Article saying DR a good place to buy property

J

ju10prd

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Nov 19, 2014
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IMO you should get to know the place and fair land costs........buy land where you want to your ideal home and build yourself.

Warning:Land costs on North Coast and Samana are grossly inflated right now imo.

Advice: Build costs here in DR are great value if you understand the building business. Budget build cost at 100sf for something decent unless you fancy some special fixtures and fittings.
 
C

chic

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Nov 20, 2013
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imo...buying here is foolish unless you are almost the same as dominicans...do you have 2-6 children? if you can afford to buy and walk away...well thats that...there is no turn around here...buy a house for 200k live there spend all that extra money $ furn, upkeep bills etc.. stay 8 weeks a year. come and go for 4 years...now you want to sell... well better pay someone to live there...pay the water and lights..taxes etc...and have an outgoing expense of 6k$us yr...for not going....then u need painting, sell the minivan...4x4 etc...better to give it all to the kids....forget selling.... now divide all your outgo into renting a villa 4 x for a month and see how you do...probaly up 160$k dollars..maybe more with the vehicles...
i buy...what u got to sell......
 
O

ohmmmm

Bronze
Jun 11, 2010
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I was recently talking with real estate people, over the past couple years the lower priced homes are selling (under $140k) but the higher priced homes are not. It also depends on location. Properties in secured expat subdivisions or by the ocean usually have greater interest. I never had a problem with my lawyers, but then I used an established firm, Guzman. Using a good lawyer and making sure there are no hidden costs like unpaid electrical bills is important.
 
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LTSteve

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Jul 9, 2010
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Matilda said:
5 Of The World's Best Places To Buy A Second Home In The Sun*|*Kathleen Peddicord

Matilda
Click to expand...

Yes, it is a buyers market with many properties available. If you plan on buying for the long term to either use the property yourself or rent it out than I would suggest the investment. There are very few in any short term payoffs in real estate in the DR. If you are financially set than yes it is a good place to live. Just remember when buying a property that security concerns are a top priority. If you live in NA than the DR is ideally located for air flights and the Winter weather is ideal.
 
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Camden Tom

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Dec 1, 2002
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These kind of threads come up all the time. Cracks me up. I will be down at the end of the month for my 14th closing over the past 12 years. Real estate on the north coast can be a fabulous investment if you take the time to study the market. Or, you can loose your a$$ if you are an idiot...just like the stock market, the commodities market or any other investment. Never bought anything that didn't didn't sell and make a tidy or impressive profit. If you are willing to do your homework, you can do well in real estate in the DR. If your eyes light up at the first pretty property you see...stay away.
 
malko

malko

Campesino !! :)
Jan 12, 2013
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Absolutly no idea on real estate market in the dr or elsewhere......
Onlything I can say is that my wife bought a house ( like 3 bedrooms, 3 bathroom type ) in santiago ( maybe in the beginning of the century, we didnt know each other ), sold it a couple of years later ( 4 or 5 ), for like umpteen times the price she bought it.
With that money she built a huge house in her childhood campo ( we still didnt know each other then ), far too big if u ask me ( 6 bedrooms, 6 bathrooms, ........) but also an appartment across the road ( to vacation in and supervise the construction of the house) and 3 small rooms to let underneath.
So perhaps things have changed, but seems prices were always on the rise a couple of years ago.

Oh and also, people stop on the road, out of nowhere and ask across the road ( I rarely answer the door bell, out of house, tie dogs up, back to house answer interphone, buzz gate open..... too much stress:devious: ) if the house is for sale, which it is not. Foreigners, but also dominicans....... go figure.
And this is right in the middle of nowhere. No supermarkets, no restaurants, no cinema, no electicity ( or not very often ), road full of bumps, a long long drive to the first fast food joint..........
 
C

chic

Silver
Nov 20, 2013
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if you buy here with company money...it is a great deal...20 yrs down the road the company writes the investment off as a loss and u are holding it...a winner...
 
R

rfp

Gold
Jul 5, 2010
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I am very happy with my investment made 11 years ago. If you buy in Pesos at the right time and in the right location you can do very well. There are always people trying to unload quickly so if you are patient and the peso is right deals can be had.
 
bob saunders

bob saunders

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Jan 1, 2002
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Camden Tom said:
By the way, if you don't buy during a "buyers market" ...when exactly should you buy?
Click to expand...

LOL, For a few years while I was with the Military in Canada it seemed they would always post us when the market was down where I was living and up where I was posted to, but on my last two postings before I got out it was buy low and sell high. The DR real estate market is certainly a little different but it comes down to basically the same things - location, curb appeal and price. If you have all three you'll sell.
 
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