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Costa Rica Real Estate and Retirement: How to Live Cost-effectively

Posted by Saul Rasminsky

Moving to Costa Rica, this “Little Switzerland” of Central America, is a thrilling prospect for many people. If you are one of the multitude thinking of purchasing real estate in Costa Rica, but are worried that you might end up stretching your finances too thin, you might be surprised to learn how affordable living in the country is. Marcel Evans attempts to lay it down for you in his article for the Costa Rica Star:
In piecing it all together, I estimated that if someone said (cost of living in Costa Rica) was inexpensive now, then it could be, in fact, possible to live cheaply in Costa Rica. And since moving here, that has precisely been my experience. For July, I decided to find out exactly how cheaply I could live here. I did pretty well.

For the month of July, I lived on roughly $715. By lived I mean that it is now August and I’m still alive. Very little more, very little less. To put my expenses into context, I live in an efficiency apartment in Jacó, Costa Rica and I don’t own a car. Here is a basic breakdown of the outflow of dollars during July.

Housing: $240
Utilities (electric/internet): $25
Online Services: $60
Transportation (taxis): $5
Food: $200
Cigarettes: $100
Fees: $30
Entertainment: $55

Do you think this is workable for you? Then moving to Costa Rica can be a really smart decision on your part. To help make the transition even easier, here are some Costa Rica home buying tips that you should know:

Ask yourself first: how long do you plan to stay in the country? Five years? Longer? If you plan to live full time in Costa Rica, renting should be out of the equation. By buying a property, you’ll have little to worry about in terms of the tourism industry, the health of the local economy, and the real estate market.

Another thing you can do to make moving to Costa Rica even simpler is to take only the most important items with you when you move. Shipping all your items to Costa Rica can get expensive, not to mention unnecessary since many items are already available in the country. It can be more cost- effective to pack light and buy the items that you need when you arrive. 

For help regarding your Costa Rica real estate purchase, brokers like Dominical Real Estate can provide you with all the tools and information you’ll ever need.


(Article information and image from Living Cheaply in Costa Rica, Costa Rica Star, Aug. 10, 2013)
Published Wednesday, January 01, 2014 8:03 PM by Saul Rasminsky

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