What Kind Of Budget To Live In The Dominican Republic

shinobi16

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Mar 21, 2005
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I'm planning on moving to the D.R. with my family (wife and daughter in high school) but need some advise on a realistic budget so that we could have an idea as to what to expect. Let me start by giving you some information about what we have and want. We'll bring about $200,000 dollars in cash, my wife gets permanent social security disability benefits of about $1,600 dollars a month until my daughter reaches her 18th birthday (4 more years). Then the benefits drop to about $1,200 dollars a month. I will like to find work there until my US pension kicks in (9 more years). Then we'll have an additional $2,000 a month. We we'll like to rent in Santo Domingo for approx. 1 year, bring my 2001 car to the country, and maybe buy a used car there for my wife. Will also like to send my daughter to a private high school. So, we're looking to rent a 3 bedroom apartment in a nice area until we decide to buy a house. My wife is Dominican and a US citizen, I'm fluent in English and Spanish since I was born in Puerto Rico and raised in the US mainland. My questions are: Can we make it based on the income figures given? What should we do with the $200,000 dollars in cash? What kind of lifestyle should we expect? We really love the country and are ready for the big jump. All your advice and comments are welcome. Thanks. I almost forgot, what about medical insurance for me and my family?
 
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Castellamonte

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Mar 3, 2005
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The DR is still cheaper than here!

Of course not everything is cheaper. First thing, never tell anyone how much money you have or I guarantee you will have less the next time you tell someone. Same goes for here in the U.S., BTW.

Once you have a house and car, I think an annual budget of USD $75K would keep you in fine form. This includes heading back to the US a couple of times per year.
 

shinobi16

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Mar 21, 2005
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Castellamonte said:
Of course not everything is cheaper. First thing, never tell anyone how much money you have or I guarantee you will have less the next time you tell someone. Same goes for here in the U.S., BTW.

Once you have a house and car, I think an annual budget of USD $75K would keep you in fine form. This includes heading back to the US a couple of times per year.

A budget of $75K dollars a year? Don't you think that's kind of high? How am I going to do that? There's a lot of people here in the US that live on less.
 

Voyager

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Mar 1, 2004
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Hello "shinobi16"!

Maybe you should have a peek at my own thread called "Budget for relocation and then...living!? " I received a lot of excellent advise in that thread. Much of that advise is applicable also for your situation.

About the US$75k and your comment that a lot of people in the US live on less... Well, I have thoroughly learned by now that :

1) It depends on what you mean by "live"?
2) Who said that living in DR would be cheap? Is that why you move there?
3) Cost of living is totally depending on your lifestyle. I know this is an obvious remark, but it helps to keep in mind when you listen to advise from people.

You ask what kind of lifestye you should expect? I think you should turn the question around and ask what kind of lifestyle you require!

About medical insurance, have a look at my own thread about getting old in Dominican Republic.

/John

PS. By the way, I am constantly amazed at how rich people in the US are!!! To save and be able to bring US$200,000 in cash is totally impossible for most people living in my native country = Sweden. When my father died, his lifetime savings was equal to US$18,000. But on dr1, I read time and again about US citizens bringing hundreds of thousands of dollars!!! My God! I am really jealous... It is obvious that I was born in the wrong country!
 

shinobi16

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Mar 21, 2005
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Voyager said:
Hello "shinobi16"!

Maybe you should have a peek at my own thread called "Budget for relocation and then...living!? " I received a lot of excellent advise in that thread. Much of that advise is applicable also for your situation.

About the US$75k and your comment that a lot of people in the US live on less... Well, I have thoroughly learned by now that :

1) It depends on what you mean by "live"?
2) Who said that living in DR would be cheap? Is that why you move there?
3) Cost of living is totally depending on your lifestyle. I know this is an obvious remark, but it helps to keep in mind when you listen to advise from people.

You ask what kind of lifestye you should expect? I think you should turn the question around and ask what kind of lifestyle you require!

About medical insurance, have a look at my own thread about getting old in Dominican Republic.

/John

PS. By the way, I am constantly amazed at how rich people in the US are!!! To save and be able to bring US$200,000 in cash is totally impossible for most people living in my native country = Sweden. When my father died, his lifetime savings was equal to US$18,000. But on dr1, I read time and again about US citizens bringing hundreds of thousands of dollars!!! My God! I am really jealous... It is obvious that I was born in the wrong country!

Thanks for the info. VOYAGER. It's not that we're rich, we just had the luck to buy our houses in a down real estate market and now are able to sell them in a great sellers market. Houses that were purchased for $130,000K are now selling for around $400,000K. A little bit of luck and LOCATION, LOCATION, LOCATION.
 

suarezn

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Feb 3, 2002
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Shinobi16: Don't pay attention to this crap you hear about needing 75k USD a year to live in The DR. Let's see 75000/12=6250 *28 = 175,000 pesos a month. That's ridiculous...You don't need half that much to live a decent life in The DR. Of course you could probably spend that much in The DR (or anywhere for that matter) if you so desired.

Let me put it to this way...most people who make about 50k pesos a month live very nicely...as a matter of fact I know quite a few people who make a lot less than that and still live a pretty nice life.

This topic has been discussed here ad nauseam...do a search and you shoudl find plenty of information. Look for a thread from a guy called Timex...he gives real examples of what things really cost (at least at the time).

With your wife being Dominican and you knowing spanish you should be able to negotiate good prices and not gringo prices which should save you quite a bit.
 

miguel

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Jul 2, 2003
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So true, suarezn

shinobi16, I am with suarezn on this one.

Tell us what type of lifestyle are you willing to live. Are you a big spender?. Do you want to go out and eat to the finest restaurants all the time?. Do you want to live the high life or are you a humble person that would not mind to live a modest life?. Are you going to have "hangers-on" that you will pay their ways also?. Are you going to entertain your wife's family and friends all the time?.

As I have said many times, some people in the DR have managed to live very nicely with much less than 25,000 pesos a month. Crap, I know people in the DR that have been 'making it" with much les than 15,000 pesos. BUTTT

In order for us to be able to help you a little, tell us how is your lifestyle.

Don't be afraid with the other posts. I believe that they made a mistake when they said 75,000 dollars a year.
 

shinobi16

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Mar 21, 2005
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miguel said:
shinobi16, I am with suarezn on this one.

Tell us what type of lifestyle are you willing to live. Are you a big spender?. Do you want to go out and eat to the finest restaurants all the time?. Do you want to live the high life or are you a humble person that would not mind to live a modest life?. Are you going to have "hangers-on" that you will pay their ways also?. Are you going to entertain your wife's family and friends all the time?.

As I have said many times, some people in the DR have managed to live very nicely with much less than 25,000 pesos a month. Crap, I know people in the DR that have been 'making it" with much les than 15,000 pesos. BUTTT

In order for us to be able to help you a little, tell us how is your lifestyle.

Don't be afraid with the other posts. I believe that they made a mistake when they said 75,000 dollars a year.

I was really surprised when I saw the $75,000 figure. Hell, a lot of people live a confortable live here in the US on those numbers. We are not big spenders, very humble family, don't go out to clubs or expensive restaurants, we prefer the local food. Eat out maybe twice a week. No family or friends to entertain. Will like to have a maid and our #1 priority is our daughter's education. My passion is gardening but will like to rent before deciding where to buy, so for now I don't have to worry about that. A round of golf maybe twice a week and a membership to a gym is important to us. Where should I invest the cash till I decide to buy a house?
 
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miguel

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Ok!

shinobi16 said:
I was really surprised when I saw the $75,000 figure. Hell, a lot of people live a confortable live here in the US on those numbers. We are not big spenders, don't go out to clubs or expensive restaurants, we prefer the local food. Eat out maybe twice a week. No family or friends to entertain. Will like to have a maid and our #1 priority is our daughter's education. My passion is gardening but will like to rent before deciding where to buy, so for now I don't have to worry about that. A round of golf maybe twice a week and a membership to a gym is important to us.
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.
 

shinobi16

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Mar 21, 2005
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miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars a month. Sorry, but my computer screwed up and the same reply was posted more than once.
 
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shinobi16

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Mar 21, 2005
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miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars a month.
 

shinobi16

New member
Mar 21, 2005
29
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0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 

shinobi16

New member
Mar 21, 2005
29
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0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 

shinobi16

New member
Mar 21, 2005
29
0
0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 

shinobi16

New member
Mar 21, 2005
29
0
0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 
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shinobi16

New member
Mar 21, 2005
29
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0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 

shinobi16

New member
Mar 21, 2005
29
0
0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 

shinobi16

New member
Mar 21, 2005
29
0
0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.
 

shinobi16

New member
Mar 21, 2005
29
0
0
miguel said:
I will only tell you of what I know since I do not live in the DR.

I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.

I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.

Your biggest expense will be your daughter's schooling and buying a car.

Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.

Monthly budget will be around $3,800 dollars.