Buying in Cayman isn’t just “20% down and done.” The bank might approve your mortgage while your savings account quietly screams.
Here’s what you actually need in the bank before you go house-shopping.
The obvious one: down payment
Most buyers are looking at 10–20% down:
- CI$400,000 condo → CI$40,000–80,000 down
- CI$800,000 home → CI$80,000–160,000 down
That’s your starter ticket. But it’s just Level 1 of the video game.
Stamp duty: the silent heavyweight
For most purchases, you’re looking at around 7.5% stamp duty on the price.
On a CI$800,000 place, that’s CI$60,000 — just in duty.
Higher-end properties can hit the 10% band, which stings even more. This is why buyers say: “I thought I was fine… until I added stamp duty.”
You can ballpark it quickly with the Stamp Duty Calculator.
Legal, bank, and other “little” fees
They’re not little:
- Legal fees — your attorney doesn’t work for hugs
- Bank fees — application, commitment, valuation
- Registration and misc. costs — all the paper-shuffling
As a rough rule, many buyers assume 1–2% of the purchase price on top of stamp duty. Not precise, but it keeps you from daydreaming in fantasyland.
Moving in: strata, insurance, and real-life costs
Once you own it, the meter starts:
- Strata fees (for condos/townhouses)
- Property insurance (non-negotiable in Cayman)
- Maintenance — AC, appliances, hurricane prep, and “why is this leaking?” moments
Your mortgage payment is not the whole story. Add CI$500–1,500+/month depending on the property and lifestyle.
So what should you actually do?
Before you fall in love with a listing:
- Use the Mortgage Calculator to see your real monthly.
- Use the Stamp Duty Calculator to see your real upfront hit.
Then ask one simple question: “If this all happened tomorrow, do I have the cash and the stomach for it?”
If yes, you’re not just “looking at property” anymore — you’re shopping for a home in Cayman like a grown-
Calculate Cayman stamp duty here