Investing in foreign real estate markets is not for everyone. Some are attracted to the allure of more exotic locations, but are not prepared to make the adjustments necessary for owning property under very different circumstances than they might be accustomed to. Owning Dominican real estate is not like owning real estate in North America. In order to be successful, investors need to embrace those differences and learn to appreciate the learning experience.
How Does Owning Dominican Real Estate Differ?
The business and culture of the country result in a vastly different property ownership experience. For those new to Dominican real estate, having competent advisors initially is crucial. There is a distinct learning curve to understanding how best to accomplish property ownership goals in the country. Differences in infrastructure, materials, supplies and labor to name a few require owners to adopt different strategies than might be appropriate elsewhere.
Author: Rob Chenvert