1 Feb 2019
The crude winter that hits North America and Europe makes many people think of the possibility of buying real estate in Costa Rica, a tropical paradise where the average annual temperature ranges between 70 to 81 degrees Fahrenheit, but that is just one of the many reasons that year after year people from all around the world choose to invest in property in this Central American country. Stunning beaches and amazing lush forests that provide wonderful scenarios and some of the world´s most beautiful sunsets; friendly people, a peaceful country that offers access to modern world commodities but can also take you away from the day to day rush and take you into the sounds of nature; Costa Rica continues to top the lists as one of the best countries to retire, and it´s not by chance.
Buying real estate in Costa Rica is also still affordable when compared to prices in the United States, and it can be a great investment if buyers take their time to really do the necessary research to ensure the increase on property value and the possibility of having a second home that can not only pay for itself but also become a very good source of income.
If you are considering buying real estate in Costa Rica, let us offer you 5 easy steps that can make this journey a lot simpler:
Find a Good Real Estate Agent: Although not paying a commission may sound tempting, it is important to consider that buying real estate in a foreign country always carries its risks. A good real estate agent can not only open your eyes to many different possibilities you may have not taken into account but they will also be able to offer insights on the pros and cons of buying in a particular area, the right price for a property, and even offer detailed and important information on how likely you are to get a return on your investment and the best way to manage it. Agents such as HRG and Palms International realty have proven over the years to be experts throughout Costa Rica.
Location, Location, Location: Yes, this is always one of the main things to take into account, Costa Rica has several expats communities that are worth looking into, but when you are ready to invest you should always take your time to explore the area where you are buying if you want to really secure your investment, for example, buying property in a gated luxury beach community such as Los Sueños is a win-win alternative, you will guarantee your investment and its high demand area, ideal if you want to rent it out.
Experienced and Reliable Attorney: If a good real estate agent is important and necessary, so is an experienced trustworthy attorney. You often hear about scams and problems people have encountered when buying property in a foreign country. Investing in real estate can be an enjoyable and smooth experience that will bring you a positive financial outcome or it can turn into a nightmare. If you are looking for a recommendation on a trustworthy bilingual real estate attorney in Costa Rica feel free to reach out to attorney Allan Garro at firstname.lastname@example.org or 506-2592-4434.
Take Your Time on Home Inspections: House inspections are many times tedious, but they are a must if you don´t want those bad surprises later. Take your time to go through the property you are interested in, not once but several times at different times of the day, if possible take an engineer, architect or home inspector friend that can offer a different opinion on the possible work that needs to be done. Be thorough.
Private Financing: If you opt for private financing take into consideration that these companies generally only like to lend in high turn over, secure areas. Do your homework and get all the details on private financing requisites prior to making a decision on a property. Take a look at Loans Costa Rica or Fast Costa Rica Finance for reliable options.