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Old Thursday, September 24th, 2009, 12:15 PM
PERO PERO is offline
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Default Divi residences

Has anyone heard anything about these private condos they are selling ?

Looking for feedback.

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Old Sunday, September 27th, 2009, 09:15 AM
PhoenixGirl PhoenixGirl is offline
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I Love Aruba Re: Divi residences

They looked almost finished in May when we were last there at the Golf Villas.

They sell from $350,000 for the studio (around 900 SF) to $1.2 million for the almost 4000 SF penthouse. You can also buy a furniture/appliance package including drapes, linens, etc. I remember something like another $50,000 or more. The building is basically the Birdie building with elevators.

On the RCI Points program, it looks like the Residences will be available to rent for points too.

The smaller pool near the Residences is open now. It's very quiet. No spa there which is a shame. Maybe they will add one later.

There is a Divi Residences Rental program for year round owners who want to rent their unit when they are not living there. I have a feeling it will have a lot of renters there for a week or more at a time whether they are RCI points people or renters through the owner's Divi rental program. Maybe investors will buy if they see a good return on their investment, that is assuming that the unit one buys is rented year round. If a studio is $350,000, divide that by 52 weeks and the unit price is $6,730 for each week. I don't know what the maintenance fee is per week, but the rent you could get is probably $1,000 a week. If you kept the rent at a reasonable rate and if the unit was marketed correctly and you kept it fully occupied when you weren't using it yourself, it would not be a bad investment. The unknown of course is IF you could keep it fully occupied when you weren't using it yourself.

If anyone has bought one of these and has worked out the numbers, please jump in and let us know whatever you know. I am guessing at some of these numbers.
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