A Dominican friend who lives in Bacelona (Spain) and seeks to provide living space for family and at the same time make the dream of an own home come true (over time) asked me about my opinion on a new apartment project in Santiago. This person is a legal resident alien in Spain with a legal job.
I do not know the company nor the region of Santiago well enough to give more than a technical opinion so I would appreciate any input about the company, it's previous projects, it's general reputation and the location of their latest project and your thought about the financials.
The company is Inmobiliaria La Hacienda and the project in question is a condominium/apartment complex called Guitierrez Country (details can be seen on their page: www.haciendainmobiliaria.com/Gcountry.htm ), aparently in construction.
The finances look like this:
Purchase price (3/2 any floor level) RD$ 1'450'000.oo
Deposit RD$ 475'000.oo
Balance of RD$ 975'000.oo financed @ 15% for 5, 10, 15 or 20 years.
They can only afford about Eur 300.oo/month (which includes life insurance and so forth) which would just about fit the 20 year monthly payments at the current rate (42DOP to 1EUR).
I am interested to see all your opinions relative to the location, the company, the real estate value and the finances and thank you in advance for your constructive input. Also would I like to know what electrical supply they can expect as well as general maintenace cost like condo fees ect.
Thanks! ... J-D.
I do not know the company nor the region of Santiago well enough to give more than a technical opinion so I would appreciate any input about the company, it's previous projects, it's general reputation and the location of their latest project and your thought about the financials.
The company is Inmobiliaria La Hacienda and the project in question is a condominium/apartment complex called Guitierrez Country (details can be seen on their page: www.haciendainmobiliaria.com/Gcountry.htm ), aparently in construction.
The finances look like this:
Purchase price (3/2 any floor level) RD$ 1'450'000.oo
Deposit RD$ 475'000.oo
Balance of RD$ 975'000.oo financed @ 15% for 5, 10, 15 or 20 years.
They can only afford about Eur 300.oo/month (which includes life insurance and so forth) which would just about fit the 20 year monthly payments at the current rate (42DOP to 1EUR).
I am interested to see all your opinions relative to the location, the company, the real estate value and the finances and thank you in advance for your constructive input. Also would I like to know what electrical supply they can expect as well as general maintenace cost like condo fees ect.
Thanks! ... J-D.