Do you want to buy a house or apartment?

14 juli 2019

Buying a house or apartment on Curacao?

You have decided to buy a home on Curacao, you have spoken to the bank and it is not a problem financially. Now you are faced with the choice: Will it be a house or an apartment. There are many differences between these two. Think of the purchase amount, the fixed costs, living area, restrictions, possibilities and the obligations and freedoms that exist. Buying a home in Curacao is one of the most expensive purchases you will make in your life, just like in the rest of the world, so make sure you make the right choice. With both a house and an apartment you have the pros and cons. The difference between a house and an apartment are:

A house

A house is all yours. You usually have neighbors, but you usually don’t have much to do with that for your maintenance and the ownership of your house. You can do whatever you want with your house. You can carry out maintenance work on your own. If you purchase a home on a resort or subdivision plan on Curacao, you usually have to deal with an association of owners, this association can impose mandatory requirements when you purchase a home within the resort, these rules are generally intended to improve the quality of life for every resident To guarantee the most common rules on a resort on Curacao are about the maximum part and type of home to be built and the number of pets that are allowed and some resorts go a little further and want to keep all homes in the same style or color. So pay close attention when purchasing whether there is no perpetual clause that you automatically take over.
The purchase price of a house on Curacao is usually higher than that of an apartment, but it is usually the best option for families. You then have space and privacy and the neighbors are not bothered by your children.

Look at the future plans:

When in doubt between an apartment and a house, look at the plans for the future. With children (on the way), a house is the best choice. Of course, a lot also depends on what you can borrow as much as possible, in addition, how much value you attach to the location.If you want to live affordable in a top location on Curacao, for example by the sea or in the city center, you will soon end up with an apartment. If Curacao is not your home base or you are regularly off the island for work, for example, an apartment would be the best option, the risk of burglary is then small and you do not have to carry out maintenance on, for example, a garden or swimming pool.


An apartment

An apartment is part of a larger building. This can be a downstairs or upstairs apartment. In an apartment complex, the owners of the apartments are jointly owner of the entire building and must therefore take care of the maintenance jointly through a VVE.


Buying an apartment is often cheaper than buying a house in the same neighborhood. This makes it easier to get a mortgage. Partly thanks to the (often) smaller living space, energy costs are lower. In addition, you pay less property tax. Maintenance costs are shared with the other building owners. Apartments on Curacao can often be found near shops and other amenities. Everything is usually on the ground floor, so very suitable when you get older. It is also the case that apartments are broken into less often. Social control is usually greater in an apartment complex. Many apartment complexes on Curacao jointly use a security service at night


The biggest disadvantage of an apartment is often the limited living space. Of course you also have exceptions, but in general there is less floor space available than in a normal house. Hardly any apartment has a garden and some don’t even have a balcony. Since you share the building with the other owners, there is also a greater chance of nuisance. You must arrange the maintenance with the other owners, via the VvE. You cannot decide for yourself who will re-cover the roof or start working on it yourself. You are dealing with more rules here. Usually you pay fixed service costs per month.

Making a choice

As said before, the choice for a house on Curacao usually depends on the amount of the mortgage that you can get. But as you have been able to read, there are still several considerations that need to be made. It is important to think carefully about your future situation. If you expect to start having children in the short term, it is better to choose a house. If you prefer smaller or ground floor living, it is wise to buy an apartment.


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