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Life in Central America: How to Purchase Real Estate in Costa Rica

Posted by Saul Rasminsky

If you are done with the hustle and bustle of daily city life and already looking forward to your retirement, there are home options for you in countries abundant with beautiful natural resources. The country of Costa Rica in Central America is one such place, aptly named “rich coast” in Spanish, thanks to its marvelous beaches. If you are one of these people looking to buy great Costa Rica real estate deals, here are some tips to help you manage your search.

Visit

What can be a better way to make sure Costa Rica is the place for your retirement than by visiting it? Check out the place and zero in on the ideal location in which you can finally enjoy the fruits of your labor. Get familiar with the ways of the locals and see if that's what you had in mind for your retirement years.

Find an Agent

Many real estate companies, such as Dominical Real Estate, can help you look for the place of your dream retirement home in Costa Rica. Make sure that you choose your agent well, and take care not to fall for scams. Do research on your potential agent, read reputable customer satisfaction comments and testimonials, or get recommendations from the agent's former clients.

Do Your Homework

Research is crucial even after you’ve finally hired an agent. Familiarize yourself with the legal matters about buying property or becoming a resident in Costa Rica. You'll be glad to know that real estate taxes reach a total of only about 2.5% of a property's value, but there might be some minor restrictions for foreign ownership. If there are other things you’re worried about, you can always hire an attorney to serve as a legal adviser.

Take Your Time

Plan out your home purchase long before you plan on moving, a year or two might be a good minimum. This will free you from the pressure that comes with closing in on a deadline—pressure that could potentially land you in a bad deal.

When you buy real estate in the small Uvita hamlet just 11 miles off Dominical, don’t give yourself reasons to make rash decisions. Buying a retirement home in a foreign country deserves a lot of time and thought. That is also the reason why getting a reputable and efficient agent is a great plus. 

Published Wednesday, April 24, 2013 12:22 AM by Saul Rasminsky

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May 21, 2018 2:57 AM

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