Real Estate Tips before Purchasing in Costa Rica

Costa Rica real estate business is becoming popular among real estate investors, buyers and sellers. Investors invest in commercial as well as residential projects in Costa Rica real estate. They earn a huge profit on investment. Similarly baby boomers also coming to Costa Rica for spending retired life. Every year a lot of tourist came in Costa Rica to enjoy vacations. All this is because of Costa Rica’s natural beauty, democratic government, and peaceful environment. Costa Rica possesses some of the beautiful beaches, wildlife, waterfalls, rain forests and numerous thundering rivers, and excellent lakes for windsurfing and boating.

Before purchasing any property in Costa Rica you need to understand basic rules and regulations. Otherwise there is a chance of frauds and errors. I would like to share some basic tips that are necessary for every one want to purchase property in Costa Rica real estate.

• Make sure the property you are about to purchase in not part of a nation park or is subject to restricted use.
• Make sure you know the real value of the property.
• If you buy in a remote region make sure you can bring electricity to the land. This can be expensive. Also check to see if the water supply is good in the area.
• Do not assume the seller or broker is trustworthy just because they speak English.
• If buying in the city or near a major street check the noise level. Make sure there are no dance halls, bars or noisy buses.
• Do not rely on a verbal contract if you decide to make an offer. Get everything in writing.
• Check out your neighbors. There is nothing worse than buying property and finding out later you had bad neighbors.
• If buying in the city it is extremely important to be familiar with the neighborhood where you decide to buy. Make sure you are not buying in a crime-ridden area.
• If you purchase a home, have an engineer make sure it is structurally sound. Also, check the plumbing, wiring, roof for leaks, water pressure and septic or sewage system.
• If you purchase raw land, be sure to get a soil sample and hire an engineer, especially if your lot has been cut out of a hillside.

These are the some precautionary measures you must follow before purchasing any property in Costa Rica real estate. For buying or selling property in Costa Rica you are advised to use the services of real estate broker or agent. Real estate agents have all the knowledge about market trends, current market situation and property listings. 

For reference about Costa Rica real Estate visit  http://www.costa-rican-real-estate.com/

Why consider buying real estate in Costa Rica?

Why consider buying real estate in Costa Rica? If you have ever visited Costa Rica, you would more than likely agree that the more appropriate question would be ‘why not?’

Costa Rica’s land area is 50 660 km2 and boasts 1 290 km of stunning, sandy coastline that are freely available to the public. The interior of the country holds its own beauty and variety in the form of coffee plantations, rain forests and steaming volcanoes.

Surrounded by the Caribbean Sea on the east and the Pacific Ocean on the west, the country is one of exceptional beauty. The ocean is warm, the sand varies in color from volcanic black, browns, red and whites and there are many species of insects, birds and animals inhabiting the country. All these reasons result in a huge source of eco tourism for Costa Rica.

There are 2 main seasons in Costa Rica, essentially being the wet and dry season. Dry season runs from December to April and rainy season from May to November. The climate and temperature levels are determined mostly by elevation with the sea level bringing tropical heat and humidity and cooler sub-tropical weather occurring in the mountains. The Central Valley which surrounds San Jose experiences spring-like weather all year round.

With all this natural beauty, it’s no wonder that people who visit Costa Rica often explore the option of moving there or purchasing a holiday home there. However, before investigating in Costa Rica real estate, potential investors should investigate all the benefits and main angles of this investment.

Costa Rica’s tourism is still flourishing but for how long, some think?  It’s hard to predict as one would have to believe the impact of world events would catch up with us sooner or later.

But, consider these facts:

1.  This year alone over 250,000 Americans will travel to Costa Rica and places like Thailand for affordable medical care. They will be seeking everything from root canals to heart transplants. The proximity to the USA and the high standard of health care Costa Rica offers suggest that a higher percentage will come here.

2. We keep seeing statistics that eco tourism / sustainable tourism is becoming one of the most sought after travel packages. This comes in many different forms, but one of the most popular is the vacationer seeking to get a feel for making their contribution to our planet by using these sustainable tourism facilities.

Last year it was reported by the accommodation industry that boutique hotels and B&B’s are the fastest growing segment of their industry.  And, Costa Rica is getting ready for the anticipated increase in business in this area, as well as more major, brand name resorts coming here.  For instance, the  $40,000,000 expansion to the Liberia international Airport will be completed this year. There will be many new flights and visitors.  Tourism is definitely up, and certainly, many of those visitors are interested in sustainable tourism, and others, medical tourism.

For those with a vision, a major eco-sustainable project, coupled with medical tourism, done by a well-financed developer, could make Costa Rica the focal point for the world. Costa Rica, with a land area of only 51.100 km2 (0.03% of the planet’s surface) and 589.000 km2 of territorial waters, is considered to be one of the 20 countries with greatest biodiversity in the world.  And, it is also considered to be one of the premier destinations for medical treatments, with its modern medical and dental facilities and well trained, professional, and English speaking, doctors.

Costa Rica Real Estate Law

One of the things that can make purchasing Costa Rica real estate so difficult is the many small details in Costa Rica real estate law. Many of these can make or break your closing as well as reduce the worth of your property down the line if you are not careful. Whether you are a small investor looking for a piece of property in Costa Rica to retire on, or a large investor looking for properties in Costa Rica to purchase and develop, you need to know about a few small laws that will determine the future of your real estate investments. 

First of all, pretty much most investors want a piece of the beautiful Coast Rica beach front real estate. However, getting around the maritime law can be difficult and confusing, plus it involves a large amount of funds and time to actually purchase a chunk you can own. Even then you will only own 49%, so you had better really have your heart set if you want maritime property. Otherwise, you might consider some other prime Costa Rica real estate that is set a little further back along the coast. Ask about the titled beach front properties in Jaco, these are fully titled and do not involve concession laws. It is important that you talk to a qualified real estate agent because the nuances of what you can do and what the law says, can be entirely two different things despite your next door neighbor actions. 

Second, you need to know that it is possible to get handed a bad title, and even a property sold with the wrong deed. Working with part time real estate agents will give you part time results. It the title of your property begins to display problems you can watch these disappear when issues are caught in the government processing of your Costa Rica real estate transaction. So employ a reputable lawyer and real estate agent you can trust from. Use some common sense when choosing an agent, work with someone who has demonstrated successful real estate transactions with satisfied clients. It is not hard to find these agents as clients usually are all too willing to give a reference or referral.

Required Documents to buy Costa Rica Real Estate:

• Foreigners must have a valid Passport or Proof of Residency card. Costa Ricans must provide their ID
• Corporations must be duly registered in Costa Rica and the legal representative must provide the corporate card and a certificate of incorporation in good standing.
• A Municipal Certificate from the local Municipality must show that taxes are paid and that the seller has no debts within that municipality.
• A Cadastral Survey, duly recorded in the National Register, is necessary for each Costa Rica real estate property transaction.
• Real Estate Property Registry Report showing that the property is free of liens, mortgages, annotations and encumbrances.
• A power of attorney may be used if one of the parties will not be present at the time of signing the sales documents.

If you are interested in finding a property in Costa Rica contact Costa Rican Real Estate and let the team of professionals help you achieve your goals of owning a piece of Costa Rican paradise. Visit us at http://www.costa-rican-real-estate.com

Finding the Right Real Estate Agent in Costa Rica

For buying or selling property in Costa Rica you are advised to use the services of real estate broker or agent. Real estate agents have all the knowledge about market trends, current market situation and property listings. They offered many services for buyers and sellers. In fact they act as a communication bridge between buyer and seller. Real estate agents normally collect a 5% commission or higher. In order to find a competent, honest broker, it is wise to talk to other expatriates or contact the local Chamber of Real Estate Brokers or Cámara Costarricense de Bienes Raíces. 

The question arises in mind that advising with an agent is necessary or not? I would like to share some reasons defining how it is important to work with a good broker.

1. An agent can save your time by showing you just what you want.
2. He will never let you agreed upon on wrong deal.
3. A good broker can help you find a fair-priced property.
4. A good broker will know all of the good areas and will not waste your time showing you undesirable neighborhoods. A broker who knows you are working faithfully with him will go all out to help you find what you want.
5. Working with a broker in Costa Rica real estate business is similar to working with a broker back home. If you are patient, loyal and have confidence in your broker you will find what you want.
6. Brokers offer a wide range of properties. They sell a little bit of everything: houses, lots, commercial, condos, and even fincas (farms). Therefore, it is best to find a broker who specializes inexactly what you are looking for. A person who sells at the beach cannot possible be an expert in properties in the Central Valley.

Costa Rica real estate agencies take the advantage of modern means of technology and improve their standards by building the websites, blogs, and forums etc where all the information regarding Costa Rica Real Estate property is present i.e. property rates, buying and selling options, rent a property options etc. Users just go to the website and access all the necessary information. Similarly online blogs and forums are also formed where buyers and sellers from different area of the world communicate with each other and discuss the issues regarding Cost Rica Real Estate, bargain with each other and take help from Cost Rica Real Estate agents.

In the light of above reasons one should easily understand the importance of real estate agent. Buyers or sellers who want to be a part of Costa Rica real estate business must find right agent. He would offer a fair deal which will be helpful for investors in achieving business goals.

For reference visit  http://www.costa-rican-real-estate.com/

Why Buy Costa Rica Real Estate?

Investing in Costa Rica real estate is a great option for real estate investors. Many US investors are looking for investment in Costa Rica. According to recent reports, investing in Costa Rica allows for an ideal return on investment because costs are low, the location is ideal for tourism and it offers excellent resources to second home buyers. In Latin American property, Costa Rica is the largest, most sought after property market.

There are many reasons why someone buy Costa Rica real estate?40 million baby-boomers are currently entering retirement over the next few years, and many are looking for a higher quality of life than they can find in the U.S.  The U.S. Census Bureau defines the Baby Boomers as those born between January 1st, 1946 and December 31st, 1964. They want to spend their retired life in Costa Rica due to its beautiful climate. Violent crime is a problem in almost all of Central American countries except Costa Rica, where it’s rare. Costa Rica has lowest crime rate as compared to other countries of U.S.  There is no Malaria in Costa Rica. No army. Little pollution compared with other nearby countries and a stable, booming Democratic government.

With good and experienced legal help, it is not difficult to get permanent residence in Costa Rica. In order to qualify for retired status, the applicant must show proof of $1,000 in monthly income from a qualified pension plan. A married couple needs to show proof of only one pension of $1,000 per month. Pensioned agree to live in Costa Rica for a minimum of 121 days (approx. 4 months) per year and there is no maximum. Since most people looking to retire qualify for pensioned status and want to live in Costa Rica more than 4 months out of the year, the requirements for being a resident are more than manageable.

Real estate markets in the U.S. have topped out, making investing in the U.S. an unattractive option, and prices in many areas of the U.S. are expected to drop. Therefore, many top real estate investing experts are advising their clients to buy outside the U.S. Costa Rica’s real estate is steadily increasing prices (20-50% per year) to ensure a good return on your investment. So it is a great option for investment. The CIA’s assessment of world real estate in 2007 rated Costa Rica as one of the TOP 5 best real estate investments.

In conclusion, I would suggest if someone has capital for investment then he should invest in Costa Rica real estate. It would be helpful for him in future to attain his business goal and plans. He will get a huge return on investment.

For more reference check http://www.costa-rican-real-estate.com/

Costa Rica Real Estate

vacation properties in Costa Rica

Purchasing Costa Rica real estate can be one of the most important decisions that a person can make. It can also be a very stressful time for an individual(s). Many U.S. citizens are considering buying property in other countries because the lower cost of living, and there are many factors that they are concerned about, such as language barriers, quality of medical care(currently Costa Rica has an average life span several years longer than the United States), and safety concerns associated with being unfamiliar with the territory. However, Americans who purchase Costa Rica real estate do not seem to have nearly as many problems as in other countries and they can easily qualify for pensionado or rentista programs which favor U.S. retirees. In fact, Costa Rica is known as an excellent place for individuals to buy or rent Costa Rica real estate.

Many Americans discover a home away from home in Costa Rica. They buy or rent beautiful Costa Rica real estate so they can experience this exquisite country which is more affordable than most places in the world, especially the United States. Visitors can rent Costa Rica real estate that ranges from the basic amenities to luxury and elegant accommodations. There are prices to meet any budget. Whether people want short term lodging, extended stay accommodations, or they are relocating, Costa Rica real estate has something for everyone.

Costa Rica is a place that will provide the opportunity for various thrills to be achieved on the water or in the diverse and beautiful terrain, yet it will also present situations of calm, peace, and if you desire it, luxury. Rough adventures are there to be had should you choose to take an eco-tour of the rainforest, a surfing lesson on a world class beach, or head underground to explore the depths of a cave. After such excursions, however, you may find yourself craving a good meal, a soft bed, and in general, a space to rest and nest. The abundance of vacationproperties in Costa Rica make experiencing the full holiday experience a sure thing, so take a closer look at going this route.

Many Americans choose to invest in Costa Rica real estate and have been selling for huge profits for years. To some people, this small country signifies beauty, peace, and money return. Whether you are a U.S. citizen looking to go on a family vacation, retirement location, or just a second home, Costa Rica real estate will fit everyone’s needs.

Costa Rica is known as a place for vacations, investments, and retirement. The people are friendly and the weather is outstanding. Therefore, Costa Rica real estate is a booming industry. It is a country where individuals can own or rent property and just sit back and enjoy the breath-taking scenery that Costa Rica real estate has to offer.

How long does it take to find property in Costa Rica?

As long as you want. Personally the number one problem I find in searching for real estate in Costa Rica is that everyone is a real estate agent. Why? Because the country lacks a structured  real estate licensing program. This means that just about anyone can sell property. Not only that, if you want $300,000 for your property and they can get $350,000, you get $300,000 and the agent can keep the remaining $50,000.

Not really, because this becomes an incredible incentive to say just about anything to make a sale. Not good for most buyers.

On top of this, most sellers have 5-10 agents representing the same property. First one to sell wins! Again,another incentive to make a sale no matter what.

When buying a house, hire your own people. You may toy with the idea of using the seller's appraiser and home inspector, but ultimately do not choose to do so. No one likes spending money on something they could get for free. With that having been said, it is still in your best interests to hire your own workforce so that you have people that you can personally hold accountable. It could save you a ton of money later in life by knowing that you are getting an unfettered understanding of your potential investment.

Investing in real estate is always a risky situation. The housing bubble has finally popped, so house prices are at sane levels again. If you've always dreamed of owning a home, now is the time to buy. If you keep your property long enough, you are sure to gain a profit.

Do you now feel you are ready to buy a home? Hopefully, these tips will ease your concerns. Apply the suggestions that fit your circumstances to maximize your success. Purchasing real estate doesn't have to be frustrating or difficult. Think about how it feels to have a piece of property you can call your own. As you tour prospective properties, pay close attention to costs and choose wisely.