Aruba Beach
Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 27
Like Tree20Likes

Thread: The Positives about "home ownership on Aruba"

  1. #11
    Senior Member SkiChris's Avatar
    Join Date
    Sep 2009
    Posts
    132
    We first started with a Marriott timeshare (which we LOVE) but we found visiting the island only once a year was not enough so then we explored buying 1-2 more weeks of timeshare and compared that to the cost of home ownership. For us, home ownership made more sense and we purchased our home in Aruba in 2012. It has been an absolutely wonderful experience to find and purchase a home in Aruba and we now feel like Aruba is "our home" too. We have learned so much in our first few years of home ownership, we love Aruba even more, and we would absolutely 100% do this all over again if we had the option to go back in time. Owning a house in Aruba is like realizing a dream. But in order to have a successful dream, you need to prepare, budget, and surround yourself with the right people to guide you through the process. Andrea connected us with a wonderful couple who acted as our mentors and the advice was invaluable. I am happy to see Andrea created this special area on the Forum because it will be a great place for others who are beginning the journey to connect with those of us who are already living the dream.
    Last edited by SkiChris; 04-12-2015 at 10:23 PM. Reason: typo

  2. #12
    Aruba since 1979
    Moderator
    Andrea J.'s Avatar
    Join Date
    May 2007
    Posts
    29,889
    very cool skichris!!

    from everything that i have read and heard, it is all about doing the homework and having the right people to guide you.


  3. #13
    Senior Member schexc's Avatar
    Join Date
    Jun 2011
    Posts
    1,162
    Quote Originally Posted by Andrea J. View Post
    very cool skichris!!

    from everything that i have read and heard, it is all about doing the homework and having the right people to guide you.

    That would be a great thread!
    TRIP 15 OCTOBER 2018


    OUR COUPLE'S RETREAT. THE PEARL CONDO HOTEL AT EAGLE BEACH. CONDO ACCOMMODATES TWO ADULTS. YOU MUST REQUEST UNIT #8. https://photos.app.goo.gl/lRquP1F4VtxyZhR42 RENTING DIRECTLY THROUGH http://www.thepearlaruba.com/.

  4. #14
    Senior Member lizzardo's Avatar
    Join Date
    Sep 2008
    Posts
    961
    The one thing about ownership - is you can stay 6 month w/o being a resident and paying income tax. After that time you have to file to be a resident and have to pay income tax and AZV tax. So many many people only stay 6 months. It is hard to manage your house from afar and to get a good property manager to check your house. I know some people on this board who had their houses empty and had their airconditioning units stolen and there are breakins. If you have a break in the only way you can 'catch' the person is if you have a camera security system and have them filmed stealing your stuff. Other wise you are out of luck. Plus I know someone who had a nice neighbor. They called the police when they were going when they saw 2 guys taking a sofa out of their house - that was around 11am - the police showed up at 4pm. Not to say this as a negative because those 6 months are wonderful!

  5. #15
    Junior Member
    Join Date
    Dec 2015
    Posts
    11
    If anyone has any advise out there for my wife and I please send me a message - volcanodavid@roadrunner.com I am going to the island to close in January. Although we are very excited because eventually we do plan on moving to Aruba, the process has been more than chaotic and slow. Seems like many don't want to business as it should be done (I know, it's the island life). Still, it's a major purchase being done through major players. I just got the bill for the notary and I am confused about this moveable item tax. Any input will be greatly appreciated and accepted.

  6. #16
    Senior Member act1966's Avatar
    Join Date
    Aug 2012
    Location
    In the pool.
    Posts
    2,483
    Quote Originally Posted by volcano View Post
    I just got the bill for the notary and I am confused about this moveable item tax. Any input will be greatly appreciated and accepted.
    Did you buy the house turnkey (i.e. furnished, all existing furniture, light fixtures, appliances etc.) as part of the sale? I looked at our old notary invoice and believe the contents are broken out as the "movable" line item - you essentially have an estimate value on the contents being sold with the house.

    So, if you bought the house for $200,000 and the contents included in that sale price are $15,000, the notary would price for the physical building "the immovable" line item would be $185,000 and the contents/"movable" item would be $15,000.
    Last edited by act1966; 12-21-2015 at 11:53 AM.

  7. #17
    Senior Member SkiChris's Avatar
    Join Date
    Sep 2009
    Posts
    132
    I agree - "moveable items" are a great thing. This is essentially a value for items included in the sale price of your home which could be physically removed from the property (not a permanent part of the structure). Since they are moveable, you do not need to pay transfer tax on that value. The Transfer tax is a big expense...so every little bit helps. I will send you a PM with my contact information. You are welcome to send me questions on any part of the home ownership process. My husband and I just celebrated the 3yr anniversary of our closing date in Aruba so I still remember all the steps involved in getting started but also have some experience and best practices I can share also. I am happy to assist as my husband and I had a wonderful couple mentor us who we met through the forum (and they are now wonderful friends).

  8. #18
    Senior Member
    Join Date
    Jan 2008
    Location
    Zeerovers, San Nicolaas, Malmok, Arashi
    Posts
    1,084
    Quote Originally Posted by volcano View Post
    If anyone has any advise out there for my wife and I please send me a message - volcanodavid@roadrunner.com I am going to the island to close in January. Although we are very excited because eventually we do plan on moving to Aruba, the process has been more than chaotic and slow. Seems like many don't want to business as it should be done (I know, it's the island life). Still, it's a major purchase being done through major players. I just got the bill for the notary and I am confused about this moveable item tax. Any input will be greatly appreciated and accepted.
    the purchase process in Aruba is slow. Generally it is a 2-3 month timeframe from acceptance of the offer by the seller. The real estate agent will then provide paperwork to the Notary. The Notary then submits docs to the tax department to ensure all outstanding taxes are paid. In addition the deal is then reviewed to determine if the selling price is fair. ( There were issues some years back with sale values being declared at a lower value to reduce the transfer tax and the buyer doing a side deal to make up the difference ). When all this is done the Notary will advise the real estate agents and a closing will be scheduled.

    Yes it it is different to North America. Be careful with the initial deposit We had a situation arise and had the deal not closed we would have needed to go to court to get it back. They estimated up to 3 years to get the funds back.

    Island time I me coupled with incompetence


    A

  9. #19
    Junior Member
    Join Date
    Sep 2008
    Posts
    7
    I am a Marriott Aruba surf club timeshare owner (3 weeks). I am also looking to purchase in Aruba either a condo or a home. I was looking at the following, Azure, Gold Coast and the option of buying a lot in an upscale neighbourhood and building a home within 2 years.

    Azure will be very nice when the first building is up in 2 years, the views will be incredible but a 2 bedroom is only 1020 sqft. Gold Coast is nice but you have about $500/monthly in HOA fees and the 2nd year who knows?

    Building a home in Rooi Santo area will have slight view of the ocean and could build the house the way I like and with a pool.
    Please give me some feedback

  10. #20
    Senior Member SkiChris's Avatar
    Join Date
    Sep 2009
    Posts
    132
    Hello Surf Club Owner,
    We own 2 timeshare weeks and while we love them (and still have them), one of our goals in buying a house in Aruba was to get away from the annual maintenance fees which are increasing each year. So that is a key thing to keep in mind as you look at buying a house vs a condo. My recommendation will be to buy a house. You mentioned interest in building a home. We thought about this also, however, it is a challenge to have a home built in another country when you have very little access to monitor the progress. When we evaluated the pro/cons, we found it more advantageous to purchase a new home that was already constructed. There are several options for this in Aruba and any realtor can provide assistance. Feel free to send me a PM if you'd like more information.

Page 2 of 3 FirstFirst 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Search Engine Optimization by vBSEO