Buying property in Aruba can be a dream come true, but financing it can require some creativity, especially for international buyers or first-time investors. Fortunately, there are flexible options available beyond traditional mortgages.
Here are some creative financing strategies to consider:
1. Developer Financing
Many new developments in Aruba offer in-house or seller financing. This allows buyers to spread out payments over a period of time—often with less paperwork and more flexible terms than a bank loan.
2. Home Equity from Abroad
If you own property in your home country, you may be able to use a home equity loan to fund your Aruba purchase, giving you a lump sum with manageable interest rates.
3. Joint Ventures or Partnerships
Pooling resources with a trusted partner can make investing in a larger or higher-yield property possible. Joint ownership agreements can clearly define responsibilities and benefits.
4. Currency Strategies
For international buyers, paying attention to exchange rates and using multi-currency accounts can help maximize your buying power and save on transfer fees.
It’s important to work with a knowledgeable real estate agent and a local financial advisor to explore which financing option best fits your situation. With the right approach, owning your piece of paradise is closer than you think.
