Buying a condo on Northern coast

Welcome to the forums Patricia.  I am on the other coast so will let our northern members comment for you!

Welcome to the forum. To answer your question yes it can be done but you have to be careful and plan your purchase well.  Remember location (especially for rentals) is probably more important than price.

We actually bought a condo in Ocean Dream in Cabarete and lived in it for a year while building our villa. We now use it as a rental unit and because of location, our hard work, keeping the place maintained and such keep it pretty much rented all the time.  Occupancy for last year was about 80% and it does put money into our pockets every month.

So yes it can be done.  We retired here full time just over 8 years ago now.

Have you been here to the north coast before or the DR before?

You will find lots of good folks here on this forum with lots of good information. So just ask away

Bob K

Hi Bob K. ,

Thanks for your response. So, if location is very important, which area do you suggest? we are looking for a condo with a walking distance to the beach.  And I noticed that most complexes have security. I  had researched the crime rate in DR but did not find the rate to be very high.  is there a particular reason for this security?

Any reasonable condo complex will have security and this is most important if  you are either renting or if it will be empty for a period of time.

I would recommend Cabarete for your needs.  What is your budget.

Have you been here to the north coast before?

Bob K

Thanks !  It seems that Bob K  is very knowledgeable ! so helpful !

Thanks !  It seems that Bob K  is very knowledgeable ! so helpful !

Thanks !  It seems that Bob K  is very knowledgeable ! so helpful !

Hello again Bob K.  !

To answer your question.. no, we have never been to the DR but we know several other countries in the Caribbean . We will be coming next year for a visit but we have researched extensively the DR and so far, DR is our favorite place for our retirement .   I agree with you, Cabarete and surrounding areas seem to be the best.
we are planning to buy a condo for now.. probably one bedroom , on the beach unless it is easier to rent the condo with 2 bedrooms. I still need to research this subject.  It is just the 2 of us  so we don't need a big place . and being both from Europe, we are used to smaller living quarters compared to the US.  Our budget is $80.000 to $110, 000..
I am working on a list Bob of things to ask you..  ! be ready !! LOL 
Thanks a lot for sharing all your knowledge !

Bob is a wealth of knowledge.

As a long timer i will advise you to rent at least 6 months before buying.  Research is great but first hand experience here is irreplaceable!!!

You are welcome. How long are you coming for on this first visit.  Living here is vastly different from visiting as a tourist.

Feel free to ask away

Bob K

we are thinking a stay of 3 weeks.. It is impossible for us to stay longer.

My advice is DO NOT BUY.  Get to know the areas first.  Don't rush into anything.

Why rush, prices are pretty low and I don't see any real increase for a long while.

I have just rentered a large villa with 2 lounges, 4 bedrooms all with bathrooms and huge pool for $1600 per month.  Conversely you can rent a 2+2 for 700$ per month.  DON'T RUSH IN.

warm regards

Ducketts

Yes do rent first and explore your options.
As to staying after 30 days there is an exit fine.  30 -90 days is $800RD (pesos or about $18.35 US each.

Bob K

Yes, we have bought 2 properties there, we r from Canada n love it there!!
The key is a good realtor n a good lawyer
And for the condo LOCATION! LOCATION!
24 hr security....

Thank you all for your insight. I am pretty sure we will follow the advice of renting first and not rush. However, I will continue bugging you with more questions as they come up in my head ! LOL

Dreamgirl we dont put emails out on the forum. I am having it removed. Use private message for your own protection.

Ducketts - I am waiting for my invite to a party????

And please continue to ask your questions. We are a pretty good group and we have a lot of info between us here, and what we don't know, we will go find out!