Buying a home in the Dominican Republic
Your new home can actually pay for itself whether it is intended as an investment or for use as a vacation property or a home in which to retire. There are many attractive offerings in a variety of residential projects, and the fact that the Dominican Republic has become the leading tourist destination in the Caribbean makes the process of buying a home here that much more satisfying.
Making the Process Simpler and More Attractive
One well-known residential community, whose very successful rental and management program have operated smoothly for two decades, offers a prospective home-buyer several ways to ownership. With prices for a 2-bedroom vacation home with swimming pool in a gated community starting under US$120,000, it is no wonder that this project, and others like it, have found many happy clients from North America and Europe. Located near the famous kiteboarding, windsurfing, surfing and diving towns of Cabarete and Sosua, the homeowner has immediate access to great beaches, world-class restaurants, and a varied shopping experience. Some features of a typical villa-buy program are:
- 30% down payment
- Financing available from developer
- Guarantee of 6% to 10% of purchase price back to buyer each of first two years
- Reasonable rental program commissions
- Leave your home secure in the care of the project
- No restrictions on occupancy percentage by owner
- Easy to access your Caribbean property from North America and Europe
Several options are available to the prospective home-buyer. Bank financing through reputable institutions such as Scotiabank is available, both for new home construction or purchase of an existing home. Mortgages with 20-25 year span may be had. Banks will often finance up to 70% of appraised value and will loan up to US$1,500,000. Some developers also offer to finance of up to 60% of the purchase price
Caribbean Lifestyle and Amenities
The Dominican Republic, unlike most Caribbean countries, offers first-rate medical care at extremely reasonable cost. Here, you can afford a maid three times a week while shopping for fresh produce, fish, and other food products at prices that will amaze you when seen against prices “back home”. Modern telecommunications, IT services, and banking combined offer a high level of accessibility to the rest of the world.
Select Caribbean Properties, working with great developers, will answer your questions and steer you in the direction you have long dreamed about…owning your own piece of Caribbean paradise!