Many people who visit the Southern Nicoya Peninsula fall in love with the area and begin fantasizing about buying land or a vacation home here. The idea makes sense… people love the idea of coming back and see it as a good investment… an unspoiled corner of the world with first class restaurants and boutique hotels is sure to grow in value over time, especially with a growing number of retirees looking to escape to warmer climates for old age. With all the bad press about Mexico, many people, especially from the U.S. and Canada, who could never afford a house near a beautiful white sand beach in the U.S., are learning that Costa Rica is the best place to be.
In addition, many eco-minded couples and families are jumping onto the eco-village concept, and are buying empty lots within eco communties, hoping to build a small vacation home or even immigrate one day. A few such places are shown here in another article: Eco villages and eco real estate.
Purchasing real estate in Costa Rica is a very simple process, as long as it isn’t within 200 meters of the high tide line at the beach (this type of land has special rules.) Costa Rica’s real estate laws are primitive or non-existent, but they apply equally to both foreigners and Costa Ricans. The most important thing is to have a very trustworthy realtor and lawyer. Keep in mind that going with a “brand name” real estate agency is no guarantee of honesty or quality, since they are not regulated by the parent organizations, so the best thing to do is to check online for companies that have a good reputation and then to ask around to people who live in the area.
Real estate taxes are very low (less than 1%), but maintaining a property is often more expensive than people think, due to the high cost of imported materials, the often poor workmanship during construction, and the heavy wear-and-tear that results from Costa Rica’s harsh climate of intense sun and rain. Homes near the beach need even more maintenance. Luckily, a cute house can gain a good income as a vacation rental, usually enough to pay all these bills and generate a profit too.
Realtor.com – Website all about real estate. Did you know that the term “realtor” is a trademark?
My new favorite restaurant, Clandestina is not to be missed by food lovers staying anywhere near to Montezuma. Established in March 2015, Clandestina is the new kid on the block. The Oregon/Tico collaboration is a winner among locals and travelers alike, with artisan craft beers, made onsite by Butterfly Brewing Co. and delicious, exciting […]