las Terrenas Condo

heavennsangel said:

Maybe some of you guys can give me your take. I am considering purchasing a two bedroom condo or villa in Las Terrenas. We are hoping to find someplace for yearly family vacations and a bit of rental when we are not occupying the property. We were looking at the Monserrat Residence is anyone familiar with this complex? I am also open to any suggestions that you guys may have

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Buy one in that big boat building.

The big issue is going to be security and upkeep when you are not there.. So a condo might be a good choice. Suggest you talk with the folks at Bea Locations who have experience in renting to see what their take is. LT has built and built .. and raised the prices so high that I am not so sure that there is a huge market either for rentals or resale. So do not buy if you are counting on any rental income,

There are places like Colibiri, for example, which have a long history, and a loyal clientele and good management as an "aparment hotel{ . but also lots of new places which require a car for access, and a manager, etc. The market in LT really was on building and selling.. not on the renting.. prices are not a bargin, flights from Europe have been mostly cancelled, I think. But.. El Catey does have flights from Canada.. Problem is that They want to come when You want to go .. ie Christmas, Easter.. or the full six months of winter... and you will be stuck with August which, believe me, is not a treat.

So really look at this closely.. this can be a great investment if you love the village and want to retire there, or spend a few months a year there.. but for a few weeks a year? It is a lot of money. And can be a lot of headaches.

So figure out if you would do it if there were NO rental income at all... And if it is a yes.. then go ahead..

NOT a villa unless you are going to be there or are flush enough to hire a full time manager because it will be robbed if you do not have a guardian.

And check those condo fees. And the electric costs. If you rent at a set fee and they use the AC up there.. wow.. I would think that you could lose money very fast.

So if you have 200k that is sitting around doing nothing... and you figure that you will be down at least a month a year.. and that the place is a sound investment... and you might one day live there...

but, first, Have you been to Greece? Argentina? Peru?

It may seem that you love it there but might you not also want to travel?

Of course lots of folks have lots of money so it is hard to speak to other folks.. but if you own a place, you are kinda locked into going there.. which has its pros and cons..

first, you have to love the place

Angel.. I have not lived in LT for years.. and do not know the present market.. I think that both Squat and LT Steve or Granca.. who all live there either full or part time, will have more details for you.

The advice that I gave you could apply really to property anywhere. But I do watch the prices in LT and have watched the building there.

I do not know, for instance, where the Monserrat Residence is. +

A bit more, Angel.. I looked up the Monserrat.. and if you are looking at the Monserrat 2, which is the one that everyone seems to be pushing... which seems to be a bargin at under 100k.. I would just be wary again since the ads say that it is something like 300 meters from the beach.. and that junction of Arbe Grande seemed a lot farther.. but it could be closer. And it is not built yet.. again a red flag.. but the builder has built other projects.

You really need to ask around the Village and find out for sure if they have their building permits. Go to the Ayuntemento, for a start, and ask there.

It is a small town. You can find out things quickly.

And again.. do not plan on rental income, unless you are really going to push it yourself.. as in Home Away or stuff like that..

but if you make it inexpensive.. you may have a market.. Rent | ColdwellBanker Coast to Coast Real Estate – LasTerrenas

that is assuming that you can get a maid who will clean it ..change the sheets, take the money, etc..

*sounds like less of a vacation home and more of a business, right?

heavennsangel said:

Thank you guys so much for your take on this, Mountainne I will PM a few questions that I have. Thanks again.

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If you are not going to use the condo for at least 4-6 months a year than do not buy. Yes you can rent but most people want it from Dec thru April. The location needs to be close to the beach and also walking distance to stores and shops. I don't know where the location is that you are looking at. Let me know and I can give you a better take on things. Also where are you flying in from?

LTSteve