Lease land
Besides property land you can buy a house which is built on lease land. This land is owned by the Land of Aruba and the lease is for 60 years.
A yearly fee is paid for these lease rights. After the 60 years, the lease period will automatically be extended with another 60 years. The only thing that might happen when the lease period is extended is an increase in the yearly fee.
Most of the houses situated in Arashi, Malmok, Tierra del Sol, Topaz, Safir, Esmeralda, Ruby, Opal, Salinja Serca and Palm Beach are built on lease land. Many non-residents have bought there and will keep buying in those areas although the homes are built on lease land!
The reason they keep buying houses in those areas is because of their locations. These areas are close to the spas, golf course, tennis courts and shopping malls. Another huge advantage is the distance to the ocean.
Building a new home begins long before the
foundation is poured. To avoid costly mistakes during the construction process,
start with these five important steps.
1. Plan Your Budget
Begin now to think about how much you can afford to
spend and how much building your new home is likely to cost. Chances are you will
need a construction loan and a mortgage. It's not too early to find out what
size loan you qualify for. Also, knowing the approximate costs will help you
modify your building plans to meet your budget.
2. Choose Your Lot
Whether you are building your home in a suburban
development or a site with sweeping ocean views, you will almost always need to
choose the land before you select floor plans or other details. You (and any
pros you hire) will need to investigate factors such as soil condition,
drainage, zoning and building codes in the region.
3. Line up Your Team
Unless you are a homesteader, you'll need a team of
experts to design and construct your house. Key players will include a builder,
an excavator, a surveyor and a home designer or an architect. Many homeowners
begin by selecting the builder or contractor. That pro then selects other
members of the team. However, you may also opt to hire an architect or designer
first.
4. Pick a Plan
Many new homes are built using stock plans from a
catalog. The builder or a home designer may make minor modifications in room
size, window style or other details. A custom-designed home, on the other hand,
is created specifically for the family which will live there. In most cases,
custom-designed homes require the services of a licensed architect. Whether you
opt for a stock or a custom design, you will be wise to choose a plan that will
meet your needs for many years to come.
5. Negotiate a Contract
Be sure to get a written contract which has been
signed and dated by both the builder or contractor and the architect or
designer. A contract for new home construction will describe the project in
detail and include a listing of all the parts to be included in the house.
Remember to amend the contract if you or your team make any changes to the
project later on
1 comment:
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