Over the last five years condo development grew considerably. Condo ownership evidently grew as well. All condos are located in Aruba’s prime area, thus the purchase prices are elevated for most budgets.
In this piece I would like to remind everyone about the additional costs that come with buying a condo. These cost come in every shape or form, be it monthly or yearly. Be prepared to add these to your budget. Most condo owners I talk to tell me that the fees are elevated. I haven’t made a comparison survey with other islands in order to give a educated opinion.
Condo at Eagle Beach
Typical costs are condominium fee, administration fee and/or management fee. Don’t forget about the water, power, gas, sewage (some costs are included in the condominium fee). Last, but not least taxes need to be paid as well. All these fees and costs are variable for the type and size of condo. When you are about to purchase a condo make sure to get a complete picture about the fees and taxes. Ask specifically how much these fees tend to go up in the future.
The vast majority of the condo owners in Aruba try to rent out their property when not in use and this brings additional costs with it. Be it the commission for the middle man or sales tax. Beware.