Pre Construction In Vista Cana, Punta Cana

Welcome to the forums! 

I don't have the info you need but others will provide feedback!

Thanks so much

North or South America?

North

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 😀

Solar39 wrote:

North or South America?

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

Exactly I was wondering why he/she asked

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

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".

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!

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

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.

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?

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.

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 😀

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!

Absolutely agree with coming in and see and feel the property in person. Like I said, we have been traveling to DR for over 25 years and since we live in Florida we typically go between 3-5 times a year. We also selected our Punta Cana property in person based on our retirement plans in the next 3 years.  Yes, definitely pre-construction will give an advantage regarding warranty and appreciation. In terms of realtors, just be careful who you pick. The rules, regulations and training these folks go through are not the same as those you'll find in the USA. If you pick the wrong person, you'll end up doing most of the research for them. Trust me, I've been there. Is a matter of preference. My wife and I are really hands-on and intense during pre-construction and not having that intensity and sense of urgency from a person representing your interest has been at times frustrating.  Again, just make sure you get references on anyone you pick if you take that route. But yes, agree, do not buy virtually. Go there, feel it and touch it before you sign anything.  Also, don't use 2020 as the benchmark for rentals. We took 2020 out of our analysis on our properties because we all know that wasn't a normal year. At the end of the day, it all depends what your goals are regarding the investment (Retirement or Rental). It has to be something that meets your family goals now and in the future.

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

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.

Which realtor did you like? Looking for realtors suggestions to start looking for both live-in and investment options

What part of the country?

Not sure. Considering La Romana, Punta Cana, Puerto Plata regions. Would like to know more and compare

Before asking about realtors, visit these areas.  Look and compare the areas.  Figure out how things work in each area and where you may want to be.

Live there several months before looking to buy.  Once you buy it's really tough to change if you have made a mistake.

I will start a new thread this week on how real estate works here.

I am in the same boat! I've been searching by myself and think already have mapped all the available projects in Vista Cana. For a decent budget (125k 2 bedroom, 2.5 bath, ~1,200USD per m2) you could get a very nice townhome (at least what you can see in pictures and brochures). The project is legit with a lot of support from government, and overall I love the sport complex (soccer, baseball, tennis, pool, more) and the golf with light to play at night (first in the country). BUT it is not at the beach, it does not have beach view nor the ocean wind, and definitely is not walking distance from it so really not a beach house exactly. What would you recommend me to do if I am keen to find the best option within Cana Rock? directly with the agents from Hard Rock office? Lastly, if you would buy one more property in Cana Rock which project you would buy from?  Appreciate the guidance!

Hi Benjamin,  I sent you a private message with our experience regarding our investment at Cana Rock.

While in Punta Cana, I've met with few realtors, and one of them, Mike Heuser gave me a good tour of Cana Rocks. Here his his info https://www.coldwellbankerinternational … bc1853955/

Buy finished in a finished project or build your own.  There is nothing else I would trust.  Too many criminals and no justice system to support you.

Even though I own property in Barahona,3 1/2 hours west of Santo Domingo with beautiful natural scenery I also like the little village of Bayahibe in which you can fly into Punta Cana or La Romana,with cafes,B and B's, condos, cafés.prices are going up but still reasonable.

Totally true.  DO NOT FALL FOR A “DREAM”
I purchased preconstruction and was scammed.  They went cheap on the finishes.  Installations, awful.  Stuff began breaking down shortly after the builder's standard 12-month warranty was over. Try buying a gas water heater in the DR.  Try changing an AC panel for a model that they don't even sell in the DR. 

Buy ONLY when you can see what you're buying.  I wouldn't recommend trust.

***

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

@planner having just spent 5 days on a real estate tour I am glad I made that investment of time and money.  I know 5 days does not make me an expert, probably more dangerous than anything. We looked at 12 properties in person, came with a list of 15, started with 30 plus on a list. We scheduled AM & PM  meetings, with 5 different realtors, some wanted to show us properties we had seen with someone else.  It would be an exaggeration to say I could write a book on the subject but I could write a paper with a heck of an executive summary. My wife and I have a very strong like for Playa Turquesa in Punta Cana, so strong if we have to wait 6 months to two years we will wait.  Without the visit we could never say that. We will name a return visit in the winter so we get the feel again in the busy season to confirm beliefs we have. 

@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