Buying a place in Cayman isn’t like buying a semi in the suburbs back home. There’s salt in the air, hurricanes on the calendar, and strata meetings that can feel like UN negotiations.
Here are 7 classic rookie mistakes — and how to sidestep them.
1) Shopping by “vibe” instead of numbers
Falling in love with the view is great. Overpaying CI$150K because the balcony “feels right” is not.
Always run the math:
- Mortgage payment
- Strata fees
- Insurance
- Stamp duty
- A realistic maintenance buffer
2) Ignoring strata health
You’re not just buying the unit; you’re buying into the committee group chat.
Read the fundamentals:
- Recent AGM minutes
- Reserve fund balance
- Upcoming projects (paint, roofs, seawalls)
Low strata fees today can mean massive special assessments later.
3) Underestimating insurance and hurricane risk
That oceanfront unit looks incredible… until your insurance quote arrives.
Ask for specifics:
- Real annual premium examples
- Hurricane deductibles
- Flood/windstorm coverage details
“Looks safe” is not an insurance strategy.
4) Forgetting about parking and storage
In Cayman, a proper parking spot and somewhere to stash paddleboards, dive gear, and Christmas junk is gold.
No storage means your living room becomes the shed.
5) Not checking noise at “real life” hours
View the property at times that reflect reality:
- Early morning (school/commuter traffic)
- Evening (kids, dogs, neighbour’s karaoke habit)
A quiet 2 p.m. showing tells you nothing about 7 a.m. garbage trucks.
6) Assuming you can always “Airbnb it”
Short-term rental rules vary by complex, zoning, and licensing.
Never assume you can just throw it on Airbnb later — get it in writing.
7) Rushing the lawyer
Your Cayman attorney is not a formality. A good one will:
- Flag weird title issues
- Explain covenants and easements
- Decode all the “everyone usually signs this” documents
Slow down here. It’s cheaper than fixing mistakes later.
Wrap-up
Cayman real estate can be a great move — just don’t treat a seven-figure decision like a quick grocery run to Foster’s.
Buying Cayman Property as an Expat
