Buying homes in Dominican

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Cathy

Guest
I am wanting to purchase a cute home in DR but the prices are outrages does anyone know where or how I can purchase a home at a
resonable price besides going through the real estate is so overly priced Thanks for any info

Cathy Canada.
 
C

Cathy

Guest
Re: Cathy >What price range did you have in mind?

I should not have assumed that the prices would be cheap there
considering that the DR is a poor country I was hoping to spend
Under 40,000.00 of course i do not expect a mansion at that price
but I dont understand how the locals do it considering they only
make approx $5.00 a day and school teachers there only make about
$80.00 a year. I don,t understant how they could buy a house at
that wage. I also believe that if you are a tourist than they
jack up the prices because they all think we are rich and if you
happen to be a local there than they don,t expect to get to much
out of you. Cathy
 
A

angela

Guest
I own a home in Azua. I live now in Miami and want to sell it. It is in Sabana Yegua, Azua. This is the South West . It is about one and a half hour from the capital. It is a relatively small town of 15,000. The house is of concrete, has three bedrooms and one bathroom, a water cistern, living, dining and a small kitchen. If you are interested e mail me. The price would be much lower than in the north part of the country. By the way it is about ll km from the ocean.
 
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A Gringo

Guest
Re: Cathy >What price range did you have in mind?

Cathy....I assume by (Huntsville) you are from Canada...
Your $40.000 Canadian is now worth $26.000 US

I have lots for sale in Puerto Plata from $20.000 US and up...

Prices for mid range houses in the new developments here in Pto.Pta. range from 1.000.000 Pesos up or aprox. $100.000 Canadian.( small 3 bedroom house)

If you can get the developer to take back a first mortgage you are looking at between 28% to 35% interest..

Now ....What I would do if I were you is put my $40.000 Canadian in the bank down here and collect yourself a cool 18% interest!

I would rent myself a very nice 3 bedroom large home for $ 500 a month Canadian...and in the meantime you will still have your $40.000 in the bank! ( and the Interest will pay your rent )

Now after a year or two you find that you love this Island like I do.You buy yourself a nice lot and build your dream home for much less money!

Good Luck
 
C

Cathy

Guest
How much are you selling your house for? Is it a lease or own deal? Why did you move?

Cathy in Canada
 
C

Cathy

Guest
Re: Cathy >What price range did you have in mind?

How do the locals afford houses at there wages?

Cathy from Canada
 
S

Sylviane Mora

Guest
Yes there are reasonably priced homes in the DR. You must look in the already built and owned condos in condo-hotels.
If you are interested in a small apartment in Playa Dorada, please e-mail me at: simwhaley@sympatico.ca or have a look at:
<A HREF="http://www3.sympatico.ca/simwhaley/Condo-golf.htm">http://www3.sympatico.ca/simwhaley/Condo-golf.htm</A>
 
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William Leslie

Guest
Re: Cathy >What price range did you have in mind?

The 90% who are poor can not afford what you are used to living in. They will live in a house with 2 bedrooms, kitchen, living/eating area that is approx. the size of your living/ kitchen area . I know family relatives of my wife are about to buid their home and have calculated they can afford RD$70,000.(for which they have saved many years and have a loan advanced from his employer, a gringo, for almost 1/2) which will buy them a 200m2 lot (approx. 32feet x 64 feet) which will have on it their house (they will build of cement block and wood framing as a roof with a zinc or asbestos corrugated surface..very hot when the sun is shining but it is on about 90% of the homes not of the middle to upper class) a small garden and a setback from the street of about 6 feet.They will have neighbours on both sides and the back with setbacks of only 2 to 5 feet from the property line.
Yes you can afford this home coming from Canada BUT you probably can not adapt nor do you want to after having the "comforts of home" as they say, to that style of living. Therefore you will opt for a larger house something like you are used to, with a larger yard and a space back from the neighbours and since there are really no zoning laws and you could have now or in the future (and probably will have) a mini market run from the house(s) next door which also house a few roosters which you will find crow ANY time during the night not just at dawn, or a bar, disco or tire changing shop all of which will play different loud music stations at the same time you may opt to live on a residential area more like you are used to in Canada and you will find that voila the price has changed and your neighbours are wealthier Dominicans or foreigners and the prices are now CDN $100,000. and up. The problem being is of coarse that you are now living above the means of most Dominicans and are out of place or are you?
Of coarse if you decide to live in a gated community put on quite a few more thousands.
 
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William Leslie

Guest
Re: I meant to add.

I meant to add that maybe Roberto can give you some more insight into this as he lives in an area where he sees the life style of both foreigners and locals poor and wealthier.
 
D

DR-Defender

Guest
Re: Cathy >I must be confused.....?

I don't know if its just me but I don't seem to believe that a school teacher or even a dog could survive with $80.00 a year! This of course has to be wrong. Lets calculate a little here:
DR $15 x U.S $80.00 equals DR $1200. Now, that means that they make approximately DR $3.2 a day??? Come on, I know that my country is poor but don't over do it now! That's just a little bit extreme, don't you think?

Excuse me if I sounded a little outraged but I had to express myself. No hard feelings, ofcourse.

Always,
DR-Defender
 
A

angela

Guest
I am a dominican physician. I practiced in Azua for 6 to 7 years. All along I had my permanent resident status in the U.S. which I was going to give up since I loved the work I did in Azua so much. I worked for a catholic mission. I married and had a child. The pregnancy was complicated and my son has brain damage. It is not very severe so that he is able to walk, talk, dress himself, read etc. but he requires special education, medications had not worked for some of the more severe symptoms and he is currently in an experimental drug which is working wonderfully. We tried to get help for him in the DR, but the resources just did not exist. His life would had been miserable all around. He would not had been able to reach his full potential. He is now thirteen and I have been back in the U.S. for ten years. All along we thought we might go back. We will not be going back. We are established now. My son will be able to have a life with dignity. We are selling the house for $10,000 US Dollars. It is not a shack. It is not a mansion. It is a simple house. This is a town built by the government and all the houses used to look alike. Now those with more money have made alterations. The neighbors are simple, hardworking people. This is not a city. My suggestion is that you go and see the house. This is not a tourist town. The new government is going to invest money in this province so there will be an economic boom. I am selling the house. We have loaned the house to friends waiting to decide what to do. They are in the process of moving. We have a friend there in charge of looking after the house. This was long hum
 
J

Joseph McCarthy

Guest
Supply and Demand

Well you have to understand that real estate is about supply and demand and what someone is willing to pay. If you want to live in DR where many Gringos have taken up residence, guess what, your going to pay prices you see in the states or Canada. If the Gringo porperty owners find it difficult to sell there property, the price will go down. Its a matter of supply and demand. If you live among the locals, most likely you will pay less. It all depends on where you live.

But people immigrating to DR are willing to pay $100k or more for a home, so you may see most of the homes selling at that price. I've seen some large homes that were $100K or less and some similar homes for over $150K or more. If you ask me, I would build my home for much cheaper rather than buy a home at a price similar to prices in the States that are being advertised on the internet. I believe those prices are overprices relative to the cost of unadvertised homes in DR. But you have to know the country, know the people to learn to negotiate for what you want to pay if you want to build a home.

I dont beleive the Gringo investors will sell you homes at prices of your liking, or what you had invision the prices would be in the country.

I'm pretty sure there are exceptions though.
 
L

Lyse

Guest
Re: Cathy >I must be confused.....?

I too was very surprised when I read Cathys first post. I know some D.R. teachers and they earn more than 80$/year.
 
A

A Gringo

Guest
Re: Cathy >I must be confused.....?

Eight years ago my wife worked as a school teacher in Rio San Juan...at that time she told me her salery was RD. $3000 pesos per mo. or $185.00 US a month.

The company that I work for pay the Dominicans a salery of between RD $3000.($185) and RD $5000.($310) per month.

Having said that... there are Dominicans working for that same company that make as much and more then the Gringo's (Working Commission sales)
 
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CES

Guest
Re: Buying homes in the DR

Hi Cathy,

For good information contact Mr. John Schroder @:

Ascot Advisory Services
Santo Domingo, Dominican Republic
Tel. 809-334-5387
Email: info@ascotadvisory.com
<A HREF="http://www.ascotadvisory.com/">http://www.ascotadvisory.com/</A>
<A HREF="http://www.thedominicanrepublic.net/">http://www.thedominicanrepublic.net/</A>

Regards,

. . . CES
 
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ROBERT SAUNDERS

Guest
Re: Cathy >teachers pay

My wife pays her teachers about 4-6000 pesos each month. she tell's me that public school teacher make about the same, some a little more.
 
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