Is this a Fair Price for this house

K

kenshireen

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May 21, 2022
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casa.mercadolibre.com.do

Venta De Casa En Buena Vista Norte La Romana - $ 345,000

Hermoso proyecto de 4 modernas casas totalmente independientes, ubicados en la zona mas exclusiva de La Romana/ Buena vista norte Excelente para Inversión o para vivirMetros por residencia 145.25 - 1er nivel127.85 - 2do nivel273.10 - Total m2 construcción Metros extras en arqueos por casa 1era -...
casa.mercadolibre.com.do casa.mercadolibre.com.do
I am in the US but this seems like a rather steep price for these houses.
I know it is a good area but still...
 
I

irishpaddy

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Sep 3, 2013
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If i was buying a house ...whether the price was fair would be up to me .......not up to strangers that are not putting cash up .
Definitely not one i would choose .....beauty is in the eye of the beholder
 
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j_d66

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Nov 1, 2012
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First and foremost have you been to that exact location to see if it is a desirable area that you would want to live in.
It's only 273 meters with 3 bedrooms that's like 900 sq ft total over 2 floors
You would be paying for something that in their ad they are basically saying won't be done for a year so plan on it being a lot longer and likely more expensive in the end.
What is the reputation and experience of the builder
Have you looked at what else can be purchased for 345,000 in La Romania that is complete and ready to move into. I have and there seems to be alot available.
How much time are you planning to stay there. Perhaps renting would be better to start out
 
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K

kenshireen

Active member
May 21, 2022
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j_d66 said:
First and foremost have you been to that exact location to see if it is a desirable area that you would want to live in.
It's only 273 meters with 3 bedrooms that's like 900 sq ft total over 2 floors
You would be paying for something that in their ad they are basically saying won't be done for a year so plan on it being a lot longer and likely more expensive in the end.
What is the reputation and experience of the builder
Have you looked at what else can be purchased for 345,000 in La Romania that is complete and ready to move into. I have and there seems to be alot available.
How much time are you planning to stay there. Perhaps renting would be better to start out
Click to expand...
Yes, I am going to rent for one year to get my feet wet.
Does it make sense to go through a real estate agent to find a rental or just drive around looking for se aquiler signs
 
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reilleyp

Well-known member
Dec 12, 2006
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Also go with an attorney from outside the area and the owner to the courthouse and ask them to print out a copy of the title.
 
CristoRey

CristoRey

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Apr 1, 2014
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If there is one piece of advice you should follow from folks on DR1 rent, rent, rent. Do not buy or even suggest to a local that you are interested in or may be interested in buying at some point in the future. I recommend you rent for at least three years a neighborhood you like before purchasing property down here.
There are far too many reasons to list but trust me when I tell ya, you'll be much happier down the road.
 
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windeguy

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Jul 10, 2004
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j_d66 said:
First and foremost have you been to that exact location to see if it is a desirable area that you would want to live in.
It's only 273 meters with 3 bedrooms that's like 900 sq ft total over 2 floors
You would be paying for something that in their ad they are basically saying won't be done for a year so plan on it being a lot longer and likely more expensive in the end.
What is the reputation and experience of the builder
Have you looked at what else can be purchased for 345,000 in La Romania that is complete and ready to move into. I have and there seems to be alot available.
How much time are you planning to stay there. Perhaps renting would be better to start out
Click to expand...
273 square meters is 2,939 square feet, not 900.

Who is designing houses these days? Russians?

Rent first, be sure of title, etc as others advised.
 
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chico bill

chico bill

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May 6, 2016
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It seems to me people are overpaying for property here now. At some point there will be a sudden reversal especially in a country that can't deliver water to over half the residences now
 
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Y

Yourmaninvegas

Well-known member
Feb 16, 2016
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I look how much are you paying per square meter.
Yes there are other factors.
But in the end you are just paying for four wall and a hole.
I don't get much more attached to deal I haven't made.
I stick with the numbers.

345,000/273 square meters = 1263.74 USD/m2

IN MY OPINION that is just slightly higher than the 1000 - 1200 USD/m2 I have found for gringo properties.
I have not looked at house so I only know the apartment market.
Nor do I know the La Romana market past my own personal research on apartments there.

Dominican style apartments run 600 - 800 USD/m2
I reviewed an apartment for sale in La Romana.
Dominican style
875 USD/m2
Personally I thought it was a good deal.

And remember the top line number is not all you are going to pay.
There are closing costs and taxes specific to your property and deal.

I good attorney will vet the deal for you after you decide upon the price.
If you are going to get a loan the bank will decided how much the property is worth.
But it will serve you will to put "boots on the ground" and put in some leg work.
But not until you are certain of the area you wish to purchase.
And remember...there are different cultural standards here.
Once you buy, you are stuck with those close to unless you gots some land with the property that insulates you and that gives you elbow room.
CristoRey said:
If there is one piece of advice you should follow from folks on DR1 rent, rent, rent. Do not buy or even suggest to a local that you are interested in or may be interested in buying at some point in the future. I recommend you rent for at least three years a neighborhood you like before purchasing property down here.
There are far too many reasons to list but trust me when I tell ya, you'll be much happier down the road.
Click to expand...
Real talk.
I'd pay attention to what the man said.
 
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Yourmaninvegas

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Feb 16, 2016
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chico bill said:
It seems to me people are overpaying for property here now. At some point there will be a sudden reversal especially in a country that can't deliver water to over half the residences now
Click to expand...
There is no such thing as overpaying in the long term.
The Kia driver will always tell the BMW driver they overpaid for their car.
Value on something as important as a property you plan to use personally cannot be measured by others.
But you should also keep in mind that in the long term we are all dead.
 
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bob saunders

bob saunders

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Jan 1, 2002
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dr1.com
j_d66 said:
First and foremost have you been to that exact location to see if it is a desirable area that you would want to live in.
It's only 273 meters with 3 bedrooms that's like 900 sq ft total over 2 floors
You would be paying for something that in their ad they are basically saying won't be done for a year so plan on it being a lot longer and likely more expensive in the end.
What is the reputation and experience of the builder
Have you looked at what else can be purchased for 345,000 in La Romania that is complete and ready to move into. I have and there seems to be alot available.
How much time are you planning to stay there. Perhaps renting would be better to start out
Click to expand...
Where did you attend school. 273 sq meters is 2,938.5475 sq feet. That is a pretty decent sized house.
 
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MariaRubia

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Jun 25, 2019
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One thing that always worries me about buying off-plan here is the tendency to forget to mention that they are intending to build another building right slap bang in front of that lovely view you have. They do that all the time with the tower blocks, they build one and then once it is sold they stick another one up inches away.
 
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