I want to buy a property in the Dominican Republic! It all starts with that desire to have a new home. We immediately investigate what we need to achieve it. And at the same time, we wonder if it is a good time to do it or better to wait.

Are you wondering whether you are ready to buy a property to live in or to invest in? The following questionnaire will help you identify where you are.

1. Why do I need to buy a property? Whether to live or invest, we must be clear, since we will decide on something that will affect our lives in the long term.

2. Do I want to buy a house or an apartment? If the property is to reside in it, we must bear in mind our space needs. On the other hand, if it is for investment, we will evaluate if the income will be short or long term. We will also consider the cost of maintenance because it varies from a house to an apartment.

3. Which sector is best for me when making my purchase? If it is a property to live in, we must think about the sectors we are interested in, keeping in mind our family and work area of interaction. In case it is for investment, the sectors with high rental traffic will be the most suitable.

And, last but not least,

4. Am I financially prepared to make the purchase? After having answered the previous questions, this part will be clear. By identifying the value of the property we wish to purchase, we will determine the budget and, consequently, our purchasing capacity. From this point on, we only need to know the following:

If you are buying real estate by financing:

• Do I have sufficient funds for a down payment?
• Do I have the amount of transfer tax and legal fees for the transaction?
• Have I been pre-approved by a financial institution?
• Can I afford the monthly payments? These payments are often higher than those paid for a rental. However, we have a solution for this.

In case of buying a property by cash:

• Will this decision affect my liquidity?
• Do these funds need an immediate or long-term return? This question applies when we buy properties under construction.

As you could see, there are many factors to consider when purchasing a property. Our mission is to guide you and take you by the hand throughout this great decision of investing, which perhaps, will be for life and, also, will grow your wealth in the long term.

It is always a pleasure to read you, leave us your comments or doubts. It is a pleasure for us to assist you.