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Hi Folks,
Looking for some advice. We just got back from Tambor and just loved the people and the scenery. We would have preferred a white sand beach but were happy with the lack of tourism there. We would love to retire in Costa Rica but we were only able to visit from Curvo (loved them all) to Montezuma. Since we would not retire for over a decade what makes sense to do now???…just buy land and sit on it? Buy a condo and rent since we would only use it 1 or 2 weeks a year at most. We are looking now so we will not be priced out of the market. Any suggestions and comments would be welcome.
ThxBuy land and sit on it, there not making it anymore. This is not as simple as you think. The 1st steps would be to set up a corp. or a Sociedad Anonima (S.A.) in most latin countries. This will allow you to open a bank account. Find a good lawyer and stick with him for all your business needs; Scott has mentioned the best one on this site and he is the author of the legal book that is advertised. A must read by the way. 2 or 3 times even. Buena Suerte.
buy now if you can. Consider it an investment and a way to diversify your portfolio. There will be a continuing cost to maintain the land in the form of minimal taxes and perhaps a small monthly amount to pay a local for care taking but I strongly suspect that real estate values will be going up for a while longer. WHO KNOWS how much the same piece of property will cost in 2020?
Plus, I can tell you from personal experience, owning your own piece of paradise can make you feel pretty good while you slog through the daily routine here in the States.
Buy a piece of land and sit on it. Make sure you hire an attorney, create a Costa Rican Corporation (LLC preferred), open a bank account, fence the property well and hire a local person to live and maintain the property on a regular basis to keep squatters away. Also, make sure that you either sign a “professional services” contract or pay add this person to your Corporation’s monthly payroll. If you pay them “under the table” they may claim your land after 15 years of living in it. Enjoy paradise!!!
Wait, wait, wait…….. prices will go down. Look at the other article about housing and the financials. Not only problems in the US, read the AM-Costarica, Tico-Times.
Can you look 5 years ahead ? 15 years ? Do you want to take care of the ground like Alvaro writes….?
while we wait for Scott’s Day of Doom when the U.S. falls into a terminal depression, where will you put your cash? Will you put it in a bank or a money market account? In addition to inflation, the dollar is sliding in value and will probably continue so your cash will be worth less and less. Will you invest in U.S real estate? That is going to stay flat for quite a while longer. Stocks, Bonds and commodities cannot grow beyond the general economy, which, according to many experts is headed down.
I have no idea what CR real estate will do. Not a clue. I bought a piece of land as a
place to live, not as an investment. At some point, one has to have a bit of faith that the world is not going to end. At some point, some of your wealth has to considered as a consumable and not a perpetual gaming chit. If you are considering buying land because you love the place, go for it, If you are considering this as an investment, you are rolling the dice with a lot of other people.what pepole dont know is that this all has to happen in the USA , we are on the way to a global economy ,look the dollar is weak the economy is not good .it is all part to bring all countrys to the same level
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