Buying a property is an important decision, especially if you are on a new island. If you are planning to buy a property in Curaçao, there are several important things you should pay attention to. In this white paper we discuss some of the most important considerations for buying a home in Curaçao.
One of the most important considerations when purchasing a home is location. Check that the location of the property is suitable for your needs and lifestyle. For example, do you want to live close to the beach or rather in the center of the city? Please note that certain parts of the island are busier than others and traffic conditions may vary depending on the location of the property. The location is also very decisive if you aim to use the house for holiday rental. The occupancy rate and therefore your rental income differ greatly per location.
When buying a home in Curaçao, it is important to pay attention to the legal aspects of the buying process. Check whether the seller has the correct papers, i.e. a certificate of measurement and a copy of the deed of sale, to sell the house and whether all taxes and levies have been paid. A good real estate advisor can help you check these matters and advise you on the legal steps you need to take.
It is important to check the structural condition of the property before purchasing. Check that there are no hidden defects such as leaks, termites, cracks in the walls or problems with the electrical installation. A building inspector can help you check these things and advise you on any repairs that are needed.
Before buying a home, it’s important to evaluate your financial situation and decide how much you can spend on a home. Please note that in addition to the purchase price, there are also additional costs such as transfer tax (4%), notary fees and brokerage fees. A mortgage advisor can help you analyze your financial situation and advise you on mortgage options.
If you buy a home in Curaçao, it is important to take care of the right insurance. Home insurance protects your home against damage caused by fire, storm and flooding. You can also take out contents insurance to protect your personal belongings.
Buying a home in Curaçao requires that you pay attention to a number of important matters. In addition to the location, legal aspects and structural condition of the house, it is also important to evaluate your financial situation and to take out the right insurance. It is advisable to engage a real estate consultant, building inspector and mortgage consultant to help you check these matters and advise you on the right steps to take. Keeping these important considerations in mind will help you make an informed decision when buying a home in Curacao.
