Why Invest in the Caribbean Island of Aruba
After the global real estate crisis of 2008 decimated home values across the globe, Aruba struggled for years to bring its overall property values back up to what should be expected of a paradise island in the Caribbean. Today, there is a growing quantity of new houses for sale, making Aruba a prime location for a Real Estate investment, whether it is for your second home, or a vacation home, or if you’re in the market looking for a 2nd income. Aruba’s infrastructure has provided a myriad of quaint suburbs, like San Barbola residence, that are ideal for raising families, or enjoying retirement even. Here are 3 reasons why it is an opportune time to buy a house here.
1. An Investment That Pays For Itself
Everyone knows the best kind of investment is the one that pays for itself over time by saving you money in the long-run. Research shows that half of the tourists Aruba receives every year, are annual visitors. In terms of money, according to BudgetYourTrip.com a family of four would spend nearly $10,000 every year for a one week trip to Aruba. Owning a vacation home eliminates the high costs of hotel accommodation and cuts the need to eat at restaurants every day. It’s an investment that could save you over half of what you would be paying otherwise.
2. An Investment That Pays You Back
If a good investment is one that pays for itself, then a great investment is one that pays you back.
Say you’re a family of four and you own a vacation home that you stay in 1 week out of the year. What do you do the other 51 weeks? The answer is make money. In recent years, platforms like AirBnb and VRBO have become increasingly popular, giving home owners an avenue to gain a supplementary income from their own investments. A recent article in TravelDailyNews.com revealed that AirBnb hosts in Aruba made around $9,200 on average in 2018. The article also claims that this was a 77% growth from the previous year, emphasizing the large growth of the home-sharing industry in Aruba. Currently, a 3-bedroom, 2-bathroom house in a quiet in-land suburb like San Barbola would cost about $280,000 to buy and goes for an average of $200 a night on AirBnb. With current statistics from AirDNA.com showing an average of 52% occupancy, a house like this could potentially make up to $38,000 in a single year. At that rate, your real estate investment in Aruba would pay itself back in a little over 7 years, anything after that becomes profit.
3. An Investment In Your Family
Of all types of investments, most parents would agree, that the best investments are the ones in our children. They are our legacy, and they are the future. Set them up for success by investing in a source of sustainability that can be passed on to them later on. A vacation home can bring your family closer now, and it will ensure financial security later. Aruba is currently experiencing a buyer’s market, with the average price of land being roughly half of other Caribbean islands.
Do not wait too long before the market shifts. It’s time to invest..
So with that, hopefully, any concerns about enjoying life on Aruba are now gone.
Now let us help you find a home for your future happiness.
Looking forward to Real Estate in Aruba? Contact Jorge Zarraga tday at +2977300077