Why we want to buy on Samana- Feed-back please!

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susan77

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Jan 19, 2008
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I have spent HOURS reading this board (it's downright addictive!) and feel ready to share our "dream" and invite your input/advice/caveats --I hope many of you remember when you were at this stage- :)

My husband and I live in Louisville, Kentucky (USA) and almost bought property last month in Bocas del Toro, Panama-- But we realized we'd missed the bargains by about 4 years, so back to the drawing board-

We have $100K losing value in a 401K (that's an American tax-deferred savings plan) so my idea is we buy property where we'd like to spend time each winter until we 're able to retire in abt 5 years-- We'd rent it while not here and (hopefully) it would gain more value than the 401K!

InternationalLiving.com says the Samana peninsula is a great value and the completed highway will raise property values-

We're very laid-back people--like to swim, hike, snorkle, ride horses, and have good conversation over a bottle of wine (me) or imported beer (the hubby)-- So we want to live where there are plenty of friendly ex-pats and local people to get to know--

We willl be in Las Terrenas Feb 11-17 and while there, we'll look for the villa, condo or apt that is CLOSEST to the beach--

We may also check-out Cabrete as that seems to have some inexpensive properties---

I would love your feed-back to these plans and maybe several of us can meet for drinks while we're there??

Muchas gracias-
Susan and Steve
 
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suarezn

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Feb 3, 2002
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My advice would be the same advice we give everyone who wants to buy before knowing much about the country...before you jump in go a spend some time down there. Rent first. See if it is for you and only then commit to buy. Buying is easy, selling is not (it takes a long time or you may have to sell it for a low price to get rid of the property).

BTW Love Louisville. Worked in Bardstown for almost a year and would come up to Louisville regularly to go to restaurants, etc...

Good luck...
 
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Lambada

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Mar 4, 2004
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Fully supporting suarezn's advice. Rent first. You also will need longer than a week to get the feel of things. I suppose InternationalLiving.com also said Cabarete was inexpensive, did they? :ermm: Inexpensive isn't a word I'd apply to Cabarete, personally. Were you expecting something close to the beach for US$100,000? Might need to revise that figure, a tad, but I'll defer to those more knowledgeable about RE than me.
 
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pennyman

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Jan 25, 2008
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We are in a similar boat as Susan. We saw an episode of "Houser Hunter International" where they showed about Punta Cana Real Estate. We got interested in DR and through various internet searches found this wonderful forum. I have also read pretty much all the posts in the Real Estate Section in the last couple of days.

From what I have researched so far, Punta Cana is full of All Inclusive Resorts so may not be a good option to buy a Villa/Condo there. May have a very tough time trying to rent it out in Punta Cana.

How does Samana Peninsula compare with Sosua/Cabarete Area in terms of real estate prices and overall infrastructure. I believe Sosua area is more accessible being near the POP airport.

Out budget is about $200 - $250 k and we are looking for a Villa that is close(er) to the beach in a gated community in the North Coast Area (sosua/Cabarete or Samana Peninsula). Based upon the research we plan to finalize our trip to the area.

Any advise/pointers will be appreciated.

Thanks
vimal
 
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mountainfrog

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Dec 8, 2003
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The Saman? Dream?

The new 'El Catey' airport is only about 30 km from Las Terrenas.
Beach property in certain places sells at 140 US$/sq.m (!!) which IMHO is ridiculously overpriced given the present infrastructure and security situation.
There are certain factors which call for a large plot which can only be afforded by few.
I have seen a trend for buying land further up the hills where there is less pollution, less noise and cooler temperatures.
And then: Beach properties do have their disadvantages. I for one would not want to live 'down there'..... :lick:

m'frog
 
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cherie36

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Oct 16, 2007
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I agree with the 'rent first' recommendation. In the Samana peninsula you will not find many Americans. Mainly Europeans. I do not recommend Sosua, high crime. Cabrera is good, thought most properties will be ocean view, not ocean front. The Samana peninsula is beautiful and relatively unspoiled. Las Terrenas is probably the most expensive, most beautiful and sophisticated it being well populated by Europeans.
 
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BushBaby

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Jan 1, 2002
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pennyman said:
We are in a similar boat as Susan. We saw an episode of "Houser Hunter International" where they showed about Punta Cana Real Estate. We got interested in DR and through various internet searches found this wonderful forum. I have also read pretty much all the posts in the Real Estate Section in the last couple of days.vimal
Click to expand...
Might I seriously recommend that you also read & study the LEGAL forum. This has many of the BAD RE experiences people have suffered when moving here! Then there is the LIVING forum, the DR DEBATES forum ............... all of which will give you a slightly more overview of the country which some of us love - MANY hate!!

Do a search (if you haven't already done do) on keywords like 'Moving to the DR', 'Relocating', 'Crime in the DR', 'Drugs in the DR' ............. anything that will give the side of the DR which NEVER comes up in an International Living SALES article/program!!

As has been stated many times befor "This ain't Kansas Dorothy" & you need to be aware of the country's shortfalls as well as the many pleasures it can offer ........ if you want to experience & accept them that is! ~ Grahame.
 
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retiree

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Jan 18, 2008
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choosing a location

An important factor for us was the proximity of good medical care. We live in the Sosua area, have never had a problem with crime and are glad we are a short distance to a hospital (in Puerto Plata) big enough to deal with an emergency.
 
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Fernandez

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Jan 4, 2002
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word of caution.
the police chief of Las Terrenas was caught robbing private residences.
good luck.
 
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SamanaJon

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Jun 20, 2007
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You may find that $100K USD wont buy much here in the Samana/Las galeras/Las Terrenas area. You may however find some unimproved land that may fit the bill. Just remember 1 week will not allow you the time to look at much property here. Please be very careful buying anything on the Samana penninsula, as many properties do not have a clear title or have a fake title. Step very carefully. It is truely beautiful, as they say it is,... as I am writing this, I am looking at a couple of whales about 250 meter off my coastline.. have fun... enjoy life
 
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Fernandez

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Jan 4, 2002
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the news is not recent, and unfortunately very true.
you might want to check into the Listin Diario articles - back about 3 months more or less. My dealer in Las Terrenas knew him well - amazing, but true
 
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pennyman

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Jan 25, 2008
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Any recommendations for developments that are selling land/villas/condos in Samana Area in this price range.
 
Squat

Squat

Tropical geek in Las Terrenas
Jan 1, 2002
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Fernandez said:
the news is not recent, and unfortunately very true.
you might want to check into the Listin Diario articles - back about 3 months more or less. My dealer in Las Terrenas knew him well - amazing, but true
Click to expand...
How strange that the news wasn't made public to us (people from Las Terrenas), or at least rumor spread over the internet...
But you might be referring to the case of those 2 thieves wearing police uniform while breaking in "Pino de Austria", in may 2007... The tall skinny one is dead now, and as of the chubby one, I don't know what happened to him...
Don't hesitate to post more here if you have anything...
 
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DavidZ

Silver
Aug 29, 2005
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pennyman said:
We are in a similar boat as Susan. We saw an episode of "Houser Hunter International" where they showed about Punta Cana Real Estate. We got interested in DR and through various internet searches found this wonderful forum. I have also read pretty much all the posts in the Real Estate Section in the last couple of days.

From what I have researched so far, Punta Cana is full of All Inclusive Resorts so may not be a good option to buy a Villa/Condo there. May have a very tough time trying to rent it out in Punta Cana.

How does Samana Peninsula compare with Sosua/Cabarete Area in terms of real estate prices and overall infrastructure. I believe Sosua area is more accessible being near the POP airport.

Out budget is about $200 - $250 k and we are looking for a Villa that is close(er) to the beach in a gated community in the North Coast Area (sosua/Cabarete or Samana Peninsula). Based upon the research we plan to finalize our trip to the area.

Any advise/pointers will be appreciated.

Thanks
vimal
Click to expand...

You can definitely find several nice options in that price range in the Sosua-Cabarete area. This area is (at least currently) much more accessible and advanced as far as infrastructure, compared to the Samana area.

Some suggestions to look into:

Residencial Casa Linda
Residencial Hispaniola
Perla Marina
Panorama Village (may be a bit over the price range)
Costa Azul
Pro Cab
(the last two are gated, but not as "secure" as the other 4)

I'd Contact Curt Erickson from DR1 for more info...
Email: curt@dr1.com
 
Hillbilly

Hillbilly

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Jan 1, 2002
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retiree: You are joking, right?? A hospital>?? in POP>??? yeah, right.

For an emergency you have to go to a good clinic, maybe Bournigal, in POP. If it is serious, you must go to Santiago, if you want good care. Either Centro Medico Cibao, Clinica Corominas or Union Medica will do, and in a few more months HOMS will be up fully, and supposedly will offer Medicare assistance.

The Limardo Hospital in POP in NOT your option beyond sewing up a knife cut...

To all the other posters....250,000 US$ won't cut it onthe NORTH SHORE gated communities. 4X that maybe will get you in a gated community like Sea Horse. Don't know about the others.

While Punta Cana is mostly AI hotels, there are apartments for sale. You can PM me for some info, I do not pretend to be an expert on this.

Cap Cana is certainly a place to go on the long term. Just drop-dead beautiful place, with an outta sight golf course.

The repeated suggestion to rent for a couple of months or more is to be well taken. This is a curious place and it does take some time to know it.
That is so you don't wake up some morning and think "Oh sh!t! I didn't know that!" (Or worse!!!!)

Take your time....the rest of your happy life might depend on it..

HB
 
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BushBaby

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Jan 1, 2002
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Hillbilly said:
Cap Cana is certainly a place to go on the long term. Just drop-dead beautiful place, with an outta sight golf course.
Click to expand...
"Oh sh!t! I didn't know that!"
Wish I could find someone to take me down there for a weekend!!!! (hint/hint!!)

Hillbilly said:
This is a curious place and it does take some time to know it.
Click to expand...
Now ain't THAT the truth!

Hillbilly said:
That is so you don't wake up some morning and think "Oh sh!t! I didn't know that!" (Or worse!!!!)

Take your time....the rest of your happy life might depend on it..

HB
Click to expand...
Amen to that. ~ Grahame.
 
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