The Dominican Real Estate market is blooming, with many new buildings and developments. Before handing over your money, consider these top five questions that will help ensure you’re not getting taken advantage of, and remember hiring a real estate lawyer in the Dominican Republic before launching on this exciting venture:
When you’re looking for a pre-construction sale, it’s important to do your research on the developer. Check out their reputation and experience with other projects before investing in them!
Return of Investment (ROI) is a key question that should be answered before investing in any real estate project. The ROI will tell you how long it takes to see your investment return, as well as what expenses are involved. It is very important to know the occupancy rate in the area as well as the amenities of the property.
Property owners should consider the long-term prospects for their investment. Factors to consider include what type of business model the property has, who administers the property and how committed they are towards its success in general.
Having a property management company handle the day-to-day operations of your investment allows you to focus on other aspects that are more important. You can rest easy knowing everything will be taken care of, from repairs and maintenance to administrative tasks like billing customers for rent payments or handling paperwork related to tenants' claims, etc.
Be sure to review the HOA (Homeowners Association) rules before you buy a property in an area that may have rental restrictions or other amenities. These can vary by community so do your research!