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Has anyone had any experience with mortgages for buying real estate on Bonaire?
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Unlikely from a Bonaire bank, the interest rates are about twice what you would find in the states.
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I can only talk about using the local banking system. As far as I can tell, "Good" terms here are 15 years and 11%. Bad is 10 yrs & 12.5%. Local bank rates are tightly controlled by our "central" bank of the Netherlands Antilles. The N.A. are considered "high risk" areas, hence the higher rates. I think it's just supply & demand. I have no idea if you'd be eligible, but your real estate agent & attorney should know.
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This is by far and away my favorite subject. I have a rep. as a very successful business man, and tough negotiator, and yet I am confounded by the N.A. real estate market...
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Many of your facts lack research ie, protection for the buyer, etc. If one is interested in speculation and turning a quick buck, then I suggest another island. For a more accurate picture, check with Sunbelt realty, etc
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Island life on Bonaire is not for the faint of heart, or wallet. Some islander-wannabees just never make it past the modern version of Darwinism (permits in a foreign country, a mortgage in Dutch, newspapers in Papiamento, a notary that costs more than $2.99 at the drugstore, etc.), which I guess those of us living here should be thankful for.
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well said!
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"Don't Stop the Carnival".....required reading for anyone who thinks they want to live on a tropical isle, right? LOL. Carole
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For me the best part is Lenny the Hurrican .... he cracked houses ???? How did he do it, as he stayed about 5oo miles west of us ???
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Tidal surge was the biggie on Bonaire. Not the wind or the rains. cb
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Brigette...You do understand that some folks judge an elephant by his trunk only....
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Ohh Mike ... you mean that is the expert ???
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Or, perhaps, the leg puller??
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Hi-it was our original question on mortgages that sparked this fun and I want to thank all the talkers for their replies-We have taken all the counsel to heart and yet we press full steam ahead-despite all the potential problems with buying, perhaps never selling, no financing, and plenty of cranky and wonderful locals we will still find our way there a year from now. After years of dreaming and scheming to get to Bonaire we just can't be deterred. Want to fill the house with local art so artists get ready-also plan to help all the Support Bonaire folks-sounds like we'll fit right in after all!
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Hi,
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