If you are new to the housing market it is quite an experience; looking for a house and hopefully buying a house. It is useful to know exactly how to proceed, what you should pay attention to, what is important and how keep thinking clearly and rationally during such a big step in your life. Fortunately, we have been working for years in the real estate industry and are happy to help you!
Talk to a financial advisor
Buying your own home is often a big step. There are several things that you have to consider and a financial adviser can help you understand your financial situation and the possibilities you have in obtaining the necessary financing. This step cannot be skipped being the first point on your to do list.
In which neighborhood do you want to buy?
A neighborhood should fit you like the house and connect with your lifestyle and wishes. Who are the neighbors? Is the neighborhood child-friendly? Do you want to live centrally, or rather in peace and quiet in Banda Abou? How does your commute to and from work look like? All things to keep in mind when orientating a neighborhood where you will feel at home! Of course, we can always help you in selecting the neighborhoods. Maybe we also have personal tips!
What conditions should your home meet?
Do you want a house or an apartment? How many bedrooms must the house have and how much outdoor space will you find comfortable around the house? Is a spacious kitchen important to you or do you prefer some extra storage space? Make a list of conditions that your future home has to meet.
Select available properties
Make a selection of the available properties that appeal to you. Of course, these homes must fit within your budget, meet your requirements and be located in one of the neighborhoods that appeal to you. Also, take a look into the future; the house may meet your current needs, but will that still be the case in a few years’ time?
A home may not initially satisfy all your wishes. Do not be alarmed by specific features such as the color of the interior or exterior of the home. Perhaps the house has some overdue maintenance or there are other things that can be easily solved with relatively low investment. During an inspection, try to look with an open mind and focus on the possibilities to adapt the house to your own wishes.
You have found your home and are about to buy it. Congratulations! Before purchasing, we recommend that everyone has a builder inspect the house. This is very common in Curaçao and gives you a safe feeling! We also recommend building inspections when purchasing a new home. During the inspection, the inspector will look at overdue maintenance, deterioration by white ants, the presence of asbestos and detect minor or major defects. In short, you know exactly the state of your future home!
Before you close the actual purchase, you should check with the land registry or the mortgage office if there are any third-party insurance claims on the house or whether it is free of mortgage and who the owners are.
The selling brokers
The broker where the house is for sale, works on behalf of the seller. This means that the broker represents the interests of the seller. This is important to realize when you go into the buying process. If you would like to be assisted by a specialist who looks after your interests, then hire your own purchase broker. In this way you can be sure that they will act and think in your favor.
With only the repayment of your personal financing, you have not yet mapped out all your expenses. Always keep in mind the amount of the property tax, land tax, any ground rent or service costs of a resort. This is important to determine your monthly expenses and to know whether the purchase of the home is financially feasible.
Homes in Curaçao are usually sold on an additional cost basis. This means that the buyer must, among other things, pay the transfer tax and the notary costs. These costs can be high so you need to know them in advance. The notary can give you insight into the amount of these costs. Since the buyer pays the notary fees, the buyer may designate the notary whom they wish to ensure the property will be transferred from seller to buyer.
All in all, we can say that buying a home is a big step that requires careful consideration. Landmark helps you with the purchase process of your home and guides you in all the steps that are necessary to make the process run smoothly for you. Buying a house is still a big step, but we make it just that bit easier for you!