Pre Construction In Vista Cana, Punta Cana

Solar39 wrote:

North or South America?

I don't understand this question. Nothing to do with original posters questions

ricomozo wrote:

I have brought a pre construction custom home in Bavaro Punta Cana.  I too did not purchase in the pricier Cap Cana but I brought in a gated community named Don Pablo and it’s 5 minutes from San Juan shopping center, 15 minutes from Punta Cana airport and my home will be delivered to me within the next 2 months 😀. It’s a 2 storey 3 bedroom, 2 bath villa for 180k 😀

That’s amazing! What was your payment schedule like? Was it 20 deposit and 20% during Pre construction? And do you suggest I fly to Dr? Because we were actually thinking of buying virtually as we trust our realtor

planner wrote:

Solar39 wrote:

North or South America?

I don't understand this question. Nothing to do with original posters questions

I think he understood she's from the US, but took exception to her using just "America".

ddmcghee wrote:

I think everyone here will tell you it's a bad idea to buy anything without visiting the site yourself! No matter how trustworthy your realtor, not everything can be communicated through pictures or videos, and their opinions on things might differ from yours!

This is very true

vicml1 wrote:

Hello, not sure what your budget is but we bought pre-construction at Cana Rock.  These are inside the facilities of Hard Rock Hotel & Casino. Their projects are amazing.  We live in Florida. Just know that while Vista Cana does have some beautiful projects as well, it doesn’t have direct access to an actual beach.  At Cana Rock you can literally walk to the beach and they have a private Beach Club. All of their projects have either, golf, ocean or pool view.  You can search for them on Google.  Hope that helps.

Thank you so much for this information! This is in my budget but not 60% during construction unfortunately. When will these condos be finished 2022? And did you go there and meet the builder?

vicml1 wrote:

Hello, they only require 50% during pre-construction which you can work a payment plan with them based on your situation.  We did a monthly payment over 3 years. You can finance the remaining 50% with one of the local banks working with the builder. In our case we bought in Galaxy project right in front of Hard Rock hotel and plan to close around Mar-Jun 2022.  They have other projects (Star, Universe, Space, Bluemarina that have construction completion timelines anywhere between 2-5 years which can adjust to most people’s budgets. Regarding whether or not we have met the builder, yes most definitely.  We have been traveling between Punta Cana and Florida for over 25 years. We have been in contact with the builder via telephone, email and zoom.  My wife is from Santo Domingo who became US Citizen over 30 years ago. I am from Puerto Rico living in Florida after military retirement of 30 plus years. Trust me we have traveled the world in those 30 years and seen many places but there’s something unique about Punta Cana/Bavaro area. The best is yet to come for that area. We have short/long term rental properties in Orlando, Puerto Rico and Georgia and have been studying the Punta Cana area for many years. Potentially looking at Cancun or Gatlinburg Tennessee as the next investment. If you want to rent it out, think about the amenities and what most people come to DR for. In my opinion and research anywhere in that area is a plus but know some will do better than others due to location, type of product and amenities.  Also consider property appreciation. Ours has appreciated over 40% and it hasn’t even been built completely. Buying pre-construction is the best way to see that property appreciation. That has been our experience with our investment properties.  Like I said, that area will explode in the next few years. Let me know if you have any specific question and you can reach out to us directly for specific details.

This is such great and detailed information, I can’t thank you enough. Pre construction is definitely the way to go for us as well. We have only been to Punta Cana once, I am from Jamaica and my husband is from Haiti so Punta Cana just makes perfect sense for us. We spend thousands of dollars every year to stay in hotels, money down the drain when we could be renting and still having access at least a month or two out of the year. I will do heavy research on the Bavaro area thanks for that. I went on the website and I think the percentages have raised  but I will check each development and see the differences. Will definitely reach out directly if I have any questions. Thanks again!

ricomozo wrote:

We flew down last October to see several different properties. I would not buy virtually, it’s too easy to make properties and neighborhood more attractive than they are in real time. It’s just as important to get to know the neighborhood and amenities of the community and not just the hose itself. Yes you can easily do a 20 % down , 40 % middle and final 40% on delivery. We picked our specific delivery because he built custom homes and upon purchase. When we visited other sites they build in sections, so some would start until the December, while ours will be delivered in July so on our time line 😀. Now is not a bad time as several Air B&B are heavily discounted due to Covid. The country is really starting to open back up. I say visit and have your realtor so you 4 to 5 properties and negotiate them against each other.  But we definitely wanted pre construction because we didn’t want our retirement home to come with pre problems/use 🤷🏽‍♂️. Your realtor should vet the reliability of any builder they take you too 😀

Thank you SO MUCH for this information, It’s time to plan my trip to DR!

ricomozo wrote:

I agree wholeheartedly that you should vet your realtor and as always be prepared to walk away. Our realtor was a UK expat that now is a DR citizen . She was working for our best interest and after me advising her of our budget and wishes sh mapped out 4 to 6 properties for us to visit. The realtor gets paid from the builder and not us, so the incentive is on them to find something you will want. I also did a ton of research on my own and I also gave her a list of properties to take us too. Also I agree that rental income would have to be revised sometime around 2023 when the world gets back to normal. However as mine is a retirement home and we won’t be renting that’s a fortunate non issue for us. And yes we too are looking at a 3 to 5 year retirement and will have residency as well

Yes that is a good point to revise rental income sometime around 2023 and I have really been trying to do my own research but I have only seen two websites that have (very few) Punta Cana
Properties.

That’s amazing! What was your payment schedule like? Was it 20 deposit and 20% during Pre construction? And do you suggest I fly to Dr? Because we were actually thinking of buying virtually as we trust our realtor

- @sweetapplecee

@vicml1 hi there,

How has your experience at the Cana Rock been? I purchased a pre construction unit and all their projects are delayed for over a year. Please share your experience i would like advice on what to do.

- @ess02