Your search results

Costs When Buying a House in Curaçao

by Aida Moret on February 27, 2024
Costs When Buying a House in Curaçao

Buying a house in Curaçao is an exciting step, but it’s important to consider the various costs associated with this transaction. In addition to the purchase price of the house itself, there are other expenses to take into account. Here’s an overview of the main costs when buying a house on this beautiful island in the Caribbean.

Notary Fees
The notary plays a crucial role in documenting the legal aspects of the real estate transaction. Notary fees include drafting the purchase agreement, conducting research on the property history, preparing the deed of transfer, and registering the property transfer. Notary fees typically range between 1% and 2% of the purchase price.

Transfer Tax
Transfer tax is a tax levied on the transfer of real estate. In Curaçao, the transfer tax is currently 4% of the purchase price of the house. This amount is paid by the buyer and must be settled when passing the deed of transfer at the notary’s office.

Cadastre Registration Fees
After the property transfer has taken place, the new owner must register the property with the Cadastre. The costs for this registration vary depending on the purchase price of the house and are calculated according to a set scale. Generally, these costs range between 0.5% and 1% of the purchase price.

Appraisal Report
In many cases, banks require an appraisal report before granting a mortgage. The costs for an appraisal report vary, but usually range between $300 and $500, depending on the value of the house.

Mortgage Costs
If you take out a mortgage to finance the house, there are various costs associated with obtaining this loan. These costs may include administration fees, appraisal costs, advisory fees, and mortgage registration fees. These costs can vary significantly, and it’s wise to request quotes from different banks to find the best deal.

Insurance and Maintenance Costs
In addition to the direct purchase costs, there are also ongoing expenses to consider. These include costs for building insurance, contents insurance, any common maintenance costs in the case of an apartment, and regular maintenance of the house.

It’s important to take these costs into consideration and create a solid financial plan before buying a house in Curaçao. Seeking advice from a financial advisor or local real estate agent can help you gain a clear understanding of all the costs involved in the purchase. This way, you can confidently take the step towards owning your own piece of paradise on this beautiful island.


Leave a Reply

Your email address will not be published.

  • Change Your Currency

  • Advanced Search