New member

TKB1 Member

3POSTS

9 years ago

Hi,
I just joined this website to find out more about Puerto Rico.聽 My husband and I are looking for a tropical place to retire where we can use Medicare health insurance (since we will be paying into it for retirement).聽 We visited St. Thomas a few months ago, but feel that it is too expensive for us.聽 We are now looking at Puerto Rico, but many of the posts have us concerned!聽 We would want to purchase a home there and would need good health care as retirees.聽 Based on the posts, both of those could be less than ideal on PR - would be concerned our real estate purchase would go down in value and that we couldn't find good doctors.聽 We do not know the island yet, so we do not know where we would like to settle.聽 Somewhere affordable, with a nice community of friendly people, and calm water.聽 We do not speak Spanish, but I have just started working on that.聽 Our timeline is to visit PR in Nov. 2017 for the first visit.聽 Retirement is still 2 years away.聽 We look forward to any information that we can get on this forum!

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ReyP ViP

5509POSTS

9 years ago

Welcome to the forum and hopefully Puerto Rico.
The island is 100 miles long by 35 miles wide with a pupulation of about 3.4 million people. There are about 9,000 doctors in the island. There some specialist living the island but regular doctors we have plenty. The issue with doctors is not about quality but delay. You may need to wait a month or two to see a specialist unless it is an emergency in which case you will see them quickly.

The timing is perfect for you, most of the negative with the goverment will be seen by the end of this year, so we will have a better idea how things will unfold.

The economic downturn is good for you so you can have a larger number of properties for sale at a good price. Your property may still go down some at first but if you are not planing on selling for 5 years or so then you will not be affected.

lgustaf Serial expat

401POSTS

9 years ago

I'm retiring in PR. I already have a place, but I聽 am considering buying another and renting out the apartment I have to supplement my income. Right now, I have it renting out on Air B&B when I'm not in it and the rent makes it pay for itself.

I have visited ALL islands in the Caribbean and chose PR for the history, the culture, the affordability, the climate, the food and the friendly people. And it has the big four: COSTCO, Walmart IKEA, and Home Depot. Just bought a new washer-dryer at the Sears down there to be delivered Wednesday. Finding what you need on other islands is not so easy, and often way more money..

Oh, and most everybody in the cities is bi-lingual, so Spanish is not a MUST, although I am trying to learn it anyway. Most anything of a legal nature is printed in English and Spanish.

TKB1 Member

3POSTS

9 years ago

Thank you, ReyP and Igustaf, for the positive comments!聽 I look forward to our first visit to PR in November and I hope to find a lot of helpful info. on this forum. I would also like to find a knowledgeable, English-speaking realtor(s) to show us a few properties in areas that might be good locations for us to consider.聽 A real estate agent showed us a few condos on St. Thomas and it was a big help to actually see the properties, vs. look at photos on the Internet, and learn about hurricane insurance, structural issues, etc.

I hope that PR is able to turn things around financially (fairly soon) and help its struggling citizens.聽 It looks like it could be a very nice place to retire, but my husband and I are not wealthy, so for us it needs to be affordable.聽

I am excited to learn all about PR and am keeping my fingers crossed that we are able to make this island our new home!

lgustaf Serial expat

401POSTS

9 years ago

I suggest that you not pick a real estate broker until you have decided where you want to live. You can do a lot of research on the net like Zillow and Classificados that will give you an idea of how much properties go for in various principalities.

And once you've picked an area or two, pick a realtor who specializes in those areas to show you listings. If you will need a loan, get that in place right away. As far as insurance, taxes, etc. are concerned, your loan officer will likely know more than your realtor. Realtors don't consider it their job to know that stuff. And you can get a lot of info by talking to the seller directly -- something realtors in the states would never let you do.

PR is a commonwealth so hazard insurance is included in your monthly mortgage regardless of how much you put down on your loan.

Don't fixate on the economy. As you approach retirement age, the depressed economy can work to your advantage.

ReyP ViP

5509POSTS

9 years ago

Since this is your first visit you should try to visit many areas and get a little feel of the island. Once you found the area or two where you want to live, you should rent for 6 months and continue your search or fine tune it at least.

Once you are sure then engage a realtor or burchase from owner directly.

mac00677 Serial expat

380POSTS

9 years ago

In case you are not familiar with clasificados; the websit is: 聽 You can find anything there; cars, house for sale or rent, new & used furniture, bicycles, kayaks, surfboards... seriously, EVERYTHING! Any idea on what part of the island is good for you?