Thinking of buying a Condo

I could go on a long diatribe about cultural risks and, well, the plethora of other risks you face moving to a foreign country. But, I will just say this. Do NOT invest any money or even rent somewhere you have not stayed before, and preferably stayed for some time. There are some other recent threads on this site that explain why, so I will not repeat.
And why would one want to move somewhere permanently not having experienced the culture. Vacationing somewhere and living the dream in your head is so much different than living somewhere and getting along day to day.

Good morning and welcome to the forums!

Absolutely come and see things for yourself!!!  Pictures don't tell the whole story.  They can't.  This apt may be everything the realtor says it is. And it can still be wrong for you!!!

La romana is a nice place to live.  I lived there two years and enjoyed it.  There are better areas and places I would never live. In. 

You need to come down here!

Yes. I would definitely recommend you visit first.

I agree with the opinions above! Not only do you need to spend some time in the country before making a decision to move here, but you really need to see a property before investing! And before choosing a particular city here in DR, I'd encourage you to visit a number of locations, spending at least a couple of weeks in any you consider to really get a feel for the town.

I agree with everyone about coming to stay first.

We looked in various parts of the Caribbean for many years before settling on the DR.  Then took several vacations to various parts of the island before deciding on LT.

And then looked at everything in LT before buying.

You definitely want to make sure the community, location, proximity to stores, etc is perfect for you before buying.

Buyers remorse isn't as easily remedied here as in the US.

Hello Monique,

I am a Canadian realtor who lives in La Romana every winter and sells real estate in the gated community of Casa de Campo, next to La Romana.

Under no circumstances should you ever buy real estate without walking thru it first. In fact, I suggest you visit the country and rent for a year to be sure it feels right for you.

You never know what can happen down here and selling is much more difficult than buying. ***

Sorry John we dont allow  posting of  emails or  phone numbers!

I have been visiting the DR 4  times a year for 7 years. I started in La Romana and have stayed in all parts of the country for weeks at a time. DO NOT just buy something. You can use "Home to Go" Air BNB or others to stay in great places very economically. Travel the whole country. If you want specifics PM me. More than glad to help. I finally made a decision and went through the residency process recently.

Vacationing in DR is so incredibly different than living in the DR.  Even if you live in a resort, you can be miserable.  If you want a place to deposit your money, write me, I’ll take it!

Okay  Bockri  your comment made me laugh out loud.  I have said this many time.   You must come and stay for a few months and NOT live like a tourist to  understand what living here is actually like!   

It is not for everyone.   We do not want to see people waste and lose money!

The last few postings are spot on. Denise and I are happy here but I just cannot imagine most of the Americans I know being satisfied living here. So many differences in culture and day to day living.

Has anybody here purchased a condo or villa and rented it out long term? I've been looking at Cocotel at 3 bedrooms with pool. However, I've noticed a lot of availability for sale and rent. Is there a glut of vacancies?

Thanks,

Jordan

Rental prices are lower than what sales prices go for in my opinion. October to April is prime season with many Canadian snowbirds looking for 4-6 month rentals.

Some more vacancies and researching should give you answers on reason why. Hidden gem or fools gold?

Let's remember that we are still in a pandemic.  It has effected rental vacancies as well as sales.

I would love to connect with other owners who rent out their unit in Cocotal if there are any here.

Jordan

We're in Las Terrenas but we are having our best year yet for rentals! Starting last September, when we began bookings again post the COVID closures, we have been booked every weekend, and we've had several folks that have rented for a month at a time. I've actually raised my nightly rate (never lowered for COVID) and reduced the discount for weekly and monthly stays and we're still booking every weekend!