I live in a $300k property that I rent for $615.I can show you Condos in Punta Cana that sell for 320K you can rent for 800 US per month.
Free to live in a condo ? Hardly what I would call free![]()
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Free is being able to lock your door, go to another country for 3 months and return with nothing missing. Try that with a house.
Free is being able to lock your door, go to another country for 3 months and return with nothing missing. Try that with a house.
I 100% disagree with your statement.
Renting here is much, much less expensive than buying.
Elsewhere, a $200,000 property would rent for nearly $1700 a month. You can rent here for half that.
I know numerous property owners here who have a hard time getting a 3-4% cap rate for their properties.
From an investment perspective, you can't just compare rent payment vs. mortgage payment. The purchase price also has an opportunity cost.
If you rent and put the difference in what a mortgage payment would be in some other investment, you'd be way far ahead.
I am not saying that the people that move here are losers, I am saying that if you are lower on the socio-economic scale in the U.S, then maybe your life is better in the DR. Part of the sad aspect is that you end up with foreigners (who choose to stay) that don't know how to be successful at business, so the Dominicans don't have much of an example to look up to.
I'm only counting interest since paying the capital on a mortgage I'd consider 'saving'. I'm paying 4% on a 205k (euros) loan. If I'd renegotiate could probably cut that in half. Anyway, less than 700 euros for a house that rents for 1200-1500 dollars. And if I sell now I have between 50 and 80k profit on the capital part.
I live in a $300k property that I rent for $615.
There is no perfect place. *I would have remained in California if I had the wherewithal at the time I made my decision to relocate to the DR. *Far better weather in California. *
:bunny: Maybe some one could start a thread in O/T Buy Sell Rent In the D/R,
Or ask Nalls FOR A POLL Like i did
:bunny:Stay on Track
Do you regret moving to the D/Republic Thanks Joe
I take umbrage with this part of your statement. I know generalizations. That's all they are. So don't make them.
But here: let me make one. People who make generalizations generally don't know what the eff they're talking about, so they generalize rather than fact check.
Done like Dinner
The comment made me think.
It may have made others think.
I cannot speak for them, but I am not from a lower socio-economic bracket.
I live in RD. I like it.
I too, took umbrage at the comment.
IMO, it was a careless comment.
I choose to think it wasn't a malicious one.......... just locker room talk, so to speak.
hahaha
Wow, such clever wit. You proved your point. So I guess if I can't make generalizations, then I would make assertions about you specifically.