Buying Costa Rica Land & Building Your Own Home. Promoters who are rarely real developers.
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There are numerous promoters of Costa Rica Land For Sale, many of whom have zero experience whatsoever in ‘developing’ anything anywhere in the world. They are promoters and not developers.
These promoters know how to sell – and sell hard – but, do they know how to build the home that you have been dreaming of?
It’s not difficult to sell you on your own dream – you’ve already sold yourself – but 99% of the time, they can only sell you the ‘sizzle’ and not the steak.
For example, why would a ‘developer’ who has sold thousands of lots spread out over more than a dozen different ‘projects’ on thousands of acres of land only have five homes built on all of them? Why have they built more gatehouses than houses?
If you are OK with the idea of sharing your access roads with dozens of trucks, excavation equipment, hundreds of construction workers, constant dust during the dry season and, in the rainy season – lots of mud, then living on a construction site where people could be building their own homes for the next 25 years could be right for you.
Many promoters stretch the truth (he said politely) and will boast of how the “new international airport” that is to be built near their property will enable you to “double your money.” Shame it’s not true!
We would encourage you not to believe the promises of money back guarantees and visit the property before you even think about buying it…
Nine Tips When Buying Costa Rica Land and Building Your Own Home in Costa Rica.
- You must make sure that the property is free and clear of any lien, encumbrance, or annotation. Your lawyer (and never the seller’s attorney) can check this for you as the National Registry can be viewed via the Internet.
- You must be informed about your services, water and electricity. If you are buying Costa Rica land in a gated community or development and services are not readily already installed, be cautious!
- Your contract you should clearly state water and electrical service will be available at the property line. Get a contractual agreement that clearly states it is to the property line, not simply that it will be available.
- When buying Costa Rica land, you must be aware of possible drainage and erosion problems. Look closely at the surrounding land and see where the rain water will drain.
- Make sure that proper drainage systems and erosion controls are in place and if necessary make them a part of your purchasing contract if they affect your property and or the road getting to your property.
- If you are buying Costa Rica land on a hill that has been cut, get a compaction test be done to ensure that the land is stable and can be safely built on.
- Get a perk test done because you will probably have to put in your own septic system and this must drain properly.
- If you are buying property here with an an ocean view and privacy is important to you, make sure your future neighbours will not be able to disturb your privacy or block your view.
- Review the registered restrictions on the neighboring lots if you are buying in a development.
When buying Costa Rica real estate – Take your time, be thorough and seek the advice of experienced professionals to assist you.
Written by Scott Oliver, author of How To Buy Costa Rica Real Estate Without Losing Your Camisa and Costa Rica’s Guide To Making Money Offshore.
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