How To Buy An Island

Tired of the hustle and bustle of living on a land mass with others? Maybe it's time you thought about buying your own private island.

Step One: Secure some serious funds. The most expensive island on the market runs for about $75 million. For those looking for discount fare, you'll still need at least $200,000. Keep in mind, that most of these secluded getaways come with nothing. No supermarket, no roads, no house. Too pricey? Too much work? You can also rent an island to the tune of about $35,000 a day -- including housing, staff, and access to diversions, like volleyball, fishing, etc.

Step Two: Find the right spot. This can be tricky. Inhabitable islands don't become available very often. Plus, many of the good spots in the Caribbean or South Pacific are protected nature reserves, or have already been sold off to resort developers. There's also dealing with the nation that owns the island you're after. Just because you bought it, doesn't make you king. Some countries, like the Philippines or Fiji, have very restrictive laws when it comes to island ownership, and other, less-stable nations, like Sri Lanka or Indonesia may offer you a discount -- but that carries some additional risk. Lastly, check out weather patterns -- you'd hate to spend $50 million on a place that's constantly hit by tidal waves and hurricanes, or is likely to erode away before you see any return on that sizable investment.

That in mind, I imagine that it's similar to buying a house, in that, once you've found the island of your dreams, it'll "feel right." So, you know, trust your gut on this one.

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