Island Property News July 2014

THE SINGLE SOLUTION FOR ANY BUILD.Allow Gorham’s to partner you with our preferred team of architects and contractors. Take advantage of our buying power when we procure materials for your project. Our full design service includes 3D renderings, budgeting, fi nancial forecasts. Stay on time and on budget with Gorham’s Management & Design Services.

OUR CORE PROJECT VALUES ARE:Transparency, Accountability, Integrity, and Connectivity.

Steve Cristofoli - Project Manageremail: [email protected]: 441.295.1550 x 181cell: 441.531.1550

OUR GOALS ARE TO INNOVATE, DESIGN, BUILD, AND SAVE YOU MONEY.

FROM INCEPTIONTO COMPLETION.

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Whether you’re in the market to build a new home or remodel your

current home.

Consider Gorham’s Management & Design Services to handle every

aspect of your project.

Local homeowners who rent their houses to vacationers stand to benefit greatly if officials in Bermuda land the America’s Cup in 2017.

Participants of the international sailing event need accommodations for weeks at a time and hotels are often not practical. Furthermore, Bermuda is sure to run out of high-end hotel rooms based on the number of affluent sailing spectators that typically attend. Palatial vacation rentals will be a popular plan B, if not already designated as the preferred plan A.

www.islandpropertynews.com / July 2014 / Island Property News 01

AmericA’s cup To rAise DemAnD for VAcATion renTAlsBy Glenn Jones

In 2013, one-third (about 217,000) of spectators to the America’s Cup in San Francisco came from outside the state of California, according to a Bay Area economic report. Because of Bermuda’s remote geography, nearly 100% of spectators will fly in and all of them will need a place to stay while here. The event lasts for weeks.

Last year, 23% (59,423) of air visitors to Bermuda stayed in private homes, according to the Bermuda Tourism Authority. A sizeable portion of that number represents people in vacation rentals – a number already on the rise and would potentially skyrocket if the America’s Cup should sail on Bermuda’s Great Sound in 2017.

2013 San Francisco America’s CupSource: Bay Area Council Economic Institute

Economic impact $364.4 million

SpEctatorS700,000

SpEctatorS from outSidE california

217,000

jobS2,863

Featuring properties for sale and rent, helping residents and visitors to findthe perfect home. Available free every month, distributed island wide.

JulY 2014Homes for resiDenTs & VisiTors

free

02 Island Property News / July 2014 / www.islandpropertynews.com

reAl esTATe inDex

GorhamsRealtor listings and overseas purchasers guidelinesCranfields Property BermudaRoderick De CoutoProgressive RealtyJoy LusherSinclair RealtyRental listingsRowe Spurlingbf&m

Island Property News is published and printed by MediaHouse

Bermuda - Bermuda Sun and Island Press, in partnership

with Tricia Lines and Diana Heslop

Booking Deadline:15th of the month prior to publication

Artwork submission deadline: 20th of the month prior to publication

conTAcTSales Carlita Burgess 278 1852Diane Gilbert 278 1853Claire James 278 1855Trikeita Outerbridge 278 1804

Sales & EditorialLisa Beauchamp 278 1850Robyn Bardgett 278 1810

Distribution Larissa French 278 1851

Print Chris Mitchell 278 1809

Rental listingsLarissa French [email protected]

Email:[email protected]

reAlTor lisTinGs

1609 Vip Exec T. 232-1609 • F. 232-1610 E. [email protected] www.1609vipexec.com Acorn Realty T. 236-4800 • F. 232-4222 E. [email protected] www.acorn.bmBermuda Longtail Real Estate Ltd. T. 232-2769 • F. 232-2770 E. [email protected] www.bermudalongtailrealestate.comBermuda Property Link Ltd. T. 232-7272 • F. 232-7273 • C. 704-6212 E. [email protected] www.bermudapropertylink.comBermuda Universal Realty Ltd. T. 295-1546 • F. 295-8734Boeotia Property Company Ltd. T. 297-3038 • F. 297-2348 E. [email protected] Enterprises Ltd. T. 295-0754 • 295-1495 E. [email protected] www.capcar.comC.R.E. Properties Ltd. T. 535-5487 • F. 295-8158 E. [email protected] www.creproperties.comCareCorp Ltd. T. 292-2432 • F. 292-2175 E. [email protected] Bermuda Realty T. 735-3471 • F. 297-5873 E. [email protected] www.caribbermuda.free.bmCentury 21 Bermuda Properties T. 441-293-2121 F. 441-295-6840 www.century21bda.comColdwell Banker Bermuda Realty T. 292-1793 • F. 292-7918 E. [email protected]: www.bermudarealty.comCoral Properties Limited T. 295-7434 • F. 295-5944Cranfields Property Bermuda Ltd. T. 305-8074 • E. [email protected] www.bda4sale.comCrisson & Company Ltd. T. 295-0826 • F. 295-3221 E. [email protected] www.crissonrealestate.comDale Young Properties Ltd T. 441-236-5200 • F. 441-236-5201 E. [email protected] www.dyproperties.bmDeCouto & Dunstan Real Estate Ltd. T. 292-0616 • F. 295-4618 E. [email protected] www.decoutoanddunstan.com

Dunlop Realty Co. Ltd T. 295-0734 • F. 295-8266 E. [email protected] www.dunloprealty.bmele properties T. 296-7096 • F. 297-3787 E. [email protected] www.eleproperties.comFiduciary Realty T. 705-9538 • Lea T. 505-0675F. 232-2989 • E. [email protected] www.fiduciaryrealty.comGar Bermuda Ltd. T. 234-1674 • C. 332-9770 E. [email protected] W. www.garbermuda.bmGutteridge-Hart Property Management & Rentals T. 232-2437 or 504-0022 E. [email protected] Realty Ltd. T. 296-1518 E. [email protected] Property Services Estate Agents, Auctioneers & Appraisers T. 292-9328 • F. 278-9928 E. [email protected] Properties T. 236-2644 • F. 236-6202 E. [email protected] Realty & Associates T. 331-5532 • F. 234-2050 E. [email protected] www.jbmrealtyandassociates.comJoy Lusher Real Estate Ltd. T. 236-5120 • F. 236-7409 E. [email protected] www.joylusher.comKM Realty Ltd. C. 535-2400 • E. [email protected] www.kmrealty.bmKim Sheen Properties C. 734-1264 • T. 541-4977 E. [email protected] www.kimsheenproperties.bmKirkland Realty & Associates T. 335-3975 E. [email protected] & Company Ltd. P.O. Box HM 449, Hamilton HM BX T. 295-2525 • F. 295-0814 E. [email protected] www.kitson.bmLeonard O. Gibbons Real Estate Ltd., T. 292-4905 • F. 292-2175 E. [email protected] Orchard Real Estate Ltd. T. 524-6905 • E. [email protected] www.More.bmMasterkey Management Ltd. T. 234-7287 • C. 300-7287 E. [email protected] www.masterkey.bm

McInnis & Associates Ltd. T. 295-1663 • Cell: 737-5753 F. 292-1210 • E. [email protected] www.hmcinnis.commoura & associates T. 236-0737 • F. 236-0413 E. [email protected] www.mouraandassociates.comMy-Bermuda-House.com Limited Tel. 292-6245 E. [email protected] www.my-bermuda-house.comPlatinum Realty T. 238-6037 • F. 238-6035 E. [email protected] www.platinumrealty.bmpremier properties T. 232-0083 • F. 232-0083 E. [email protected] www.premierpropertiesintl.comprime Equities real Estate T. 295-4446 • F. 292-8324Progressive Realty Ltd. T. 295-4255 • F. 292-9950 E. [email protected] • www.prg.bmProperty Group Ltd., The T. 234-6900 • F. 234-6892 E. [email protected] www.property-group.comRego Sotheby’s International Realty T. 292-3921 • F. 295-7464 E. [email protected] www.regosothebysrealty.comRego Realtors T. 292-3921 F. 295-7464 E. [email protected] www.regorealtors.comRoderick DeCouto Real Estate Ltd. T. 292-4990 • F. 295-8530 E. [email protected] www.decoutore.comRuby Dane Realty T. 232-4461 • F. 232-7280 E. [email protected] www.rubydanerealty.comSinclair Realty/Christie’s Great Estates T. 296-0278 • F. 295-8693 E. [email protected] www.sinclairrealty.comSmithBridge Realtors T. 292-1388 • F. 296-0069Somers Realty Ltd. T. 236-4001 • F. 236-5588 E. [email protected] Gauntlett Realty Tel. 295-4747 • Fax. 295-4746 E. [email protected]. www.bermuda.com/hosted/tedgauntlettWigwam Real Estate Ltd. T. 297-3800 • F. 297-3801 E. [email protected]. Seymour Real Estate Ltd. T. 441-292-2342 • F. 441-292-8210 E. [email protected] www.wjseymour.bm

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oVerseAs AnD non BermuDiAn BuYersThe purchase of property in Bermuda by non Bermudian / international Buyers is subject to certain restrictions and it would be useful to have a knowledgeable real estate professional to help navigate the process.Information supplied by Cranfields Property BermudaGenerally speaking:

International Buyers may only buy a house with an Annual Rental Value (ARV) over $177,000 or a condominium with an ARV over $32,400 which is in a Designated Development. Prospective International Buyers must apply for a Licence to Acquire Land and submit an application along with a consideration fee of $1 416.00 (refunded if the license to own property is granted).

From 1st April 2013 the cost of a License to Acquire is reduced from 18 percent to 6 percent of the purchase price of a condominium and from 25 percent to 8 percent of the purchase price of a house.

After 1st October 2014 the licence fees will rise to 8 percent of the purchase price of a condominium and 12.5 percent of the cost of a house

Agreement in principle between an international buyer and seller includes a deposit of 10 percent of the purchase price. The deposit is held in escrow, subject to contract, and deducted from the overall purchase price.

Properties that form part of a Tourism Designated Development or a Resort property are subject to a 6.5 percent licence fee.

International Buyers may not buy land without a dwelling on it, commercial real estate or property intended mainly to earn rental income.

International owners may be granted permission to rent their property by the Immigration Department. Permission rarely extends to periods of more than a year and includes a tax of 7.25 percent.

Prospective international buyers may want to review the Bermuda Immigration and Protection Act 2007 amended 2012 or contact me for assistance.

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sellinG AnD sTAGinG By Sharon Cranfield / Cranfields Property Bermuda Ltd

This is not for the faint-hearted! The importance of impressing your buyer with the appearance of the home is paramount. It really pays to help them envision how they would use the space and live comfortably in your home. This means appealing to their senses of sight, smell, sound, feel and touch of your buyer.

Declutter : Yes it’s hard to do! But it’s harder for buyers to picture themselves in your home when they see personal memorabilia on every surface. It also distracts the buyer from seeing the merits of your home. Be prepared to store surplus items leaving a select few to enhance chosen areas. It won’t be forever, only while your home is actively being shown.Clean: Do a really thorough clean; make every room immaculate. Remember the senses of touch and smell –– leave nothing sticky and smelly (that includes the dog). Wipe down all surfaces, clean windows to maximize light, clean carpets and soft furnishings, open the windows to air the rooms. You aren’t ready to place furniture or pretty things up until this is done!Entrance: The first impression –– from the moment the buyer sees the front door it is show time. Clean, shine, tidy –– make it attractive. There’s nothing like a pot of bright flowers at a welcoming entrance door to make a buyer perk up.less is more: Show off the floor and wall space. Too much furniture makes a room feel smaller, using smaller-sized furniture can make an area appear more spacious. The buyer will pay more for greater square footage and we need to help them see that it is there.Flow and use of space: Draw buyers to highlights of each room by arranging the furniture around focal


HomemADe WillsCheri Minors, Associate, Cox Hallett Wilkinson Limited

points –– a lounge suite surrounds the fireplace, the bed is the focal point in the bedroom –– make it sumptuous and inviting. Outside patio chairs look to the view –– invite the buyer to want to be the owner of that view. Freshen: New paint –– you can’t beat it for an instant freshen and clean up. Neutrals are best as they lighten and brighten. Then dress your room– accessorize –– have fun by adding vibrant accents to tie soft furnishing colours together and to make the room “pop”. Don’t forget the power of the sense of smell and this is where the use of freshly scented candles, potpourri and bath soaps can be your friend.Lighting: Bright equals clean –– replace missing light bulbs (definitely in the kitchen and bathroom). Add a lamp to a dark corner and attractive matching lamps to frame a bed. Use colourful sheer drapes that enhance the windows. Lighting is hugely important to ambience and how a buyer sees and feels about a room.Set the Scene: Stand back and imagine –– how much warmer and inviting would the fireplace be if arranged with candles? What can you to do make the kitchen feel like the heart of the home? Does the dining room look inviting? What if you filled a lovely unused bowl with oranges and show it off as a bright table centerpiece? And, in the bathrooms think “spa-like” and update with fluffy towels and coordinated shower curtains etc. Change isn’t easy: And there is no guarantee that this will pay off but one thing is for sure, you stand a far better chance of selling if your home is appealing.


Tel +1 441 296 0278 | [email protected] | www.sinclairrealty.com

Bermuda’s Luxury Real Estate Specialist

Whether you are seeking a beach, boating or golf estate, historic home, private island or quality condominium, Sinclair Realty offers the finest cache of properties island-wide.

As Bermuda’s exclusive affiliate of Christie’s International Real Estate, we look forward to providing you with the depth of expertise and excellence that is characteristic of everything Christie’s does.

SINC03-1436_Island Property News Artwork for JUNE.indd 1 5/20/14 12:05 PM

renTAl lisTinGsDEADLINE FOR THE SUBMISSION OF RENTAL LISTINGS IS THE 15TH OF THE MONTH PRIOR TO PUBLICATIONPlease send your rentals to Larissa French at [email protected] or phone 278-1851

1 BeDroom

$6,000.00 (Listing No. (737) “Windswept” Executive stand-alone cottage enjoying water views all the way to Dockyard.Located with-in a minutes walk to the Lower Ferry stop offering ease of commute into Hamilton, this home is perfect for the executive single or a couple, presenting a respite from the busy world. Designed as an open-plan layout, the view is enjoyed from every room. The living room, dining room and den soak up the vis-tas through tall windows and lead out to the balcony through glass doors. The spacious bedroom is generously proportioned (20ft x 16 1/2 ft) with its own private balcony also enjoying the views. An ensuite bathroom in-cludes bathtub and shower and two pedestal sinks. Unfurnished. Available 1st August 2014 Roderick DeCouto Real Estate Ltd. Email: [email protected]. Ph292-4990

2 BeDrooms

$3,500.00 (Listing No. 734) Charming two-storey Bermuda Cottage at Roxdene, Pembroke. This unique cottage location on the grounds of Roxdene is within easy walking distance of Hamilton and is part of a friendly residential complex. The cottage comprises an open plan living/dining room with a working fireplace, plenty of windows giving it lots of natural light, wood floors, a spacious kitchen with gas stove, fridge/freezer, and a brand new stacked washer and dryer. Upstairs there are two spacious bed-rooms and one full bathroom. The cottage has a concrete patio area off the living room for outdoor entertaining, and tenants of the cottage may use the industrial size laundry facilities of the Roxdene Condominiums for heavy duty items. Available now. Roderick DeCouto Real Estate Ltd. Email: [email protected]. Ph. 292-4990


$5,000 Pembroke: Part of a duplex in Spanish Point with shared pool, Cobbler’s Crest is a two bedroom, two bathroom unit with powder room, updated kitchen with all new stainless appliances and granite counter tops. Additionally, there is central z/c and heat, working fireplace, a garage, hardwood floors throughout, and beautiful grounds with views. Available now, unfurnished. JOY LUSHER REAL ESTATE LTD. Contact: Donna Bennett: [email protected] or 535-9909 or Diana Martin: [email protected] or 337-0226 or Christie Plathe: [email protected] or 332-2296.

3 BeDrooms

$5,500 Hamilton Parish: Lovely views of Harrington Sound from the deep covered porch of this desirable rental, with two or three bedrooms, two bathrooms, powder room, dining room and kitchen. Unfurnished and available now. JOY LUSHER REAL ESTATE LTD. Contact: Donna Bennett: [email protected] or 535-9909 or Diana Martin: [email protected] or 337-0226 or Christie Plathe: [email protected] or 332-2296.

$7,500 Paget: Three bedroom three bathroom condo with spectacular views over Bermuda’s beautiful South Shore and beaches. Modern, spacious, two gas fireplaces, tiled throughout, reverse cycle a/c, large covered porch. Shared pool, and direct beach access. Available now, semi-furnished or unfurnished. JOY LUSHER REAL ESTATE LTD. Contact: Diana Martin: [email protected] or 337-0226 or Donna Bennett: [email protected] or 535-9909 or Christie Plathe: [email protected] or 332-2296.

$9,000.00 (Listing No. 515) Immaculate home with swimming pool in lovely and convenient Paget neighborhood. This 3 bedroom/2 bathroom home offers spacious rooms and lots of storage. The tiled entrance foyer leads into an open floor plan Living Room/Dining Room with a fireplace. French doors lead out to the private patio and entertainment pool area. The adjacent Family Room also has French doors leading out to the patio/pool area. Modern kitchen with dinette area includes stainless steel appliances, granite counter tops, and plenty of cabinets. The separate laundry room has more closet/storage space and is convenient to the kitchen and attached garage. Addition-ally there is a lower Studio Apartment – ideal for guests or a nanny – with its separate private entrance, full bathroom, and laundry area. The Studio can be negotiated into the lease, if required. Available Mid-August 2014. Roderick DeCouto Real Estate Ltd. Email: [email protected]. Ph. 292-4990

Realtors - Don’t forget to place your real estate rental

listings for frEE at

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roWe spurlinG pAinTBy Karolina De Costa

Decorating a room for the arrival of your new little one or updating a space for your growing prince or princess? There are many things to consider –– furniture, fabrics, and accessories. If you’re on a budget, a new look doesn’t have to break the bank. A fresh coat of paint on the walls can transform a room in an afternoon and old furniture can be given new life with a little elbow grease.

There are thousands of paint colours to choose from and often what starts as a fun weekend project can quickly become frustrating and overwhelming. To narrow down your choices, pick your wall paint last. If you’re getting ready for a new baby, start with furniture, fabrics and accessories and then pick a colour that will complement them. If you’re redecorating for your growing child use their favourite blanket, toy or picture as inspiration.

SelectionGet them involved by teaching them about colours and bring them to the paint store to be a part of the selection process. Now that you have a new colour, it’s time to focus on the best type of paint finish. Most paints come in flat, matte, eggshell and semi-gloss finishes but not all of them may be suitable for your project. While flat paints are great for hiding minor wall imperfections because they don’t reflect light, they’re also difficult to keep clean, and mark up easily. Save them for the ceiling but keep them off the walls and away from little hands. For a washable wall paint that can be kept clean for years, stick with a high-quality matte or eggshell finish. A little soap and water is all you’ll need for general cleaning but these paints will also stand up to a more aggressive cleaning for larger messes. If you’re up-cycling furniture try a semi-gloss finish. It’s perfect for smooth surfaces like woodwork or trim.Whichever finish you choose, to keep your growing little one healthy look for environmentally friendly latex paints that are low or zero in VOCs.

Volatile Organic Compounds get released into the air as the paint dries and may cause headaches or dizziness. Ask your retailer about the VOC content of their paint or look for the The Green Promise logo on our Benjamin Moore Paint labels. The Green Promise is Benjamin Moore’s assurance that its envi-ronmentally friendly paint meets and exceeds the strictest industry standards without sacrificing performance.How much paint will you need? One gallon of paint will cover between 350 to 400 square feet and is usually enough to paint the walls of an average size 12 x 14ft room once. Remember that darker colours may need more than one coat. When painting over an existing colour, a self priming paint will eliminate the need for a basecoat.Welcoming a new addition to your family and watching your children grow up is an exciting time for any parent. Giving them a personal and fun space can help them learn and explore.

For more painting tips, DIY advice or decorating inspiration, check out our Facebook page at www.facebook.com/rowespurlingpaintcompany or visit our website at www.rowespurlingpaint.com.

BF&M GENERAL295-5566 [email protected] www.bfm.bm112 Pitts Bay Road, Pembroke HM 08, Bermuda

Update Your Home InsuranceBF&M’s Home Insurance can make sure you are protected – from building and contents to mortgage protection that provides benefits in case of disability or death. Are you renting? BF&M offers contents-only cover that includes everything from possessions to tenant liability.

Phone 295-5566 for details or go online at www.bfm.bm.

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