Buying Condo in Sosua

suegailrue · #1 04-12-2008, 12:16 PM

I have been watching this forum for a while and finally decided to post. Information on this forum has been valuable.

We would like to buy a condo in Sosua. We have been in touch with a Realtor from Watson Homes and he is recommending a 1 bdr condo in Carlos Residencial. Does anyone have any feedback on location and condo association etc.

I have read "Shopping for a Condo", Buying in the Dr etc. (very helpful). Renting it out would be very nice, but we are not going to depend on the income as suggested.

After reading Rocky's top three condos I am leaning towards his advice. We want something that won't break the bank, good location (easy access to beach and town) internet access, good community, no road or party noise.

Also, is it politically acceptable to deal with more than one Realtor?

We will be coming down April 29 - May 6 to check out properties.

Would like a minimum of 1 bdr, but may be willing to renovate something if that is possible to create into a one or two bedroom place.

Thanks

Robert · #2 04-12-2008, 01:04 PM

Many first timers often deal with more than realtor, especially as you don't know who is good or bad.

You should add Curt Erickson to your list of realtors. He lives in Sosua knows real estate, well liked and respected. He is the only guy we allow to represent DR1 on the north coast

I'm sure a few people on this board will vouch for him, especially those that he worked with to get great deals.

Email: curt@dr1.com

catcherintherye · #3 04-12-2008, 01:15 PM

I know Curt personally and professionally. He is honest, sincere, and very helpful. He was one of the first people I met in Sosua, and he has proven himself to be consistantly straight-foward in all the dealings I have had with him. He is also an artist and a very funny guy. Did I mention he's good to his mom? Seriously, Curt is the real deal. He's a guy you can trust.

suegailrue · #4 04-12-2008, 02:03 PM

Took your advice and sent message to Curt's office. Also got a reply from donquixote for his condos.

DR Mpe · #5 04-12-2008, 09:41 PM

Quote:

Originally Posted by suegailrue

We would like to buy a condo in Sosua. We have been in touch with a Realtor from Watson Homes and he is recommending a 1 bdr condo in Carlos Residencial. Does anyone have any feedback on location and condo association etc.

Beware, the roosters and the dog next door do not like eachother... Maybe they are gone...

suegailrue · #6 04-12-2008, 11:32 PM

OK. I love this post. I will definitely listen for the rooster and dog.
I'm taking your comment seriously, however, when I read this, it cracked me up. I love it. I did notice a field there. Now I know what else is around. I'm gonna love checkin this out. Thanks for the heads up.

I hate roosters, and barking dogs don't fare much better.

You guys are an awesome fount of info.

Thanks Again

DR Mpe · #7 04-13-2008, 06:56 AM

Quote:

Originally Posted by suegailrue

OK. I love this post. I will definitely listen for the rooster and dog.
I'm taking your comment seriously, however, when I read this, it cracked me up. I love it. I did notice a field there. Now I know what else is around. I'm gonna love checkin this out. Thanks for the heads up.

I hate roosters, and barking dogs don't fare much better.

You guys are an awesome fount of info.

Thanks Again

2-3 years ago, there were Dominicans living there (to the left going in). I had a friend there and he moved after a month... Tip, rent an apartment there first. It is a about 450- 600 a month, then u know way more. They are nice apartments, I like the layout and the big balcony, some people are afraid of the road downthere night time. However, do not rent from a older lady there that has some apartments. I had two friends that lived there recently that got robbed.

DRob · #8 04-13-2008, 09:11 AM

First, welcome to DR1!

I definitely agree that you should rent first, preferably for at least six months (longer is better).

During that time, look for complexes that rarely seem to have a unit for sale, and usually are rented out (like El Neptuno). Those are the spots in demand, and the properties that will most likely be more financially viable (in terms of future rentals and/or resale).

Also, if there is any way you can get at least two bedrooms, it will help you to rent the space out, and re-sell it in the future. Couples often travel in packs or with their families. Guy or girl trips happen with multiple people. Either way, the extra space will help you to rent it out should you choose to go that route.

Best of luck!

suegailrue · #9 04-13-2008, 09:55 AM

Unfortunately, we aren't in a position to rent for six months. We still have a business to run at home. Secondly, our first time budget doesn't run towards El Neptuno. (I've looked at the units and there awesome). From what I've read, The Tradewinds, the Palms and El Neputno are some of the best for associations and management. We are basically looking for something we can use for holidays and rent the rest of the time. Family orientated, so we can bring grandkids. We would prefer a 2 bdr but I haven't found a two bedroom that meets our requirements in a good location. I was thinking of maybe, if it was a large 1 bdr, converting it to a 2 bdr, or two studios and converting them. Would I even be allowed to do that depending on the Association bylaws or management.

My biggest concerns are:
Management and Association
Location
Internet
Being able to sleep at night without vehicle traffic or parties all the time.
(Or dogs or roosters).....We rented a condo once (Not in Sosua) that every night between 3-4 am, there was so much noise, it woke everyone up.
We are not going to depend on rental income (just as a precaution)

As first time purchases in DR, we kinda wanted to start out small and safe, that's why I took the plunge on posting. To get as much info as possible. All your advice is helpful. And except for the 6 month rental idea (that would be great too if we could take off that long) is definitely
causing me to lean in a certain direction.

Thanks for all your help and recommendations. I am taking them to heart.

DR Mpe · #10 04-13-2008, 10:51 AM

Reading your post... why buy?? Why the hazzle?? I have stayed in both Palms and Trade winds. In Trade Winds the maintenance and electrical bill was very close to what I paid in rent... And then the fridge breaks... ok not my problem... Now I know the rent gone up at i.e. Trade Winds, still better deal for you. My two cents.

Soon there will be a lot of condos to rent in Sosua/Cabarete with all the construction going on...