Can I Afford My Property in Cayman?

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The first step – you need to consider your financing abilities with the bank and make sure you can afford it. Next, you need to do everything you can to pay off all your debt. Interest rates are low right now, so you’ll want to pay off that debt as soon as you can! Eat into some of that capital. One day soon, when rates increase, you'll be happy you paid off a big portion when rates were low.

When determining what kind of property you can afford in Cayman, it's important to stay within your means. That means being disciplined, being feasible, and being practical. There are also some unique factors regarding Cayman real estate that you should be aware of. For instance, did you know you have to have life insurance in Cayman in order to buy a property? If you didn't, that's an extra few thousand dollars that isn't accounted for.

As a general guideline, use the stepping stone approach to property investment and don't over-invest yourself. This will allow you to sleep better at night…. And you’ll be able to grow your property portfolio over time! Be patient!

If you have any questions for us, feel free to give us a call or send us an email. We look forward to speaking with you soon!

Best regards,

Michael