You have checked your credit, you’ve talked to the bank, and you’re ready to start scrolling through listings. But, the “perfect home” is about more than just the number of bedrooms or a Cunucu facade; it is about what is happening beneath the foundation.
Bright Note: Numbers and legal details work together, but don’t worry—we’re here to guide you. A smooth purchase starts with feeling confident about your finances, and if you’re not there yet, our previous blog, E Plan pa Yega na Bo Cas; Your Roadmap to Mortgage Readiness, will help you get ready step by step.”
To help you move forward with confidence, we’ve put together the “Anti-Frustration Checklist”
1. Eigendom vs. Erfpacht – Which One Is Best?
One of the things you will see on our listings is the land type, there is not best or worse, both are great opportunities to start your home dream.
- Eigendom (Owned land): You own the land indefinitely. It;s yours, your children’s, and your grandchildren’s. While highly coveted, these properties often come with a high upfront price tag.
- Erfpacht (Long-Lease Land): this is land owned by the Land Aruba, leased to you for 60 years with a yearly fee to pay (canon).
- The myth: “it’s not really mine.”
- The Reality: For most local families, Erfpatch is the most accessible way to enter the market. Banks treat it almost exactly like owned land for mortgage purposes, and renewing the lease is a standard administrative process.
2. The “Hidden” Detail in the Listing
When you see a price on the website, remember to look for these three insiders details:
- The build year: Older Homes might need electrical upgrades to meet modern bank appraisal standards
- The Plot Size: in Aruba, we measure in square meters (m²) . Knowing the difference between a 400m² lot and a 800m changes your future expansion plans.
- Zoning: Is the area purely residential, or can you run a small business from home? As a professional, your home might also be your future office.
3. The Appraisal Report (Taxatierapport)
Before the bank says “Yes,” an independent appraiser must visit the property. This report tells the bank two things: the Market Value (what it’s worth today) and the Execution Value (what it would sell for at auction).
- Weichert Tip: Always ask for the most recent appraisal. If a house is priced way above its execution value, you might need to cover that gap with extra savings.
4. Why the “Right” Agent Matters
This is where many locals feel the “cash-buyer” pressure. At Weichert, we ensure that our local buyers aren’t just “another name on a list.” We help you understand the processes and the technicalities so that when you make an offer, it is legally sound and professionally presented.
Conocemento ta bo hermenta
Knowledge is your most powerful tool. When you understand the difference between Eigendom and Erfpacht, and you know exactly what an appraisal report means, you’re no longer just a “hopeful buyer”—you’re a smart buyer or seller.
Ta bo momento. Laga nos prepara e caminda hunto.
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