House Hunters International

kdeer

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Mar 28, 2006
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Last night on HGTV's House Hunters International it was all about buying property in the Dominican Republic. Although they only focused on Punta Cana it was a good show and really pushed the positives of living/working in the DR. It may be an old episode and I apologize if this has been mentioned before but it was new to me.
 

suarezn

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Feb 3, 2002
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Dang...I watch that show and was wondering if they were ever going to do one on The DR...

Did the people get a good "gringo" price?
 

kdeer

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Mar 28, 2006
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125k

The woman was from NY and paid $125K for a one bedroom - 900 sq ft. - no furniture condo in a new beach resort that is still under construction. I thought it was a little expensive.
 

hifiman

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Jul 13, 2005
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I thought the price was a little steep as well. The second property on the golf course I thought was a better deal.
All in all though she didn't do enough research before she committed to a place.
A very sugar coated dipiction of how to buy in the DR, but is was nice to see the DR getting good press.
Some would argue however on there fact that Punta Cana is the fastest growing area for real estate in the Carribean.
hifiman
 

kdeer

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Mar 28, 2006
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First Name

Not sure what the purchasers name was.

I thought the golf course condo was a better deal as well. They certainly didn't get into the ins and outs of buying in the DR but they never do on this show. I don't know if it is the fast growing area for residential real estate or not. Hoever from what I know and have read, it might be the fastest growing in terms of AI resorts, hotels etc. Maybe that's what they included.
 

kdeer

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Mar 28, 2006
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This Show is on again

This show is being shown again on the Canadian version of HGTV on Sunday Dec 3 at 4pm EST for any one who is interest.
 

aegap

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Mar 19, 2005
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Dominican Dream
Seeley Oliver is a hard-working businesswoman who needs an escape from the hustle and bustle of New York City. She wants a slice of paradise, so she is moving to the Caribbean. See if she can find her dream home in a secret tropical getaway, where the housing market is so hot that homes are sold before they are built. ..
 

Caren M.

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Jan 27, 2006
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She chose a condo in los corales. It is in el cortecito on a very nice stretch of beach. The apartment is small for the money but in a very comfortable area for expats. Los corales is pretty self contained with a couple of restaurants. For a single female it is a relatively safe place to live.
 

Tracy

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Jan 23, 2004
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I saw the episode several months ago. I tuned in mid way through and as soon as I saw the beach I knew exacly where it was before I heard them say Punta Cana. I usually stay right in that area.

Tracy
 

dominimom

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Dec 3, 2006
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Taxes are HIGH in the DR

I think the new tax increase on property taxes is going to slow down the growth of real estate in the DR, Now, if you have a property that is 5 million pesos or more (US$150,000) you have to pay 1% of the excess. So if your property is 6,600,000 pesos (US$200,000) you have to pay taxes on 1.6 million 1% of that is $16,000 pesos or $500.00. After the first of the year therer will be a tax increase instead of 1% it is going to be 2% that means
US$1,000/year for a US$200,000 property. Here in Denver I live in a $350,000 house and pay US$1,400/year. At least over here I see the results of my taxes by having good streets, security, cleanliness, education, etc. Over there one pays taxes to make rich the government officials.
 

d3ratch

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Apr 3, 2004
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It?s all about location location location.

I also saw the show and liked her final choice.

The second place near the golf course did look a little bigger and nice with all the furniture included in the price of $120k US.

I found that place to not have much ambiance - looking out at a golf course gave the feeling of sitting in the middle of a field, she did mentioned that it was very peaceful.

The second place was bigger and half the price of $60K. She found she would be overlooking rooftops and roads, she felt like she was back in NY.

She chose the beach villa because she could walk to restaurants and the beach in her bare feet;).

She chose this place because it had a Mediterranean look and feel, it really made her think she was in the Caribbean and not NY.

location location location
 

bhale

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Mar 1, 2004
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It's all relative. I just sold a house in Texas for $200K. It was valued at $160K by teax authority, an dmy yearly taxes were $4500. DR taxes look very good compared to that. Do you pay these taxes yearly or only once after the property is sold or changes hands?
 

Donald Hansberry

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Dec 31, 2006
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Hi everyone.. My name is Donnie and I'm a DC firefighter. I saw the same show and it make me interested in buying a home in the DR. If anyone has any tips on where the real deals are and where the best place on the DR ot buy please let me know. I was thinking of buying a condo...maybe 2 bedroom in a high rise with security. I am not wealthy so i would love to find something affordable. Looking forward to hearing you advise and I an going to search the site for any related posts
 
G

gary short

Guest
Hi everyone.. My name is Donnie and I'm a DC firefighter. I saw the same show and it make me interested in buying a home in the DR. If anyone has any tips on where the real deals are and where the best place on the DR ot buy please let me know. I was thinking of buying a condo...maybe 2 bedroom in a high rise with security. I am not wealthy so i would love to find something affordable. Looking forward to hearing you advise and I an going to search the site for any related posts

Check out the real estate section of DR1. You can also open up a bank account......deposit say 200k.....and hang out till a distress sale comes down the pike. Your bank manager will have a good handle on what you can purchase for 10 cents on the buck........blah.blah..blah........
 

CUZ

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Jan 10, 2004
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Hi everyone.. My name is Donnie and I'm a DC firefighter. I saw the same show and it make me interested in buying a home in the DR. If anyone has any tips on where the real deals are and where the best place on the DR ot buy please let me know. I was thinking of buying a condo...maybe 2 bedroom in a high rise with security. I am not wealthy so i would love to find something affordable. Looking forward to hearing you advise and I an going to search the site for any related posts

Donnie - I live in DC and am in the process of buying a condo in Cabarete. My wife and I lucked out on the DC real estate boom and are using that money.
This purchase comes after several years of research; I believe that DR1 is an excellent starting place. I would recommend against rushing in to this or any other market. That having been said, we're very pleased and excited about our choice.
Please feel free to contact me by EM or otherwise.
 

Donald Hansberry

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Dec 31, 2006
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Thanks for the help..... I would love to hear more about why you make your chose. And also I would love to see some pics. I was ready to jump into it at first but so many people have say take you time.
Thanks again for your help
Donnie
 

gorilladr

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Feb 1, 2007
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Donald, I would love to hear how far you have gotten into purchasing property in the DR. I saw the same show and it peaked my interest again. My husband and I visited there in 96 and loved every minute of it. If you have learned anything since you post, I'd love to hear from you.