PDA

View Full Version : Hoping to buy in Aruba



robin
11-11-2016, 08:13 PM
My husband and I are planning on buying either a home or condo in Aruba because we want to spend winter there. We've been there probably 6 or 7 or 8 times and every time we go, it feels like home. We are going next month to start looking and he has made some appointments with realtors. I am looking for some advice. We are not sure if we want a house or a condo (we need 2-3 bedrooms and 2 bath). We need good internet because he needs to work while we are there. I want to be somewhere I can meet people and make new friends. We are probably younger(we're just hitting our mid 50s). than most "snowbirds". My husband keeps going back and forth of what is important to him-view, near the beach, and cost.

What I am looking for is what the realtors won't tell me. We've driven around the island many times and have an idea of where we don't want to be. But what areas would be best for us? Where should we avoid? What questions may I not know to ask?

Thanks,
Robin

lucky
11-11-2016, 08:41 PM
welcome to the forum.you may want to look into the gold coast townhouses,close to lighthouse and beaches in nice neighborhood,good luck

Ulyana
11-11-2016, 09:54 PM
Hi Robin,

We were in the same situation about a year and a half ago. After quite a few visits and spending lots of time driving and walking all over the island, we bought a house in the neighbourhood of Opal, Noord. I had a very simple and common criteria: 3 bedroom, 2 bath, curb appeal, walking distance to the beach.

My advise: try to rent a place similar to one that you would like to call home and see if it suits your needs. Please note that the relaxed island life style has pros and cons. For example, it took us over two weeks and a few phone calls to get the Internet up and running (it takes a less than a day here in Toronto), and we were just told that apparently in order to have a gas tank refilled, you need to go to the Arugas location, pay upfront, and hope that they will show up within a week.

If you are looking for an all-inclusive type of service, than a condo or a townhouse might be a better choice. They usually come with pools, security, landscape services and - maintenance fees. We have a house without a pool (the ocean is within 10 min walk), I planted a few palm trees myself and am extremely happy with the place and the price we paid.

Let me know if there is anything else I can help you with. Oh, I should have mentioned that the real estate person we worked with was really good and I would gladly recommend him (no commissions haha).

Cheers,

Ulyana

schexc
11-11-2016, 10:39 PM
What do you plan on doing with the property while you're not there, rent it or leave vacant?

Andrea J.
11-11-2016, 11:58 PM
welcome to the aruba.com community forum

i recommend being a snowbird and renting as the others have stated.
Ulyana gives good advice!

brady bear
11-12-2016, 10:22 AM
Welcome to the forum. Keep us updated on your purchase.
Let us know if you are going to rent out to some really nice people

aquaman
11-12-2016, 01:33 PM
My husband and I are planning on buying either a home or condo in Aruba because we want to spend winter there. We've been there probably 6 or 7 or 8 times and every time we go, it feels like home. We are going next month to start looking and he has made some appointments with realtors. I am looking for some advice. We are not sure if we want a house or a condo (we need 2-3 bedrooms and 2 bath). We need good internet because he needs to work while we are there. I want to be somewhere I can meet people and make new friends. We are probably younger(we're just hitting our mid 50s). than most "snowbirds". My husband keeps going back and forth of what is important to him-view, near the beach, and cost.

What I am looking for is what the realtors won't tell me. We've driven around the island many times and have an idea of where we don't want to be. But what areas would be best for us? Where should we avoid? What questions may I not know to ask?

Thanks,
Robin


It it really depends on why you want to move here. You indicate weather. There are so many things to consider that are not apparent. I think most are familiar with the issues of banking, dealing with Givt Dpts etc and some of the frustrations they present but there are many other things to consider. Not sure where you live, but you probably have friends, family or authorities you can turn to for help in an emergency. I have had to use the police and other authorities here. Don't expect them to be the same or even sympathetic. At times I have detected what is almost a resentment. They see you come to Aruba with money, buy a nice house and maybe have items they do not have or maybe cannot afford. Not all are like that but just don't e pe t the same service levels.

Be be prepared for cultural and language differences. What might seem cute and charming might become annoying after a few months.

Where red would you buy? Which area? Be well aware of zoning issues. It is possible to buy a nice home and then have someone open a car wrecking yard next door depending on zoning, and there will be nothing you can do about it.

after 14 years here I speak candidly. Not all is bad. You just need to be the type of person who can adapt and learn to accept that island living has its pluses and minuses. For instance somethings are not always available on the island. An example of this is Superfood last December ran out of dog food. Had to wait for a delayed ship. It's those little and unpredictable things.

Living here is different to a vacation or living anywhere else. It can be both fun and frustrating at the same time.

My my advice is to stay several months. Talk to others on the forum. Learn as much as you can, then decide. Mistakes involving a move can be very costly

Andrea J.
11-12-2016, 10:10 PM
great advice!

robin
11-14-2016, 04:08 PM
It all depends on how much we spend.

robin
11-14-2016, 04:09 PM
Thank you so much. Which realtor did you use?

robin
11-14-2016, 04:15 PM
If we are staying for 2 or 3 months, is it better to rent or own a car? If owning a car is best, is it difficult to get work done on it? Is registration similar to here? How do we insure it? Anything is helpful.

Thanks so much.

Jacki
11-14-2016, 04:49 PM
I'm loving these responses. So much great information from our forum members! Welcome to the Aruba.com Community Forum, Robin! I can't wait to hear more about your journey!

aquaman
11-14-2016, 05:03 PM
If we are staying for 2 or 3 months, is it better to rent or own a car? If owning a car is best, is it difficult to get work done on it? Is registration similar to here? How do we insure it? Anything is helpful.

Thanks so much.

to assist you I need to ask you....where is "here" as it relates to registering a car...Are you in US. Canada. U.K.? Car rental for 2--3 months can be around $550-600/ month. To buy, get plates and insurance is an interesting process. If you buy and sell within 3 months you will probably spend about the same as renting

you first buy the car and then go get insurance and then go pay tax and register

schexc
11-14-2016, 05:09 PM
We have been compiling the same facts and numbers that you are for the last five years. For the amount of money that we would spend on a property we figured that we'd break out even in expenditures in 10-12 years. Of course if renting only, we'd have no equity, just a pile of receipts, which from my business sense drives me crazy. If we owned we'd probably go to the island for three months in the winter and a month and a half in the fall. We would buy a car, as renting in high season isn't very cost effective, unless you do so infrequently. Right now our biggest regret is that we didn't buy 3-4 years ago, as time passes by quickly. We would have been smart to make the move in our 50's, rather than now in our sixties. We wish you well.

Aruba4ever
11-14-2016, 07:05 PM
Great info here. I am watching this closely. It is my dream to retire 6 months a year in Aruba. I wish I had the money lying around to buy now but that is not really feasible at this point so we will continue to rent whenever we visit.

aquaman
11-14-2016, 07:23 PM
Great info here. I am watching this closely. It is my dream to retire 6 months a year in Aruba. I wish I had the money lying around to buy now but that is not really feasible at this point so we will continue to rent whenever we visit.

I suggest you rent a villa that is a bit back from the beaches to get a feel for living here

Andrea J.
11-14-2016, 07:25 PM
in 1999 we had the opportunity to buy a small house with a nice pool.
we decided against it. at that point we were 9 years from retirement and our son was in middle school, my parents were both alive, but both in poor health.
there were too many things not in our favor.

the house was $99K.
it was a 2 bedroom 2 bath, 1600 sq ft conucu style with a tile roof, 18 x 40 inground pool, and a 2 car garage on property land.
it was in the neighborhood on the way to the natural bridge...up hills and curvy road...beautiful view.
this house today is worth at least $300K. we have driven by it and it is kept up nicely and is quite pretty.

hindsight is tough.
i wish we had bought.
"If" we had bought it, we would spend from Nov to April in aruba and would have bought a condo in new england for spring-fall.

robin
11-14-2016, 10:57 PM
Thanks.

We live in New Jersey. In NJ, we pay to keep the car registered yearly. When you purchase a car new/or used car, everything is handled at the dealership-they get the registration and tags from the Division of Motor Vehicles(DMV). Sales tax is paid when you buy a car from the dealer. If you buy it through a private sale, you do the work at the DMV and pay the tax there.

Aruba4ever
11-14-2016, 11:49 PM
Thanks- We certainly will prior to doing anything. We could decide to rotate spots each year and just rent- time will tell. We have another 11-12 years or so to go is my best guess.


I suggest you rent a villa that is a bit back from the beaches to get a feel for living here

Brittney
11-18-2016, 08:37 AM
My husband and I are planning on buying either a home or condo in Aruba because we want to spend winter there. We've been there probably 6 or 7 or 8 times and every time we go, it feels like home. We are going next month to start looking and he has made some appointments with realtors. I am looking for some advice. We are not sure if we want a house or a condo (we need 2-3 bedrooms and 2 bath). We need good internet because he needs to work while we are there. I want to be somewhere I can meet people and make new friends. We are probably younger(we're just hitting our mid 50s). than most "snowbirds". My husband keeps going back and forth of what is important to him-view, near the beach, and cost.

What I am looking for is what the realtors won't tell me. We've driven around the island many times and have an idea of where we don't want to be. But what areas would be best for us? Where should we avoid? What questions may I not know to ask?

Thanks,
Robin


Hi Robin My name is Brittney please feel free to contact me I will be happy to answer all of your questions and have some condo's or homes that may be to your liking

act1966
11-18-2016, 08:56 AM
We had a laundry list of things we must have versus things we could live without versus things we couldn't stand.

First, we rented villas in different areas - we knew immediately we didn't want a condo so that narrowed things down quickly

Re condo versus house: Aruba is different from where we're from as you pay a premium for condo living here because a lot of them are on the beach... houses are cheaper when you look at the price per square foot.

We wanted to live away from the tourist areas and wanted our own pool so that threw condos out immediately. We did consider a sort-of compromise at Tierra Del Sol but didn't really see anything that suited us so we ended up buying inland. And we haven't regretted it.

If you do opt for a house, be aware that some chunk of your time here and away will either be spent repairing things (the salt air is brutal on homes) or coordinating repairs. Constantly.

We knew what we wanted in a vacation home both of us having spent a lot of time in Florida growing up. For us, it was all about the weather and we'd just roll with whatever challenges came our way. It was important for us to start laying down roots as soon as possible.

We knew the minute we landed on our first trip in 2008 that Aruba was the right place for us. We came from minus 25C to 33C in five hours (it was rainy and cold in Florida that day).

But, if you're not "sure", I agree with the above posts: rent a few places in your target areas before you pull the trigger. And get a good real estate agent who understands the ins and outs of purchasing in Aruba and the notary process.

Good luck! Keep us posted!

vallond
11-24-2016, 02:28 PM
You're also going to need to become familiar with and used to "Island Time." This is where things work at a much slower pace than in North America, Europe etc. Someone posted earlier on that it took them three weeks before they got their internet connection arranged and up and running. You will experience other things like long lines in the bank especially at the end of the month, the day when all the pensioners go in to do their banking, and of course Credit Card day; when everyone rushes into the bank to pay their credit card bill(s) on the final due date. On those occasions best to take along a book(or two) crossword puzzle or suduku to pass the time. You make arrangements with someone to undertake an installation or repair job at your place on a Tuesday at 10:00 am, they will most likely show up wither hours later or the following day. Just know that Island Time on Aruba is not as bad when compared to the other islands( I live on one of them and island time is a fact of life here). Hope that your search is going well.

Mohair
02-24-2017, 11:45 PM
Hi robin,

We just closed on a two bedroom condo in Aruba. We searched for a year and rented a similar unit in the complex before we made an offer. I can second the advice that vallond gave. You have to be prepared to operate on island time. Our offer was accepted on October 20, and it took four months for the paperwork to be completed. It was, however, very much worth the wait. If you are still looking, let me know. I would be glad to help out.

robin
02-25-2017, 08:39 AM
Thank-you. We made an offer on condo and signed the paperwork on our anniversary (just worked out that way) on Dec. 16. We are waiting to hear when closing will be-we expect late April or early May. We are really excited.

Aruba-Mark
02-26-2017, 12:26 AM
Robin... what condo development did you end up purchasing in?

Jacki
02-27-2017, 09:07 AM
Good luck Robin!

robin
03-09-2017, 09:50 AM
We are buying a two bedroom unit in the Palm Building at Oceania. We make settlement the last week of March. We never thought we could buy there, but we got a very good deal from someone very eager to sell.

Andrea J.
03-09-2017, 09:54 AM
congrats!!!
We are buying a two bedroom unit in the Palm Building at Oceania. We make settlement the last week of March. We never thought we could buy there, but we got a very good deal from someone very eager to sell.

Jacki
03-09-2017, 10:31 AM
Awesome Robin! Congrats!

schexc
03-14-2017, 04:44 AM
Very nice. It's a great location. Congrats!


We are buying a two bedroom unit in the Palm Building at Oceania. We make settlement the last week of March. We never thought we could buy there, but we got a very good deal from someone very eager to sell.

robin
03-27-2017, 03:12 PM
We arrived yesterday with probably 200 lbs of luggage. We make settlement on Tuesday and we are so excited. We spoke to Nick at the Ford dealer about purchasing a car when we come back in early January. We will get an Ecosport which in a low end crossover/SUV that is not available in the US yet but is here. I'm really short and I like to sit higher than a car. We're looking for some other things too. Can't wait to own a little piece of this beautiful island

Andrea J.
03-27-2017, 03:14 PM
wonderful!!!


We arrived yesterday with probably 200 lbs of luggage. We make settlement on Tuesday and we are so excited. We spoke to Nick at the Ford dealer about purchasing a car when we come back in early January. We will get an Ecosport which in a low end crossover/SUV that is not available in the US yet but is here. I'm really short and I like to sit higher than a car. We're looking for some other things too. Can't wait to own a little piece of this beautiful island

robin
03-28-2017, 05:22 PM
5903We made settlement this morning! So excited to be able to wake up to this tomorrow morning! The picture does not do the view justice. It is much better in person.

Aruba4ever
03-28-2017, 06:18 PM
I think the view is amazing. I was looking at your new "home" when I was there in Feb and the property looks amazing! I love how you cant get in unless you belong.



5903We made settlement this morning! So excited to be able to wake up to this tomorrow morning! The picture does not do the view justice. It is much better in person.

robin
03-30-2017, 01:43 PM
Thank you!

Arubasurfclub
11-27-2018, 08:28 PM
Who did you use as a notary?

robin
11-27-2018, 08:46 PM
Johnson

gaby
11-28-2018, 05:11 AM
Congrats, you are so lucky

FBS199
11-28-2018, 08:30 AM
Best of luck with your new Home !!!

crimms
11-28-2018, 09:39 AM
Wow you did it! Many of us here dream of making the big move to Aruba. Keep us posted on how it goes. The good and the bad. We are very interested.You can take us all on the Aruba purchase journey.
Sean and Susan

FrankMTL
11-30-2018, 04:21 PM
Hi All!

1st time poster... long time reader.

Looking for advice/tips regarding the purchase of a condo.
Any suggestions on a notary. My realtor suggested Johnson and I've seen him mentioned here.

Did anyone finance in Aruba? Any suggestions on a bank? Plan to put 60 down + closing fees and finance the rest

Any help/tips appreciated!

Frank

Andrea J.
11-30-2018, 08:59 PM
hi frank and welcome to the aruba.com community forum!

good luck in your purchasing experience.....maybe robin, or schexe or geta62 can give some advice.
Hi All!

1st time poster... long time reader.

Looking for advice/tips regarding the purchase of a condo.
Any suggestions on a notary. My realtor suggested Johnson and I've seen him mentioned here.

Did anyone finance in Aruba? Any suggestions on a bank? Plan to put 60 down + closing fees and finance the rest

Any help/tips appreciated!

Frank

robin
11-30-2018, 10:36 PM
Hi Frank,

Welcome!

Our realtor had us use Johnson and everything went well. It surely is not the US. Everything happens on "island time". We signed our contract on Dec. 16 and made settlement the end of March-they were ready at the beginning/middle of March, but we had to make arrangements/work around hubby's work(I'm retired), etc. to get back to Aruba. You don't need a lawyer in Aruba, but you may want to make sure you read everything up front. Get the condo's bylaw-make sure you get any updated sections, etc, before signing anything-you can learn a lot that way, such as, our complex does not allow pets and you are limited to the number of people staying in each unit depending on it's size(our two bedroom unit is permitted to have 6 people).

We self financed our condo-home equity, savings, life insurance loan, etc. I don't even know if you can get a loan in Aruba. Your realtor can help you with that. Don't forget you pay taxes upfront at closing.

Where are you looking to buy?

Let me know if there is anything I can do to help.

Mohair
12-01-2018, 01:04 AM
Hi Frank,

You will certainly enjoy having your own place in Aruba. We took out a mortgage on our home in the US to finance the purchase of our condo. Our offer was accepted in October 2016 but we didn't close until February. I can't help you with Aruba banks or lenders, but I will gladly answer any other questions you may have. You can send me a direct message.

Welcome!

FrankMTL
12-01-2018, 08:34 AM
Thanks for the info Robin!

I'm looking at buying a unit at The Pearl. I'll most likely self-finance as well. Rates in Aruba are 7%!
The realtor mentioned that I have to forward 10%(in escrow) of the agreed sale price. Is this how it normally works?



Hi Frank,

Welcome!

Our realtor had us use Johnson and everything went well. It surely is not the US. Everything happens on "island time". We signed our contract on Dec. 16 and made settlement the end of March-they were ready at the beginning/middle of March, but we had to make arrangements/work around hubby's work(I'm retired), etc. to get back to Aruba. You don't need a lawyer in Aruba, but you may want to make sure you read everything up front. Get the condo's bylaw-make sure you get any updated sections, etc, before signing anything-you can learn a lot that way, such as, our complex does not allow pets and you are limited to the number of people staying in each unit depending on it's size(our two bedroom unit is permitted to have 6 people).

We self financed our condo-home equity, savings, life insurance loan, etc. I don't even know if you can get a loan in Aruba. Your realtor can help you with that. Don't forget you pay taxes upfront at closing.

Where are you looking to buy?

Let me know if there is anything I can do to help.

Andrea J.
12-01-2018, 08:40 AM
I miss our "like" button.

The thing that is so great about this forum is that most everyone is so kind and generous with their knowledge and experiences.

Darn, I miss that LIKE button.
Hi Frank,

You will certainly enjoy having your own place in Aruba. We took out a mortgage on our home in the US to finance the purchase of our condo. Our offer was accepted in October 2016 but we didn't close until February. I can't help you with Aruba banks or lenders, but I will gladly answer any other questions you may have. You can send me a direct message.

Welcome!

FrankMTL
12-01-2018, 08:49 AM
Thanks Andrea!



hi frank and welcome to the aruba.com community forum!

good luck in your purchasing experience.....maybe robin, or schexe or geta62 can give some advice.

schexc
12-01-2018, 09:18 AM
At the time we purchased at The Pearl Century 21 was the exclusive listing agent and the Notary was Tromp. They were very east to work with. We provided our own funds, so I can't answer any questions with regards to financing. We made our purchase offer at the end of December 2016 and didn't close until June of 2017. Out hold up was do to the tax assessment office. Because the property was new, we had to wait until the tax office put an accessed value on each of the individual condos, otherwise we would have closed much earlier.


Hi All!

1st time poster... long time reader.

Looking for advice/tips regarding the purchase of a condo.
Any suggestions on a notary. My realtor suggested Johnson and I've seen him mentioned here.

Did anyone finance in Aruba? Any suggestions on a bank? Plan to put 60 down + closing fees and finance the rest

Any help/tips appreciated!

Frank

Mohair
12-01-2018, 11:24 PM
I think that The Pearl is an excellent choice! If you are looking for a two bedroom, I would recommend that you also check out the Aruba Breeze Condominiums next door. That's where we bought and it has worked out great. Either way you will be our neighbor!

robin
12-01-2018, 11:52 PM
Hi Frank,

The Pearl is an excellent choice. We are very close at Oceania. I asked my hubby how much we had to put down and he didn't remember. I think10% is about right, but I think we actually sent more. Once the notary had all the paperwork done, we had to wire the balance before they would schedule the closing. Make sure you get the settlement sheet and check it before sending the money. Everything is in Dutch in the official paperwork, but they sent us a translation list along with the settlement sheet.

Do you live in the US? I heard that if you are from Canada that the $$ goes into US dollars before being converted to florins.

If there is anything I can do, let me know.
FYI-We will be in Aruba starting Dec. 27-March 28.





Thanks for the info Robin!

I'm looking at buying a unit at The Pearl. I'll most likely self-finance as well. Rates in Aruba are 7%!
The realtor mentioned that I have to forward 10%(in escrow) of the agreed sale price. Is this how it normally works?

FrankMTL
12-02-2018, 09:07 AM
Thanks Mohair. I believe there's one 2 bedroom unit for sale at the moment.


I think that The Pearl is an excellent choice! If you are looking for a two bedroom, I would recommend that you also check out the Aruba Breeze Condominiums next door. That's where we bought and it has worked out great. Either way you will be our neighbor!

FrankMTL
12-02-2018, 09:23 AM
Oceania is beautiful! I was there the at beginning of November right next door to your place (p417). I went to visit a unit that's for sale in the Arashi building. Made an offer (20% less than asking), was refused and that was the max I could go...

Yes you are correct. I would have to transfer from CAD to USD beforehand.


Hi Frank,

The Pearl is an excellent choice. We are very close at Oceania. I asked my hubby how much we had to put down and he didn't remember. I think10% is about right, but I think we actually sent more. Once the notary had all the paperwork done, we had to wire the balance before they would schedule the closing. Make sure you get the settlement sheet and check it before sending the money. Everything is in Dutch in the official paperwork, but they sent us a translation list along with the settlement sheet.

Do you live in the US? I heard that if you are from Canada that the $$ goes into US dollars before being converted to florins.

If there is anything I can do, let me know.
FYI-We will be in Aruba starting Dec. 27-March 28.

robin
12-02-2018, 11:22 AM
The Palm Building is the least expensive of all the buildings in Oceania. When we went down to look it wasn't even on our list because of how expensive they were. One thing led to another and we saw three units in Oceania. One was in Eagle, beautiful 3 bedroom-I loved it, but it was soooo expensive and too big for us at this time. The other two were our unit and one on the first floor. We fell in love with the one we bought. We offered them $100,000 below what they were asking, which was at the top of our budget, and they took it with along with usage for two weeks a year for four years. They are Venezuelan and needed to sell. It had been on the market for 8 or 9 months without an offer. With taxes it still was over our budget, but we were able to manage it, but it'll be a few years before upgrade the furniture.

A couple of things I forgot to mention. You will have to tell where your money is coming from-like a home equity or pension loan or saving, etc.-they just want to make sure it is not criminal activity. You will have to get a 'persons id" after you make settlement because that is what they will link to your tax bill. You also need it if you buy a car.

In part of Canada do you live? My sister-in-law and family are in the Waterloo/Kitchner area now.




Oceania is beautiful! I was there the at beginning of November right next door to your place (p417). I went to visit a unit that's for sale in the Arashi building. Made an offer (20% less than asking), was refused and that was the max I could go...

Yes you are correct. I would have to transfer from CAD to USD beforehand.

FrankMTL
12-02-2018, 01:37 PM
If the offer goes through, the unit will be held in the name of a company here in Montreal, Canada. I have a few properties here in Montreal that I rent out short term and would do the same with this one.

I'm roughly 6 hours away from Waterloo.




The Palm Building is the least expensive of all the buildings in Oceania. When we went down to look it wasn't even on our list because of how expensive they were. One thing led to another and we saw three units in Oceania. One was in Eagle, beautiful 3 bedroom-I loved it, but it was soooo expensive and too big for us at this time. The other two were our unit and one on the first floor. We fell in love with the one we bought. We offered them $100,000 below what they were asking, which was at the top of our budget, and they took it with along with usage for two weeks a year for four years. They are Venezuelan and needed to sell. It had been on the market for 8 or 9 months without an offer. With taxes it still was over our budget, but we were able to manage it, but it'll be a few years before upgrade the furniture.

A couple of things I forgot to mention. You will have to tell where your money is coming from-like a home equity or pension loan or saving, etc.-they just want to make sure it is not criminal activity. You will have to get a 'persons id" after you make settlement because that is what they will link to your tax bill. You also need it if you buy a car.

In part of Canada do you live? My sister-in-law and family are in the Waterloo/Kitchner area now.

Jacki
12-02-2018, 08:20 PM
Hi All!

1st time poster... long time reader.

Looking for advice/tips regarding the purchase of a condo.
Any suggestions on a notary. My realtor suggested Johnson and I've seen him mentioned here.

Did anyone finance in Aruba? Any suggestions on a bank? Plan to put 60 down + closing fees and finance the rest

Any help/tips appreciated!

Frank


Hi Frank!

Welcome to the posting side :)

Aruba4ever
01-07-2019, 11:34 AM
I so enjoyed reading all of this information again, it answered many questions for me as we start the process of buying in Aruba. The one common theme here it appears all of you self-financed. If anyone reading this borrowed any portion of their funds in Aruba I would love to hear from you. I am prepared to put down 50% but anymore would require some creative work....depending on the total costs associated with an Aruba mortgage it may be worth being very creative. Any advice would be much appreciated.

I expect this to take 2 years or so because I will do as many suggested and that is rent in the desired spot a couple of times to get a feel for owning there and I get the feeling financing may not be the way to go after reading this.

Andrea J.
01-07-2019, 12:20 PM
if you are going to finance jay.........what I have been told more than once, is to finance your usa full time residence, not the aruba property and use the funds for aruba.

Aruba4ever
01-07-2019, 12:38 PM
Great advice. I was actually looking at low down payment options here in Mass for our next house. I am thinking only putting down 10% and doing the 80/10/10 program to avoid PMI- I have come up with a creative way of getting 250K or so but it will take a little time and borrowing from myself.

This forum is so valuable as I learned more in a couple of hours reading everyone's posting from a potential buyers point of view than I could have ever imagined. I quickly figured out that financing in Aruba seems like a poor choice and I should figure out how to pay cash for any place we purchase using equity/personal savings/borrowing on a personal level in the states. I also forgot about the fees associated with it...great info!!!!!


if you are going to finance jay.........what I have been told more than once, is to finance your usa full time residence, not the aruba property and use the funds for aruba.

robin
01-07-2019, 04:55 PM
There are ways to be creative-life insurance loan, home equity(I don't think you can you tell them it is for another property though), credit card with0% interest, pension loans are a few. If you rent out what you buy, that goes to paying everything off.

GuillermoCh
02-28-2019, 02:05 PM
Hi guys! Is there any Facebook group to join about Aruba's Property Owners?

Andrea J.
02-28-2019, 03:45 PM
go to FB
in the search bar use some Keywords

expats aruba. aruba residents aruba homeowners

let us know how you make out
Hi guys! Is there any Facebook group to join about Aruba's Property Owners?

GuillermoCh
02-28-2019, 04:31 PM
go to FB
in the search bar use some Keywords

expats aruba. aruba residents aruba homeowners

let us know how you make out

Thank you Andrea. I've already tried that; just tought there was a group or page on Facebook about this forum theme.
Be great!