Is this a Fair Price for this house

bob saunders

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Jan 1, 2002
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USA Bob and proud of it.
We don't give a flying F*** about the metric system here

It was my mistake on the conversion and I will own it.
I grew up with imperial and switched to metric in my late teens. I can work equally well in either. Being a citizen of a country is something you have no control of if you are a citizen from birth. I had two ancestors from Massachusetts that fought in the American war of independence and one that fought in the war of 1812. My Canadian relatives fought in both World Wars, and Korea but I had nothing to do with any of that, so no reason to be either proud or ashamed. I personally think the OP is spending too much money if he plans on buying that house.
 

RDKNIGHT

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IMO buying a house that has not been built is not always the best idea. Rent, rent, rent...Always rent before you buy.
yea they try to hook you with the value will increase before you move in and if you don't want it you can sell it at a profit....that's total horse Sh**

I have a friend who brought two units behind Jumbo Bavaro was supposed to be ready in 2021 and they are still not ready...and the value has gone down ,,, I wouldn't buy a dog house on pre built.
 

RDKNIGHT

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real estate market here is the biggest con job premarket they show you beautiful pictures with beautiful furniture and then when you go to move in none of this stuff is the same everything is at a cheaper version to put money in their pockets biggest con job I'd rather deal with a street Hustler...then they hit you with oh it's guaranteed .. guaranteed my butt ..I'd rather play three card Monte in Times Square in the 1980s then deal with these real estate con artist
 

bob saunders

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Opinion - a view or judgement formed about something, not necessarily based on fact or knowledge.

With an understanding of that definition...I would be interested to know how you formed your opinion about the property?
Not so much about the property but the reason he is buying it. In Real Estate, no matter where in the world , location is key to the value of a house. I have owned numerous houses, and still own several.
 
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Yourmaninvegas

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Feb 16, 2016
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Not so much about the property but the reason he is buying it.
So you are saying what?
He does not have a good reason to buy the house.
According to your own statement that has nothing to do with the value of the house.
In Real Estate, no matter where in the world , location is key to the value of a house.
Addressing this part of your post...are you saying that the location of the house in La Romana does not justify the price?
I have owned numerous houses, and still own several.
I have never owned a house.
I have paid interest on many of them while I had a loan on them.
I have been homeless for most of my life.

Wait wait...I take that back.
I do own a house in my country of origin.
In the sense of no loan.
But I do not really own it.
If I don't pay the property taxes the government will seize it and sell it.
If they want to put a highway through it all they have to do is take it and pay me what they want.
No recourse.

Nah, none of us actually one real estate.
It is a nice illusion that many believe.
If it makes you feel better...great.

Now I have not experience with homes in La Romana so I hear your opinion.
And find your reasoning interesting.

I own my BTC.
 

keepcoming

Moderator - Living & General Stuff
May 25, 2011
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We own property in the DR, have for many, many years. Now when we are thinking of selling, it is not so easy to sell. When we bought our main residence in DR, I had spent a lot of time in the DR and felt I was informed, comfortable enough to live in the DR. I guess at the time I did not think ahead to many years later when I would be spending less time in the DR. Buying property is a big commitment, even more so when buying in another country you are not familiar with as the OP. Renting is a much better option IMO for the OP's situation based on everything he has posted. There is a lot more to living in the DR than just buying a house and moving.
 

bob saunders

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So you are saying what?
He does not have a good reason to buy the house.
According to your own statement that has nothing to do with the value of the house.

Addressing this part of your post...are you saying that the location of the house in La Romana does not justify the price?

I have never owned a house.
I have paid interest on many of them while I had a loan on them.
I have been homeless for most of my life.

Wait wait...I take that back.
I do own a house in my country of origin.
In the sense of no loan.
But I do not really own it.
If I don't pay the property taxes the government will seize it and sell it.
If they want to put a highway through it all they have to do is take it and pay me what they want.
No recourse.

Nah, none of us actually one real estate.
It is a nice illusion that many believe.
If it makes you feel better...great.

Now I have not experience with homes in La Romana so I hear your opinion.
And find your reasoning interesting.

I own my BTC.
None of us are Sovreign citizens. You can define ownership however you want. Legally when you buy a house the ownership papers say you own it, and as such have the right to sell it. Paying taxes is another thing altogether. The fact that he is asking, means he should be renting until he understands the market better.
 
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PCMike

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Aug 30, 2008
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Easy to buy in DR, hard to sell. Rent. Rent. Rent.
Odd, during Covid we decided we should put the house up for sale, which we decided after to hang on to it. Within 12 hours of posting on Facebook Marketplace we had 2 buyers with deposits in hand. I guess it is all about location, location, location.
 
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keepcoming

Moderator - Living & General Stuff
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Odd, during Covid we decided we should put the house up for sale, which we decided after to hang on to it. Within 12 hours of posting on Facebook Marketplace we had 2 buyers with deposits in hand. I guess it is all about location, location, location.
Do you think it was the timeframe, or the method/where you posted the sale? Curious seller wants to know...
 

Yourmaninvegas

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Feb 16, 2016
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None of us are Sovreign citizens. You can define ownership however you want. Legally when you buy a house the ownership papers say you own it, and as such have the right to sell it. Paying taxes is another thing altogether. The fact that he is asking, means he should be renting until he understands the market better.
It is not a matter of defining ownership as wish.
I can put a dress and lipstick on a pig and call her a beauty queen.
No one will agree with me.
It really does not matter how things work legally.
It matters who things actually work.
That is what people who learn how to think actually do.
They do not take definitions and blindly follow them.
Nor to they beat there chests about false ownership.
I will be a sovereign (note my correct spelling...where did you goto school) citizen in the future.

But if we want to talk about the property of the OP in La Romana there are two values absolute and relative.
You opinion that it is overpriced is base on your perception of relative value.
I used my education to give an idea about absolute value.
And I know you read my post and found not problem with it since if your had you would have commented on it.

Investment 101 says:
You need to have an entry point.
How you will make money during the ownership period
Exit point.
Real Estate is not considered a liquid asset.
We are all grown ups here with a few exceptions...we should know this.
Many over look the exit point when planning investments.
Big mistake.

Rent, it lowers your risk.
Put your money into something that is going to make you money...or give you enjoyment.
Buying involves opportunity costs...but that is a discussion for another thread.

Reference is made to post #15
 

chico bill

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May 6, 2016
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Odd, during Covid we decided we should put the house up for sale, which we decided after to hang on to it. Within 12 hours of posting on Facebook Marketplace we had 2 buyers with deposits in hand. I guess it is all about location, location, location.
I built several spec homes on lots I bought and developed one of my own subdivisions.

I sold many homes as they were being framed up. I preferred to finish them myself however so I didn't have the customer making color choices or slowing me down.

But I can tell you I never wasted much time talking to them. If they were serious I told them we can open an escrow tomorrow.

Because so many people are 'buyers' until they have to commit real money - lots of lookie-loos who are just habladoras.
 
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jd426

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I built several spec homes on lots I bought and developed one of my own subdivisions.

I sold many homes as they were being framed up. I preferred to finish them myself however so I didn't have the customer making color choices or slowing me down.

But I can tell you I never wasted much time talking to them. If they were serious I told them we can open an escrow tomorrow.

Because so many people are 'buyers' until they have to commit real money - lots of lookie-loos who are just habladoras.

Agree 100 % .. and Especially on FB the Tire Kickers are absolutely exhausting for the Sellers ( was going to say this before but did not want to go off topic)
.. I bought one car and a bunch of other Items on FB , all deals went very smoothly , Not as High Dollar as a House , but even special Machinery . not something you would buy on Impulse .
.. EVERY SINGLE SELLER confided in me that they had to endure at least a DOZEN Talkers/ tire Kickers , all talk , no money ,, almost like they were LONELY People and this was a Day out for them to meet people . This is why a Broker is so important in Real Estate .. They Filter our those Losers who you could waste a lot of time and energy on .
that said , as a BUYER , I think the OP needs to do a LOT more Due Diligence before they plop down $300K on ANY piece of Real Estate in the DR . Waiting 10 years to Break even again , is not much fun .. I've done it .
 
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