Buying a Property

The government of the Dominican Republic welcomes foreign real estate investment and has passed many laws designed to protect these investors.  Purchasing a vacation home in the Dominican Republic is pretty straight forward, not all that different from purchasing a home in any other location.  You are allowed to own the property outright (some other countries do not allow this) and can hold it either in your personal name or the name of a corporate entity.

When you purchase a property such as this vacation home for sale you are able to obtain a title for the property.  The title is guaranteed by the government and, as extra assurance, you can often purchase title insurance from well-known title companies such as Stewart Title and First American Title.

Retiring in the Dominican Republic

Should you be in that position of your life to retire, the Dominican Republic may well be one of the most desirable places in the Caribbean to do so.  The Dominican government has even passed laws referred to as the “Fast Track Retiree Law” designed to help you with a move to this island paradise.  For example, you are able to claim an exemption on import duties for household goods (incl motor vehicle), a 50% reduction on any property taxes and even exemption from transfer taxes on your initial purchase and even more exemptions.

Make sure you retain a good attorney, one who is savvy in real estate as well as how to leverage the retiree law and you’ll be happy in the long run. 

Living in the Dominican Republic

The overall cost of living in the Dominican Republic is less than that in most countries due to the exceptionally inexpensive labor costs here.  It is very affordable for you to hire a full time maid and gardener at a fraction of the cost you would likely pay a comparable person in your home country.  So maintaining your property in excellent condition, assuming labor is the primary component, is very inexpensive and (believe us) enjoyable!

The biggest problem we have in the Dominican Republic is the reliability of the public electrical grid.  To alleviate this it is highly recommended for a property to have backup batteries and inverter systems to keep critical systems (refrigerator, etc) operational.  For superior human comfort we also recommend purchasing a power generator of some type (diesel or wind).  Before you purchase a property in the Dominican Republic, make sure you know where the electricity comes from and how reliable it can be.

This is not nearly as bad as it sounds.  There are multi-million dollar vacation villas here with power generators just like there are smaller simple homes with them.  The point is to plan for it and make sure it is part of the investment you make in your private vacation home.

One of the biggest benefits of living in the Dominican Republic is the people of this beautiful country.  There are a number of islands in the Caribbean but this one is unique and charming primarily due to the people.  They are warm, caring and very social and will welcome you with open arms into their country.  The Latin culture of this country is clearly reflected in the people with their love of dancing, singing and life in general.  Their 10,000 watt smiles are there to greet you each and every day.

Remember, this is your home and everything about it is yours as well! Enjoy yourself!