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My wife and I are interested in buying a home in Costa Rica. Our budget is around 175,000.00. Where can we get the most out of our money? We have visited almost all of Costa Rica and love it all. Do you have any recommendations? We are thinking maybe we should rent somewhere in January before we commit to buying a place. Can you recommend rentals on the Caribbean or the Pacific side? The only area we don’t really love is up in Guanacaste area. Too many gringos! Thank you for taking the time to help us. We love Costa Rica!!
Cheers, Jay
Renting for an extended time is the way to go.
Consider renting for a month at a time in some very different areas of the country, and you may find that in Guanacaste there are many areas [i]’not full of Gringos'[/i].
It is quite a different scenario to live here full time, from staying for a short visit so remember it is is very easy to buy property here but[i] very difficult to sell.[/i]
Also take into consideration the [url=www.arcr.net]requirements of obtaining residency[/url] that may alter your financial plans.There may be “too many gringos” for you in some areas but unless you speak fluent Spanish you might have trouble communicating in the areas where there aren’t any Gringos …
Renting before you buy is certainly sensible – although finding a quality rental is unfortunately not always easy – and, as you probably know prices are all over the place but in general, prices on the Caribbean coast will be more affordable than on the Pacific coast but there are always exceptions.
And contrary to what costaricafinca says, not all properties are “very difficult to sell.”
I would like to suggest that it might be more accurate to say that: “it is is easy to buy property here but depending on your pricing, your property and the area in which you are located, it may not be as easy to sell…”
The same would apply in any real estate market anywhere in the world.
Scott Oliver – Founder
WeLoveCostaRica.com and author of ‘How To Buy Costa Rica Real Estate Without Losing Your Camisa’[quote=”EliZinon”]My wife and I are interested in buying a home in Costa Rica. Our budget is around 175,000.00. Where can we get the most out of our money? We have visited almost all of Costa Rica and love it all. Do you have any recommendations? We are thinking maybe we should rent somewhere in January before we commit to buying a place. Can you recommend rentals on the Caribbean or the Pacific side? The only area we don’t really love is up in Guanacaste area. Too many gringos! Thank you for taking the time to help us. We love Costa Rica!!
Cheers, Jay[/quote]
RENT RENT RENT by all means – but 1 month will not be nearly long enough; also make sure you include some of
the ‘green’ season as part of your rental period. If you are near the coast, clearly you like it very hot. Back from the coast an hour or so (e.g., the Puriscal/Orotina area) it’s not so unpleasantly hot, and $175K will get you a really nice placeMake a list of what is important to you, in the way of facilities around the area such as the availability of hospitals, climate, internet access/speed, etc.
For a younger person, the beach area seems great until you realize that in case of an emergency the trip could take hours on that bumpy gravel road that didn’t used to bother you… and this same road may delay or even stop delivery of fresh produce, in some areas.Take the advise of the posters and rent for at least 6 months to a year. You will not regret it. I also believe that it is more difficult to sell here in this current market due to a glut of inventory and few buyers. This will put you in a great position to bargain and find a good deal.Don’t be intimidated by some of the unrealistic prices here either, just offer what you think the property is worth. Good Luck!
Not all of Guanacaste is full of gringos, and not all of Guanacaste is dusty bumpy roads. I can drive all the way from the airports in San Jose or Liberia to my home in Samara without ever touching an unpaved road, unless there are landslides on the main highways – and we all know that NEVER happens on the roads to the Carribean coast except maybe 4-5 days a week!
And the population of Samara is a very comfortable mix of gringos and Ticos, with very attractive pricing conditions right now for homes and/or property.
But seriously, as others have said it is much better to rent first and try several different locations to find what suits you best. Remember, living in CR is both an adventure to a new and different lifestyle, and a journey to determine what you really NEED to live comfortably versus what you WANT to live comfortably …… and it takes time to find out!
Welcome to Pura Vida and good luck on your adventure and your journey!
[b]costaricabill[/b] I didn’t mean for anyone to think that ‘our’ Guanacaste beaches are only reached via bumpy roads, but was trying to point out that some that are popular with the younger set may be harder to access and that for them this is not a concern until they get older….
[quote=”costaricafinca”][b]costaricabill[/b] I didn’t mean for anyone to think that ‘our’ Guanacaste beaches are only reached via bumpy roads, but was trying to point out that some that are popular with the younger set may be harder to access and that for them this is not a concern until they get older….[/quote]
I re-read it and now get your point, which is well made. Sorry for the misunderstanding.
Renting before you buy is certainly sensible – although finding a quality rental is unfortunately not always easy – and, as you probably know prices are all over the place And contrary to what costaricafinca says, not all properties are “very difficult to sell.”
I would like to suggest that it might be more accurate to say that: “it is is easy to buy property here but depending on your pricing, your property and the area in which you are located, it may not be as easy to sell…”
The same would apply in any real estate market anywhere in the world.
Scott has got it. Renting is the best way to go but, good rental values are as difficult to find as is good value purchases.
As far as a “slow market” I have sold every house I have built within 2 months of the roof going on. There are lesser value houses in this area that remain vacant for over a year.
We love living in “the lake district” near lake Arenal, it is cool year round (no ac bills) and near enough the beaches for a day trip – for $175,000 there are some extremely nice houses available.
Rent, don’t buy, until you’ve been here for at least a year or two. If you don’t, you’ll probably regret it.
Thank you, everyone for all the great info!!! I didn’t mean to offend anyone with the comment, “too many gringos”. We have been to that area about four times for a little over a week at a time and it just seemed like mostly gringos there. It is very lovely don’t get me wrong, just wanted a different experience than that. But our friends living there absolutely LOVE it and I am happy for everyone who does! I think we will rent in many different areas to get the feel of an area. It has been my experience that you really don’t know a place until you at least “live” there for a month or so. Thank you for all the time and effort into giving me this feedback! I really appreciate it. This forum has a cool group of people. Wish we could be neighbors! Cheers!:wink:
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