"Reasonable Income" - Cost of Living

[gringo1]

I think renting is agood idea before buying and or building here, especially if you haven´t spent much time here. The various areas of the island can differ greatly, as well as property costs. Generally, other than Santo Domingo and Santiago, the more developed in tourism an area is, land prices follow in price. But rentals continue to be inexpensive compared to stateside prices. And costs of construction are a fraction as well. But just like anywhere, this place a little while to get the hang of and testing the water depth first is usually better than diving in head first.

[piranha]

Hi there. I am a new member to DR1, currently living in the UK but moving out to the DR in the next 2-3 months. Firstly, like many others, I’d like to say a massive thank you to DR1 and all you forum members – the site is hugely helpful and massively appreciated! Keep up the good work!

I do still have a few questions though and I have posted a few different messages across the forum – I hope you guys don’t mind and I really hope that you can help me out. I have spent many hours reading through the whole site and message boards thoroughly - and used the search button! - in the hope that I don’t waste anyone’s time or ask the same questions yet again!…


Cost of living:
I appreciate that there have been many discussions and more than a few slightly-too-vague ‘how much does it cost to live in DR’ posts in the past. However, I am drawing together information from many different places in the hope of getting some realistic feedback without covering the same old ground. Some if the information that is already on the forum regarding costs appears to be out of date and elsewhere this topic may have been covered but the responses varied hugely. So here goes…


For your reference, I am a single guy, living on my own. I will be out at work 6/7 days a week (7.30-5.30), so I will only be home in the evenings. I will own a budget car that is paid for. I will be able to eat breakfast / lunch and dinner at my workplace. I will socialise a couple of evenings a week, involving a reasonable meal in restaurant and a few beers. I am looking to rent a 1 or, if possible, 2 bedroom apartment in the Punta Cana / Bavaro area with the following facilities: fully furnished, all appliances (washing machine, refrigerator, oven etc), air conditioning, fast internet, telephone, cable TV, shower, burglar alarm, inverter / generator and parking - in a secure & safe complex / neighbourhood.

All costs are per month.

Rent (Inc maintenance fees) US$650
Food US$100
Fuel (TBC - Subject to mileage)
Electricity (Inc air con) US$50
Telephone US$15
Water ???
Health insurance (Fully comprehensive) US$70
Dental costs US$15
Shopping (Clothes etc) US$50
Motoring (Servicing & maintenance) US$50
Entertainment (Socialising) US$300
Motor insurance ???
Home insurance (Comprehensive) ???


And if not included within US$650 Rent:

Cable TV US$20
Internet (High speed) US$60


- Please tell me, are my figures above realistic?

- Are there any other expenses which should be included that are missing?

- Any realistic estimates on the ‘???’ sections would be most welcome!


Many thanks.

[batich]

My opinion is a bit different from the mainstream.

If you are enough independent financially and can live without income from any real estate growth - do not buy nothing ever. Neither land for construction nor ready homes.

Yes, some people may make money from investing in RE. But some may not. May even lose.

So, investing in RE is just another risk or stress for you. And especially investing in DR.

If you are wealthy enough - RENT only. At some point rent might go up or maybe not. Sure.
But who cares if you have money?!

Only with rent you have the real peace of mind. You just do not care.

Whatever happens to the building where you live, or to the country in general or to its economy or to its political system - it does not affect you.

Insted of repairing roof you take your laptop and rent another house.

Instead of trying to sell your property if a big and unregulated development started nearby that destroys the environment - you take your laptop and rent in a diffferent unspoiled place.

Instead of hiding in the basement during riots and public unrest (that are very possible in a poor corrupted country like DR) trying to save your property - you take your laptop and go to Luperon Airport and to sunny Florida to watch from there and to wait when it is over.

Right, without investing in RE you might miss another profit opportunity. But listen, you cannot grab all the money in the world. And no matter how much you accumulated you cannot take your money with you to the other world.

So, what is the point to come to a relaxed and laid back and lazy place like DR and keep yourself in the rat race and stress like in NY??!!

To my surprise I met some stressed out people even in DR!

You arrived to paradise, why to create the hell in your life?!

Rent them all and leave them behind without a single regret and without losing a dollar if something goes a wrong way.

Own nothing but a laptop and a Visa card in your pocket!
__________________________________

If you are poor and cannot afford JUST TO LIVE this is a different story.

You have to buy and to invest in RE in hope to make some extra money to help you survive.

Originally Posted by Wafudude

Hi everyone! I am new to this forum and have enjoyed picking through the threads for the last hour or two. It looks as though people are prepared to give an honest opinion, which is good, so please don't be too harsh with my question:
I notice that a lot of advice is given to "rent for 6 months to a year" before buying and also that you really need to have a "reasonable source of income" in order to live in the dominican Republic. This is obviously sound advice but my question is (and it's been a long time coming I know)... With no mortgage to pay...what is the general concensus of the figure that represents "a reasonable amount"? My wife and I are looking at various options around the Caribbean for an early retirement and the Dominican Republic is one of those options.
Many thanks!

[La Mariposa]

Originally Posted by Hillbilly

I find $9000 for help to be outrageously high!! They saw you coming!!!

We pay our lead cook and housekeeper very well, and she makes slightly less than $5000 a month, Plus food. Her assistant gets $150 a day up to 6 days a week. The part time gardener gets $300 a day. No live in help...

And by local standards, we pay well. Our cook has been with us for more than 15 years. But, and this is important, we are not ex-pats.....

HB

I find the $9000 outrageously high too.

We pay a hired help $1500 monthly for once weekly(cleaning the house, doing the laundry and cooking).

As for the part time gardener we pay $350 a day but you should see our chinas, mandarinas, toronjas, chinolas, mangos, limon, agrias. We even have platanos, rulos, guineo. And how about our huerto with rabanos, rucula, nabos,verduras, tomates, pepinos... We are not dominicans but we are considered as natives by the dominicans. Don't think that the $350 is too much.

Oups, I forgot the yuca, all the flores and so on and so on..

[planner]

Piranah - I think your electricity is low - A/C uses a lot. And your phone will most likely cost you more. I assume you are referring to a cell phone. I would budget 100 for electricity and 50 (or more) on phone.

[MommC]

We only live there 5-6 months per year however we maintain our Canadian lifestyle while there, including golf club membership, restaurant meals 3x per week, travelling to various parts of the island, groceries,'entertainment', 4 wheel drive vehicle, A/C, cable, cell phone, internet, daily maid, etc.
Only thing we don't have is medical insurance (next time for sure!:-0).
So not paying rent (we own) we spend CAN$2000 - CAN $2500. per month while there - or approx. what we spend at home in Canada.
In pesos it works out to about RD$26000. - RD$30000. per month.

[piranha]

Sorry to be a pain, but further to my earlier post. I would really appreciate your feedback on my specific circumstances and potential costs. Please!

All costs are per month.

Rent (Inc maintenance fees) US$650
Food US$100
Fuel (TBC - Subject to mileage)
Electricity (Inc air con) US$50
Telephone US$15
Water ???
Health insurance (Fully comprehensive) US$70
Dental costs US$15
Shopping (Clothes etc) US$50
Motoring (Servicing & maintenance) US$50
Entertainment (Socialising) US$300
Motor insurance ???
Home insurance (Comprehensive) ???


And if not included within US$650 Rent:
Cable TV US$20
Internet (High speed) US$60


- Please tell me, are my figures above realistic?
- Any other expenses which should be included?
- Any realistic estimates on the ‘???’?


(For your reference, I am a single guy, living on my own. I will be out at work 6/7 days a week (7.30-5.30), so I will only be home in the evenings. I will own a budget car that is paid for. I will be able to eat breakfast / lunch and dinner at my workplace. I will socialise a couple of evenings a week, involving a reasonable meal in restaurant and a few beers. I am looking to rent a 1 or, if possible, 2 bedroom apartment in the Punta Cana / Bavaro area with the following facilities: fully furnished, all appliances (washing machine, refrigerator, oven etc), air conditioning, fast internet, telephone, cable TV, shower, burglar alarm, inverter / generator and parking - in a secure & safe complex / neighbourhood).


Thanks very much.

[Dre Broeders]

100 Dollar for food a month????????
I need 750 Dollar a month for two persons.

[piranha]

US$100 per month on food might indeed be totally unrealistic, however please bear in mind that, as I said, I will be able to eat breakfast / lunch and dinner at my workplace - for free. Hence the low figure.

US$750 = US$375 each. That's nearly £200 each per month. I don't spend that much on me now in the UK! Is it really that expensive?

Thanks for the reply, by the way.


Any feedback on all of the other questions and my questions??

[La Mariposa]

Originally Posted by Dre Broeders

100 Dollar for food a month????????
I need 750 Dollar a month for two persons.

He said he'll be able to eat at his workplace, gracias a Dios