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1 million pesos? ??

Last activity 09 January 2023 by emetz55

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Soljahh

Hello, I got a crazy hypothetical question? ? Is 1 million pesos a lot of money in DR like a 1 million US dollars are in America?  I ask this question because it sounds crazy that 1 dollar is roughly 47 pesos out there? Is there a catch to this or is this a dream come true lol? Trying to understand the difference between currencies.

Kat11

Things are cheaper for sure, but they aren't free lol!, the conversion just takes time getting used to. Example if you buy a condo for $100,000 US its 4,711.669 pesos which sounds crazy to us but it's still 100k.

Soljahh

Ok thanks for your response. Lol

planner

Everything is relative!!!

Rules of thumb everything imported is expensive. Like good beef.

Everything made here with local ingredients is cheap - like rum

Labor is almost always cheaper. So labor intensive things are less expensive.

A million pesos - to  a Dominican who earn 12,000 pesos a month is a huge sum

To an American with a good pension it isnt all that much.

Its relative!

Soljahh

Thanks again and again.

planner

Very welcome honey.

A2496clark

If you already  have your  villa  built  and paid for could, you live well 20,000. Plus a supplemental  income if 1200 a month?

ddmcghee

It really depends on how you want to live! If you eat out a lot, buy imported food, drive a lot, or run your AC frequently, then it gets expensive!

Tippj

@A2496clark

        Best thing to do is throw caution to the wind and live the way you choose, when you realize

your not on vacation anymore  you can tweak your budget and cut where necessary or maybe not cut at all…..

planner

First I assume that is 20,000 US a year plus 1,200 US a month.  Is that correct?


If your residence is built and paid for, do you have any HOA type fees? 


How many in the household?


What lifestyle do you want to live??? Running air conditioners?  All the time? Only sometimes? How many?


Eat in or eat out???


Will you need a housekeeper/ gardener/ pool maintenance?


Reality is we cannot give you much of an opinion without knowing a lot more!

emetz55

@Soljahh But a beer is 200 pesos which eqates to about $3.64 US. A 1.75 OF Titos vodka is 3200 pesos or about $58.00 US. Dream yes, sometimes a nightmare.

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