It seems tantalizing to consider - owning a home in the tropical paradise of St. John in the U.S. Virgin Islands. You could go there to escape the cold weather. But there is something to be said for renting instead.
Here are several reasons why you should consider Saint John vacation rentals over owning a property there.
You Won’t Be Tied Down Long-Term
When you rent a home in St. John, you can look around different parts to see which you like. That means you can bounce around over several years until you finally pick a location that you enjoy the most. It’s all about experimenting.
For example, you might want a home close to the water one year, and then you might want to see what it is like higher up on a mountain. If you buy a home and wind up not liking where it is situated. then it can be a very expensive mistake. Renting a home allows you to avoid that.
You Won’t Have to Do Repairs
This is part of the aggravation of owning a home. Something breaks and you either have to fix it yourself (good luck, unless you are very handy) or you need to shell out money for an expert to come fix it. While it is nice to own something yourself, this is the part that makes people pull out their hair.
On the other hand, if something happens while you are renting, then all you have to do is contact the landlord, who will then come take care of the situation or they will be the ones sending people over to fix it. That is one less stressor that you have to worry about.
You Won’t Have to Pay More Over the Course of Time
You can enjoy St. John without having to empty out your bank account. Instead, you can use those savings to possibly buy a home elsewhere down the road. By waiting for a bit, you can truly enjoy having a property.
There are some benefits to owning, like tax benefits, increasing your real estate equity, and you won’t be held to restrictions that renters would face, like possibly not being able to bring a pet there. You just need to weigh that against what you get with renting. It’s important to do that to avoid an expensive mistake.