Buying a guesthouse in Buccoo

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DesireeF
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Buying a guesthouse in Buccoo

Post by DesireeF » Wed Jul 02, 2014 4:36 pm

Hello there

we just came back from our vacation in Tobago. To come to the point fast, someone asked us if we would be interested to buy they guesthouse. My husband is from Trinidad but we are living in the US. I would like to hear if someone has any input on how the area really is, in 10 days you can only get so much inside. The one thing we saw/heard was the sunday school nights.And those are loud! Would someone here recommend this as an investment right know or are there better areas to look at?

Thanks in advance

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Steve Wooler
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Re: Buying a guesthouse in Buccoo

Post by Steve Wooler » Wed Jul 02, 2014 5:05 pm

Hello Desiree

Welcome aboard! :D

If your husband is from Trinidad, then there are no legal complication. However, you say that you are living in the US. So, are you thinking of moving down to Tobago to run the guest house, or are you thinking of running it with a local manager. The answer to the question is entirely dependent upon your answer. If you are thinking of running it yourself, then it might be something worth considering. However, if you are thinking of handling remotely through a manager, then frankly I would say put your money into lottery tickets - they have a higher chance of turning you a profit.
Steve Wooler
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DesireeF
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Re: Buying a guesthouse in Buccoo

Post by DesireeF » Wed Jul 02, 2014 5:14 pm

Hello Steve

thank you for your reply. Actually we are thinking about sending my husbands parents there to live and run it since they are
ready to retire as well and want to move back home. They are living right know also in the US. We cant move yet we have small children and i want to finish school here. Before we are thinking to move its going to be another 15 years and then only 6 months of the year.

Hugh S
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Re: Buying a guesthouse in Buccoo

Post by Hugh S » Wed Jul 02, 2014 5:48 pm

Reminds me of a story from a few years ago . . . someone either bought or built a house within earshot of Sunday School and after realizing that the noise was a problem, decided to try to shut down Sunday School. All I know for sure is that Sunday School continues. The noise (including from Easter Goat Racing and many other events held at the new stadium) is a real issue.

Good luck, Hugh
Last edited by Hugh S on Wed Jul 02, 2014 6:08 pm, edited 1 time in total.

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Steve Wooler
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Re: Buying a guesthouse in Buccoo

Post by Steve Wooler » Wed Jul 02, 2014 5:52 pm

Hi Desiree

Okay, that has possibilities then. The bottom line is that tourism is a fragile beast and running a guesthouse or any other form of tourism-related hospitality business is dependent on a host of factors, of which public confidence is the most important. One serious security incident and tourism could be wiped out for a decade or more. It is not something to enter into lightly - and certainly not something to be decided upon with a few simple questions. You will find this site a good basis to assess the sort of things that overseas visitors are asking and expecting. The local Trini market is a very different beast and not something ideally covered on this site. It is a VERY different market and, in many ways, a much more demanding market for lower return. I can only wish you good luck with your research and can only advise you to proceed with great caution.
Steve Wooler
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