When you think of how much it would cost to buy your own private island, you’d probably imagine (as we did) that you’d need to spend a few £million to secure your own idyllic retreat. However, we’ve come across a fantastic selection of island paradises that will set you back less than the price of the average UK home. Want to take a look?
Property prices in the UK aren’t cheap at the moment. According to the Office of National Statistics (ONS), the average home in the UK costs £249,000*. This cost is almost double if you’re looking to buy in the Capital where the average property costs £514,000* (ONS figures January 2021*).
So, as the world prepares to reopen, Brits have been looking to move to the coast to enjoy the extra space and outdoor lifestyle seaside living brings. But what if you could buy your own island for less than the majority of UK homes? Would you head to the British coast or buy yourself an island retreat?
Homebuying platform, Yes Homebuyers, has discovered six secluded islands currently listed for sale across the pond (in America and Canada), that could be yours for substantially less than the cost of the average UK home.
Yes Homebuyers looked at where they thought our money could be better spent and found six islands from Nova Scotia to Nicaragua, spanning 0.3 to 12 acres, offering the promise of island life for £370,000 or less.
Want to see the islands they found? Let’s take a look…
Big Tancook Island, Nova Scotia, Canada – £68,100**
The first plot on offer is the cheapest of the six. This is because this ‘island retreat’ is actually offered to the market not as a whole island but as an ‘island parcel’, meaning you can purchase a piece of Big Tancook Island to build your own family home, hotel or campsite. At 11.6 acres the plot, which could potentially be further sub-divided and sold, boasts 449 feet of prime oceanfront. It’s the biggest and most affordable offering on the list. However, you’ll have to share the island with 125 year-round residents rising to 200 in the summer. The island lies off the coast of the south coast of Nova Scotia in Mahone Bay, just six miles from the world-famous Chester Yacht Club, and is served by a regular passenger ferry.
Danhattan Island, Connecticut, North America – £197,000**
If you’d prefer island life offering a slightly warmer climate and having a whole island to yourself, then Danhatten Island in Connecticut could be the perfect choice for you. Danhatten Island, our second most affordable plot, comprises an island spanning half an acre that houses a cosy cottage retreat that is set in the middle of Ashland Pond in Griswold, Connecticut. For less than the price of the average UK house, you could purchase this wooded private island, complete with a cabin that sleeps eight and its own boat with mainland mooring. It’s the cheapest whole island on today’s list… Does it appeal?
Majestic Island, Wisconsin, North America £260,800**
Our third island gem is Majestic Island which can be found on the scenic Beaver Dam Lake in Wisconsin in the Midwest, USA. The one-acre island houses an off-grid cottage powered by solar panels, offering a relaxed pace of lakeside life surrounded by a plethora of wildlife including ducks, geese, songbirds, pelicans and herons. The lake is also known for having ‘the best bass fishing in the state’. The island comes fully furnished with its own boat and has the potential to make a great rental property.
Bocal Island, Bluefields, Nicaragua, Central America – £277,500**
Originally listed for sale at $560,000, this stunning island’s price has been dramatically reduced to $350 (approx. £277,500) to secure a quick sale due to the owner’s poor financial situation, meaning for about the same price as the average UK house you could own a delightful nugget of Caribbean paradise. Although the properties on Bocal Island, comprising a 2-bedroom guest house and a small caretaker’s cottage, reportedly need a lot of work, the two and a half-acre island has a lot more to offer including an infinity pool, a white sandy beach, a private dock and an elevated view of the surrounding waters.
Surrounded by a crystal clear sea that is ideal for swimming and snorkelling and first-class fishing nearby, Bocal island, which lies just off the Caribbean coastline of Nicaragua, South of Monkey Point, and a little north of the equator, offers so much potential to the right buyer.
Iguana Island Nicaragua, Bluefields, Central America – £376,600**
Increase your budget just a little and you could significantly upgrade your private island purchase by buying the five-acre Iguana Island. This very special island includes a three-bedroom, two-bathroom house, wrap-around porch, dining room, bar and living area, as well as staff accommodation. There’s also a boardwalk that stretches around the island and a 28-foot watchtower.
The island’s proximity to Bluefields means that supplies are more accessible than many other Central American or Caribbean island locales. The island also boasts television, internet and mobile phone service, which on a private island is quite rare. It also has the potential to rent out and build a helipad for even better connectivity.[Agent’s Note] Due to a family loss, the current owner says they will consider all reasonable offers. Iguana Island has definitely got us excited. How about you?
Isla Carabana Sol, Panama – £319,538**
For about £50,000 less than Iguana Island, Panama’s Isla Carabana is another exciting option. The island comes complete with a sailboat mooring, speed boat garage and a property with two ready to move in self-contained apartments.
The island also has serious party potential with a raised deck complete with BBQ, hot tub, tiki hut, private sandy beach and a private clear water swimming lagoon.
So you don’t feel too cut off from the outside world, the island also offers great Wi-Fi and phone signal and is located just a short boat ride from a number of great restaurants.
Having seen our private island selections that all cost less than the majority of UK homes, which would be your top choice? We’d love to hear!
**Prices correct at time of writing.