We have spoken about the possibilities of owning a new home in Santo Domingo for less than US $ 70,000, but that is not the real reason for considering the Dominican Republic.  Unknown to most people, is the fact that interest rates on time deposits (both in US Dollars and Dominican Pesos) tend to be higher.  In addition, bank account interest and US Dollar based investments are exempt from local income tax.  Considering that up to 10% tax-free interest can be achieved with a US dollar deposit, or up to 18% with a Dominican Peso investment, it does not take long to realize that by simply changing countries - one can greatly improve your investment income. 

The other side of the equation is of course monthly living expenses.  The largest part of your monthly budget will be housing costs, and certainly it is possible to rent a 3 Bedroom apartment in a residential neighborhood for about US $ 300 per month.  One can also rent a luxury apartment, complete with 24 hour security and other amenities for about US $ 700 per month.  It all comes down to what you want, or what you are comfortable with.  But finding a comfortable place to live, for about US $ 300 monthly, is very possible. 

In addition, one can easily hire live-in domestic help for about US $ 250 per month.  That is to say, a maid to do the cooking, cleaning and other chores for a price I guarantee you cannot match in the US or Canada.  Where in the world can you rent a decent apartment or home, have full time domestic staff, and cover your other monthly untility expenses for less than US $1,000 per month.  Not many places. 

With very modern and comfortable supermarkets close by, cable television in English, modern golf and other facilities, living better on less is not just a dream - in the Dominican Republic, it is a reality! 

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