Punta Cana residents

Norm and Shauna: I will be moving over there by the end of this month or at the latest the first week of march with my wife , Punta Cana and Sosua sector is not a bad choice, maybe log in onto some realtor property sites for visuals and do some google imagery  to see visuals . For me people are people no matter where you go . I am from Texas and my wife is from the Baltic estates totally different cultures per say , but we are the same if that tells you something ?. I am not in liberty to refer you  to a friend from down there  he is a realtor a good christian and I trust him because I  do not think the forum allows it. I am all for a change myself and my wife . once I am there I will tell you more about it, for now depends where you are? the cost of living  down there is relatively good , housing is good the rest is what you want out of life . maybe someone else in the forum will add some comments . Blessings Krumite

Well me to the forums.  There are a number of posters who are or were in Punta Cana.   I have been there many times but never lived in Punta Cana.  Closest I came to living there was LA Romana, very different to Punta Cana.

I am back and forth from the area and love it.

I am happy that you appreciate it , is a plus for you to share your opinion , there is plenty of negative in this world and no place is a paradise but it could be close. Krumite

Hi Planner,
You are so knowledgeable and in touch. So happy for your contributions and for keeping things real.
Much appreciated
Cathay

Thanks!

Hey Folks,
We’re here in Bavaro for our first long-term stay.  We were going to stay a month until mid-March but thanks to Canada feds trying their hardest to kill the Caribbean economy and make Snowbirds’ return as difficult as possible we decided to come early and stay until end-April.  Better than sitting home in the snow  !!!

Because of the covid were pretty much just keeping to ourselves, but next winter we hope to meet people and get a little involved in this community.  For now though, walking a lot, enjoying beach days and exploring while avoiding public transport

Cheers - Odie & CiCi

Please leave the political commentary for other threads.

Odie & CiCi:

It's great to hear from someone currently on the ground in Bavaro. My wife and I are traveling there on April 2-12, as we are planning on researching the market, looking at potential properties (condos) and lots of relaxation. We are staying at the Estrella Del Mar complex (El Cortecito) hoping to get a feel for the tourist area but interested in looking outside that area also.

Would love to hear more of your experiences so far, the good, bad and the ugly, We understand no place is utopia, but also are going into this with eyes wide open and a desire to invest in a long term adventure that is right for us. Any and all information we can take in is part of this decision.

Thanks in advance and maybe we will have a chance to meet someday.

Allen & Lorie

Hi Norm and Shauna.

I am Canadian living in the Punta Cana Bavaro area.  Feel free to send me a private message and I will do my best to respond.

Cheers,

Whoops, sorry about that Planner.  I’ll edit it...

All good honey!  Thanks.

I'm from Toronto living in the Bavaro area for over 2 years now.  El Cortecito has a beautiful beach and is a nice tourist area with many restaurants, bars, small hotels and large resorts, mini-supermarkets.

Kmartin not sure what happened to your post!?!?

we are planning it all right now

We just purchased a villa in Bavaro. We were there from July 28 through August 21. It was a great trip with many sites to see and beaches to explore. Although we spent most of our time setting up the villa (still didn’t complete what we wanted) we still got out and about. It’s an excellent location for expats and lots of growth potential. Items seem to be more expensive then the rest of the island but we still found some good deals.

Does anyone know of someone that works for a reputable bank ? I am looking to purchase a home but I want to finance some of it

Any help would be greatly appreciated

Thank you

Getting financing here from a bank is very very tricky for expats.  I will ask my banker if they do any of it.

Maybe try a new home where they are already providing financing w a bank, that may be easier.

Thank you

Banco BDI does but to open an account there you need a referral (best to use a local person) if you know one.
it has not been difficult for us so far and we are about to get out visas, its been a seamless process so far, hope it continues to go smoothly.

Ok thank you so much. and I hope everything goes smoothly for you guys. I believe it will

Thank you

Rich

Opening an account is not getting a mortgage here or a loan. Very very different questions.

Rich - do you have residency??? If so then the bank I deal with will consider on a case by case basis. No residency they will not even consider it.

True I meant to say you must open an account first as we did then this particular bank will do loans for expats assuming you qualify.

I was able to get a loan through APAP. Non-resident and no other association with the country. I can send you some information if you are interested. I just purchased a home at Primaveral Residences II in Punta Cana. The loan process was pretty much straight forward and not too much more hassle than the USA. I only opened the account after getting approval for the loan.

Hello.  Hope all is well.  Do you mind sending me the info for APAP ? I am looking to purchase a home in DR also

Thank you so much


Rich

Was this loan specifically  connected to this project?

Please send me the loan info.  Gary 🇨🇦

What is APAP? Just Curious. Is it an American or Dominican loan program?

Popular Savings & Loans Association

It's a Dominican savings and loan company.

Si!!

So you can get a loan for non residents? Even know I am in the process with with residency

Thank you

@wendyandrey

If you would, please send me info on APAP as well. Thank you!

All of us can contact APAP directly.

My guess is this is attached to a specific project. 

That said Bancamerica is now looking at each case on its own merits.  They will consider non residents with at least 50% deposit.   I was told residents have a better chance and would also require 50% down payment.

Be ready for mortgage rates that are not anywhere near what you expect.

@planner no. APAP was actually my second option and we were not tied to the project.

Good to know!  Maybe the doors are opening a little bit!

Hi again. Going to reply back individually to the ones that reached out. For the story to sit correctly, my wife is Dominican born but holds a USA passport as do I and our children. She doesn’t even have her cedula. We were initially looking up north around puerta plata and surroundings but found nothing we liked nor in our price range. My wife’s cousin works for La Comarca realtor in Santiago and they assisted in locating our villa. The are based in Santiago and is where they have better understanding of everything but they were able to find our villa in Punta Cana. When we decided upon Primaveral Residences, they have their own builder financing but it didn’t suit us. We were allowed to get our own financing and we looked at Banco Popular first and they had some great options but we also looked into APAP, they were quick with service and had good deals for the country (rates can be as high as 15%!). We got a bit better than that. Now , of course, we can’t get prime financing like in the USA but it is a good deal. As stated earlier, they only require good credit and stable income and proof you can provide the down payment and closing costs. As Planner stated anyone can reach out to APAP. They have more offices in la Capital but have branches elsewhere.