House Hunting

halibu

New member
Apr 21, 2004
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After a lot of research and the generous help of a new friend I will be travelling to Puerto Plata from Toronto in early May to go house hunting or maybe apartment hunting. I want to rent my new place part of the time and use it myself as well.

I think I prefer Cabarete first and maybe Sosua second for a villa but I am looking for suggestions and info from people located there.
In March I spent some time in both places and each had its' strong points.

It would be great if I didn't need a car and could have a short walk to the supermarket and a short walk to restaurants and the ocean.

I know this is a very general type of question but any suggestions, advice or comments would be welcome from anyone living or owning there. Even the names of residential communities within a short walk of the town would be a great help.

Thanks in advance.

Halibu
 

Camden Tom

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Dec 1, 2002
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You will need to narrow it down a bit

The are a number of nice communities to choose from but the prices can range from under $100,000 to well over $1,000,000. Pick a price range and I'll make some suggestions.
 

Escott

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Jan 14, 2002
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www.escottinsosua.blogspot.com
I prefer Sosua to Cabarete to live in and hence I live there. I suggest you check out a condo since it is easier to manage because of the nature of the animal. I own 2 in El Neptuno in Sosua which I have renovated completely and am renovating 2 others for a friend which I will then do weekly to monthly rentals for as well as my 2.

I am in the process of purchasing 4 1000 m2 lots in Cabarete walking distance to the main beach. I will do something with these but wont be living there.

I have been sucessful in renting them out so far but this is only 8 months going. Check out my website for ideas on renting if you like and feel free to steal anything you want that belonged to me. Hell I stole a bunch of stuff from DR1 and I can't authorize you to steal that but what is not theirs you are welcome to.

http://dr1.com/directories/rental/dominican_condo_rental.shtml
 
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halibu

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Apr 21, 2004
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house hunting

Camden Tom said:
The are a number of nice communities to choose from but the prices can range from under $100,000 to well over $1,000,000. Pick a price range and I'll make some suggestions.


$100/150,000 is about right...thanks
 

Camden Tom

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Dec 1, 2002
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In that price range....

........I would suggest checking out the Casa Linda neighborhood. A cute, quaint gated neighborhood. 2 and 3 bedroom homes on small lots, each with a swimming pool. It is located just off the main road between Sosua and Cabarete. There are several DR1er's that own in that development.
 

halibu

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Apr 21, 2004
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house hunting

Thanks very much.

I have see their website and been by there but wondered if there was something closer to Sosua or Cabarete that was a comfortable walk to a supermarket, restaurants and the ocean ?
 

Camden Tom

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Dec 1, 2002
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I'm not sure what Escott plans to do........

....with the Cabarete lots he's purchasing. They are as convienient to town, beach, market, rest. as can be. Maybe he could build something for you. If I see something else that looks appealing, I'll let you know.
 

Ken

Platinum
Jan 1, 2002
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Take a look at El Neptuno when you visit Sosua. I live there for a number of reasons, not the least being it is located right in town and within easy walking distance of the supermarkets and other services. It is located in an upscale neighborhood, apartments are about 1300 sq ft with two bedrooms and two full baths plus a balcony with view of the sea. There is one apartment that has been recently redecorated and on the second floor that is available for $100,000.
 

halibu

New member
Apr 21, 2004
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house hunting

Ken said:
Take a look at El Neptuno when you visit Sosua. I live there for a number of reasons, not the least being it is located right in town and within easy walking distance of the supermarkets and other services. It is located in an upscale neighborhood, apartments are about 1300 sq ft with two bedrooms and two full baths plus a balcony with view of the sea. There is one apartment that has been recently redecorated and on the second floor that is available for $100,000.

I have seen El Neptuno on several rental sites and walked by it as well. Will definitely check it out. Does anyone know about a place called Pro Cab in Cabarete? It has been suggested I look there for a villa.
 

Jayford

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Feb 20, 2004
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Pro cab

Pro Cab is back, away from the beach. Lots of locals that work in Cabarete live there. Its quiet, and close enough to walk to the center, but many people opt for a bike instead to save a few minutes.

I have heard that it floods there quite often though.

I am moving to Cabarete myself on May 15th, but just renting as this won't be permanent for me. A year or two max.

Jay
 

halibu

New member
Apr 21, 2004
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house hunting

Thanks to all for the very helpful information. :)

This is the first "billboard" I have ever used so if my manners
are bad please forgive me.

Any more info I can gather before leaving the end of next week
will be wonderful. I have a meeting with a lawyer and real estate
set up on the first business day of my trip so the wheels are in motion.

This is the second time someone has mentioned flooding in ProCab.
I have met someone on line who owns there so will check with them as well.

I may want something built for me down the road but for now I am looking
for an income property that I can use as well.

Again....many thanks to all.

Halibu
 

Escott

Gold
Jan 14, 2002
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www.escottinsosua.blogspot.com
A lot of the land across the main road from the beach is "Wet". Be careful and go after a heavy rain to see what you are in for. The positive thing is that filling a low lying lot is a lot less expensive than in the states.


Scott
 

Camden Tom

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Dec 1, 2002
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A friend of mine.....

....is going to start building a 2 BR, 2 bath house with a swimming pool in ProCab next month. He anticipates about 6 months to complete. He plans on selling it for in the $110K to $115K range when it is completed. If you would like additional info, send me your e-mail address and I'll put you in touch with him.
 

halibu

New member
Apr 21, 2004
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Camden Tom said:
....is going to start building a 2 BR, 2 bath house with a swimming pool in ProCab next month. He anticipates about 6 months to complete. He plans on selling it for in the $110K to $115K range when it is completed. If you would like additional info, send me your e-mail address and I'll put you in touch with him.

Thanks Tom,

I plan on doing something almost immediately for investment reasons but in a few months, who knows. I will keep in touch..thanks !
 

ecarignan

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Jan 9, 2003
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www.commtech.ca
halibu,

Before you "invest" money in real estate on the north coast, you should not think renting a property is a steady supply of income. Very very few live off renting or actually even make money renting. If you plan on using it for getting away on vacation, it's the right idea and try to cover off the fixed monthly expenses (ie. electicity, monthly fees, water, etc..) with the rentals, that's the right way to think.

Most people I know just rent to cover those monthly fees but use the villa/condo mostly for personnal use for enjoying the carribean.

Again, investing in RE is not a sure way of income in my opinion. If you plan on making money renting, I would suggest you talk to a lot of owners out there.

Good luck and use the right people, their names are all over this site.

ecarignan
 

radekcaba

New member
Dec 3, 2002
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And where is the problem with renting out villa/condo as a supply of income? Low rent vs high monthly fees and utilities or lack of interest from tourists? I'm thinking about opening small B&B...Thanks.
ecarignan said:
halibu,


Before you "invest" money in real estate on the north coast, you should not think renting a property is a steady supply of income. Very very few live off renting or actually even make money renting. If you plan on using it for getting away on vacation, it's the right idea and try to cover off the fixed monthly expenses (ie. electicity, monthly fees, water, etc..) with the rentals, that's the right way to think.

Most people I know just rent to cover those monthly fees but use the villa/condo mostly for personnal use for enjoying the carribean.

Again, investing in RE is not a sure way of income in my opinion. If you plan on making money renting, I would suggest you talk to a lot of owners out there.

Good luck and use the right people, their names are all over this site.

ecarignan
 

Criss Colon

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Jan 2, 2002
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yahoomail.com
Send a "PM" to "Escott" who does what you want to do.

And to "Eddy" at condominiosdominicanos,who manages some large properties!Talk to two experts! They will tell you the good,the bad,and the ugly about renting!
I like the "B&B" idea! I have been toying with building two units on my property in Santo Domingo.I would cater to short term business travelers,or tourists who wanted a base of operationd in Santo Domingo!My wife could drive them anywhere they wanted to go.Good Luck! and be careful! "Lying" is the National Sport in the DR!CC and that includes Ex-pats living here too!'Not All" as my wife reminds me ALL THE TIME!!CCCCCCCCCCCCCCC
 

Simon & Nicky

Bronze
Feb 3, 2004
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www.simon-hall.co.uk
Renting out

Having just bought a house that was used for a few years' for rental; watch out for damage and wear and tear. Not one substantial item of furniture was unblemished in some way and most was simply broken! I'd give your furntiture a couple of years' max before it's either knackered or wandered off somehow. Bear this in mind when trying to establish your profit margin.