Costa Rica Real Estate is a Real Bargain for Brits

I was hoping to escape to Scotland for my first vacation in many years without notice but when our VIP Members failed to receive their usual weekly newsletter, the emails started trickling in asking if all was well.

Thank you for your caring thoughts and concern and yes! I’m fine…

It’s great to be back in Scotland, my birthplace but, although July is typically a good weather month, we did not anticipate the worst flooding in the UK in over fifty years and some idiot nearly burning himself to death outside Glasgow airport in a failed terrorist bombing attempt.

Welcome come home son!

Most of my real estate research and comparisons are done with the US in mind where the majority of our VIP Members are from however, we do have a growing number of non-US members so we keep in touch with the prices in Europe and the UK.

The average home in the UK now costs nearly 80% more than the average home in the USA.

The average home in the UK costs just under US$400,000 and is definitely smaller in size than the average ‘existing’ home in the USA which sells for US$223,000 while the average ‘new home’ in the USA sells for $236,100 according to the National Association of Realtors.

This might explain why so many US real estate companies are marketing into the UK…

Having said that, it is difficult to make price per square foot comparisons since nobody gives you the total size of the home. The Realtor will give you the dimensions of each room but nobody – and I mean – nobody has been able to tell me the total square footage of a single home.

I was asked how much our new 3,000 + square foot, US$310,000 home in Santa Ana, Costa Rica would cost in the area we were visiting on the border of Scotland and England.

In looking around for about ten days, it become clear that prices for a similar quality, comparable sized home here would start at about GBP£450,000 which is over US$900,000 and we’re not talking about a location fifteen minutes from a big city as we are in Costa Rica.

Those comparisons are for new homes we found in an area 1 1/2 hours away from Edinburgh. A home of this size and quality fifteen minutes away from Edinburgh or Glasgow would cost well over US$1,000,000

The cost of living in Costa Rica it’s clearly more affordable than most places in North America but compared to real estate prices and the cost of living in the UK and most of Europe, Costa Rica real estate is a very real bargain.

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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.

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.