Barbados Expat Forum

Expenses moving to Barbados?

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CanMomOf3

6/26/2016 22:13 EST

Hi,
We are considering a transfer to Barbados and are trying to figure out costs associated with living over there.
We visited Barbados last week and got a feel for the island, found a school we like (Providence), saw a house we really liked, but I need some additional help with expenses.
Can anyone help me with ~
Vehicles ~ we're planning on spending $35k-$40k USD on 2 cars. (Is this reasonable?)
What would interest be on a $30k USD loan? We won't have any credit in Barbados since we are just moving there.
What is property tax or other taxes on buying a car?
What is insurance?
Should we buy a car or lease a car?

Utilities ~ what would average utilities be on a 3,500 sq ft home? I know this varies quite a bit, but I would like to have some sort of idea. I saw that everyone keeps windows open & uses the breeze when possible. I'm good with that.

Groceries ~ what would groceries be for a family of 5? I'm okay with buying local, what's in season and learning all of this, but I'm sure my kids will want some US foods as well.

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acaito

6/28/2016 13:05 EST

I have a home in Barbados but don't actually live there year round yet! Electric is expensive in Barbados, I went with solar --helps alot. Have A/C in bedrooms only. Land Tax
Under the Barbados Land Tax Act, taxes are payable by property owners on the real estate that they own on an annual basis. The rates of tax applicable to residential property are as follows:

Improved Value Amount BB$
0% on first 190,000
0.10% on next 310,000
0.45% on next 750,000
0.75% on excess 1,250,000

Water, cable is comparable to US. I find supermarkets don't have things we are accustomed to the US, but Massy stores are pretty good..Also shop at Pricesmart (a US based co, like BJ's Wholesale. Hope that is helpful...like I said haven't really moved there yet, Good luck!

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mistywind

8/2/2016 12:15 EST

I don't live there yet myself but I visit my boyfriend often. I do know that he likes to order from island bargains for groceries. he also ships packages with them too. they have good prices us dollars

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