BUYING vs .RENTING

[sohomale]

Now that all the dorm exiles are renting every vacant apt on the island and boosting the rents to Trump Tower prices, I am considering to buy a place for 2 yrs. Has anyone else considered this?

You can get a decent 2br/2bath in Cupecoy Beach Club for $200K
10% down = $20K cash outlay
Monthly costs assuming 6.37% rate, $250 maint., $200 tax (not sure if there is any)...$1572 per month x 24 months = $37,728

Total cash outlay over 2 yrs = $57,728
versus
renting a nice 1bd = $30,000

after 2 yrs....if the apt depreciates in value by 15% you still break even with what you would have spent on rent.

[anencephalic]

My wife and I considered buying a home here but thought better of it. In the long run, we did not want to be stuck with an island investment that either depreciated and/or couldn't sell due to a fickle real estate market. I would also speculate that buying a home in the Netherlands Antilles is not the same as buying a home in the states...I wonder if you would even qualify for a mortgage from a dutch bank as a foreign medical student?

Just my $0.02.

Aloha,