no more than USD 1,500 a year. Maintenance fees depend on the level of service but are typically no more than USD 400 a month for basic upkeep and pool care. Association assessments are about USD 150 a month while Verandah Estates is under construction and likely around USD 350 a month afterward, set annually based on the budget for maintaining common areas such as roads, lighting, and security. Electricity is typically about USD 200 a month when the home is occupied and less when it is not.

The rental program guarantees that the investor incurs zero holding expenses and makes ownership completely hassle-free. The property is professionally maintained to Elite Island Resorts' standards, which supports its value, and the program offers the owner an additional return on investment.

Yes, insurers are willing to cover Verandah Estates villas for these events, and the cost is covered when the villa is enrolled in the optional rental program. The villas are also built to Miami-Dade hurricane standards to help protect the investment in a storm, which are rare in Antigua.

Yes. Verandah Estates offers to sell the villa after five years at a target price of at least USD 450,000. If the villa sells for less than that and the owner agrees to the sale, Verandah Estates will not charge any fees or commissions on the resale.

Yes. While staying in your Verandah Estates villa, you can use the facilities and amenities at the Verandah Resort and Spa at the same price as a guest.

Elite Island Resorts is a reputable and successful Caribbean developer focused on the long-term success of its projects and investor satisfaction. The purchase is a turnkey, hassle-free arrangement, and the investor receives freehold title to both the land and the villa rather than a timeshare, co-ownership, or divided share. It offers a clear exit strategy, with an expected resale of at least USD 450,000 in five years and no fees or commissions if that target cannot be met. The buyer pays only 2.5 percent purchase tax, negotiated down from 7.5 percent. The project is already underway, with villas built and residents living there, and it sits next to the Verandah Resort and Spa, a national park, restaurants, and one of Antigua's best beaches. The developer also runs marketing offices in the USA and UK, which supports the rental program and future resale.