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I have a quick question for Scott. I am curious to know if the land for your new cabin construction is within a gated community or some type of association where property is guarded. I ask because the cost of 5000 square meters of land for $40k seems a bit high unless there is some sort of added value attached. I note that your build site has a wonderful view of a valley and there may be many other factors as well which are reflected in the price. Could you list the reasons why you chose that particular piece of land.
You are an expert on real estate and seem to be a good businessman who makes sound decisions so I can safely assume the price you paid is a fair one. If the property is not in a guarded community, if it is just another piece of beautiful Costa Rican scenery near a small town and it is now selling for $8 a sq mtr, then can I assume land prices have not fallen yet?
I think the price is quite good for a remote location with site work (leveling) aready completed and a killer view! But to each his own! I’m very much enjoying the series and the pictures as well as the ongoing tab on expenses. And hats off to Scott for using the local hardware store…. even if the price is a bit higher!
Keep the pictures coming!!!
If the property is anywhere in the central valley, 8$/m2 is a great price. Check out the prices in La Garita, Atenas, Grecia and many other areas to get an idea what is being asked.
First of all, I do not want to misrepresent this home in any way. This is not a traditional “log home” which would certainly be more expensive to build – It is a home built using prebuilt half log panels some of which you can see at: [ https://www.welovecostarica.com/members/343.cfm ]
In these rural areas, you can have “gated communities” but one must be somewhat liberal with the definition of “gated community.”
The US$8M2 price I paid for 5,000M2 was a very fair price indeed and I certainly could have paid a lot more. There is one Costa Rica family that own this mountain as well as the neighbouring mountain, there is only one entrance, there is a secured gate but so far there is no guard. There are only about 20 homes on this mountain and they are certainly the most luxurious homes in the area.
Anyone reaching my property could only do so with a 4X4 in very good condition – a regular car would never make it. My property is the furthest up the mountain and when the construction is finished we will be installing a gated entrance at the end of the driveway which is about 150M away from the home – which will also help deter all except the most industrious thieves. During construction, one of the workers is sleeping on the property.
I should also point out that we never had a single incident of crime or theft of any kind with the previous mountain home and obviously hope that we will enjoy the same tranquility in the new place.
Scott Oliver – Founder
WeLoveCostaRica.comThanks for the info, Scott. It sounds like Central Valley prices have gone up somewhat since 2006 whenI purchased 12,000 sq mtrs for about $4 per square meter.
It is so difficult to get a handle on fair pricing. My property is on very good asphalt road about one kilometer from a small town and about 6 kilometers from a large town west of Atenas. There are two perfectly flat large build sites and three waterfalls, two of which are about 10 metres high. There is even a bus stop in front and the view of a valley below. But it is NOT gated. It is snadwiched between two farming properties with no buildings nearby. I love the place and would not sell it for 4 times what I paid for it.
The land in my area has recently shown very high prices. I can’t understand why this would be the case considering the current economic problems everywhere. All I can figure out is that the added value to property which is contained within a gated community with other homes must be substantial….very substantial. I guess security has become quite an issue. Either that, or people are in a hold pattern with properties right now..just as was the case in South Florida a year ago.
Edited on Feb 01, 2009 11:15
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