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Gone South: Why is that Retirees Are Buying Real Estate in Costa Rica?

Posted by Saul Rasminsky

Buying a home for your family would count as one of the most important investments you've ever made. However, soon after the kids have flown the coop to start their own families, you wonder, along with other many American seniors whether it is still practical  to keep your home, or start over in a smaller house in another part of town.  After all, the priorities and needs are different now, and the  funds may just be right for a household of one or two.

Recently, CNN Money released its recommendations for the best places to retire in America, and in their opinion, a city from the Tar Heel State topped the list:

Raleigh, N.C.
This state capital's thriving economy and proximity to top universities have long made it a prime relocation destination.....From 2000 to 2010 the city's population of 55- to 64-year-olds shot up by 97%, according to the Brookings Institution.

Raleigh provides a big-city feel with a low cost of living; mild, four-season weather; and, thanks to all those medical schools, world-class health care.

You don’t even have to confine your search within the country’s 50 states. About 50,000 retired Americans have crossed the southern border to buy real estate in Costa Rica to spend their golden years there. Expats can obtain residency status by proving that they receive at least $1000 in pension, Social Security, or retirement funds. Once they do, they can then enroll in the country’s top-notch public health-care system for a small monthly stipend. International Living Magazine says that health-care costs in Costa Rica is only about a third to a fifth of what it would cost stateside, and even private health insurance is markedly cheaper.

Many retirees live comfortably there on just $1000-$2000 a month, nearly impossible in the States. On that monthly budget, a retiree  need not sacrifice some luxuries like cable TV, internet, cell phones, and the occasional dinner out to enjoy his life in the new country.

The pleasant weather in Costa Rica is also a popular draw for retirees. In the Central Valley, people experience spring-like weather year-round, and homes rarely need heating or air-conditioning. Those who want warmer temperatures move closer to areas like Dominical with its popular beaches. 

If you think Costa Rica is the right place for you in which to retire, contact reliable Costa Rica real estate agents such as those from Dominical Real Estate to inquire about available property listings.


(Article Excerpt and Image from 10 Best Places To Retire In America In 2013, The Huffington Post, 29 October 2013)
Published Friday, November 15, 2013 10:48 PM by Saul Rasminsky

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