When many people think about owning a private island, having a slice of tropical paradise is the image that springs to mind. However, there are several climate options available for those who are looking for something other than a place to catch a tan. The aforementioned tropical islands are generally those located in between the tropic of Capricorn and the tropic of Cancer. If those aren’t to your liking, you might be a fan of Mediterranean islands. These generally have warm temperatures but less rainfall. Aside from the Mediterranean itself, islands of this variety can be found in the Bahamas, Bermuda, the Canary Islands, and so on. Temperate islands are a good choice for those who prefer cooler temperature and might be more interested in an island that’s closer to home. You can find these islands in the northern United States, Canada, and northern Europe. Be sure to learn more about each climate type to decide what’s best for you.

Purchasing your own private island might mean owning a piece of paradise, but it also brings with it a whole set of new responsibilities that must be kept in mind. Aspects of home ownership that many of us take for granted on land can pose serious problems on an island.

One thing to keep in mind is that if you plan to develop your island, you will need to ensure that there is a suitable supply of fresh water. If you plan to reside on your island part-time, you’ll need about 30,000 to 100,000 gallons annually. For full-time living, you will need the equivalent of 40 inches of annual rainfall. The smaller and/or rockier the island is, the less likely it is to have a steady supply of water. Luckily, there are options. If the ground water table is high enough, you may be able to dig a well. If you are close enough to the mainland or another island with a water source, you may be able to access it via PVC piping. Desalination plants can also be purchased for as little as $20,000.

If you’ve decided that you want to purchase your own private island, either as an investment or your personal vacation paradise, you have a lot of decision-making ahead of you. In many ways, purchasing an island is very much like buying a home, but there are plenty of additional factors that need to be taken into consideration before you decide on a purchase.

As with all property, the first step is to figure out what your budget is. It is better to spend as much as you’re able to rather than settling on an island of poorer quality just because it’s more affordable. You will end up with both a better investment and a more attractive purchase.

Location is also important–one of the most important factors in choosing to buy, really. Take the surroundings into account, not just the island itself. The local infrastructure is essential. Make sure that you will have access to an airport and a town or village where you will be able to purchase needed supplies.

Screenwriter/actor Tyler Perry of Medea fame has told People magazine that he plans to purchase a private island in the Bahamas when he turns 40 this September. With his latest film, Madea Goes to Jail, grossing more than $85 million as of late March 2009, Perry, who has full ownership of his projects, can very well afford his own tropical retreat.

Reportedly, the decision to purchase an island was sparked by a recent week-long vacation in the Bahamas, where Perry enjoyed the isolation. “I’m a loner by nature, so when I’m out there on these islands, I just feel like the only person in the world,” Perry said, adding, lest fans fear that he will be lured from future films, “Renting an island is the best place for me to work uninterrupted.”

Perry hasn’t christened the island yet, but he assures, “It won’t be Tyler Perry’s Island! I’m so sick of seeing Tyler Perry all over everywhere!” He’s confident that once he arrives, it will “speak” to him. “I’ll know what to call it once I’m there,” he says.

Many of us dream of owning our own private island that we can disappear to when we want to take some time to destress, enjoy the simple life, or get back to nature. Unfortunately, the majority of people don’t have the budget to live that dream.  However, if you’re fascinated by the world of luxury island real estate, you might be interested in purchasing Private Islands Magazine, published by the founders of privateislandsonline.com.  This glossy print publication is the only one in the world dedicated to private island buyers and comes with a handy and informative buying guide.  At less than $20 (prior to S&H), it is certainly a more affordable buy than your own bit of coastline.