LTSteve,
I'm only shopping for information, specifically the technique my Dominican friend has done while living in the states. I am not insinuating that I am committed to taking the same approach. Apologies if you were mislead or confused. I don't know your background, education level or life experiences.
I was born at night, but not last night. Although a US cit, I have not lived in the states for the past 10 years. I've mostly worked in 3rd world countries and have had my BOG in exotic and not so exotic places. I don't claim to be smarter than anyone else, but different experiences bring different opinions. Hell, I'm even considering Liberia as a retirement place. Real estate is dirt cheap, it's very cheap to live and they have a more effective way of handling crime than the DR does. Somebody steals something, the "Teef" get's shot or severely beaten. Nobody cares and few try and test that unwritten law.
Now for some negative DR rant.... With that being said, IMHO, I can say that there are better alternatives to DR. I like the proximity to the states, the people, the climate..... But..... the more I learn, the less I think DR is such a haven to live out a retirement. Maybe back in the 80's. But it's now 30 years later and things changed, for the worse?. Through my travels in the DR for the past 8 years, it seems like each time I go there, the more gringo tax. it started with the tourist tax. And then the unwritten gringo tax, overpriced goods, folks trying to screw you on the exchange rate, wrong change at restos, etc.... Formal taxes: If i understand the tax laws correctly, "Individuals will be required to pay taxes on their worldwide income if they are a resident of the Dominican Republic and have been a resident for at least three years." Guzman's website further states, "Pensions and social security benefits are expressly exempted". Dominican pensions/SS or foreign pensions/SS? Just like any other westernized country, the tax laws change and not to the advantage of the tax payer. I'll bet dollars to doughnuts, 20 years from now, tax will be owed on foreign pensions. Why, because it's an untapped revenue source and the tax hombre can do what he wants. Wait until the Dominican baby boomers (if there is a such a thing) retire from working in the US and bring their pensions to DR.
Back on subject....
It it's not the best idea to build a shell and finish little by little, then maybe there's some bargains in buying a half finished home and finishing it off?
The main reason I am researching this because I have about 10 years to do it. I'm not retiring tomorrow and my work doesn't leave me in one place too long. I would rather build a place on today's dollar than with 10 years inflation.