Hello all,
I would like to build a small bedroom on the second story of my house in DR. I checked the prices of construction materials last year, in the summer time (the exchange rate was about 45:1) . But I could not proceed to buy them at the time. Now I've been checking and it seems that prices are about 40% more than last year! Well, the exchange is so low now, around 27:1, and with the prices in pesos the same, and even higher than last year!
My question is, should I wait to see if this crazy disparity in the exchange rate normalizes, or should I just go ahead and buy the materials? I fear that if I wait longer, the prices will continue to climb and the dollar would stay the same. The prices of all the construction materials comes up to about 20,000 DR pesos (more than US $700) without labor. I think I could have bought the same stuff last year for about $500 US.
I would greatly appreciate the expert advice of those of you who live there and have done construction work recently.
Thank you so much!
Corleto
I would like to build a small bedroom on the second story of my house in DR. I checked the prices of construction materials last year, in the summer time (the exchange rate was about 45:1) . But I could not proceed to buy them at the time. Now I've been checking and it seems that prices are about 40% more than last year! Well, the exchange is so low now, around 27:1, and with the prices in pesos the same, and even higher than last year!
My question is, should I wait to see if this crazy disparity in the exchange rate normalizes, or should I just go ahead and buy the materials? I fear that if I wait longer, the prices will continue to climb and the dollar would stay the same. The prices of all the construction materials comes up to about 20,000 DR pesos (more than US $700) without labor. I think I could have bought the same stuff last year for about $500 US.
I would greatly appreciate the expert advice of those of you who live there and have done construction work recently.
Thank you so much!
Corleto