It never fails. When I meet someone who has read any of the articles that I’ve written about Costa Rica, the number one question is: “Why are you always raving about Costa Rica real estate? That’s usually followed up by: “What does Costa Rica have that other places don’t have?" or “It just seems like it wouldn’t be a good idea to invest in real estate in a foreign country." The questions surprise me every time…but not because of what you’d think.
I’m never surprised that the questions are asked but rather at the fact that people still feel the need to ask the question. Though I’m a huge proponent of Costa Rica, I’m not the only person who knows about the great real estate opportunities there. I’m certainly not the only one who has made significant profits from investing in Costa Rica land either. Still, when I come across a person with a question or comment like that above, I just tell them the truth. I say, “I do it because right now, in this first decade of the 21st century, there is no better, safer place to invest money." You know what they say next? “Tell me more!" Here’s how I explain it to them…
Costa Rica has a lot of undeveloped land. About one quarter of it is protected to maintain the nation’s unique biodiversity but much of the land is earmarked for development purposes. Demand for land is strong, and steadily growing, but it doesn’t outweigh the supply YET. Therefore, prices for Costa Rica land lots are low. Inevitably, the person I’m speaking with asks, “How low?"
I usually give them an example. For instance, what comes to mind right now is a community in the southern Pacific of Costa Rica that I’ve heard about. There, an investor can purchase a half-acre to 1.25 acres of golf course or waterfront land for under $80,000. Add a four bedroom, three and half bathroom house to the mix and they could spend less than $200,000 for both. Property in any other similar location�"Hawaii, Jamaica, the Bahamas, Mexico, etc.�"would cost two to three times that much. Next, I tell them that property taxes one quarter of one percent of the value of the property, and then they’re really interested. (For those who aren’t math wizards, that’s about $250 for every $100,000!) After that, I give them my top financial reason for investing in Costa Rica real estate: The fact that returns of 100% or more in the first two years of ownership are common!
Once people learn about all of the financial perks of investing in Costa Rica real estate, they understand why I rave about Costa Rica and why investing in a foreign country is a good idea. It makes financial sense and millions of cents. The thing is, that conversation leads to a whole new conversation. It usually begins with, “Can you help me ________," but I don’t mind. Makes me feel good to help others get on the path to financial freedom and knowing what it feels like to own a piece of paradise.
by David Lovendahl, Developing Paradise TM
If there is one thing besides beautiful landscape that Costa Ricans are used to, it's foreigners. Every year, droves of tourists flock to Costa Rica to get away from the everyday grind. They arrive on Costa Rica land to smiling faces, which always starts a tourist's vacation off right. While real estate investors often visit Costa Rica more for business than pleasure, the opened-arms welcome from the Costa Rican people is the same. In fact, some might even say that investors are treated better than tourists.
People investing in Costa Rica real estate are given such a warm reception because of what they bring to Costa Rica, which is money. Lots of money! Commercial investors who buy up large amounts of Costa Rica land can spend hundreds of thousands or millions of dollars on their purchase. That's great for Costa Rica. And you know what? The government even offers incentives to these investors to make the idea of investing in Costa Rica real estate even more appealing.
What's even better for Costa Rica and its people is that when the developers begin construction on the land, building a new hotel, restaurant, spa or other business, that creates jobs and money for the locales. Then, once the construction is done on the investor's new Costa Rica real estate, tourists and locals flock to the establishment, where locals are working, and recycle even more money through the Costa Rican economy. This of course, is the best benefit of all of being nice to investors.
The story is similar for individual investors who by Costa Rica land or previously built Costa Rica real estate. Those investors also contribute the growth of Costa Rica's economy by paying mortgages, buying goods, and using local services. Again, Costa Rica likes this and individual investors sometimes also benefit from certain government buying incentives. So if you're thinking about buying a couple acres of scenic Costa Rica real estate, stop thinking and act. Costa Rica will be happy that you're there!
As you begin your investing process, keep in mind that you will need to consider alternative funding methods. As much as you're wanted in Costa Rica, you will be hard-pressed to find a Costa Rican bank that will provide a loan to you if you're not already a resident of Costa Rica. This, as well as the fact that there are many other unique laws for buying and selling both Costa Rica land and Costa Rica properties, is why purchasing real estate with the help of a real estate agent, land broker, and / or lawyer who specializes in Costa Rica real estate is highly recommended. With a little help from one of them, you'll have your property picked out and ready for use in no time!
Both Karen Lovendahl & David Lovendahl are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Karen Lovendahl has sinced written about articles on various topics from Kitchen Home Improvement, Computers and The Internet and Property Investment. Paradise Brokers is developing paradise in Costa Rica as a full service real estate investment, development and management company. Get. Karen Lovendahl's top article generates over 9900 views. to your Favourites.
David Lovendahl has sinced written about articles on various topics from Golf Guide, Real Estate and Travel and Leisure. About Paradise BrokersParadise Brokers ?>www.paradisebrokers.com is developing paradise in Costa Rica as a full service, turnkey re. David Lovendahl's top article generates over 60500 views. to your Favourites.