Author Topic: Buying property in the Dominican Republic  (Read 2537 times)

fpjeepy

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Buying property in the Dominican Republic
« on: September 27, 2023, 03:05:31 PM »
Is this a terrible idea? I'm a US citizen, I know nothing about buying real estate there, but the US is getting so expensive. I'm dreaming about moving to the mountains of DR and homesteading/working remotely.

uniwelder

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Re: Buying property in the Dominican Republic
« Reply #1 on: September 27, 2023, 03:39:23 PM »
Interesting location. Is this just on a whim or do you have experience living there previously?  Many people dream of homesteading or moving to a foreign country, but I feel like the fantasy doesn’t usually pan out as hoped.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #2 on: September 27, 2023, 03:46:03 PM »
I haven't been yet. I'm hoping to go soon. I will want to have a lot more experiences there before I make any decision. If it is a terrible idea though I'd rather be told now so I don't waste any more time.

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #3 on: September 27, 2023, 03:48:18 PM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #4 on: September 28, 2023, 08:25:38 AM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

Michael in ABQ

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Re: Buying property in the Dominican Republic
« Reply #5 on: September 28, 2023, 08:46:29 AM »
Some countries are more friendly than others to expats. Whether it's a local community of expats you can tap into, or just simply the rule of law and property ownership. I'm not sure where the Dominican Republic falls on that spectrum. Costa Rica is one that's usually considered very friendly to expats. There's also the local economy and security situation. Clearly Venezuela would not be a good choice for an American to retire to.

Keep in mind that if you need some tool or supplies it's not like you're going to be able to run into town to a Tractor Supply or order something online and have it delivered - even to a PO Box in the closest town. Other than presumably cheap land, if you're homesteading you're not going to get much of the advantage of cheaper labor and goods/services in that country.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #6 on: September 28, 2023, 09:02:04 AM »
Keep in mind that if you need some tool or supplies it's not like you're going to be able to run into town to a Tractor Supply or order something online and have it delivered - even to a PO Box in the closest town. Other than presumably cheap land, if you're homesteading you're not going to get much of the advantage of cheaper labor and goods/services in that country.

Why wouldn't there be an advantage of cheaper labor?

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #7 on: September 28, 2023, 09:03:30 AM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

Adventine

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Re: Buying property in the Dominican Republic
« Reply #8 on: September 28, 2023, 09:20:49 AM »
How much time have you actually spent in the Dominican Republic? Was it all vacation time, meaning you were doing all the touristy things? Or have you actually tried homesteading/working remotely there?


I know people who dreamed of the digital nomad life in my home country (another cheap developing country popular with American expats) but who didn't take into account things like:


- how to rent/purchase a home/vehicle without being charged the "rich expat" price
- how to check internet speeds. Some people wanted to become digital nomads in the countryside but didn't take into account that internet connection speeds were inadequate/nonexistent in the area
- how to deal with government bureaucracy, especially when applying for the correct work/residence permits
- if looking for romantic relationships with locals, what the expectations are about marriage, children, and supporting extended family. You better know what your own boundaries are when it comes to these things. Many expats get romantically involved with locals without understanding these things.




Don't underestimate the difficulty of adjusting to a new country where you're not familiar with the language, culture and where you don't have a strong support network. You will be a prime target and seen as a rich American who can easily be taken advantage of.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #9 on: September 28, 2023, 09:25:02 AM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

I just see remote work becoming more popular in the future. I could see this area becoming a hot spot for expats and me missing my opportunity to invest.

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #10 on: September 28, 2023, 09:44:51 AM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

I just see remote work becoming more popular in the future. I could see this area becoming a hot spot for expats and me missing my opportunity to invest.

Again, you want to understand why real estate there is cheap before you can have any clue how to invest wisely.

I cannot emphasize this enough, you MUST understand the ins and outs of a real estate market before you can safely invest in it.

I own multiple properties, some of them very far away, but I would NOT buy in a place like DR without becoming very, very familiar with it first. And either becoming fluent in Spanish, or having a very, very trusted business associate or spouse who is.

I guarantee you're not the first person to think of this. If investors aren't buying up DR real estate like hotcakes, there's a good reason.

I have family that does extensive real estate business in the Turks and Caicos, and it's not cheap there, they have a few 1 bedroom condos that are worth close to 1M, because T&C doesn't have some of the drawbacks of other similar locations.

Investors will buy anywhere where the market is good or looking like it will become good. So again, if places are cheap I'm DR, you need to understand why others aren't snapping them up.

Are they really a deal? If so, why aren't they selling and why aren't the prices sky rocketing? If they aren't a deal, why not??

Also, are you looking primarily for real estate to invest in or to live in? Because those are separate issues.

Sometimes the dirt cheap places are an amazing deal for living if you're cool with the reasons they're cheap. I'm living somewhere cheap right now because of substantial drawbacks of the area.

It's a great deal for me because I'm cool with those factors.

However, I'll never make much money off of this place. The factors that make it cheap aren't going to radically change in my lifetime.

I bought an investment property in another area though because I understood why it was cheap and I understood why it wouldn't stay that way. I'm not a genius though, every other property investor had the same idea. By the time I closed on my property it was already worth more than I could have afforded to buy.

I'm not saying it's a bad investment, I'm saying I have no idea, and frankly, neither do you. You MUST know a market, why it's valued the way it is, and you must know exactly what you want from that market in order to even know if what you are buying is worth what it's listed at.

And I've mentioned corruption several times. Do you have any idea what doing business in a highly corrupt system without consumer protections or a legal system that works is like??

How are you supposed to make informed decisions when the lawyer you are paying to help you navigate a highly corrupt system might be lying to you, and might be paid off by the real estate agent who also might be lying to you? And the person selling the property might not even legally own it? How do you navigate that?? Sue someone?? In a corrupt system with no protections for you??

Here's a quote from a Reddit thread about investing in real estate in DR to give you an idea:

"I would strongly advise against it, and yes especially pre construction. I’m speaking from experience.

Real estate agents are not licensed or certified by any governmental agency.

Most lawyers are not honest, and the laws regarding real property and condos are absolutely worthless for a property owner.

There is no uniform system of titles, and no escrow system or title search, so you could end up with a clouded title and not even know it.

There are no building codes and no agency to inspect the property as it is being constructed.

In Punta Cana, there has been zero appreciation in property values for at least 10 years.

If you buy a condo, you’ll be making decisions about your property with a group of people from all over the world, all who have different value systems when it comes to honesty and making timely payments.

If you are willing to accept all of these drawbacks, good luck!"
« Last Edit: September 28, 2023, 09:50:16 AM by Metalcat »

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #11 on: September 28, 2023, 10:10:07 AM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

I just see remote work becoming more popular in the future. I could see this area becoming a hot spot for expats and me missing my opportunity to invest.

Again, you want to understand why real estate there is cheap before you can have any clue how to invest wisely.

I cannot emphasize this enough, you MUST understand the ins and outs of a real estate market before you can safely invest in it.

I own multiple properties, some of them very far away, but I would NOT buy in a place like DR without becoming very, very familiar with it first. And either becoming fluent in Spanish, or having a very, very trusted business associate or spouse who is.

I guarantee you're not the first person to think of this. If investors aren't buying up DR real estate like hotcakes, there's a good reason.

I have family that does extensive real estate business in the Turks and Caicos, and it's not cheap there, they have a few 1 bedroom condos that are worth close to 1M, because T&C doesn't have some of the drawbacks of other similar locations.

Investors will buy anywhere where the market is good or looking like it will become good. So again, if places are cheap I'm DR, you need to understand why others aren't snapping them up.

Are they really a deal? If so, why aren't they selling and why aren't the prices sky rocketing? If they aren't a deal, why not??

Also, are you looking primarily for real estate to invest in or to live in? Because those are separate issues.

Sometimes the dirt cheap places are an amazing deal for living if you're cool with the reasons they're cheap. I'm living somewhere cheap right now because of substantial drawbacks of the area.

It's a great deal for me because I'm cool with those factors.

However, I'll never make much money off of this place. The factors that make it cheap aren't going to radically change in my lifetime.

I bought an investment property in another area though because I understood why it was cheap and I understood why it wouldn't stay that way. I'm not a genius though, every other property investor had the same idea. By the time I closed on my property it was already worth more than I could have afforded to buy.

I'm not saying it's a bad investment, I'm saying I have no idea, and frankly, neither do you. You MUST know a market, why it's valued the way it is, and you must know exactly what you want from that market in order to even know if what you are buying is worth what it's listed at.

And I've mentioned corruption several times. Do you have any idea what doing business in a highly corrupt system without consumer protections or a legal system that works is like??

How are you supposed to make informed decisions when the lawyer you are paying to help you navigate a highly corrupt system might be lying to you, and might be paid off by the real estate agent who also might be lying to you? And the person selling the property might not even legally own it? How do you navigate that?? Sue someone?? In a corrupt system with no protections for you??

Here's a quote from a Reddit thread about investing in real estate in DR to give you an idea:

"I would strongly advise against it, and yes especially pre construction. I’m speaking from experience.

Real estate agents are not licensed or certified by any governmental agency.

Most lawyers are not honest, and the laws regarding real property and condos are absolutely worthless for a property owner.

There is no uniform system of titles, and no escrow system or title search, so you could end up with a clouded title and not even know it.

There are no building codes and no agency to inspect the property as it is being constructed.

In Punta Cana, there has been zero appreciation in property values for at least 10 years.

If you buy a condo, you’ll be making decisions about your property with a group of people from all over the world, all who have different value systems when it comes to honesty and making timely payments.

If you are willing to accept all of these drawbacks, good luck!"

I think everything you are saying makes sense to me.

"If investors aren't buying up DR real estate like hotcakes, there's a good reason."

This made me think of Peter Thiel's question... "What important truth do very few people agree with you on?"


uniwelder

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Re: Buying property in the Dominican Republic
« Reply #12 on: September 28, 2023, 10:33:16 AM »
Keep in mind that if you need some tool or supplies it's not like you're going to be able to run into town to a Tractor Supply or order something online and have it delivered - even to a PO Box in the closest town. Other than presumably cheap land, if you're homesteading you're not going to get much of the advantage of cheaper labor and goods/services in that country.

Why wouldn't there be an advantage of cheaper labor?

This is somewhat off-topic to OP's situation, but it made me think of the guy we've hired for drywall.  He's from Mexico, incredibly hardworking, and good with his money.  We were talking about buying a house or land in Guanajuato (my wife is Mexican as well) and he told us about his property and investments back home.  I think he bought something like 200+ acres that part of his family back home moved onto, along with 20-30 other people.  He has bulldozers, backhoes, and dump trucks.  They're building houses there, as well as farming the property. 

The lesson here--- he's not doing any of that physical work.  People that know the area are providing the labor, he can afford it because labor is so cheap, and his family is overseeing all the work.

Michael in ABQ

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Re: Buying property in the Dominican Republic
« Reply #13 on: September 28, 2023, 10:41:19 AM »
Keep in mind that if you need some tool or supplies it's not like you're going to be able to run into town to a Tractor Supply or order something online and have it delivered - even to a PO Box in the closest town. Other than presumably cheap land, if you're homesteading you're not going to get much of the advantage of cheaper labor and goods/services in that country.

Why wouldn't there be an advantage of cheaper labor?

If you're homesteading then typically that means you're the one doing all the labor on a day to day basis. Cheaper labor would certainly apply if you're hiring someone to build something but I assume you would be caring for a garden or livestock on your own rather than hiring someone to do that.

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #14 on: September 28, 2023, 10:41:54 AM »

I think everything you are saying makes sense to me.

"If investors aren't buying up DR real estate like hotcakes, there's a good reason."

This made me think of Peter Thiel's question... "What important truth do very few people agree with you on?"

I don't understand what your Thiel quote is supposed to imply...

neophyte

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Re: Buying property in the Dominican Republic
« Reply #15 on: September 28, 2023, 08:30:54 PM »
I would certainly think twice about buying land in rural Dominican Republic. I've visited and spent a very small amount of time out of the touristy parts.
- Some places are poor. Not American poor. Actual poor. Dirt floors and no running water poor. Whole villages.
- I don't think there was much English spoken outside the tourist areas. I can't swear by this though because I speak fluent Spanish so it didn't really come up. However at a hostel in Santo Domingo, the guy working the front desk asked me to translate a phone call that came in in English.
-Haiti is falling apart. Haitians are flooding over the border and the DR doesn't have the capacity to handle the situation. It's still way better than Haiti though.
-Everyone I met, everyone, said it is dangerous there. That said, I never felt in danger, and the statistics show that's it's safer than my current US city.
-Caveat- where I am I know most violence is gang/drug/youth oriented and if you stay out of that stuff you're pretty safe. I suspect a lot more violence in the DR is robbery motivated.
-Everywhere has security guards. The people I met with country homes had guard houses on their property and 24/7 security. These were wealthy people by DR standards, but not particularly wealthy by American standards.
-Doesn't matter if you're rich or not, if you are white and/or if you are American you are rich.

I think the DR does have a lot of things going for it though. It's an absolutely beautiful country and economically I believe it's improving rapidly.

That said, what about Puerto Rico? Being a US territory I have to imagine that buying property, paperwork, all of those things would be far, far simpler.

GilesMM

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Re: Buying property in the Dominican Republic
« Reply #16 on: September 28, 2023, 10:22:13 PM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

I just see remote work becoming more popular in the future. I could see this area becoming a hot spot for expats and me missing my opportunity to invest.


It has already been hot with expats for over a decade. If it were to surge with WFH that would have happened in 2020. WFH is kind of fading now.


All that said, if you like there, go ahead and move down and start looking at property. Get a feel for the market. It is very popular for Americanexpats and they rave about it.

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #17 on: September 29, 2023, 06:50:00 AM »
Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

I just see remote work becoming more popular in the future. I could see this area becoming a hot spot for expats and me missing my opportunity to invest.


It has already been hot with expats for over a decade. If it were to surge with WFH that would have happened in 2020. WFH is kind of fading now.


All that said, if you like there, go ahead and move down and start looking at property. Get a feel for the market. It is very popular for Americanexpats and they rave about it.

Exactly.

Go, explore, see if it's a great deal for you. Buy if it makes sense and you learn how to navigate the system.

Just don't buy while you know NOTHING about the country.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #18 on: October 01, 2023, 04:36:22 PM »
Keep in mind that if you need some tool or supplies it's not like you're going to be able to run into town to a Tractor Supply or order something online and have it delivered - even to a PO Box in the closest town. Other than presumably cheap land, if you're homesteading you're not going to get much of the advantage of cheaper labor and goods/services in that country.

Why wouldn't there be an advantage of cheaper labor?

If you're homesteading then typically that means you're the one doing all the labor on a day to day basis. Cheaper labor would certainly apply if you're hiring someone to build something but I assume you would be caring for a garden or livestock on your own rather than hiring someone to do that.
I was thinking more about building a shed or manufacturing exportable items. Gardening and maintaining livestock I would try to do myself.


I think everything you are saying makes sense to me.

"If investors aren't buying up DR real estate like hotcakes, there's a good reason."

This made me think of Peter Thiel's question... "What important truth do very few people agree with you on?"

I don't understand what your Thiel quote is supposed to imply...


The area I'm interested in is Constanza. It's in the mountains with the coolest temperatures in the Caribbean. They get ice/frost in the higher elevations during the winter, but never snow. I think it's beautiful, and sounds like it would be an easy / comfortable place to live.

If this is a great place to live 10-50 years from now it would be a good investment now, because of that truth AND very few people recognizing that. If everyone knew it would be a great place to live 20 years from now it wouldn't be a good investment now, because prices would reflect that. I don't know what it will look like in the future, so I still don't have an answer, just makes me think.


I would certainly think twice about buying land in rural Dominican Republic. I've visited and spent a very small amount of time out of the touristy parts.
- Some places are poor. Not American poor. Actual poor. Dirt floors and no running water poor. Whole villages.
- I don't think there was much English spoken outside the tourist areas. I can't swear by this though because I speak fluent Spanish so it didn't really come up. However at a hostel in Santo Domingo, the guy working the front desk asked me to translate a phone call that came in in English.
-Haiti is falling apart. Haitians are flooding over the border and the DR doesn't have the capacity to handle the situation. It's still way better than Haiti though.
-Everyone I met, everyone, said it is dangerous there. That said, I never felt in danger, and the statistics show that's it's safer than my current US city.
-Caveat- where I am I know most violence is gang/drug/youth oriented and if you stay out of that stuff you're pretty safe. I suspect a lot more violence in the DR is robbery motivated.
-Everywhere has security guards. The people I met with country homes had guard houses on their property and 24/7 security. These were wealthy people by DR standards, but not particularly wealthy by American standards.
-Doesn't matter if you're rich or not, if you are white and/or if you are American you are rich.

I think the DR does have a lot of things going for it though. It's an absolutely beautiful country and economically I believe it's improving rapidly.

That said, what about Puerto Rico? Being a US territory I have to imagine that buying property, paperwork, all of those things would be far, far simpler.

Agree and agree.

 I'm not the biggest fan of oppressive heat. PR has some higher elevations, but nothing like DR.

Have you lived there? Rented there? Have family there?

I wouldn't buy property in a location where I don't have a solid understanding of the culture, laws, and what the corruption looks like.

I plan to live in Mexico in the future because I have a ton of Mexican family in the specific area I'm interested in, so I wouldn't be dependent on expat community for support and integration. Even then, I would likely stick to renting.

That's just me though, a bunch of folks from my hometown bought property in Costa Rica a few decades back and have no regrets.

I don't have family there. I'm white with pretty bad Spanish skills, I doubt I'll ever look like a local. I have a cousin who has a friend who started a church there, so at best that would be my community. I don't think I would look at it as a permanent move, but who knows?

I would DEFINITELY NOT buy in your situation.

You want to know quite a bit about a local market, the laws, the corruption, what that means for property owners, etc, before investing in property somewhere foreign and cheap.

It's very, very easy to rent in these places. Buying makes zero sense.

I just see remote work becoming more popular in the future. I could see this area becoming a hot spot for expats and me missing my opportunity to invest.


It has already been hot with expats for over a decade. If it were to surge with WFH that would have happened in 2020. WFH is kind of fading now.


All that said, if you like there, go ahead and move down and start looking at property. Get a feel for the market. It is very popular for Americanexpats and they rave about it.

Exactly.

Go, explore, see if it's a great deal for you. Buy if it makes sense and you learn how to navigate the system.

Just don't buy while you know NOTHING about the country.

Agree. I will go explore. Might sound crazy to some of you, but I put a lot of weight in my faith. If God leads me to an opportunity there I will follow it. If He doesn't, I'll continue my boring live in NJ hahaha

Thank you guys for being a great bouncing board for my ideas. I truly appreciate this community!

Eye candy

https://youtu.be/ZyojWNysWuA?si=uP9P2GyZc5zr_Fvi
 
« Last Edit: October 01, 2023, 08:42:08 PM by fpjeepy »

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #19 on: October 01, 2023, 04:54:48 PM »
We're literally just telling you to do due diligence, that's it.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #20 on: October 01, 2023, 06:05:18 PM »
We're literally just telling you to do due diligence, that's it.

I'm not disagreeing. I think you are offer good advice that I plan on listening to

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #21 on: October 01, 2023, 06:58:40 PM »
We're literally just telling you to do due diligence, that's it.

I'm not disagreeing. I think you are offer good advice that I plan on listening to

Ah, I must have misinterpreted something. It sounded a bit like you were dismissing people's concerns, but maybe I was way off. It happens.

reeshau

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Re: Buying property in the Dominican Republic
« Reply #22 on: October 02, 2023, 07:26:02 AM »
Re: internet connectivity and working remote:

Below is the coverage map of Claro, which has the most coverage of the 3 main providers.  If you live in a city, or are driving on a major road, you are OK.  Do not expect to have connectivity is you are living on a rural homestead.  Or, you could look for satellite service, which has serious limitations and is a great deal more expensive.

reeshau

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Re: Buying property in the Dominican Republic
« Reply #23 on: October 02, 2023, 07:30:07 AM »
I also do not see the Dominican Republic in the list of countries with a tax treaty with the US.

https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #24 on: October 02, 2023, 08:00:19 AM »
Re: internet connectivity and working remote:

Below is the coverage map of Claro, which has the most coverage of the 3 main providers.  If you live in a city, or are driving on a major road, you are OK.  Do not expect to have connectivity is you are living on a rural homestead.  Or, you could look for satellite service, which has serious limitations and is a great deal more expensive.

It looks like there are a couple of orange squares on Constanza. Also, $150/month for Starlink is expensive, but might not be a deal breaker for some.

I'm not sure that would affect me personally. I would probably still work for a US company so I think I'm paying tax either way.
I also do not see the Dominican Republic in the list of countries with a tax treaty with the US.

https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #25 on: October 02, 2023, 08:40:05 AM »
Re: internet connectivity and working remote:

Below is the coverage map of Claro, which has the most coverage of the 3 main providers.  If you live in a city, or are driving on a major road, you are OK.  Do not expect to have connectivity is you are living on a rural homestead.  Or, you could look for satellite service, which has serious limitations and is a great deal more expensive.

It looks like there are a couple of orange squares on Constanza. Also, $150/month for Starlink is expensive, but might not be a deal breaker for some.

I'm not sure that would affect me personally. I would probably still work for a US company so I think I'm paying tax either way.
I also do not see the Dominican Republic in the list of countries with a tax treaty with the US.

https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

In my experience working from home in a remote region, Starlink is incredibly limited, especially if there are any fires anywhere even remotely nearby.

As a remote professional, relying on Starlink would be a deal breaker for me.

fpjeepy

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Re: Buying property in the Dominican Republic
« Reply #26 on: October 02, 2023, 08:55:17 AM »
Re: internet connectivity and working remote:

Below is the coverage map of Claro, which has the most coverage of the 3 main providers.  If you live in a city, or are driving on a major road, you are OK.  Do not expect to have connectivity is you are living on a rural homestead.  Or, you could look for satellite service, which has serious limitations and is a great deal more expensive.

It looks like there are a couple of orange squares on Constanza. Also, $150/month for Starlink is expensive, but might not be a deal breaker for some.

I'm not sure that would affect me personally. I would probably still work for a US company so I think I'm paying tax either way.
I also do not see the Dominican Republic in the list of countries with a tax treaty with the US.

https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

In my experience working from home in a remote region, Starlink is incredibly limited, especially if there are any fires anywhere even remotely nearby.

As a remote professional, relying on Starlink would be a deal breaker for me.

Why do fires affect connectivity?

GuitarStv

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Re: Buying property in the Dominican Republic
« Reply #27 on: October 02, 2023, 09:00:33 AM »
Re: internet connectivity and working remote:

Below is the coverage map of Claro, which has the most coverage of the 3 main providers.  If you live in a city, or are driving on a major road, you are OK.  Do not expect to have connectivity is you are living on a rural homestead.  Or, you could look for satellite service, which has serious limitations and is a great deal more expensive.

It looks like there are a couple of orange squares on Constanza. Also, $150/month for Starlink is expensive, but might not be a deal breaker for some.

I'm not sure that would affect me personally. I would probably still work for a US company so I think I'm paying tax either way.
I also do not see the Dominican Republic in the list of countries with a tax treaty with the US.

https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

In my experience working from home in a remote region, Starlink is incredibly limited, especially if there are any fires anywhere even remotely nearby.

As a remote professional, relying on Starlink would be a deal breaker for me.

Why do fires affect connectivity?

I never really thought about that before . . . particulate matter in the air could create interference depending on it's composition I guess?

GilesMM

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Re: Buying property in the Dominican Republic
« Reply #28 on: October 02, 2023, 09:15:32 AM »
We have had Starlink for a couple years and it is rock solid. Great product. We have had smoke but not too heavy I guess - nobody in our area mentioned issues. The previous product we had went out in the rain, which SL does not. Hard to guess why rain wouldn’t bother it but smoke might.

Archipelago

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Re: Buying property in the Dominican Republic
« Reply #29 on: October 02, 2023, 09:52:53 AM »
I'll weigh in with some anecdotal experience. My sister lived in the DR for 2 years, Las Terrenas area. I visited a few times for 2 weeks or longer. Note: Las Terrenas is a tourist kind of area, but nothing like a resort. More like a spot that's under development for tourism, but with the majority of the area occupied by locals. Here is my limited perception of the country:

1. Outside of the resorts, much of the DR is underdeveloped. You won't find the same sanitation standards as the U.S. It is not safe to drink water from the tap. My wife and I got very sick (amoebas) from consuming the water in some way or another. Very sick as in near-hospitalization sick. The sickest we've ever been in our lifetimes. You have to be vigilant about what you eat and drink. Cockroaches are also common, but this has more to do with the climate and less about sanitation.

2. The DR has plenty of natural beauty, but there is no centralized service (i.e. United States National Parks Service) that takes care of the land. Note this is not a judgement value on my part. It's a result of the country being undeveloped. Clean parks and land are not a priority when the country lacks safe drinking water and waste removal. As such, there are lots of beaches that are littered, inhabited by stray animals, unkempt, etc. The beaches are beautiful, but they are far from the pristine beaches that resorts make them out to be.

3. Poverty and lack of living wage jobs make the area heavily dependent on tourism. The locals are always looking for opportunities to extract money from visitors. Again, no value judgments. That's how it is.

4. The locals are extremely family oriented and kind. Interestingly, the part I visited tends to be quite conservative.

5. Dominican Spanish is very different from other dialects. This can be difficult to pick up for someone who has learned textbook Spanish. As an example, frequently 'S' sound is cut out from vernacular. I.e. 'Estamos' is pronounced 'Ethamo'. People will understand if you pronounce words in textbook form, but understanding people speaking that fast and in the dialect presents another set of challenges. That said, I found locals are very appreciative and patient with foreigners who make an effort to learn the language.

6. Road rules are almost nonexistent. Very few stoplights or stop signs. It's a bit of a free for all with people driving cars, riding ATVs and bikes. Beeping on the roads is second nature.

7. I have met transplants who have lived in the DR for long periods of time. Cost of living and low inflation is frequently cited for attractive reasons to live there. It's not for everyone, but for the right person it is definitely possible to thrive in the culture and way of living.

8. One thing I found fascinating was the healthcare system. No insurance companies whatsoever. You go to the emergency room or doctor, hand them cash for the service, and leave. As an example, when my sister was sick, she went to the local hospital, was seen in less than an hour, and was treated with a Dramamine shot. Her cost was $30. When we took my wife to the doctor, it was similar. The physician sees you, collects a cash fee, and sends you with a prescription for the pharmacy. Then you go the local pharmacy, hand them $5 or $10 and collect the prescription. No insurance involved whatsoever. Obviously, my anecdotes are for generalized medicine, but it was pretty eye-opening to see what another healthcare system looks like outside of the U.S. I feel like the U.S. system could really be improved if it wasn't so heavily slanted towards for-profit institutions.

9. Another poster mentioned it, but you definitely have to watch your areas. My sister will not travel to Santo Domingo unless she is with a group of locals. Even then, the locals don't advise going to Santo Domingo unless you're with people from the area, and know exactly where you're going.

If you have any specific questions, I'd be happy to elaborate. My advice would be to live there at least 3 months (and not on a resort) before even considering buying property.
« Last Edit: October 02, 2023, 10:06:22 AM by Archipelago »

Metalcat

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Re: Buying property in the Dominican Republic
« Reply #30 on: October 02, 2023, 12:27:22 PM »
Re: internet connectivity and working remote:

Below is the coverage map of Claro, which has the most coverage of the 3 main providers.  If you live in a city, or are driving on a major road, you are OK.  Do not expect to have connectivity is you are living on a rural homestead.  Or, you could look for satellite service, which has serious limitations and is a great deal more expensive.

It looks like there are a couple of orange squares on Constanza. Also, $150/month for Starlink is expensive, but might not be a deal breaker for some.

I'm not sure that would affect me personally. I would probably still work for a US company so I think I'm paying tax either way.
I also do not see the Dominican Republic in the list of countries with a tax treaty with the US.

https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

In my experience working from home in a remote region, Starlink is incredibly limited, especially if there are any fires anywhere even remotely nearby.

As a remote professional, relying on Starlink would be a deal breaker for me.

Why do fires affect connectivity?

I never really thought about that before . . . particulate matter in the air could create interference depending on it's composition I guess?

Bingo. Folks out here had a brutal time with satellite internet this summer, no matter who the provider was.

It works well enough for normal internet use, but not if you absolutely must have working video calls on a schedule. So fine for some digital nomads, life ruining for others.

 

Wow, a phone plan for fifteen bucks!