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How Much It Costs To Buy An Island

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How Much It Costs To Buy An Island

How Much It Costs To Buy An Island

Leonardo DiCaprio, Richard Branson and Shakira all have one thing in common.

They each own a private island.

But according to CNN Travel, you don't necessarily need to have a huge bank account, like them, to buy an island.

Perhaps just a sizable one.

According to CNN, you can bag Michigan's Loud Island, set in an inland lake just a few miles from Lake Huron for $3.2 million.

You'll own the island and a historic wooden lodge with seven bedrooms. But the real investment isn't buying the actual island itself.

It is all of the maintenance and transport, to and from the island that will cost you.

Stacy Fischer Rosenthal, president of Fischer Travel Enterprises explains, "Power, water and accommodations (guest and staff) are the big expenses.

Hiring the staff can be a challenge, and keeping them can be an even bigger challenge." Some hotels offer access to villas on a cay, which some say is a great middle ground, without the investment.

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