If you’ve been seriously considering homeownership in the Dominican Republic, there’s never been a better time to make your dream of island living a reality. Moving abroad is a wonderful way to enhance your lifestyle and invest in the future you’ve always wanted, and with a little research and pre-planning, owning a home in the DR can become an easy reality. Unlike many other countries that make it exceedingly difficult for foreign nationals to own property and reside within the nation year-round, the Dominican is incredibly welcoming towards expats making it a favourite amongst retirees, veterans and investors.
For nearly 30 years, Casa Linda has helped prospective homeowners just like you find their perfect piece of paradise in the Dominican Republic. If you’re ready to make the best change you’ll ever decide on, we’re here to help. Learn more about purchasing a home in the Dominican Republic with Casa Linda below!
Expat Purchasing 101
If you’re early into the research phase of buying a home abroad, you may feel overwhelmed and unsure as to what you need to be looking for. First and foremost, it’s important to be aware that every country has different rules and regulations where foreign homeownership is concerned, and you’ll want to factor in the difficulty of obtaining residency as well as basic ownership rights when deciding where you want to relocate to. As we mentioned above, the Dominican is uniquely welcoming to outside buyers and investors and offers a wide range of benefits to homeowners, including the same legal rights as natural citizens should you obtain residency. This means that you truly own your land, and have much more freedom than would typically be afforded elsewhere.
In addition to ample rights for foreign buyers, the Dominican also offers one of the stablest governments and economies in Latin America, as well as a solid infrastructure that makes it easy to access daily essentials like high-speed internet, phone lines, cable television, a world-class healthcare system and more. Local shopping centres also feature many of the most popular brands found across North America and Europe, meaning you’ll never have to go without the creature comforts you’ve come to love.
Purchasing a home in the Dominican Republic is a fairly easy process for foreign nationals due to the government’s openness to external buyers. Financing is straightforward when partnering with international banks, with an average minimum deposit of 30% being required to begin moving forward in the purchasing process. Mortgage terms in the DR last for 20 years and have higher lending rates (as of 2019, rates fluctuated between 4% to 7%) than the US or Canada. For those who plan on remaining in their home country during the buying process, it’s worth noting that, while you will typically need to be present for the signing of all documents in the DR, you may be able to assign someone Power of Attorney if necessary.
Explore Paradise With Casa Linda
Located on the gorgeous north end of the Dominican Republic, Casa Linda is an exclusive gated community that features stunning villas with floor plans starting as low as $185,000 USD. Our homes range from two-bedroom and two-bathrooms, all the way up to 5 bedroom homes, and our team of designers offers endless ways to create a space unlike any other. Whether you choose to build exactly to one of our existing spec models or to upgrade everything to bring your dream home to life, we’re here to assist you every step of the way.
Contact us today to learn more about purchasing a home in the Dominican Republic, including how Casa Linda can help you get started on the path to paradise!