New Projects

spiral

New member
May 2, 2013
26
1
3
When I first lived in (moved to)the DR I was amazed at the amount of unfinished real estate "projects" I saw everywhere. From Cabarete to Santo Domingo to Juan Dolio they were everywhere. I remember the giant tower right on the Malecon that stood empty and I thought the likelihood of someone recouping money from one of these failed projects is probably nill.

Having bought a newish home in the US I found out how important it is to find out who the builder is. My first house (in the US) even though newish It was not built well because it was built by D.R Horton who is one of the US's worst mass builders. The next house I bought I made sure I found out who the builder was to not have this issue again.

My wife's sister-in-law and mother bought in on a new real estate project in Santo Domingo. It faired well and they ended getting a 50,000 USD apartment for 40,000 (yes these were aimed at Dominicans).

Has anyone here ever bought into a new project (in or out of the city)? What location did you pick? How did you investigate the builder and their history of completion of projects? Did you live in it yourself or did you rent it out as a vacation rental?


Please I am looking for people who actually have experience with this type of thing so only reply if you do. I read a page worth of posts and I get the whole rent first thing. God knows it's a crazy place. The north coast real estate looks like it depreciates more than appreciates. To be honest and the years I spent lurking at island real estate I have really only seen Santo Domingo appreciate.
 

SKY

Gold
Apr 11, 2004
10,379
688
113
Sky Real Estate Rules

1 Never buy anything that you cannot pay for in the morning and move in the afternoon.

2 Read Rule 1 again.

Disclaimer: Failure to follow rules can be hazardous to your bank account...............