As a first time home buyer in the Dominican Republic, you may make one or more of these mistakes. Let’s
review how to avoid them so that your experience as an international citizen interested only in buying
property abroad is a successful one:
You should consider all options: the real estate market is full of alternatives that give you the opportunity to
dabble or learn about it.
Don’t be impressed: continue to see and do real estate investment with yesterday’s formulas, not accepting
today’s ones…
Do not compare yourself: do not understand that each investor is different, that the realities and
circumstances, both economic and mentality are not the same in everyone.
Don’t expect to be 100% prepared; in the end no one is ever completely ready, the reason we all understand
that it is good to invest in real estate is because our money grows over time. If we expect to be 100% ready,
we risk starting with less capital, since money depreciates over time and with its depreciation, investment
options are limited.
Do not stop taking risks: there is no investment without risk, the baker who invests to make bread or the
merchant who buys merchandise, both take risks in order to sell their products; the real estate investor buys
the property, assuming the risk of renting it tomorrow.
Listen to the opinion of the professionals: we go to the approval of friends and relatives, it is like preparing
the excuse before the failure; what we fail to notice many times is that the recommendation of the friend
and the relative, is given from their fears and limitations, only pay attention to the opinion of the experts, in
this case of the real estate agents.
Financing, many have the firm decision and conviction to make the real estate investment without financing
with the powerful statement: “I have my money, I don’t like to finance”, this is a mistake, the more financing
you receive, the more profitable your investment will be.
Do not be afraid: real estate investment and its different alternatives have many ways to mitigate risks, but
sometimes fear does not even allow us to consider business opportunities, safe and profitable, do not let
your beliefs and your refusal to change be the ones who make the decision for you.
