How Can I Afford to Buy A Caribbean Home?
Does this sound familiar? “If I win the lottery I am going to buy a home somewhere in the caribbean.” Maybe for some, but not for all. It sure was a comment I made once or twice. Especially true while relaxing on a sunny beach in the Dominican Republic … “How can I afford to buy a home here – there must be a way?”
Let me tell you a short story
After several years vacationing in the resort destinations of Punta Cana and Samana; we decided to travel and spend some time in the North Coast of the Dominican Republic. We understood Puerto Plata, in particular Cabarete and Sosua, had a large established expat community which meant amenities and services that you won’t necessarily find anywhere else in the Caribbean. Also the prices of properties in the Dominican were the least expensive compared to other islands which makes the perfect place for retirement.
Feeling a bit deflated
We spent several days looking at properties in our price range and soon began to feel a bit deflated. Either the location wasn’t right; or the size too small (had to be big enough for 3 large dogs); or it was a bit of a fixer upper, no thanks – been there done that! Finally we were introduced to Casa Linda Residencial, a gated community located between two popular beach destinations, Cabarete and Sosua. As we drove through the neighbourhood we immediately liked the “feel” of the development. The properties varied from small cute villas to beautiful larger size homes. The grounds were well manicured with mature trees, tropical flowers and a distinct “pride of ownership”. We were excited! Now the big question – can we afford to buy a home here?
Developer explains options
During our meeting with the developer he explained to us about their rental guarantee program. Casa Linda has been in business for 20 successful years and has an on-site rental management program. You can buy and own a new home today that could be placed in the rental program. The program will guarantee 6-10% of the purchase price in the annual rental income for the first two years. Also we could use the home as often as we like for our personal use – lock up and leave. We clearly liked the idea of this program. If we purchased a home today we could place it in the rental program and overtime have it pay for itself. This was good news. We also had options to choose from with Casa Linda. First, they offered low starting prices (Villa Verano $119,800 US), second was developer financing and third was the rental-guarantee program; guess what? We bought our caribbean home!
Solutions for everyone
After hearing about Casa Linda’s options, my sister purchased her dream caribbean home. A beautiful six-bedroom Villa Tranquila with room enough for the whole family to enjoy. The home has been in the rental-guarantee program close to one year and already paying for itself. It was the right solution at the right time. No need to worry about being a landlord, Casa Linda takes care of everything.
“He has made what could be a very difficult, frustrating experience very streamlined. He has the answers to all our questions before we even asked them” – from testimonials
Next, I met a couple at the Puerto Plata airport getting ready to leave the DR. It was actually someone I had worked with back in Toronto for many years and they had no idea I was now selling properties in the North Coast. Disappointingly they explained they were looking for a retirement home in the Sosua area however had no luck with their agent. I had the solution and explained about Casa Linda’s options. Guess what? It happened, they now have purchased their caribbean retirement home and are extremely happy!
“demoralized I bumped into Rich who I have known and trusted for many years. He guided us through every aspect of buying a home in the DR including lawyers, architects and developers and now we are building our retirement home on Casa Linda. Getting our piece of paradise was really easy thanks to Rich.” – from testimonials
Living in Casa Linda
Today you will find many North Americans living in Casa Linda. Some owners have purchased two homes. The first home as their residence while the second as a source for rental income – excellent investment opportunity. Whether retiring in a cute two-bedroom villa or buying a family vacation retreat, we have solutions.
Casa Linda has been our home for three years and we thoroughly enjoy living in the caribbean and all that is has to offer. I hope my story may help provide some insight or a solution to those thinking “How can I afford to buy a home in the caribbean?”
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