Want to buy in DR - please help!

[nora]

hello,i am thinking of buying a villa in the DR with the intention of renting it out for holidays for most of the year and also staying there myself for months at a time.Can anyone give me any information generally ie good areas for buying with a view to rent, security, legal issues etc absolutely any information would be most welcome - thank you.

ps i am an Irish citizen living in Ireland(if that has any relevance)

[Robert]

I suggest you read all the info in our real estate section and also in this forum so you have a better idea about the DR.

Dominican Republic Real Estate - Moving to the DR

Also this thread.

What Everybody Should Know Before Investing in Rental Property!

[KeithF]

The first piece of advice I would give is...

Don't buy if you will be relying upon the rental income to pay the mortgage and/or the fees. Budget for zero rental return, then anything you do get is a bonus. I've bought my apartment in Cabarete [ Royal Residence Cabarete ]instead of a pension, so even if it is empty, I would be putting the money into a pension scheme anyway. When I do pick up a rental, that's great.

Incidentally, last week I had a rental in, the first one to contact me via DR1 listings, so that one rental has more than paid for the listing.

[retiree]

My experience from 8 years renting out condos is that if you reduce the price of the rental many more weekly or monthly rentals will come your way. Better than charging top dollar and waiting and waiting for a rental. However, I agree that covering costs should be the main goal in renting, not producing income.

[bebeto007]

Anyway I can recommend you Sosua and f.ex. Playa Laguna as good area to invest. There you have private beach, nice neightbours and walking distance to the town of Sosua. If you want to know more detailed stuff, please send me PM and I can share some experiences. (Bought my own villa less than year ago)

[John Evans]

I would recommend not listening to anyone on here and coming to look around yourself- some people will try to steer you to any old area they are trying to flog

[leekiv]

Originally Posted by John Evans

I would recommend not listening to anyone on here and coming to look around yourself- some people will try to steer you to any old area they are trying to flog

Look on your own, and best of luck,( even though this thread is from March 31, 2008, just in case).

[mountainfrog]

Originally Posted by leekiv

... best of luck,( even though this thread is from March 31, 2008, just in case).

So, let's hope Paddy wasn't done in already...

mountainfrog