J
John Evans
Guest
im not buying a property in sea horse ranch then if it will be ransacked and stripped of everything when i pass on
- Thread starter Criss Colon
- Start date
The "NORTH SHORE", Is Coming BACK!!!!!!!!!!!!
You are twisting my words on this one - my point was that the money would possibly/probably be better in the UK - FOR ME and for MY FAMILY who are not DR visitors/holidaymakers/fanatics and would not relish the job of selling a property in the DR, albeit that it is the Caribbean. An empty property for upwards of a year would be at risk.
As we have said it is about personal choice - personal preference and personal circumstances.
AK74 did overbutter the bread, admittedly, but IMHO there is some truth in what he said - research, help and good advice are all important - those who remember to use these resources will hopefully do well, invest wisely and have a great life in the DR. Those who dont......
:ermm:
Rio
This is an interesting read! Many good points made both pro and con on property ownership in the DR, mostly by folks with much more experience than we have. Perhaps we've been incredibly lucky, but so far we are pleased with our purchase last year. We are realizing modest rental income, have had no security issues, and have reliable management on site. That said, the basic caveats still apply-
-Work with reputable Real Extate brokers and Lawyers
-Research the area and visit before committing to purchase.
-Purchase based on your needs and happiness, not on your dream of being a real estate investor.
-Finally, don't commit more than you can afford to lose.
And use the counsel of those who know and have seen far more than we have. Our gratitude to them for the good guidance we have received so far!
-Work with reputable Real Extate brokers and Lawyers
-Research the area and visit before committing to purchase.
-Purchase based on your needs and happiness, not on your dream of being a real estate investor.
-Finally, don't commit more than you can afford to lose.
And use the counsel of those who know and have seen far more than we have. Our gratitude to them for the good guidance we have received so far!
I think she meant...........
That her family does not go to the DR with her. Therefore it would be difficult for them to "liquidate" her belongings when she departs this earth.
That her family does not go to the DR with her. Therefore it would be difficult for them to "liquidate" her belongings when she departs this earth.
To expain....
OK - I (me) am DR crazy - 12 years living and visiting - alone. FAMILY - not interested...
Hence - if I was to invest in a property - for ME - and would be leaving it to MY FAMILY when I died - they basically wouldn't want it or the hassle of selling it.
:cheeky:
Rio
OK - I (me) am DR crazy - 12 years living and visiting - alone. FAMILY - not interested...
Hence - if I was to invest in a property - for ME - and would be leaving it to MY FAMILY when I died - they basically wouldn't want it or the hassle of selling it.
:cheeky:
Rio
For me, the above statement holds a lot of water. It's about personal choice/preferences/intentions. Personally, I'll never buy again.... anywhere. I want to always have the freedom to pack my bags and move on. I've come to the realization that I just don't want to stay in one place for the rest of my life. I want to live here, and then there, and then over there, and.... well, you get the picture.
When I moved here to the DR, I lost a lot on my condo back in the U.S. as the market had already begun to fall tremendously and I needed to get rid of my property and get what I could from it. I took a huge loss. That will never happen to me again. Here in the DR I'm renting long-term. Everything in my rental belongs to me as I brought it here myself. There's always the option to rent something unfurnished and then furnish it to your liking as I did. But even doing what I did is a burden to me, in view of my decision to be a globe-trotter. If I hadn't brought my "comfortable" things with me, I wouldn't have to bother with getting rid of them when I decide I'm ready to move on somewhere else. Therefore I've also decided that when I DO decide I'm ready, everything I brought here will be sold or given away. In the future, my dream plan is to never have the feeling that I'm weighted down to any particular region of the world and if and when I desire, I can move on and seek out the next venture/adventure and the next rental property that suits my needs. That's just my personal preference.
If it were just globetrottering itch!
There are more serious issues why at some point you might be willing to grab your Sony VAIO and run as fast as possible without looking back.
First - political stability. In our USA and England we got used to have political stability as a given. Not the case with underdeveloped corrupt countries with impoverished majority of population that often has nothing to eat (DR is one of them). Desperate people who see the richess and luxury of expats can do anything any moment. Good examples are Zimbabve, South Africa, Haiti (our neighbors) where white population was PHISICALLY liquidated within hours, well before any international or peacekeepeng forces arrived.
Second. Absense of ZONING. Unlike in USA in DR zoning does not exist. It means that any day next to your beautiful villa a big auto repair shop or casino or disco/brothel can be built. And value of your $350G house will become $50G (with $250G balance on your mortgage)
Third. Ecology. There is no environment protection laws that are seriously enforced in DR against big companies. Does anybody knows that Sosua Bay very soon will be open for huge cruise ships to enter for fuelling, cleanning etc. ?? Nice news for us swimmers sunbathers, right ?!
Fourth. Lack of building codes. Do you know the content of asbestos in your newly built villa/condo? Good question.
Those who are close to construction business should know a Russian businessman who recently tried to begin making building blocks. Manufactured a huge number of them and had to quit because of the bad technology his blocks were not useable for construction and fall apart upon touching any surface.
Does anybody know what happened to these blocks? Correct answer - all of them WERE USED in a very expensive development (into the wall right from the truck, before they break). So those houses are bound to breake down within a very limited number of years.
And so on, and so forth...
So a dilemma buy-or-rent definitely must be thought over well beyond sales propoganda of sweet-talking Real Estate agents.
Sorry for being this much pessimistic and negativistic!! Just of being realistic and knowledgistic.
AK74,
You do have knack for describing the dark side. I am sure everything you are saying is accurate and true, but it just isn't the entire picture. There is also a bright side to the DR, and I imagine you know that, or you wouldn't be here.
Which brings up an interesting question. If you believe things are as bad as you report, why are you here? This is not a sarcastic or rhetorical question; I would really like to know how you can feel the way you do and still live here? What is it about this place that makes it worthwhile for you to live here? It would really help me to understand your point of view if you could please list some specific things that you consider positive about the DR. Thank you.
You do have knack for describing the dark side. I am sure everything you are saying is accurate and true, but it just isn't the entire picture. There is also a bright side to the DR, and I imagine you know that, or you wouldn't be here.
Which brings up an interesting question. If you believe things are as bad as you report, why are you here? This is not a sarcastic or rhetorical question; I would really like to know how you can feel the way you do and still live here? What is it about this place that makes it worthwhile for you to live here? It would really help me to understand your point of view if you could please list some specific things that you consider positive about the DR. Thank you.
Not at all!
DR is great! It is the best for a person of my type. Untill the age when a person cannot get hard any more and cannot swim in the ocean it is the best place in the world by far.
All the above said was not against my beloved (especially for its personal and civil freedom vs "a big and democratic Big Brother") but as a weak humble attemp to counter-act the unanimous and massive institutional pressure of Real Eastate people who under different names keep saying here: - " Buy! Buy! Buy! "
People deserve to know the whole truth.
All was said only in dispute buy-vs-rent.
J
John Evans
Guest
I have friends in the uk that are coming up for their 4th year of trying to sell their property...there will be examples like this is virtually any country...the property is in the uk by the way
If they are young - it is not a big deal. I have real property in US and I can wait eight-ten years until the RE market rebounds.
But for a 75 year old half blind expat on a fixed retirement income and with Alzmeier`s and osteoporosis - this kind of hassle could be a killer.
Fair enough, that is a good answer to my question.
My statements on buying as opposed to renting are simply my personal preference as well. Just so you know, I am not a real estate agent, and I have no interest in buying or selling property in the DR.
I have my little condo and I'm happy with that.The DR fits my life style pretty good, and I intend to enjoy all the good things it has to offer, for as long as I can. I also intend on giving something back, as best I can.
I guess if I had to summarize what I like most about being here, I would say it is the attitude. It is probably as close to the wild west as we'll find in this day and age. The sense of "live and let live", of being independent and taking care of yourself, of being part of a community that watches out for the other guy without smothering him, and of being able to just be yourself. It's a good place to be if you like this kind of life, regardless of whether you rent or buy.
My statements on buying as opposed to renting are simply my personal preference as well. Just so you know, I am not a real estate agent, and I have no interest in buying or selling property in the DR.
I have my little condo and I'm happy with that.The DR fits my life style pretty good, and I intend to enjoy all the good things it has to offer, for as long as I can. I also intend on giving something back, as best I can.
I guess if I had to summarize what I like most about being here, I would say it is the attitude. It is probably as close to the wild west as we'll find in this day and age. The sense of "live and let live", of being independent and taking care of yourself, of being part of a community that watches out for the other guy without smothering him, and of being able to just be yourself. It's a good place to be if you like this kind of life, regardless of whether you rent or buy.
Second 100%! We are same blood, bro.
Except that rent gives you even stronger sense of freedom, independence and relaxation.
Let this guy-landlord fix his cracked foundation, burnt planta and leaking roof and deal with liquidation court proceedings. We`ll just move across the street. And those two eighteen-year old beauties who love to sit on our laps will move with us promptly.
I won`t trade DR for any place in the world. No-no!!
What about the security of knowing you wont have to move from a house unless you want to. If you rent a house the owner could decide to sell it, making you move. If you plant trees, you will be able to live there long enough to pick the fruit.
Correct! I feel you.
There is no perfect solutions in real life.
What we are talking about is - in which way you expose yourself, your loved ones and your money to possible troubles and even dangers to a higher and to a lower degree?
Security and economical attractiveness of home ownership in USA is much higher than in DR in my opinion. Even with the current RE crisis.
For me a decision between renting a top notch ultra-modern beachfront appartment that I am renting now for $1000/month and buying it for $300 000 like the owner offered me (including all taxes and lawyer fees and closing cost) is a no-brainer.
$300 000 on roughly 5% in my Credit Union CD yelds roughly $15 000 a year , that means living in my current appt FOR FREE (this $15 000 exactly cover $12 000 /year rent and electricity) and still having my funds intact waiting for a nice bargain foreclosure sale in a desirable NY neighborhood that me thinks will be possible and available in next couple of years with deepenning recession into depression.
Standards of living are rising in latin america. Asia is the big story now. I hear the next big move will be latin america. Then its expected to move to africa.
If the standard of living rises in the DR, the crime will drop. I live in Hawaii and have seen this play out. The DR has some valuble assets. If you don't buy before the big ramp, you miss out.
Global warming is another consideration, I understand the north coast is protected from hurricanes due to the mountain ranges there. Are there any thoughts on that?
Sea level rise is another consideration. Are you experencing beach errosion at this time?
If the standard of living rises in the DR, the crime will drop. I live in Hawaii and have seen this play out. The DR has some valuble assets. If you don't buy before the big ramp, you miss out.
Global warming is another consideration, I understand the north coast is protected from hurricanes due to the mountain ranges there. Are there any thoughts on that?
Sea level rise is another consideration. Are you experencing beach errosion at this time?
My humble opinion.
TO ANYONE THAT IS READING ONLY THE LAST FEW ENTRIES OF THIS THREAD... PLEASE READ THE WHOLE THREAD FROM THE BEGINNING.
I don't think that I've ever read so much CRAP as offered, in his opinion, as provided by AK74.
Just my opinion, Ringo
TO ANYONE THAT IS READING ONLY THE LAST FEW ENTRIES OF THIS THREAD... PLEASE READ THE WHOLE THREAD FROM THE BEGINNING.
I don't think that I've ever read so much CRAP as offered, in his opinion, as provided by AK74.
Just my opinion, Ringo
Ringo.. I agree
AK74 does throw it out there. He doesn't even pay taxes on the $300K CD. He is special.
AK74 does throw it out there. He doesn't even pay taxes on the $300K CD. He is special.