Let's buy an island!
Who doesn't dream of owning an island?
Whatever your tastes, buying an island takes financial savvy and commitment, says Chris Krolow, CEO of Private Islands Inc. and executive producer and host of HGTV's "Island Hunters."
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When getting a mortgage for that island, banks and insurance companies sometimes "have issues," he says. Because many islands are small, one-of-a-kind properties, you may not have comparable properties to guide you, he adds.
But that private island of your dreams may also be less expensive than you imagine, Krolow says. "I think a lot of people think a private island is beyond their means. But $500,000 is entry level with a dwelling."
Dreaming of your own isle in the sun? Here are eight islands for sale.