Cabarete/Sosua Among World's Best Retirement Beaches

[el_papi_chew_low]

http://money.usnews.com/money/blogs/On-Retirement/2013/12/09/the-worlds-5-best-beach-cities-for-retirement

Dec 9, 2013... US News and World Report says...

2. Sosua/Cabarete, Dominican Republic. Where the verdant green jungle hills slope into the crystal-blue waters off the north coast of the Dominican Republic rest the sand-fringed towns of Sosua and neighboring Cabarete. These are beachfront utopias. There are no high-rise towers, no big crowds and no worries. Life here is all about enjoying what mother nature has created in this world-class coastal spot.

The life on offer here is also increasingly appealing to retirees. Expat communities are established and expanding, and planned developments are under way to cater to them. Retirees settling here can choose luxury living in planned communities where houses sell for $400,000 to $800,000, but also have much more affordable options in coastal developments where homes are priced from $130,000 to $150,000.

[questner]

Sure, sure, best retirement bitches. :rofl: Just read the fine print. It's the same group of delusional property sellers that have to be banned for life for giving advice on retirement.

The only country that is attractive today for an average American is Australia based on common culture, nature, healthcare, employment opportunities, pension system, security, democracy etc.

[JD426]

Any Retiring "Expat" who just willy nilly buys a $800K House in the Dom Republic, to RETIRE in, especially in Sosua or Cabarete, or anywhere for that matter .. Unless they got a lot more $ and thats just fun money for them..
Those poeple really need to have their Heads examined..
A house is NEVER worth more than what the NEXT guy is willing to pay ..


People with thei "Million dollar Homes" & EGOS to match learned that shit the hard way recently, had their ASSES handed to them .. and thats right here in the NY NJ market.. where there is still some $$ floating around.
Imagine trying to RE SELL that $800 K Home in the Dom Republic.
LOL
yeagh ,Good luck with that.

[Westy]

Any Retiring "Expat" who just willy nilly buys a $800K House in the Dom Republic, to RETIRE in, especially in Sosua or Cabarete, or anywhere for that matter .. Unless they got a lot more $ and thats just fun money for them..
Those poeple really need to have their Heads examined..
A house is NEVER worth more than what the NEXT guy is willing to pay ..


People with their "Million dollar Homes" & EGOS to match learned that shit the hard way recently, had their ASSES handed to them .. and thats right here in the NY NJ market.. where there is still some $$ floating around.
Imagine trying to RE SELL that $800 K Home in the Dom Republic.
LOL
yeagh ,Good luck with that.

I am with you on that, Judge ...

Kathleen Peddicord, eh? I've read her shtick in International Living magazine, years past ... and just as Questner noted, she is in the business of selling third-world 'paradise' real estate to would-be expats who may have more money to invest than common sense about where and how to invest it. I'm not blowing smoke at her for that ... if you sell your old home in Baltimore to move OCONUS, you'll probably think it makes sense to buy your new home in Belize, or wherever. And there are success stories - of course, in IL, they only print the success-stories.

Does it really make that much sense, though, to own real estate in the Dom Rep? Again, it does for some of us. But I'm really questioning whether or not it would make sense for me - even though I bought the house I'm living in now; it did make sense when I was 30, and even after the real-estate crash of a few years ago, it's still worth several times my purchase price on today's market. On the other hand, though, I'm tied to it; anything that goes wrong is something I have to fix, or pay to have fixed; I won't be able to move until I sell it. (Not calling this a problem, just a fact. And oh, yes, I know I could rent it out, but to my mind, that would be more trouble than it would be worth to me.)

Now, a week from 60, I think I'd do better by renting in 'paradise.' I've got a decent pension and a fairly good nest-egg; the money I'd get from selling my house would make that a very good nest-egg. And I don't doubt I could get a comfortable, thoroughly-suitable rental home in the Cabarete-Sosua-Puerto Plata area for less than, say, $1000 a month, on a long-term lease. If there's a problem, it's the landlord's problem, and if I tire of it - or just decide the grass looks greener elsewhere - I can pack up and leave at the end of the month.

Of course, that doesn't do any good for the 'advertising partners' of Kathleen Peddicord and her real-estate investment group.

Too bad, so sad, don't leave mad. :rolleyes2:

[Rubicon]

When I retire, and assuming that there are still some worthwhile mongering destinations left, I'm going to sell every material thing I have left in the states, and travel those destinations in rotation. I won't own anything I can't carry in two checked and one carryon bag(s). I'll spend one year here, 6 months there, etc. I'll rent for the period I'd like to be there and, when I'm done, pack up and move on to the next location. That is my retirement plan.

[el_papi_chew_low]

I bought the house I'm living in now; it did make sense when I was 30, and even after the real-estate crash of a few years ago, it's still worth several times my purchase price on today's market. On the other hand, though, I'm tied to it; anything that goes wrong is something I have to fix, or pay to have fixed; I won't be able to move until I sell it. (Not calling this a problem, just a fact. And oh, yes, I know I could rent it out, but to my mind, that would be more trouble than it would be worth to me.) I feel you on this, but I still think you come out on top owning, unless you purchased on the top side of the bubble or in an area that has seriously declined. But I'm sure many would have approached their purchases differently in hind sight.

[el_papi_chew_low]

When I retire, and assuming that there are still some worthwhile mongering destinations left Can anyone cite a mongering destination that has actually gotten better in the last 5 years?

[ezsmile]

Any Retiring "Expat" who just willy nilly buys a $800K House in the Dom Republic, to RETIRE in, especially in Sosua or Cabarete, or anywhere for that matter .. Unless they got a lot more $ and thats just fun money for them..
Those poeple really need to have their Heads examined..
A house is NEVER worth more than what the NEXT guy is willing to pay ..


People with thei "Million dollar Homes" & EGOS to match learned that shit the hard way recently, had their ASSES handed to them .. and thats right here in the NY NJ market.. where there is still some $$ floating around.
Imagine trying to RE SELL that $800 K Home in the Dom Republic.
LOL
yeagh ,Good luck with that.

except...if someone did pay for the $800k house, they ARE that next guy.

There are enclaves of those houses as well as enclaves that cost more. El Choco comes to mind (so I have been told - I don't really know). So there is a market, it is just not a big one.

But if you are spending every last dime to get that 800k house it certainly does not make sense.

Also, the 800k figure was the top $ figure used in the article

And if your are buying it to flip it, are you really retiring?

[el_papi_chew_low]

except...if someone did pay for the $800k house, they ARE that next guy.

El Choco comes to mind. So there is a market, it is just not a big one.

El Choco IS some amazing shit when you consider where it is at. I remember going to a friend's house there with some D'Latin chicas and seeing how blown away they were by the sheer excess.

[Rubicon]

Can anyone cite a mongering destination that has actually gotten better in the last 5 years?

Not that I'm aware of, but that's exactly why I mentioned "worthwhile" locations. With the way things are going throughout the world I'll probably end up mongering in the next town over for cheap pussy. :rofl:

[Westy]

I feel you on this, but I still think you come out on top owning, unless you purchased on the top side of the bubble or in an area that has seriously declined. But I'm sure many would have approached their purchases differently in hind sight.

I did come out on top. Bought the place in 1985. Current listings in my neighborhood are more than three times my purchase price. But this isn't the place I want to spend the rest of my life.

My 'Dear Auntie' made out very well in her own way. She bought in 1963, and she netted almost half a million on the sale ... which will keep her comfy and safe and well-cared-for, at the Alzheimer's-care facility where I had to put her two years ago, for more years than she's likely to live. And when she goes West, I'm going South.

And actually, I may well buy my next home, in the form of an ocean-ready sailboat, something around 35 to 40 feet.