Current Cost of Living in Santo Domingo

mwgarretson

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Mar 19, 2005
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Would appreciate some advice.

I have been visiting for quite awhile (2 years) and am moving from Miami to Santo Domingo in a couple weeks for a 1-year employment contract.

The current exchange is about 28:1.

Will I be able to live comfortably on a $RD120,000 monthly income?

Thanks!

Michael
 

NotLurking

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Jul 21, 2003
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RD$120k

Should be enough to live here in DR. (well managed you can even save some of that!) Your post lacks specificity on life style, family size and night life habits or desires therefore I can't provide much more info.

At any rate, if you offer more details you'll get a better response.

Good luck.
 

mwgarretson

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Mar 19, 2005
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Thanks NotLurking!

I just joined the site...it appears you are a wealth of good advice based on the posted threads.

I am single, 34 y/o...will bring my own car (is there really a first-time tax exemption for legal residents?). I am fully expecting to get the shaft at customs on this front.

I will start work shortly...full time.

I will probably go out often at first...but I have been there a lot from Miami, and I do speak spanish, so I can negotiate well with cabs, businesses, etc...

What about upfront deposits on apartments? I will be working in Naco...the prices there are outrageous. I look to live closeby?

I am looking to bring nothing for furniture...and am wondering if a furnished apt. is the way to go, or if I should buy the furniture for an empty place. Are there are large upfront deposits required to move in? I do have a cedula from my travels...I am a legal resident.

Many questions...sorry...but you appear to be a wealth of information!

Thanks,
MG
 
I

Ikill for money

Guest
you can have the best life in dr with that money

well i have a cousing he get RD 20,000 a moth and he get to do lot of things with that money.i think you with RD120,000 a month you will get the life you want in DR. with like US$70,000 you can buy i nice Apartment in DR even a house.

There people that have less money than RD 20,000 month and they make a blast out of that money .my cousin specialy he party and drink everyday(plus not adding other bad Habit).and i dont know how can he get 2 do all that, is like magic.

with that RD120,000 money a month in DR , DR is my. no joke.
 

Naufrago

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Sep 1, 2004
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mwgarretson said:
Will I be able to live comfortably on a $RD120,000 monthly income?
Yes, with that money you can live very well. And, You'll be expected to buy the drinks at your DR1 Welcome Party! :classic:
 

NotLurking

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mwgarretson said:
I am single, 34 y/o...will bring my own car (is there really a first-time tax exemption for legal residents?). I am fully expecting to get the shaft at customs on this front.
I know there is a tax exemption for dominican citizen but I'm not sure if it applies to a dominican residents of other nationality. I'm not familiar with the one time excemption process either, so, I can't offer you much in the way of advice. Maybe someone will jump in :)

mwgarretson said:
What about upfront deposits on apartments? I will be working in Naco...the prices there are outrageous. I look to live closeby?
Deposits here vary. It could be anywhere from 2-6 months. The most common being 2-3 + 1-1.5. The 2-3 months is the actual deposit the plus 1-1.5 is kept by the broker/lawyer renting the apartment.

With RD$120k monthly income you can certainly afford to rent in Naco but you'll probably get more bang for your buck in a less pricey neighborhood but of comparable quality. Of course, community quality and location etc... is purely subjective and it is up to you

mwgarretson said:
I am looking to bring nothing for furniture...and am wondering if a furnished apt. is the way to go, or if I should buy the furniture for an empty place. Are there are large upfront deposits required to move in? I do have a cedula from my travels...I am a legal resident.
I don't know if a fully furnished apt. is a good idea in your particular case. Furnished rooms costs about 10-60% (depends on many things!) more than the same apartment unfurnished. You're single and I doubt you'll need much of the *junk* needed to run a full family home. I also doubt you'll be doing much cooking - for the 1st 6 months anyway.

Perhaps you could rent an unfurnished apt and buy the things you REALLY need every month when you get paid? In any case, if you go with the fully furnished, shop around! Don't take the first thing that catches your attention. Don't forget that the furniture is not and will not be yours! If you find a furnished place you like, try to find a similar apt in the same area unfurnished. If the different in price is unreasonable I suggest you continue searching.

Good luck!
NotLurking

Edit: You should budget about 15-25% (18k - 30k) of your monthly income for rent. No it is not alot!
 
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millard

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Jan 12, 2005
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Also, make sure the car you're importing is not too old, or you'll never get it out of customs.
 

KenoshaChris

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Jan 4, 2002
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The Car

And take the stereo out before shipping the car down. If you don't, its highly likely that somebody else will do so for you.
 

NV_

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KenoshaChris said:
And take the stereo out before shipping the car down. If you don't, its highly likely that somebody else will do so for you.
...stereo, hubcaps, car brand and model emblems that can easily be pryed off, pretty much anything you'd expect would be stolen if you left your car in a really bad neighborhood in Miami with no alarm system and the windows rolled down (speaking from experience).
 

Pib

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Jan 1, 2002
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www.dominicancooking.com
As Dolores said, you will not get full tax exemption unless you are a diplomat. If you are a new resident (and have the papers to prove it) you could get a partial tax exemption, the amount of which depends on a number of things, not least importantly the position of Saturn in a particular house of your natal chart, whether your assigned customs inspector got a nookie in the morning before getting to work, various other cosmological events, etc.

The car you are bringing must have been in your possession at least a year prior to importing it. It has to have all the necessary documentation. And very important too, it can't be older than five years, unless it is a collector's car, in which case prepare yourself to pay a gazillion pesos.

As someone said, take out all the funky, expensive parts that could be stolen (ports, here and abroad, are nests of thieves).

And last but not least, get a reputable broker and buy an abundant supply of aspirines.