If you have been starting to dream of building your home in Roatan, Honduras, you are probably wondering just how much it costs to build on our beautiful Caribbean island. While it can be difficult to give a blanket answer – so many different factors are involved – here are some general guidelines below that you may find helpful.
Construction
On average, construction costs on Roatan are about $90 per square foot for wood structures and $110 for concrete. This estimate is for interior spaces. You can plan on paying about half of that cost for outdoor living spaces such as decking.
Taxes
Property taxes are still a great deal here and are calculated based on the sale price of the property. If you buy land and build, then your home will be measured and valued. Typically, taxes are about $200 per $100,000 and under. Before you buy a property or a home, make sure that the property taxes have been paid and are up to date. If it is your first year as the owner, you will need to pay a one time fee to make the name change.
Insurance
Property insurance on Roatan is also quite reasonable coming in at around $4.00 per $1,000. There are several insurance agencies on the island that can provide you with a quote for your specific coverage needs.
Benefits of Building
Land prices can be a steal in Roatan. Deciding to buy land in Roatan and build your own home can be a great option if you are not moving here on a deadline and want to take the time to make sure that you will end up living in the island home of your dreams. Since Roatan is an island and is part of Honduras, just be prepared for the pace of certain aspects of your build to not be the same as where you are from. Hiring a reputable builder and construction company, like Treasure Island, can save you a ton of hassle and headaches by being able to process permits, applications and know the building process inside and out. We always recommend that you ask for references and talk to previous customers of contractors that you may be considering so that you are confident that you will be in capable hands.
If you would like a quote on your specific home build, contact us today.
