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I am a licensed realtor and mortgage broker in florida. I am coming to costa rica to look at property in the jaco area. I have spent over 20 hours on the internet and speaking to realestate sales agents and even went to a seminar in miami to educate myself on what values are in certain areas and where is it hot and the best locations to buy and just get more information.
The bottom line is you have to do your homework. There is no regulating authority there and i have seen the same properties advertised for different prices at the same time. In the states we have “buyer beware” well in costa rica it is “be very aware”. There is nothing wrong with a person trying to sell you a property for as much as they can get,thats what it is all about, however you need to know what you are looking at or dont attempt to buy in a place like this. As in anywhere learning in the school of hard knocks is not always fun but again all i can say is do research,talk to lawyers,title companies,builders,property owners so you know what you are getting into and dont rely just on one sales agent to inform you of everything or you are destined for disaster.
Im not saying this as all sales agents are liars but they may not know everything or not feel obligated to tell you everything and that is the “wild west” so in the end if you dot your i’s and cross your t’s you should be fine.
The country should set up a regulatory body for licensing and charge a small fee for for the license that is a start,for both english and spanish speaking levels.
(EDITED, DUE TO CONTENT AND SELLING PROPERTY IN COSTA RICE)
Doug Fort lauderdale fl usaDoug,
I would advise you not to invest in Jaco. The area is booming because mostly investor/speculators are buying condo pre-sales.
What those seminars have not told you is that the traditional end-user in Costa Rica which are foreign retirees and vacation home buyers want nothing to do with Jaco.
It seems like around 80% of the buyers of these projects are investors like yourself. Ultimately, you will have to find an end-user to make money on your investment.
The crime is getting a bit out of control in Jaco – Petty theft & violent crime alike. Teenagers are approached multiple times per day by drug dealers selling crack.
There are far safer areas in Costa Rica to invest your capital in. These areas are safe and peaceful with many prospective buyers waiting in the wings.
I hope, for your sake, that those seminars are giving you all of the information that you need to make an educated investment.
Good Luck! Pura Vida!
Jeff HickcoxI agree, I just came back from jaco and the beach is a black sand that sticks to you,It is totally a surfing beach the waves are huge and great surfing but i found it not a swimming place,I was aggressively approached by drug dealers on one occasion who cursed me for ignoring them,I dont see american buyers enjoying this atmosphere. I will say it is ok to visit and spend a week or so but I would not live there. Like ive seen on signs
get wacko in jaco.I disagree
I’ve scene a lot of the same issues that were mentioned above in Jaco but as far as an investing in Jaco, it has been nothing short of a slam dunk for me. I purchased a pre-construction condo on the beach about a year ago & the equity is up close to $200,000.00. In addition, I bought another condo 3 months ago that I’m currently re-selling for over $100,000.00 profit. I’ve been working in the stock market for 12 years & Jaco is best investment I’ve ever made. In addition, the chamber of commerce is working hard to eliminate all of the issues that were mentioned. I see Jaco changing from a dusty surf town to a mini South Beach very soon.Sincerely
Happy Jaco Investor
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