Not so great surprises for those of you considering moving to St Croix…
I get a lot of emails from people who want to move to St Croix and/or start a business here. Many of them want to rent before they buy, to make sure this is the right place for them. Others want to just buy a condo here, thinking they can live more inexpensively here than in the states. Still others pine for that cute cottage on the beach….for $100,000….. I have designed my website to be rich with information for people considering living here – in hopes of managing expectations and giving a realistic picture of life here in St Croix. But some people don’t want to take the time to read….so here are some “cliff notes” on the biggest surprises you’ll encounter if you’re moving here…
- High cost of electricity. It’s about 5X what it is in the states – so this presents a new and extra challenge for owning a business or even monthly cost of living.
- Slow economy. There are only 55,000 residents and there is a lot of competition for customers. Please do some research and have realistic expectations and a significant financial cushion if you are going to launch a business here.
- High cost of real estate (compared to states, but it’s cheap compared to other islands). You can’t get a home in a nice area here for much under $300,000. It’s tough to get a long-term rental in a nice area for less than $1000. People who rent in less desirable areas, typically have less than desirable experiences here.
- Condo fees. If you purchase a condo, average $700 a month – range from $500 – $1300 a month.
This is usually real “sticker shock” for statesiders. The fees typically include windstorm insurance and in many places, other services like monthly pest control, cable, internet. - If you rent and have pets, your choices are going to be VERY VERY limited. There will be a pet deposit, and there won’t be exceptions to the rules.
- If you come here without a job, be prepared to accept part-time work. There aren’t many full-time positions, and it’s tough to find a job that provides benefits. Finding work here in the summer months is especially challenging.
St Croix is a WONDERFUL place to live – but it’s not an inexpensive place to live. Please do your homework, research everything you can get your hands on, and COME HERE for a visit before you make the decision to move – ESPECIALLY if you have limited resources.
