Hey there thanks for joining me once again. I've been asked quite a few times lately by clients, "What determines my home's value?" So I thought I would take this opportunity to break it down for you. There are basically 4 factors that determine the value of your Cayman home:
Internal Factors: Things like the dating of the finishing, quality of the tiles and counter tops, as well as the state of appliances and furnishings are all important aspects of your home's value.
External Factors: These are things like curb appeal and landscaping that affect your home's outer appearance to buyers. Another important thing to note is that in Cayman, the elevation of the home and hurricane shutters are important external factors as well.
Supply and Demand: If there is a heavy supply, the value of your home will be lowered. Vice versa, if there is high demand with few options, your home's value will be higher.
Market Valuation: Most buyers require a valuation of their home for their bank's financing purposes. Your home's market value is determined by the comparative sales of other homes that are similar to or in the same area as your property. We encourage sellers to not only ask the agent for a CMA, but for a professional, independent appraisal as well.
There you have it, the four things that will affect the value of your home most in Cayman. As always, selling your home is going to, in main part, depend on your particular home, your timing and the current state of the market, so feel free to contact me if you have any questions.
Today I want to introduce you to Island Heritage insurance here in the Cayman Islands. I refer a lot of clients to them, and they always walk away happy. We have Mike Byrne with us today, the Senior Vice President of Island Heritage.
They offer many different products: home insurance, commercial insurance, motor insurance, and much more. If you live in the Cayman Islands, consider this your one-stop shop for insurance.
Because your home is one of your most valuable assets, protecting it is paramount to your well-being. This makes paying small premiums for insurance all worth it, because heaven forbid if your home were to be damaged or destroyed for one reason or another, I think it's safe to assume that you could not recover the costs by yourself.
One of the biggest mistakes that consumers can make is not having the right sum insured for their home. If you underestimate the value of what you're insuring, you could be penalized when you make a claim. You can avoid this by re-evaluating your property every three years to make sure that you're not under OR over-insured. There is no sense in paying too much of a premium, so finding the right valuation is important. Also, Island Heritage has chosen to donate to the Meals on Wheels program here in the Cayman Islands. We thank you for your contribution, and also for your excellent service to all of your clients!
If you ever have any questions about Cayman Island real estate, please do not hesitate to contact me. I'm always here to help!
Hey there thanks for joining me once again. I've been asked quite a few times lately by clients, "What determines my home's value?" So I thought I would take this opportunity to break it down for you. There are basically 4 factors that determine the value of your Cayman home: 
