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schexc
03-05-2017, 09:54 AM
After looking at property for six years we finally took the plunge and purchased a one bedroom condo in a new development near Eagle Beach. The project is called The Pearl and is located on the road that intersects the location of The Screaming Eagle and J.E. Irausquin Blvd. Other landmarks are Zuzuroh Italian-Greek Restaurant and The Aruba Breeze.

We chose this location for a number of reasons. First on the list was budget. We had looked at a number of gated communities inland and only one location fit, which was Palma Real. We had stayed there a number of times and felt comfortable there. Then we came across this new development that was closer to the beach, actually less than a five minute walk, and we agreed it was a smarter choice. We met with the developers, brother and sister William and Shirley Cheng, and we were sold. They own the Cheng Grocery Store and also have plans for future residential projects on the island. Our first impression of them is they are both humble, straight up business people. Everyone that we talked to made the same acknowledgements.

We made the purchase offer shortly after the first of the year and we're supposed to close anytime this month. Things have been moving along fairly well so far. The property was to be completed by the first of March and the developers had agreed to let us stay in our condo even if the closing hadn't taken place. So far so good, except that the development is not yet completed and we arrive on 3/8. In concession, they've provided complimentary accommodations at the Aruba Breeze, which they also own. At least we'll have access to the unit, which is right next door. Our plan is to outfit our unit over the three week period that we're on the island for occupancy and future rental. It should be both fun and an exciting time for us.

We'll update this thread as things progress.

The Pearl Common Areas
https://photos.app.goo.gl/BS8VTPcULrJmtnEu6

Andrea J.
03-05-2017, 10:01 AM
:) wonderful!!
very happy for you 2!


After looking at property for six years we finally took the plunge and purchased a one bedroom condo in a new development near Eagle Beach. The project is called The Pearl and is located on the road that intersects the location of The Screaming Eagle and J.E. Irausquin Blvd. Other landmarks are Zuzuroh Italian-Greek Restaurant and The Aruba Breeze.

We chose this location for a number of reasons. First on the list was budget. We had looked at a number of gated communities inland and only one location fit, which was Palma Real. We had stayed there a number of times and felt comfortable there. Then we came across this new development that was closer to the beach, actually less than a five minute walk, and we agreed it was a smarter choice. We met with the developers, brother and sister William and Shirley Cheng, and we were sold. They own the Cheng Grocery Store and also have plans for future residential projects on the island. Our first impression of them is they are both humble, straight up business people. Everyone that we talked to made the same acknowledgements.

We made the purchase offer shortly after the first of the year and we're supposed to close anytime this month. Things have been moving along fairly well so far. The property was to be completed by the first of March and the developers had agreed to let us stay in our condo even if the closing hadn't taken place. So far so good, except that the development is not yet completed and we arrive on 3/8. In concession, they've provided complimentary accommodations at the Aruba Breeze, which they also own. At least we'll have access to the unit, which is right next door. Our plan is to outfit our unit over the three week period that we're on the island for occupancy and future rental. It should be both fun and an exciting time for us.

We'll update this thread as things progress.

DiviDiviFan
03-05-2017, 10:10 AM
Very exciting, Congrats and Best of Luck!

Aruba4ever
03-05-2017, 10:17 AM
So exciting for you guys! Have fun on the start of your new adventure.

cpjones
03-05-2017, 10:36 AM
Very exciting..... you have a lot to do in a short time.... don't let it interfere with a few beach visits.

act1966
03-05-2017, 10:55 AM
Congratulations! Don't hesitate to pm if you have any questions, schexc.

schexc
03-05-2017, 11:51 AM
Thank you!


Congratulations! Don't hesitate to pm if you have any questions, schexc.

Pegmeister
03-05-2017, 12:10 PM
You must be crazy excited!!! Congrats!!

WaltVB
03-05-2017, 12:57 PM
That's awesome! Congrats!

schexc
03-05-2017, 05:10 PM
Thank you everyone for the likes and well wishes!

Mohair
03-06-2017, 12:27 AM
Congratz!

We just closed on a condo at Aruba Breeze! We will be arriving tomorrow. Stop by and say hello (unit A8)!

Dennis and Cyndi

Jacki
03-06-2017, 07:49 AM
Congratulations!!! Commonly used word....but...how exciting! I can't even imagine that feeling! Best wishes in your new home :)

Liz - Aruba Lover
03-06-2017, 08:40 AM
Very exciting. Many years of enjoyment.

schexc
03-06-2017, 03:30 PM
Thank you for the invitation and congratulations to you too!


Congratz!

We just closed on a condo at Aruba Breeze! We will be arriving tomorrow. Stop by and say hello (unit A8)!

Dennis and Cyndi

Sue M.
03-07-2017, 06:01 PM
How exciting. Congrats and I know you will enjoy having your own place to stay. A great way to start out your vacation.

robin
03-09-2017, 10:22 PM
We close the end of the month at Oceania. You are right around the corner.

Aruba4ever
03-09-2017, 10:34 PM
Look at all these Aruba owners, nice work guys!

schexc
03-19-2017, 11:28 AM
Things are moving along very quickly at The Pearl. The development takes a different shape everyday, with different facets being worked on throughout the property. We met with Shirley Cheng, she is one of the developers, the other being her brother William, last week. We can't say enough about them. They are so welcoming and accommodating. It looks like we'll be able to move all of the furniture that we have on hold into our unit anytime after the 25th of this month. We also have a tentative closing date set for the 25th, which we're unclear on how that will happen since we haven't received the final invoice from the Notary yet. We met with William yesterday and he's agreed to complete our unit in time for us to stay in it a couple of nights before we leave, even though they don't expect to have the property completed for a couple of weeks, at which time they will start renting out units and owners taking occupancy.

We know it's not a done deal yet, but so far the process has been a breeze. Unfortunately the property wasn't completed as scheduled, it's Aruba, but the developers we're gracious enough to provide us complimentary accommodations during the duration of our stay this trip.

We'll keep you updated as things move along. Thanks for sharing the excitement with us!

Traceyd14
03-19-2017, 12:07 PM
So exciting! Hopefully everything will work nd and you get to enjoy a few nights in your new place!

susan.b
03-19-2017, 12:11 PM
That's terrific news! Congratulations!

Jacki
03-19-2017, 04:57 PM
Love that you have the correct attitude - it's Aruba and that's how it works! Congrats again & thanks for bringing us along on your ride!

schexc
03-19-2017, 09:24 PM
Thanks Jackie! It's no different in the states. We built a new house that started in 2013. It was suppose to take 4-6 months to complete. We were in in 10!


Love that you have the correct attitude - it's Aruba and that's how it works! Congrats again & thanks for bringing us along on your ride!

WaltVB
03-20-2017, 12:17 PM
So excited for you guys! Thanks for sharing your ups and downs with us!

aerostern
03-20-2017, 05:24 PM
congrats! is there a website or link to the developement u purchased in? also looking to buy a place on the island :)

schexc
03-20-2017, 10:04 PM
http://www.arubahouses.com/Real_estate_aruba/THE-PEARL-forsale.htm

schexc
03-26-2017, 12:58 PM
We met with our real estate agent last week, Michel Frank, the owner of Realteza Real Estate. He and his wife have been good friends. We sat and talked with them for about three hours, just catching up and discussing the island.

We have a meeting with the notary tomorrow morning. Since we won't be on the island at closing we have to assign a POA and they will also let us know what further documents they made need. We'll get our final amounts due and get another tentative closing date. I imagine we'll close sometime late April.

We're almost done moving in for now and we'll be staying in our unit the last two nights before we leave.

The management company has given us the tentative rental rates for our unit and we'll post them soon in another thread with a link to pictures of our unit. We decided on short term rather than long term rentals, so that we can have more freedom to use our unit.

We're getting closer...

hatteras
03-26-2017, 02:56 PM
Great to hear that you are in your new apartment. We had been thinking about giving Aruba Breeze a try. Do you know how far the walk is to the beach? Do you share the beach with LA Quinta? Do you know how difficult it is to get a palapas there? Enjoy the rest of your trip.

schexc
03-26-2017, 06:39 PM
It takes us old folks about 4-5 minutes to walk to the beach. We usually go to the beach for an hour to an hour and a half, so have never looked for palapas. We just grab our beach chairs and plop down in the sand close to the water. We'll look more closely the next couple of days and try to answer your specific questions better.


Great to hear that you are in your new apartment. We had been thinking about giving Aruba Breeze a try. Do you know how far the walk is to the beach? Do you share the beach with LA Quinta? Do you know how difficult it is to get a palapas there? Enjoy the rest of your trip.

Jacki
03-27-2017, 09:34 AM
Insanely excited for you!

schexc
03-30-2017, 02:08 PM
We had a final meeting with the notary and they gave a tentative closing date of May 8th, which is fine with us. By then the resort will be completely finished and ready for occupancy, although the developer said that they were already taking reservations for April. We will be returning in October for our own use. We don't have to return for the closing. Everyone has been so good to us. It has been a very happy, stress free process...so far.

schexc
03-30-2017, 02:12 PM
There are palapas in front of La Quinta on Eagle Beach. Correct me if I'm wrong, but aren't all beach areas public? What is the regulation on palapas? We've never used them. Do the resorts own them or are they part of public use in all areas?


Great to hear that you are in your new apartment. We had been thinking about giving Aruba Breeze a try. Do you know how far the walk is to the beach? Do you share the beach with LA Quinta? Do you know how difficult it is to get a palapas there? Enjoy the rest of your trip.

Andrea J.
03-30-2017, 02:39 PM
All beaches ARE public (with the exception of the beaches on private islands (renaissnace and depalm).
All FIXED (permanently anchored in the sand) palapas are for public use.

Some/Many resorts tend to, and maintain the fixed palapas in front of their resorts. (although not obligated)
That being said ANYONE can bring their OWN chair and sit at a Palapa and enjoy.



There are palapas in front of La Quinta on Eagle Beach. Correct me if I'm wrong, but aren't all beach areas public? What is the regulation on palapas? We've never used them. Do the resorts own them or are they part of public use in all areas?

Jacki
03-30-2017, 02:50 PM
right - the chairs are owned by the resorts & locked up at night. Employees of each resort will bring chairs over to palapas for the guests of their resorts. The palapas themselves are free for anyone to use.

schexc
03-30-2017, 04:01 PM
That's what I thought. Then my next question is. How can one reserve a palapa that is public?


All beaches ARE public (with the exception of the beaches on private islands (renaissnace and depalm).
All FIXED (permanently anchored in the sand) palapas are for public use.

Some/Many resorts tend to, and maintain the fixed palapas in front of their resorts. (although not obligated)
That being said ANYONE can bring their OWN chair and sit at a Palapa and enjoy.

schexc
03-30-2017, 05:57 PM
Some pictures of our condo that we took just before we left.

https://goo.gl/photos/P3FAUsXz6nRzUaxi7

Aruba4ever
03-30-2017, 07:55 PM
I think easiest and only way you can reserve is by getting there 1st and setting up for the day, lol. Bring a small (or large) chair and set up shop and enjoy would be my suggestion.


That's what I thought. Then my next question is. How can one reserve a palapa that is public?

Aruba4ever
03-30-2017, 07:58 PM
Love the your place. It looks like you did a lot of work to get your place move in ready! How are you going to last till your next trip? It would be killing me to own and not be there, lol. Great problem to have though :)


Some pictures of our condo that we took just before we left.

https://goo.gl/photos/P3FAUsXz6nRzUaxi7

Andrea J.
03-30-2017, 09:04 PM
NICE :)

Re: the reservations of fixed palapas.
that deserves a whole new thread!!!




Some pictures of our condo that we took just before we left.

https://goo.gl/photos/P3FAUsXz6nRzUaxi7

schexc
03-30-2017, 09:49 PM
Thank you. We accomplished a lot, but still have to add some decorative furnishings next trip, i.e.; color.

Funny you should mention that. I have always been pro aruba, the bride took some coaxing. A couple days before we left she asks if we can stay another week and also can we return in the summer? Blew my mind! I think she's finally calling it home.


Love the your place. It looks like you did a lot of work to get your place move in ready! How are you going to last till your next trip? It would be killing me to own and not be there, lol. Great problem to have though :)

schexc
03-30-2017, 09:52 PM
I only brought it up because hatteras asked about it. Everyone provided my thoughts. I just didn't want to give the wrong info.


NICE :)

Re: the reservations of fixed palapas.
that deserves a whole new thread!!!

Pegmeister
03-30-2017, 10:00 PM
Your condo is so cute!! Thanks for sharing the photos. I imagine it was kind of hard to leave and go home.

schexc
03-31-2017, 06:22 AM
Thank you and yes it was hard to leave. We only stayed in it two nights out of the 21 that we were there. At least it's there for next time.


Your condo is so cute!! Thanks for sharing the photos. I imagine it was kind of hard to leave and go home.

Jacki
03-31-2017, 07:57 AM
All she needed was her own little piece of paradise! The place looks great!


Thank you. We accomplished a lot, but still have to add some decorative furnishings next trip, i.e.; color.

Funny you should mention that. I have always been pro aruba, the bride took some coaxing. A couple days before we left she asks if we can stay another week and also can we return in the summer? Blew my mind! I think she's finally calling it home.

schexc
03-31-2017, 11:14 AM
Thanks Jackie. You hit the nail on the head.
The comdo fits our needs. We're just want to make warm and inviting to renting couples that have the same needs. We saw the projected rental rates when we met with the developers during our stay. A unit like ours will rent in the low season for $115.00 a night and in the high season at $138.00 per night, plus taxes and fees. These are tentative, so we'll announce the final once they become public. The area seems to rent well in high season. The Aruba Breeze next door had no vacancy. Although some of their units had long term rentals only. We'll see. At least we have an investment that we can call home.

tellme200@email.com
04-18-2017, 12:15 PM
Congratulations to you! I just purchased a resale at Aruba Breeze next door, closing early May, so we'll be neighbors!! Question for you and anyone else who can give advice -- I am going to be renting my unit to vacationers, and am using the onsite manager (Owen). For the rental income, I'd like some or all of it to be transferable to the US without paying crazy fees (Arubabank charges a maintenance fee, transfer fees, deposit fees (if someone other than me deposits I believe), etc.. I don't want to be fee'd to death here.....does anyone have an idea as to how to get my rental income to the states easier/cheaper? Thank you all!

robin
04-18-2017, 12:39 PM
Your condo is very nice. You got a lot done is a short amount of time.

robin
04-18-2017, 12:45 PM
We recently purchased at Oceania and will be renting the unit when we are not there(we'll be there Jan.-March hopefully). We plan on using the income to pay the condo fees, taxes and utilities and the rest while we are there for our expenses. Since we will be there during the high season our income won't be huge, so excess should not be an issue-we are hoping to have enough income to pay the expenses on the unit-condo fee, utilities, taxes, etc. You might see if the management company will hold your income in their account so you don't need to open a bank account and do a once a year transfer. We looked into opening a bank account the the fees are crazy.

Jacki
04-18-2017, 01:58 PM
Welcome to the posting side :D



Congratulations to you! I just purchased a resale at Aruba Breeze next door, closing early May, so we'll be neighbors!! Question for you and anyone else who can give advice -- I am going to be renting my unit to vacationers, and am using the onsite manager (Owen). For the rental income, I'd like some or all of it to be transferable to the US without paying crazy fees (Arubabank charges a maintenance fee, transfer fees, deposit fees (if someone other than me deposits I believe), etc.. I don't want to be fee'd to death here.....does anyone have an idea as to how to get my rental income to the states easier/cheaper? Thank you all!

schexc
04-18-2017, 02:11 PM
Thank you, as is yours. It fit within our budget and provides what we need. The penthouse at Blue would have fit our needs too, bit I'd be working until I'm in the dirt to maintain it:) We started with an empty unit, minus the appliances. Shopping economically in Aruba takes some effort but can be done. It seemed like we hit every store imaginable to reach our goal. We still need a few finer detailed items, but we'll save that for next trip.


Your condo is very nice. You got a lot done is a short amount of time.

schexc
04-18-2017, 02:18 PM
Our plan is to do the same thing, although it'll be a couple more years before we reach that schedule. We also might return in mid-September and stay until the week before Thanksgiving. We purchased for an investment, so if we rent it'll hopefully just cover the fixed expenses, which for us is very reasonable. We're going to bank out rent receipts with the management company and they will pay the bills on our behalf. At least that's the plan so far. Yes, the fees are crazy!



We recently purchased at Oceania and will be renting the unit when we are not there(we'll be there Jan.-March hopefully). We plan on using the income to pay the condo fees, taxes and utilities and the rest while we are there for our expenses. Since we will be there during the high season our income won't be huge, so excess should not be an issue-we are hoping to have enough income to pay the expenses on the unit-condo fee, utilities, taxes, etc. You might see if the management company will hold your income in their account so you don't need to open a bank account and do a once a year transfer. We looked into opening a bank account the the fees are crazy.

schexc
04-18-2017, 02:22 PM
Congratulations to you too. There was a lot of sales activity going on in this area while we were there in March.

Great question. It'll be interesting to hear the answers. As you read you'll see we have a plan in place.


Congratulations to you! I just purchased a resale at Aruba Breeze next door, closing early May, so we'll be neighbors!! Question for you and anyone else who can give advice -- I am going to be renting my unit to vacationers, and am using the onsite manager (Owen). For the rental income, I'd like some or all of it to be transferable to the US without paying crazy fees (Arubabank charges a maintenance fee, transfer fees, deposit fees (if someone other than me deposits I believe), etc.. I don't want to be fee'd to death here.....does anyone have an idea as to how to get my rental income to the states easier/cheaper? Thank you all!

Andrea J.
04-18-2017, 03:15 PM
paypal?


Congratulations to you too. There was a lot of sales activity going on in this area while we were there in March.

Great question. It'll be interesting to hear the answers. As you read you'll see we have a plan in place.

tellme200@email.com
04-19-2017, 09:41 AM
Paypal, huh? Good idea!! I will ask management. Thanks

tellme200@email.com
04-19-2017, 10:26 AM
Beautiful!
Is that a sofabed in the Living Room? I need a few furniture pieces (sofabed, 2 extra dining chairs, knick-knacks, artwork) and was wondering where you shopped

schexc
04-19-2017, 01:04 PM
We chose not to get a sofa bed but they can be found. We wanted a piece that would wear well with tenants and last for awhile so we picked it up at S Ford Furnishings. They seemed to have the best value for the money spent. There are other locations that are less and more expensive though.

We bought the teak furniture at Home and Nature, again for durability. Very nice people.

I will also add that both stores deliver with no additional charges.

We also looked at Crown. It wasn't bad quality, we just wanted something better. Keep in mind that they discount the their pricing by 25% if you're paying by cash or credit card.

You can also try Hagemyer. A lot of their furniture is Ashley. Seemed to be a little pricey for the quality.

If you're looking for modern furniture try E3...$$$$

Another place to look for nick knacks is the Flora Store. They have a lot of items to choose from.

We really haven't looked for artwork yet, so nothing to add there.

Hope this helps.


Beautiful!
Is that a sofabed in the Living Room? I need a few furniture pieces (sofabed, 2 extra dining chairs, knick-knacks, artwork) and was wondering where you shopped

tellme200@email.com
04-19-2017, 05:11 PM
Thanks for the great info!
We're probably going to be in Aruba for the 2017 Art Fair but not certain of the dates yet - http://arubaartfair.com/

tellme200@email.com
04-19-2017, 05:42 PM
Thank you for the information and insight.

schexc
06-25-2017, 09:41 AM
It's official...we finally closed this past Wednesday the 21st, almost six months from the signing of the purchase offer. It took us a little longer then normal, as we had to wait for the project to be partitioned into individual units by the taxing authority, determining annual taxes owed. It was really no bother for us, as The Pearl just made a "soft" opening the first week of June, and we're not headed back to the island until early October. We gave the Notary POA so everything was signed and dated without a need for us to return to the island. All we have left to do now is send sign the contract for the management company and we're ready to start renting. Hopefully everything will be satisfied by mid week.

For anyone that is interested in investing in a home in Aruba we only have three words of advise...GO FOR IT!

The process for us was not difficult. One just has to be a little patient with the email communication. It would have been much easier if we were fluent in Dutch and Papiamento though. Everyone we worked with did an exceptional and professional job. Hats off to everyone involved!

Now all we have to do is get back to the island. The trip ticker can't move fast enough!

Pegmeister
06-25-2017, 10:28 AM
Congrats on making it official!

robin
06-25-2017, 10:36 AM
Congrats! It is an awesome feeling to own a piece of paradise.

Andrea J.
06-25-2017, 10:49 AM
wonderful :)

Jacki
06-26-2017, 09:37 AM
Congratulations!!

WaltVB
06-26-2017, 02:04 PM
Congrats on making it official!

Aruba4ever
06-26-2017, 02:56 PM
Congrats! You must be really excited to officially own your own place in paradise.

schexc
10-29-2017, 08:50 AM
Updated photos of our condo and the development.

https://photos.app.goo.gl/lRquP1F4VtxyZhR42

Pegmeister
10-29-2017, 09:20 AM
I love the blue walls!

robin
10-29-2017, 05:48 PM
I love the colors you painted the walls.

schexc
10-29-2017, 06:26 PM
Thank you Pegmeister and Robin! It was a week long debate!

Pegmeister
10-29-2017, 06:55 PM
The color gives your place a welcoming vibe. Looks great.

Andrea J.
10-29-2017, 07:17 PM
love the accent walls.

makes things POP!

Jacki
10-30-2017, 09:18 AM
Sorry to be repetitive, but I LOVE the colors!

Aruba4ever
10-30-2017, 09:51 PM
Your place looks great! I too like the blue walls, lol.