Need advice

Buzz65

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Jul 13, 2017
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Post denied. New posts are limited by number of URLs it may contain and checked if it doesn't contain forbidden words.

What are the words?
 

Buzz65

New member
Jul 13, 2017
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Trying to post a question where is the best place to buy and rent it out until retirement - 10 years?
 

AlterEgo

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Jan 9, 2009
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It's because you're a new poster, once your post count enters the teens there will be less restrictions. It's meant to deter spammers.
 

LTSteve

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Jul 9, 2010
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Trying to post a question where is the best place to buy and rent it out until retirement - 10 years?

If your plan is to buy a free standing house and rent it out you will have major problems. On a previous post you said you have been working in Haiti. If that is the case then you have a deep understanding of security issues. Owning a home and renting it out without living in the DR is a very risky proposition. You will get ripped off. There is little doubt about this. If you buy a property in a complex that has good security than you have a fightling chance.
 

Catseye

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Nov 7, 2009
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I agree, you can't expect the house to be in any kind of similar shape after 10 years, it will be ruined, robbed, deteriorated, whatever.  Rent until you can live in it and maintain it properly yourself.  I don't care where the house is, nobody here will maintain it like you would want it to be maintained. 
 

Buzz65

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Jul 13, 2017
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Thank you all for the very well articulated replies. And I agree to what was sais about taking care of it and security.

So, I have to pose the question: What about buying a plot, now, and then waiting until retirement to build structure? Are there squatting laws in DR? Could that be an issue?

I also have considered something like Casa Linda where they have a rental program, but I don't like the idea of one day living in a place where there are "rental people" in and out of the community. Reminds me of the condos in Miami.
 

drSix

Silver
Oct 13, 2013
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Buying a ploy now, and waiting, isn't a bad idea, but I don't see any benefit. If you're worried about prices going up, don't. Prices fluctuate wildly and are based on whimsey and chance.

Your best bet is to rent, then rent some more, until you find the perfect little gem that you just have to have.

I rented for three years, back in the US for two, and then I will be returning next fall. I will again rent. My plan is to eventually buy some acres between Sosua and Santiago somewhere and build something. But, then again, I may just rent forever.

If you're only reason for buying is for equity, then you shouldn't buy.
 

Catseye

Member
Nov 7, 2009
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 I don't see any benefit in buying a plot now, either. You never know what a particular place is going to be like in 10 years. Just rent and wait.   And unless there is some mass exodus from the US because of some catastrophe prices should not move that much.  You can always keep an eye on prices by visiting the real estate websites and then act accordingly if things start to move fast.
 

franco1111

Bronze
May 29, 2013
1,082
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Gringo
Thank you all for the very well articulated replies. And I agree to what was sais about taking care of it and security.

So, I have to pose the question: What about buying a plot, now, and then waiting until retirement to build structure? Are there squatting laws in DR? Could that be an issue?

I also have considered something like Casa Linda where they have a rental program, but I don't like the idea of one day living in a place where there are "rental people" in and out of the community. Reminds me of the condos in Miami.

You will find the problem with renters everywhere. That is the prevalent model in the east anyways. It is a curse and a scourge.
 

LTSteve

Gold
Jul 9, 2010
5,450
23
38
Thank you all for the very well articulated replies. And I agree to what was sais about taking care of it and security.

So, I have to pose the question: What about buying a plot, now, and then waiting until retirement to build structure? Are there squatting laws in DR? Could that be an issue?

I also have considered something like Casa Linda where they have a rental program, but I don't like the idea of one day living in a place where there are "rental people" in and out of the community. Reminds me of the condos in Miami.

Save your money. If you buy a plot of land you will probably change your mind over a ten year period and decide you want to move on to another area. Spend time in the DR investigating the area you acutally want to live in. Being in a gated community vs. a free standing home in the middle of nowhere is a better bet. Again, SECURITY, should be your number 1 priority. Many gringos have this dream of living in a house up in the hills with an ocean view which quickly turns into a nightmare when they realize that they are a target of theft and vandalism. Slow down and learn about the DR. I travelled here for over 20 years staying in different areas until I settled on Las Terrenas. There will be plenty of properties available don't make a decision without doing your homework.
 

Buzz65

New member
Jul 13, 2017
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Thanks for the replies. Ya, I agree, i don't wan to rent it out.

Here in Haiti, it's common to buy a property - house and land, and let someone live there for free to watch over the place and maintain it. They basically keep the place running. The folks I know who do this are Haitian/American. They don't have any problems because for a local to have a free place to live, is a gift of gold. Especially, a nice house and not the shack they are used to living in. Do you think a deal could be struck in DomRep the same?

Thinking outside the box.

Buzz
 

Russell

Well-known member
Jun 17, 2017
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I have been following this thread with interest.
You have been given some excellent advise. I own several properties in RD and also suggest you rent for a few years.
Renting in different places each year will allow you to appreciate the different geography and customs and tolerances for Gringos and other foreigners.
I always test the ice on the way to my favorite fishing spot. Running there without assessment could prove disastrous results.
Russell