7 Tips For Buying Property In Costa Rica

tips buying property in costa rica real estate investing

There’s nothing quite like escaping the hustle and bustle of the fast-paced city life and enjoying the long, lazy summer and rainy afternoons of a tropical country. Costa Rican real estate is several times more affordable than most countries in North America, and there’s an added bonus of sipping coconuts on the beach any time you like that’s too enticing to pass up! 

Why You Should Move To Costa Rica 

If you’re reading then, then you’re probably already fully invested in packing up and moving to the quaint Central American country. However, for those of you who are still on the fence, perhaps the following reasons should help you make a definitive decision. 

Tropical Climate 

All year long, the temperature in Costa Rica very rarely falls under 70 degrees. Even during the rainy season, you can expect highs of around 80 degrees with brief glimpses of sunlight every now and again. Living in a tropical country means bidding farewell to snowfall, but it also means not having to shave the ice off of your windshield every morning! 

More Nature Sites Than You Can Count 

Sure, we exaggerated the number of nature sites you can visit in Costa Rica (there are “only” 28, by the way), but that doesn’t mean you won’t enjoy every second you spend exploring the exotic jungles and rainforests. Costa Ricans, a.k.a. Ticos, have double-downed their efforts to preserve native wildlife and their habitats so locals, travelers, and expats can fully enjoy the uniqueness of their unspoiled nature reserves. 

Locals Are On-Board With Expats 

The friendly relationship between locals and foreigners goes far beyond economics. Many expats have attested to how locals, who have the utmost pride in their country, are more than willing to share with foreigners. Basically, if you’re seriously considering moving to Costa Rica, then you must have some sort of level of love for the country, making you A-OK in their books! 

Peace And Serenity 

Rarely do you get to say that a country is an active promoter of peace, but in Costa Rica’s case, this statement couldn’t be truer. Costa Rica was the first Latin American country to do away with its army, which allowed them to allocate funds to other sectors, such as infrastructure, health, and education. No wonder the tropical country is a popular destination for solo travelers! 

Renting And Owning Property Before Becoming A Legal Resident 

Last but definitely not least, one of the most compelling reasons to move to Costa Rica is that you can rent and own property there before becoming a legal resident. Compared to other countries in the Americas, Costa Rica has some of the most affordable pieces of real estate, which makes it a popular place for retirees, remote workers, and anyone who wants to own a piece of land. 

7 Tips for Buying Property in Costa Rica 

Before you pack your suitcase and look for your new home in places like Coco Bay Estates in Playas del Coco, take a step back and approach the matter with the utmost care it deserves. Property can be affordable to a certain extent, but the last thing you want is to spend a fortune on a home that you’ll regret. 

We’ve compiled a list of seven tips from expats who’ve spent the majority of their lives in Costa Rica to help you find your new dream home. 

1. Stay In Costa Rica First 

Expats can’t stress this enough. People who jump the shark and buy land in Costa Rica before falling in love with the place most likely end up putting up for-sale signs. Sure, Costa Rica is beautiful and the ideal vacation spot, but living in paradise is a completely different thing. 

2. Rent First 

While a beachside home or condo can be enticing, are you absolutely sure that’s what you’re looking for? Your tastes may have changed over the course of your stay in Costa Rica, and investing hundreds of thousands of dollars on a piece of real estate is irreversible. Always rent before negotiating a purchase deal to see whether your rent-to-own home is the right choice. 

3. Check Folio Real 

Most properties for sale can be found in Folio Real, a computer system that assigns unique numbers to different pieces of property. Accessing Folio Real can ease the process of owning a home by verifying ownership status before moving forward. 

4. Listing Images Can Be Deceiving 

Looks can be deceiving, and this is especially true when you’re looking at pictures online. The safest thing you can do is visit the location (check the Folio Real number and listed address) to see the home in person. Leaky roofs are hard to spot from a simple JPG image. 

5. Know And Love Thy Neighbors 

While you’re in Costa Rica, you might as well speak with your potential future neighbors. Neighbors from hell aren’t just a USA thing—your expat neighbor might, in fact, be your worst enemy from across the street. 

6. Check Phone And Internet Signals 

Costa Rica, like other Latin American countries, is somewhat behind in terms of phone and internet signal availability. Ideally, your home will be located in a place with strong telecommunications signals, so you can keep in touch with your loved ones back in your home country. 

7. Save Up 

Purchasing a home in Costa Rica is more affordable than in other places in the world, but that doesn’t mean it’s “cheap.” You could end up spending hundreds of thousands of dollars on your dream beachside home. Many expats advise saving up before settling on a piece of property. Paying in cash can streamline the buying process, and you won’t have to pay outrageously high interest fees.

Official Bootstrap Business Blog Newest Posts From Mike Schiemer Partners And News Outlets