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Old 07-29-2005, 11:27 AM   #1
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Default Buying land/homes in Costa Rica?

I caught the tail end of a show on NPR last nite, on the ride home. I guess there's a lot of speculators buying land and dwelling really cheap.

Anyone know much about it?
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Old 07-29-2005, 11:28 AM   #2
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It's been happening for a decade or better.

Costa Rica is the biggest "near-sourcing" location aside from Canada and Mexico. Tons of Americans and American companies move there.
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Old 07-29-2005, 11:30 AM   #3
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I did some light research, it seems that you can get several acres of waterfront property for like 50k???
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Old 07-29-2005, 11:32 AM   #4
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Probably, but I'd be careful about who you trust with your money when making the transaction.

Plus, check out the laws down there. It's a different country (obviously) and owning land may also impose certain responsibilities - I dunno.
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Old 07-29-2005, 11:33 AM   #5
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Other than a friend of mine retiring at 48 and moving there, and purchasing a beach house and mountain house for 150K total, I dunno.
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Old 07-29-2005, 11:35 AM   #6
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Quote:
Originally Posted by dcmomentum
I did some light research, it seems that you can get several acres of waterfront property for like 50k???
very true. was there vacationing a few months ago, and looked into some real estate. beachfront property is dirt cheap, and an investment i am looking into. tourism down there is getting bigger each year..
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Old 07-29-2005, 11:36 AM   #7
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Quote:
Originally Posted by cakes25rs
very true. was there vacationing a few months ago, and looked into some real estate. beachfront property is dirt cheap, and an investment i am looking into. tourism down there is getting bigger each year..
Would be nice to have a place to retire to, all paid for. Nothing says I have to stay in the US. It seems that doing a market shift and retiring early would be very easy to do.
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Old 07-29-2005, 11:38 AM   #8
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Not Costa Rica, but my brother bought a 3/4 acre beachfront lot in Uruguay along the 'South American Riviera' between Montevideo and Punta del Este for $32K back in '02. He built a small 'quincho' and has about $70K in it all told now. I think market value has about doubled in three years. Still cheap though....I am thinking about buying the lot next to him.
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Old 07-29-2005, 11:40 AM   #9
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actually, i do.
while in samara, i got curious and headed over to one of the several real estate agencys there (century 21 as luck would have it.)
beach front property in Samara, a decent restaraunt sized chunk, maybe 150x200 ft. costs about $60k US.

i wish i had some capital.


p.s. this is ON the damn beach... as in: your customers will walk in out of the ocean, and you will get hit by the occasional soccerball / frisbee / dog playing fetch.


for living, i'm not sure, i was interested more in beachfront.

Last edited by Samuelleeogden; 07-29-2005 at 11:47 AM.
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Old 07-29-2005, 11:46 AM   #10
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Also: i know that if your buisness employs three Ticos or more, you are exempt from almost all fees, taxes, and regulations... it's as if you were native.
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Old 07-29-2005, 11:48 AM   #11
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If I was going to buy land anywhere in that region it would be Costa Rica, they have the best infrastucture, the longest standing democracy in the region, an influx of US Multi National Corps (IBM, Intel. etc...) a good, stabile economy and your USD is worth about 3 times as much down there.
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Old 07-29-2005, 11:49 AM   #12
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Many people are retiring there. Property is considerably cheaper than here and the cost of living is lower also. Many people buy vacation homes there as well - they don't expect a large rental income from the 46+ weeks they aren't there. Foreigners can own land in Costa Rica.

Remember, it is MUCH hotter and more humid than Maryland. Also subject to hurricanes.
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Old 07-29-2005, 12:05 PM   #13
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Quote:
Originally Posted by HoRo1
Many people are retiring there. Property is considerably cheaper than here and the cost of living is lower also. Many people buy vacation homes there as well - they don't expect a large rental income from the 46+ weeks they aren't there. Foreigners can own land in Costa Rica.

Remember, it is MUCH hotter and more humid than Maryland. Also subject to hurricanes.
I'd live in Florida or Oahu if they had a better job market. I hate the cold! Not that I would move to Costa Rica for the job market, I'm thinking about the investment, plus retiring early.
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Old 07-29-2005, 12:07 PM   #14
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Where would someone find a lender that would finance a purchase in Costa Rica?
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Old 07-29-2005, 12:10 PM   #15
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I missed that story but it sounds interesting.
If only I spoke spanish.
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Old 07-29-2005, 12:11 PM   #16
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Check out: http://www.escapeartist.com/efan/efan1.htm

Escape From America is a monthly ezine that is totally focused on living abroad, buying real estate abroad, investing, etc. I've seen a lot of articles there about buying in Central America.
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Old 07-29-2005, 12:14 PM   #17
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Quote:
Originally Posted by ZMANNH25rs
If I was going to buy land anywhere in that region it would be Costa Rica, they have the best infrastucture, the longest standing democracy in the region, an influx of US Multi National Corps (IBM, Intel. etc...) a good, stabile economy and your USD is worth about 3 times as much down there.
not to mention that Lake Arenal provides all the power for nicaragua, panama, and costa rica. good people, they are proud of their country and respect tourism since it provides many jobs.
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Old 07-29-2005, 12:14 PM   #18
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Quote:
Originally Posted by Beer:30
I missed that story but it sounds interesting.
If only I spoke spanish.
Spanish is very easy, and from what I hear you can get by there on just a few phrases. I speak it pretty fluently, so no worries for me.

I just need to think realistically about retirement. Do I really want to work until I'm 60? NO!
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Old 07-29-2005, 12:14 PM   #19
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Quote:
Originally Posted by Lunajett
Check out: http://www.escapeartist.com/efan/efan1.htm

Escape From America is a monthly ezine that is totally focused on living abroad, buying real estate abroad, investing, etc. I've seen a lot of articles there about buying in Central America.
Thanks so much, that's exactly some info I was looking for.
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Old 07-29-2005, 12:22 PM   #20
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Quote:
Originally Posted by dcmomentum
Spanish is very easy, and from what I hear you can get by there on just a few phrases. I speak it pretty fluently, so no worries for me.

I just need to think realistically about retirement. Do I really want to work until I'm 60? NO!
true.
many people where I stayed spoke english well enough, and several better then the hispanic people who live here in the US.
of course, i speak a good swath of the language.

(Sam just got back last saturday.)
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Old 07-29-2005, 12:24 PM   #21
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Quote:
Originally Posted by Samuelleeogden
true.
many people where I stayed spoke english well enough, and several better then the hispanic people who live here in the US.
of course, i speak a good swath of the language.

(Sam just got back last saturday.)
where did you stay? i stayed at tabacon and the grand papagayo..tabacon was great, but ill never stay at the latter again.
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Old 07-29-2005, 12:32 PM   #22
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Samara, small small beach town, about 1/3 of the size of Tamarind, with less touristy BS (still got SOME)

all the people there are really cool.
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Old 07-29-2005, 12:38 PM   #23
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Took a quick look and it really looks nice down there.
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Old 07-29-2005, 12:41 PM   #24
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Quote:
Originally Posted by Beer:30
Took a quick look and it really looks nice down there.
it is. volcanoes, rainforest (cloudforest), whitesand beaches. everything in one place...
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Old 07-29-2005, 12:48 PM   #25
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Allan Weisbecker (Cosmic Banditos) lives down there.

He is a surfer and moved there for the perfect waves outside his front door. He is pretty laid back but hard core and practical at the same time. He has written extensively and from personal experience about buying land down there:

http://www.aweisbecker.com/
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