Barbados is a small island in the Caribbean with well-developed infrastructure and a stable political and economic system. It has some of the most beautiful beaches in the world, not to mention the epic diving, shopping, delicious local cuisine, and all the fun and flavor of island life.
But there's one more important, and brand-new, reason to love Barbados. You can now get a 12-month visa to work there remotely.
"Even as the pandemic continues to rage, the government of Barbados, a country in the eastern Caribbean, is sending a very different message: Come here, not just for a holiday, but for up to a year. Bring your laptop," said the Washington Post."
Prime Minister Mia Amor Mottley introduced the 12-month Barbados Welcome Stamp "to allow visitors the option to work remotely from Barbados for a year at a time," according to Barbados Government Information Service. The program is designed to attract remote workers earning more than $50,000 a year in an effort to boost the country's tourist-dependent economy.
The program has, unsurprisingly, sparked global interest. A tropical island is, after all, SLIGHTLY more inviting than your hastily-thrown-together home office, even to those who know little about Barbados.
Though the coronavirus has disrupted many aspects of our work lives, it may end up accelerating some trends--like working remotely. Gallup polling of Americans conducted this spring found that 62 percent said they had worked remotely at some point by April, an increase from 31 percent in mid-March.
That big spike might seem temporary, but according to that same poll, in 2015, 3.9 million U.S. workers were working remotely. Today that number is at 4.7 million, or 3.4% of the population. Remote work is trending up, and as more workers get accustomed to the flexibility, it may end up being a trend that sticks around.
Whether you want to buy or sell a home locally or globally, I can help you finding or selling your home so you can create the life you love! ☎️ 706.530.1114
Mortgage rates are near all-time lows right now, but that doesn’t mean they’ll stay that way forever.
That’s where a rate lock can come in. Rate locks guarantee you a certain mortgage rate for an extended period, protecting you from the possibility of rising interest rates while you complete the homebuying process.
Are you shopping for a home? Here’s what you need to know about mortgage rate locks:
Q: What is a rate lock?
A: A rate lock guarantees your initially quoted mortgage rate for an extended period of time. Your rate can’t rise at any point during your lock period (even if market rates rise), giving you plenty of time to close the loan.
Q: How long does it last?
A: The length of a rate lock depends, though it’s usually 30, 60 or 90 days. In some cases, you may be able to pay for a longer lock period if you need more time.
Q: Why would you want to lock your rate?
A: Rate locks are smart if interest rates are very low or fluctuating. They’re also a good move if you have a unique situation — like being self-employed — and it could take a bit longer to close your loan.
Q: Are there any risks?
A: In the event market rates drop, there’s a chance your locked-in rate could be higher than what newer applicants are being quoted. You can pay for a “float down” option when you lock, which essentially means you’d get the lower market rate if they do fall.
Do you have more questions about rates or the home buying process? Are you ready to sort out your home financing? Get in touch so we can discuss your options. I can help!
Iveth Caruso, your REALTOR in the North Atlanta Area
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