To find a house in Aruba that you would like to buy or rent, it is often easier to hire a real estate agency. Real estate agents on the island know the houses and the prices best. You can also get a house more easily there and the sellers of houses will sell their house to you faster if you want to buy it from their broker. If you enter a house for sale without a real estate agent, it will most likely be disappointing. It is best to hire Real estate Aruba.
Does a broker cost money?
Real estate agents earn a number of percentages on a house that is sold. The percentage is usually between 1 or 2%. The 1 or 2 percent is paid by the owner of the house. This will be settled after the sale. If you sell your house for 350,000 dollars, a broker will quickly earn 4 to 5 thousand euros on this. Brokers generally make pretty good money.
Are you looking for a house or apartment yourself and do you want help with this? Then it will cost you nothing to engage the broker. When you buy a house that comes from the real estate agent? Then the broker should settle the costs with the owner of the house. The brokers should never just ask for money for looking for a house.
What are the interest rates on a mortgage?
Buying a house with a bank loan sounds very attractive and in most countries this is done. In Aruba, however, the interest on a mortgage is much higher than the average countries. The mortgage interest is currently at a percentage of 5.75 which is almost unaffordable if you have a mortgage of 250,000 euros. Most people therefore prefer to pay off the house in one go.