You are planning to invest into a future real estate development in Costa Rica. You see all those free magazines with pages and pages of real estate developers advertising houses, condos, offices and warehouses for sale, and they all look beautiful. But for one reason or another you are not ready to purchase yet, though you are excited about the possibilities.
Deciding where to look for a vacation home in Costa Rica can be a bit overwhelming, so here is what you need to consider in deciding on where to make your dream come true.
Rebecca Clower is no stranger to reality television. The expat realtor and owner of Blue Water Properties of Costa Rica was featured on “House Hunters International” about a year-and-a-half ago and recalls three appearances on HGTV Canada. Next month, it will be Costa Rica’s time to shine on HGTV’s “Beachfront Bargain Hunt.”
Costa Rica remains one of the world’s most attractive destinations for tourists and residential investors. A first vacation often plants the mental seed about investing in the future. Subsequent visits can turn early dreams into action plans, and once committed to an exploration, the natural question is, “How do I start?”
Purchasing property in Costa Rica sounds like an intriguing idea to just about anyone. Most who have been fortunate enough to travel here have had the thought cross their mind at some point between the beaches, volcanoes and rain forests. When you have such diversity in a piece of land the size of West Virginia, you’re going to capture the imagination of more than a few potential investors.
Starting your own bed and breakfast could be a fabulous idea, especially if you own a large house in the right location. Not to mention the additional income can come in handy, so long as you’re a people person.
Potential property owners are likely quite familiar with property taxes. However, a relatively newer tax has hit the real estate market that you should keep in mind should you consider purchasing property in Costa Rica. It’s called the Impuesto Solidario para el Fortalecimiento de Programas de Vivienda (roughly translated as the Solidarity Tax for the Strengthening of Housing Programs)
Before you start packing your bags, there are a few things to keep in mind. Here are some suggestions to help make your move to Costa Rica a happy one.
To truly call Costa Rica home, you’ll need to apply for residency. Here are five basic types of residency in Costa Rica, with a bit of information to get you started.
Recent data released by the Costa Rican Construction Chamber (CCC) reflect relatively slow growth from October 2013 to September 2014. The CCC report suggests that both public and private construction stagnated during the yearlong period, and previous estimates for public construction did not materialize, particularly in the area of power generation.
