The REAL Cost of Owning A Private Island

Buying your own private island? Make sure you factor in these costs! It may be more than you bargained for!

The REAL Cost of Owning A Private Island

[NurseTalking]

He didn't even mentioned about the storms, tornados, or typhoons and change of weather conditions affecting those small islands. Life can be full of headache even if you have the money to pay for it.

[thomasTBJ]

This Chanel makes feel so broke but at the same time makes me dream big.

[jaydonpenner]

"You're thinking of the Carribean"
Shows picture of Norway

[driesvandenbrande]

Lifehack: Estimate the amount the ocean will rise the coming decades. Use a height map to estimate newly created islands as the sea rises. Build your island on top of your hill of choice. Now you just wait.

Edit: I'm going to stop responding to climate change deniers. If you're so deep down the denial rabbit hole that you can't even stand a joke regarding the subject, maybe you have an issue. Just saying.

[schrodingr]

Owning a private island is a perfectly balanced game with no exploit.

[marianchicago]

I would stay away from Caribbean, especially West Indies, used to work in a bank, had an older gentleman as customer, he told me used to have a “compound in West Indies “ for decades, but he said previous decade government came to him and told him they want to rent it, as he used as a vacation home, as they could use it, after couple years, they came in with an offer to buy it, and it was implied he better take the money, he wanted to look around for better deal, talked to people he knew and the people told him population is exploding and they need space to build on, they advised him to bargain a bit for better price but to cut his losses and take whatever money he gets or they will use government powers to repossess for public use, he was told that sentiment is turning against foreigners owning prime real estate in the country, then it took it him almost several years to take the money out of the country because government currency controls to prevent devaluation, they allow only certain amount in outflow, big corporations have the biggest piece of the pie, citizens are left to apply and go thru bureaucracy trying to get the money out

[NegativeAccelerate]

I live in Ireland. There are cheap empty islands all over the place. It’s just they’re all cold and wet and isolated and even if I was able to work from home my whole life, I’d never make any friends living on an island

[harismesic]

You aren't "buying" an island if someone else makes the rules on how you use the island. You're leasing the island, long term, usually 75 year contracts.

[TheGreekGodOfWallStreet]

In my opinion, a private island is a pipe dream. It definitely sounds great to relax on your own tropical island lounging about on white sand beaches and drinking Pina coladas or whatnot. But vacations are only satisfying when temporary and the purchase of an island is akin to that of a ball and chain. You become tied down by the necessary commitment to the island and your carefree vacation becomes a nightmare. Don't fall for this nouveau riche trap where the things you own will end up owning you. Be formless my friends.

[chetansingh]

Government: island for sale
Dude who wants a private place to live on: ight I’ll buy it
Government: 17 mil (+25mil hidden cost) oh and btw u can’t really do anything on the island for environment protection

[tillschmidt]

Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works

[missgaljazina]

The narrator: Oh look at him go
A static picture of a bird:

[jecny]

Islands are one of those things in life that even if you can afford it, your likely better off renting unless you plan to actually live there.

[IvyTania]

Well, you read my mind. I was just thinking of how to own a private island.

[Jogador]

My question is, are there many stories of island owners having issues with people looking for vacated islands to steal things from?

[XanBos]

Putting aside the main cost of an island, it would be interesting to see what it would cost per month to own one afterwards. The thought of owning an island has been on my list of things I would love to have. I wouldn’t want much as far as a living space, due to all the outdoors I would be enjoying, and I would try to make it self sufficient, aside from a monthly shipment of fresh foods and staples. If it was not to be my permanent residence, I sure would rent it out to recoup some of the costs. But the thrill of having and island as a getaway so that I could recharge and wind down, would make the cost worth every penny. The name of the island would be Castaway Island, just because it fits how I would feel while there.

[hodkin]

I'm 22 and own a private Island in Quebec, Canada. Worth it? Absolutely. The only unfortunate things accessibility to bring supplies and power. And i can mostly only use it during the summer. Besides those troubles I get my chunk of paradise during 6 month of the year that I absolutely enjoy.

[tobyey]

"you're picturing the carribean" *shows clip of norway* SMORT

[pervysage]

putting it out for rent is not for the income but for the "loss". you can put the costs of running it as a business so it's tax deductible. same reason megayachts are "out for charter" even though they are never booked. another way for the wealthy to avoid taxes

[hydrogehtab]

How to make it cheap: Start a construction company and later a boat shipping company... Instant stonkers