Villa prices in Cabarete

Member since 20 April 2022

cbrossardNew member02 May 2022 16:31:38

I have been looking at villas for sale online. I was wondering if properties usually go for a price similar to the asking price or not.

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planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert02 May 2022 16:41:57

17701

Good question and the answer is not easy!

Sometimes yes sometimes no. Depends if seller is motivated. Depends if they have a realistic value on the property. Depends what's going on around there!

sberger50 Active member

Member since 06 July 2021

sberger50Active member02 May 2022 16:51:39

Talked to my friend at my condo complex, and he said that land is being cleared across from Oasis del Sol in East Cabarete for new villas to be built. I have two rental units at Oasis, and with this new edition things are really developing. One of the very large abandon resorts from the past is being born-again just down the street and should also open soon. Very large resort with many rooms. Total remodel and looks nice. North Coast is popping!!

cbrossard New member

Member since 20 April 2022

cbrossardNew member02 May 2022 17:24:53

Thank you for the replies. Yes, it seems like a good time to buy in that area! Really probably 10 years ago would have been ideal

I'm just trying to get an idea of what we could afford and didn't know if I could rely on the listing prices to be a fair estimate of what I would actually end up paying. Sometimes I see these gorgeous villas on the beach that look like they sold for quite a bit less than the other villas that are currently available, so it got me wondering!

Tete Ovalle Member

Member since 29 April 2021

Tete OvalleMember02 May 2022 18:58:00

Just don't buy without personally checking the place, and hopefully get some kind of inspection.

When things get damaged, the way they are fixed is not always the best... many time quite 'funny' or 'especial' (depends on your humor and/or mood haha)

ana-eliz New member

Member since 20 June 2021

ana-elizNew member02 May 2022 18:58:49

I've noticed that prices realtors post online for existing houses are super inflated compared to what you can get if you're there in person speaking to the owner because realtors add on a lot in order to make a big commission for themselves. As far as a resort or a new build, I think the prices are more accurate.

sberger50 Active member

Member since 06 July 2021

sberger50Active member02 May 2022 19:30:56

It sometimes amazes me to see people call a 2 bedroom house a villa? What? Villa's are house with luxury both inside and out. Usually acres of manicured grounds, swimming pool, tennis courts, gazebos, and party facilities. No, a 1200 sq. ft. house even with 3 bedrooms is not near a villa. Let's not try to make a pig's ear into a purse.

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert02 May 2022 19:59:44

17701

Usually high prices are generated by owners with unrealistic expectations. Sometimes that is driven by what they paid for it! Sometimes it's not. Realtors like quick sales that don't take them a lot of work! They get a % regardless so can't see them inflating prices just to get slightly more commissions.

Absolutely get inspections and don't trust the one done by the owner. Get your own.

J Tavar Member

Member since 03 May 2022

J TavarMember03 May 2022 16:53:44

@cbrossard

Well, yes and no. Right now I'm working in a construction company and real estate. And I can mention that because of all this situation that is happening in the world, many sellers are looking to recover everything that was not budgeted. We are currently building a new project in Perla Marina/Natura Cabana and is the same situation

Tippj Serial expat

Member since 12 February 2022

TippjSerial expat04 May 2022 02:31:44

#10

610

I looked at a few places that were new construction and the best they would do

is about 3% off if it was an all cash sale……I also looked at pre-construction where they tell yer completion date is a year and a half away , and if goes over budget they’ll raise the carrying charge’s on the unit at the end , and then

someone whispered in my ear that’s if the project gets done and doesn’t go into bankruptcy …. I also found with the new- built the land Manager selling the unit

Never wanted to commit to Exactly which unit we’re still available …..there was a lot of BS with those guys

cbrossard New member

Member since 20 April 2022

cbrossardNew member04 May 2022 20:44:04

#11

@Tippj That sounds super frustrating!

Tippj Serial expat

Member since 12 February 2022

TippjSerial expat05 May 2022 01:36:07

#12

610

@Tippj That sounds super frustrating!
- @cbrossard

Not only frustrating , but if you find something on the internet that looks like a halfway

decent deal …. Keep digging because more than one occasion I found the same condo listed on three different site’s with three different listing price , and with the “new” construction ones the

management will tell you that because there’s so many people selling the units in there office

that there not sure which one’s are still available ,”but we’ll get you a good one just put down the

$5 thousand non refundable deposit……. Really twice this happened…like maybe he’ll give you the one facing the dumpster in the back of the property with out a view….how can you buy something you can’t see …one was listed for $ 89,000 on two different sites, but the guy said it must be a mistake they want $ 110 thousand ,

maybe because I’m an American ….. very frustrating…🙄

arisandmarion Member

Member since 13 March 2022

arisandmarionMember05 May 2022 02:16:48

#13

So we are knee deep in this process currently. Villa shopping - not condos - but you are right the prices online could be three different prices with three different realtors and in fact it might already be sold (webpages don’t have to be current). The best advice I can give is to find a place within $30k maybe of what you want to pay (depending on your budget but maybe up to 80% of the asking price or consider up to a 20% discount) and if it’s not a new build make an offer. But of course go look at it, check the area, it is true some materials will be cheap but they can fixed or replaced if the building is sound. Have lots of patience and if you have money you have the power (someone in the Dominican told me that and it’s true) so don’t be afraid to wait it out a little bit. Someone may say no but change their mind the next week. Every realtor will say it’s a sellers market - that may be true - but not that many people can buy with cash now and the process is some work a lot of people will walk away due to frustration. If you want it you can negotiate and don’t forget to get it furnished. Good luck!

Tippj Serial expat

Member since 12 February 2022

TippjSerial expat05 May 2022 02:47:36

#14

610

@cbrossard

Well, yes and no. Right now I'm working in a construction company and real estate. And I can mention that because of all this situation that is happening in the world, many sellers are looking to recover everything that was not budgeted. We are currently building a new project in Perla Marina/Natura Cabana and is the same situation
- @J Tavar

Are they trying to recover the non budgeted expenses or are they trying to maintain their

Original profit margin levels that was miscalculated before the job was even started

and have the clients eat the cost as a price of doing business

In the DR ,… and then people wonder why you can’t trust what people are selling you