Considering moving in

The standard advice is to rent for six months. That will give you time to decide whether you like it, and scout out the different areas. An informed buyer is a happy buyer.

Carefully consider the reality of adapting to the DR culture it can be quite an adjustment process that takes plenty of time in comparison to your native homeland!!! Make sure you have a solid steady middle class to upper middle class income to survive on otherwise get luck trying to get by on the DR wagescale!!!

Mr.smith said:

I do apologize if some of my questions were posted on forums in the past. I'm new here. After traveling around the world looking for a new place to settle I narrowed my choices to the Dominican Republic, Panama and Costa Rica. All seem to have a laid back culture from what I seen.
Im considering Santiago or Puerto Plata as markets to buy a casa. The only issue is these foreign owned real estate companies seem to be over charging for their listings. Here in the U.S. I heard the stories of getting a big house for 80k and no more then 100k. Is it possible to get a 2000 sq ft. Home for under 100k here? Preferably one that's not ran down. If so where? One guy told me he know someone that can custom build me a big house for 70k, but I wonder how many corners the builder will cut to meet that price.
Some suggested to rent instead of buy because you'll never get a good return on your investment. The only issue I have with this is why pay rent for the next decade or so if you could've brought the house instead of giving your money to the landlord? Still others said condos are the best bet here. As for a deposit i'm willing to go up to 20k, maybe 25k.I will be back in June so I'll have plenty of time to research property before I return.

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Why? Because the odds are that you'll never get full return on the money that you invest, finding an area you like more than the one you're in and moving there is as simple as outliving a 6 Month lease, if you move in and get robbed, mugged or otherwise assaulted by violence, noise, garbage or whatever you don't have to stick around and see how it ends.

There's a good bit of distance between your chosen sweet spots. I'd say spend a little time in each before you even think about buying anything.

p.s. Don't tell people you have "$20K-$25K as a deposit" unless it's in pesos. Someone will come up with a way to relieve you of it. That's a King's ransom for many.

"Relieving foreigners of their money" is a national sport down here, and real estate is one of the favorite tools. Be careful.

aeiiii aeoooo

too many hours watching house hunters international!!

So.. try just one chilling story.. a Dominicana (lived for many years in the US) and her American husband, retiring to Las Terrenas.. to build their dream house

bought a nice piece of land, outside the village, on a main road

designed their own house, their dream, with gorgeous big windows for the views, lovely french doors to let in the light... a sturdy big wall...

they were robbed about 8 times

because one could see the full house as you came down the hill,

because they did not put bars on the lovely french windows

because they were out of town and distant enough from neighbors

They have been trying to sell for 5 years,, hoping to at least recover a fraction of what they put into it...

so they can buy a secure condo...

come down and see if you like the place.. see if you can adapt.. see which place you like.

Then run the numbers...

you cannot bank on anything here.. like if a colmado with blaring speakers opens up on the corner of your street

or the local drug lord opens up a punto de drogas next door

sure, there are gorgeous place to buy...

the question is really can you live here?

Many folks come and go

here in Paradise..

and if you have to go

it is better not to be trapped into staying because of your "investment"

this is not Key West

Gee, Annie! Don't sugar coat it, huh?

Look> For $100,000 you get very little. Not even a nice apartment in the better sections of Santiago. That's less than RD$4,000,000, which at today's prices is peanuts for a middle upper middle class dwelling.

Think RD$7 million.

Make a list of what you have to have with regard to:
Schools
Safety
Shopping
Entertainment
Transportation
Ease of access
Services
Health

And then get back to us. Maybe we can point you in the right direction. Also, a little bit about yourself, what you do for a living, your family, what you expect to get while living here, like what you have to have...will also help. Most of the people on this board are willing to devote time and energy to helping others relocate here.And, I can add, with some caution, none are out to fleece you.

Cordially,

HB

Hillbilly said:

Gee, Annie! Don't sugar coat it, huh?

Look> For $100,000 you get very little. Not even a nice apartment in the better sections of Santiago. That's less than RD$4,000,000, which at today's prices is peanuts for a middle upper middle class dwelling.

Think RD$7 million.

Make a list of what you have to have with regard to:
Schools
Safety
Shopping
Entertainment
Transportation
Ease of access
Services
Health

And then get back to us. Maybe we can point you in the right direction. Also, a little bit about yourself, what you do for a living, your family, what you expect to get while living here, like what you have to have...will also help. Most of the people on this board are willing to devote time and energy to helping others relocate here.And, I can add, with some caution, none are out to fleece you.

Cordially,

HB

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A $100,000 will get you this : Cabarete villas For Sale - 2865 - Cabarete Real Estate - Dominican Republic However as Hillbilly says there more to moving to another country than putting a roof over your head.

Yes, a condo would perhaps be safer.. but that too comes with its own set of headaches.. a new condo complex does not have a set up board yet who can control the bills and costs.. old condos have plumbing and electric issues

look. I worked in real estate in the States for years..

and you simply cannot talk about 'Buying" here.. til you find out if you can LIVE here...

people always say to rent for six months here but I would say more like 2 two years.. til your Spanish is good enough to understand your neighbors, until you don't want to go back 'Home" for the holidays...

Hillbilly said:

Gee, Annie! Don't sugar coat it, huh?


HB

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Sorry HB!!! But have you ever watched those house hunter international programs? They make it all sound so Simple!! I about went ballistic when I was watching with my sister one night and heard the realtor tell these clients that the bars on the windows were just "decorative""

duck

cover

Watch this photo so you can have an idea. I sold this house in a low mid-class neighborhood of Santiago for US $75,000. but it was worthy for US $100,000. as the last appraiser made in 2006.
Quick sell as my wife was waiting for me in the US.



I don't remember exactly how many construction Mts. it was I think 162 squared metros no sure.

JJ

Try to rent for a while, then you have the option of living different places before investing in a home.

If you just don`t want to rent, then instead of buing a expencive house- try to buy a "economical" condo. Then you dont lose so much money if you dont like it here in the RD.

quote from Mr. Smith: "I have a 6 figure income, but don't want to advertise that here. I just want a regular and simple life."

You just did advertise it. My advice is not to advertise your worth on DR1 or anywhere in the DR. There are serveral people willing to relive you of that wealth.
Not all of them are Dominican either. Real estate agents, Dominicans and expats would love to get their hands on a braggers $$$$.
I hope I don't come off as rude. I am trying to educate you into thinking "The Dominican Way" rather than wherever you are from.
You will get tons of great advice right here on DR1 if you are willing to listen. Ummm some bad advice too so you need to weed that out after spending time reading DR1.

Mr.smith said:

So a condo complex would be the best idea because of safety? Sadly people are getting robbed like that in western countries also. My NYPD buddy said he can't wait until the economy recover because robberies are way up since the recession of 08.

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Condo NOT on the first floor, with gated parking area and locked storm door and another locked foyer door and 2 or 3 locks on your front door. Bars on the windows up to maybe the 4th/5th Floor(so if they were to break in they couldnt steal anything larger than the space between the bars.) Maybe an external diesel generator on the roof for when the power goes out. Surge protectors to protect ALL your electronic items because 120V is NOT constant.

Of course, this simple life includes you NOT telling people your income or inviting The Riffraffingtons to your apartment(even the curvaceous young ladies you will meet, that is why they maketh the cabanas).

If you buy a car, Casa de Conductor insurance, Japanese is the way to go because people cant fix anything else.

Hidden in all of the above is some good advice.
When my friend JJ (Bachata) sold his house, things were different and 75,000 was serious money. Unfortunately, here in Los Jardines an old, medium sized house is not 8+ million just down the street. Yes, of course the area is changing...Our house(s) are now prime commercial real estate and worth almost 1000 times what we paid for it. NO, I am not kidding! This is no longer the place where we moved, that is for sure. No kids in the streets playing ball, too much traffic.

Mr. Smith: Be smart, be quiet, nobody needs to know what you make (but Dominicans will ask you that after knowing you for five minutes!!) ...
What I wanted to know was what you like to do; what you expect out of your life here, that sort of stuff. (FYI: several retired guys from the "job" down here).
The suggestion to rent for a while--even short term-- will be a good one, you can hop around and see what each place has to offer.

And above all, go slow..really slow. And never, ever believe what your new best buddy is telling you without checking it out thrice!!

HB

Plenty of safe condos. Fit an alarm. Renting is good but don't leave it too long - over the years rents pile up.
If you live there savings on rent will give good return over 10 years in many cases.
Yandandu

This is not typical - I know expat people who have lived for 20 + years in the DR.
In that period of course the market has had its ups and downs as expected - after 9/11 down up again now a little down.
Some people make an investment; leave for a period and expect there to be fewer robberies than Beverly Hills!
Other build eccentric designs out of whims - if they sell they cannot find buyer with same whims - surprise surprise.

Others think of themselves as the greatest property developer since Donald Trump but of course he went bankrupt once or twice also.

Most accurately consider their needs; if it is only part year occupation they are not cheapskates trying to buy pre-construction etc. they buy into a new reputable scheme by a good developer or an established development with good reputation fully secure and managed.

If it is for full year occupation they consider all parts of the deal including security and if building designs to have international appeal on resale.

Its a great chance for many people since living costs are very low; its a wonderful climate; high amenity; low property prices from 60,000 dollars in European parts of town; low taxes; excellent local produce; wide range of sports; friendly people; excellent hub for travel to Europe, Russia, S. America as well as N. America.

Remember many people have lost half the value of 1/2 million dollar US supposedly secure US homes; the value will possibly recover.

Stop this negativity!

mountainannie said:

aeiiii aeoooo

too many hours watching house hunters international!!

So.. try just one chilling story.. a Dominicana (lived for many years in the US) and her American husband, retiring to Las Terrenas.. to build their dream house

bought a nice piece of land, outside the village, on a main road

designed their own house, their dream, with gorgeous big windows for the views, lovely french doors to let in the light... a sturdy big wall...

they were robbed about 8 times

because one could see the full house as you came down the hill,

because they did not put bars on the lovely french windows

because they were out of town and distant enough from neighbors

They have been trying to sell for 5 years,, hoping to at least recover a fraction of what they put into it...

so they can buy a secure condo...

come down and see if you like the place.. see if you can adapt.. see which place you like.

Then run the numbers...

you cannot bank on anything here.. like if a colmado with blaring speakers opens up on the corner of your street

or the local drug lord opens up a punto de drogas next door

sure, there are gorgeous place to buy...

the question is really can you live here?

Many folks come and go

here in Paradise..

and if you have to go

it is better not to be trapped into staying because of your "investment"

this is not Key West

Click to expand...