Is US rental property good income in the DR?

tflehto

New member
Mar 4, 2004
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Hi folks,

I am an American, and my wife is a US citizen who lived in the DR for about
ten years.

We have kicked around the idea of leaving the US, and moving to the DR. My question is, theoretically, if you are receiving US$1,000 in rental income,
would that be enough to live on in the DR considering the current exchange
rate? What sort of tax implications would there be with the Dominican government if I only maintain residency for the first few years.

Thanks.
 

trt

New member
Feb 3, 2004
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Well, it all depends on where you want to live and what kind of standard of living you expect.

My husband and I are US citizens living in La Romana with our baby. There is no way we could live on $1,000 a month. Even $1500 would be tough for us. But, we are living pretty much the way we did in the US. (and kids are expensive no matter where you raise them....)

The exchange rate is kind of immaterial, because prices seem to keep pace, at least groceries, clothes, etc. For instance, a quart of milk was 28 pesos when we got here four months ago. Last week I paid 38 pesos. About 75 cents, then and now.
 

pati

New member
Feb 3, 2004
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trt said:
Well, it all depends on where you want to live and what kind of standard of living you expect.

My husband and I are US citizens living in La Romana with our baby. There is no way we could live on $1,000 a month. Even $1500 would be tough for us. But, we are living pretty much the way we did in the US. (and kids are expensive no matter where you raise them....)

In your opinion do you think there is a market for apartment rental by Americans (long or short term) in LaRomana?
 

Englishman

New member
Nov 5, 2003
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Yes, definitively it depends on the way you want to live.
there is people here which makes 3000 pesos a month and they survive a family, but obviously this is not your and our case.
Let me see.
I live in San Geronimo, a medium-level residencial area here in Santo Domingo, DN.
I live in a very nice 150 sq.mt. apartment with fans, air conditioner, etc. (no pool), and I have a 95' Toyota Corolla, one wife with her daughter and a small dog. We own the apartment
We don't have any job right now since one year, but we like having fun, going to the beach, drinking sometimes...

Ok let's make the list per month
Apartment (imagining we have to pay the rent) 12500 pesos
food 12000 `pesos
college 2500 pesos
phone bill 1000 pesos
electricity bill 1500 pesos
gasoline 2000 pesos
maid (3 days per week) 1800 pesos
fun 10000 pesos
various 5000 pesos

total 48300 pesos
(we own the apartment) (- 12500 pesos)
net total 35800

this is, more or less, what we spend monthly. How much in US? divide for 50
and you will get the figure.
We are european and maybe we have a different living standard from you, but we fell pretty well because all this is work-free...I mean we left tight schedule,bosses,cold weather behind and now we do small thinghs and or business and take care of our body and soul.
Good luck.
 

trt

New member
Feb 3, 2004
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pati said:
In your opinion do you think there is a market for apartment rental by Americans (long or short term) in LaRomana?

Not sure. We've only been here a few months, but all the Americans seem to be at Casa de Campo rather than in La Romana proper. I don't see a lot of other gringos at the groceries or the barber where we take our son, for instance.
 

santanatwins

New member
Jan 20, 2004
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my budget

I live in Santiago and pay the following a month:

Rent 6000 pesos (3 bedroom, 2 bath, service room with bath,lv,dr,k)
Food 6500 pesos ( buy big sizes to maximize)
Electric 400 pesos ( we don't have air conditioning)
Cellphone 1000 pesos (incoming calls are free)
taxis 2500 pesos (I live walking distance to Pharmacy,school,grocery)
pharmacy 2500 pesos (kids get sick)
fun 5000 pesos (ice cream, pizza, movies, drinks)

In U.S prices.....about $500 a month. I live in a residential area. 10 minutes from the center of town.
 

tourjoy

New member
Mar 13, 2004
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Budget breakdown...Questions...

I made this list to determine my cost in the US. Retired couple looking for safe, nice place to live. Can you copy and paste and fill in some numbers please. Pesos preferred.

RENT (How nice for how much?)
Modern, clean, well kept building.
If near a beach or has a pool?
2-3 bed/ 1.5 - 2baths
If not near beach/no pool?
comments...

---------------------------
ELECTRIC
GAS
PHONE
INTERNET
SAT/CABLE TV
CLEANING LADY per day/ week?
---------------
ANNUAL CLOTHES
MONTHLY GROCERIES (2 PEOPLE)
EATING OUT nicelymodestly PER DINNER FOR TWO $____/$______
nicely/modestly PER LUNCH FOR 2 $____/$______
HOUSEHOLD SUPPLIES
-----------------------------
HEALTH INSURANCE (AGE 60) couple
-------------------
AUTO INSURE
AUTO MAINT
FUEL
---------------------------
AND FOR COMPARISON PURPOSES - AS MANY AS YOU CAN:
MOVIE TIX PER TICKET?
BASEBALL GAME 2 TIX, REFRESHMENTS for two?
THEATRE/CONCERT TIX PER TICKET
POPCORN LARGE BAG
VIDEO/DVD RENTAL PER NIGHT
ONE TIRE FOR A COMPACT CAR.
COST OF A PEPSI, OR COKE IN A 12/16 OZ BOTTLE?
HALF GALLON OF MILK
POUND OF HI QUALITY MEAT
CAN OF WHITE MEAT TUNA
PACKAGE OF COOKIES
CHICKEN BREASTS PER POUND

WHERE WOULD YOU CHOOSE TO LIVE FOR BEAUTY, SAFETY, PROXIMITY TO SEA AND NATURE, EX-PATS IN THE NEIGHBORHOOD?

THANKS FOR YOUR HELP.
 

tourjoy

New member
Mar 13, 2004
19
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Sorry, meant TRT how much do you live on?

Hi TRT,
How much do you live on? Is it comfortable or extremely tight?
Type of home/apartment and amenities?
Thanks