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Senor vbcruiser. That is a very good explanation of how to install a solid foundation for the construction of a new home in CR.
There are many building sites in CR where the owners desire to maintain the existing views rather than excavate down to the solid ground. You can construct what is referred to as a “floating slab,” in order to provide a solid foundation and slab to build your homes structure upon. If I were building a home in an area of questionable terrain, I would justify the additional expense to construct a suitable foundation as inexpensive insurance.
In 1984, I built several homes for a developer on riverfront lots in Ohio that had been filled with various types of terrain. I consulted with an experienced engineer, who instructed me how to install floating slabs on top of the filled lots.
In 1993, I poured floating slabs on sandy beach lots in Guanacaste where we compacted one meter of clean fill dirt and poured floating slabs for two story buildings and since then there have been no problems.
Review the following construction guidelines and try to understand how the “floating slab” system provides the stability that is needed in a seismic area like Costa Rica.
GUIDELINES
Excavate 4′ deep trenches where footers are indicated on blueprints.
Provide 2″ x 6″‘s for forms per print.
Set forms for 8″ high and 20″ wide on top of excavated trenches.
Run 2 x #4 steel rods horizontally, equidistant, side by side 4″ from bottom of trench while pouring concrete footers.
Run stickers, using #4 steel rods every 4′ projecting 6″ vertically from top of footer.
Set 48″ poured wall frames block on top of concrete footers with vertical stickers inside of all blocks.
Attach 6′ long #4 steel rods to stickers projecting from wall every 4′, leaving 2′ protruding from top of wall to bend into poured slab.
Pour concrete in all forms or inside all blocks.
Fill inside of walls with fine sand and compress in layers to achieve a solid base and backfill around exterior of footer walls with same or clean topsoil
Compress sand inside of walls several times adding more sand as it is compressed, until top layer of sand is smooth and firm, 4″ from top of walls to accept 4″ of #57 stone following rough-in of plumbing, electric and HVAC tubing.
Dig all column pads and interior footers per blueprint and set forms as above
Run sanitary and water lines 15″ below floor, avoiding pads and interior footers.
Run water line from the tap into the area of the dwelling where the shut off valve will be installed, avoiding driveways and walkways.
Run metal conduit for floor plugs or HVAC pipes per plan.
Set forms around perimeter of footers and foundation walls and then spread #57 stone evenly where slab is to be poured.
Cover stone with minimum 6 mil polyethylene vapor barrier.
Bend #4 steel rods protruding from the top of the footer walls into the floor and connect the steel rod grid system made by attaching additional steel rods to the existing protruding from the footer walls.
Order 3000psi concrete and pump or pour a 4″ solid monolithic slab.We have now poured concrete into and over a steel grid system that connects the perimeter footings through the foundation walls and into the slab. This floating slab is structurally sound from corner to corner and will not fail from seismic activity or settling.
NOTE: In order to complete a good 3000 PSI monolithic pour, you will need to be able to get cement trucks to the building site so the concrete can be poured or pumped into your foundation. There are many building sites where large cement trucks may not be able to access. If access is a problem then you’ll need to have an engineer design a steel piling and metal structure for your home.On this site we previously discussed a similar subject about Manufactured Homes in Costa Rica. https://www.welovecostarica.com/members/forum/openthread.cfm?forum=1&ThreadID=1598
Over the years I have been hired by several foreigners to inspect the construction of pre-fab home systems because the purchasers were not satisfied with the finishing of the walls. The initial cost and time to assemble the packages is attractive. Unless you’ve worked with a lot of concrete finish construction you could not anticipate the challenges to finish the plastering of the interior and exterior walls. Unfortunately, for the owners, the costs to finish these thin wall panel, pre-fab designs has always been more costly and time consuming than they anticipated because the purchaser was envisioning smooth finished walls like they have been accustomed to living in for most of their lives.
Additionally, the electrical conduits are pre-installed in the columns so the location of your electric plugs is limited by where you position the columns. The finished panels and posts have a difference of 1″ to 2″ that needs to be compensated for with plaster in the rooms that you would like to be smooth finished. Perhaps in your garage it would not be important to have normal looking smooth plastered walls but most folks want to live in finished rooms.
Take a look at the photos at; http://www.escosacr.com/galeria-vivienda-e.htm. If you can envision yourself being comfortable in a home like this then go for it. Just like with anything else anywhere you go, you get what you pay for.That is the challenging part for the concrete plastering phase. If you have a home interior design with a lot of decorative interior columns and have been able to incorporate the pre-fab system into the supporting columns for the ceiling and roof structure then the pre-fab system could work well for you. Don’t forget the pre-cast wall panels are only 4″ thick versus block wall of at least 8″ thickness.
PS: When you type in “pre fab construction” into the WLCR search window the following results appear.
https://www.welovecostarica.com/members/905.cfm
The fiancé visa is the quickest method to get the girl to the USA. I have a gringo friend who spent the money and went through a lot of hassle to obtain a fiancé visa for a girl he met in CR. With a fiancé visa, once the girl gets to the USA, the guy has 90 days to marry her or send her back. My friend married his girl and as soon as she received her green card, that enabled her to leave and return to the USA at will, she was gone. There are a few exceptions; however, if you take a Latina out of her element and away from her family, the odds are she will return to her family without you. Good luck!
House Hunters International – Escape to CR
Episode Guest: Barry Ashworth
HGTV AIR TIMES: April 28, 2008 8:30 AM ET/PT, June 23, 2008 10:30 PM ET/PT, June 24, 2008 2:30 AM ET/PT
Escape to Costa Rica
Daniel McQueen and Herbert Landeverde love their 1930s Spanish-style home in the Los Angeles suburb of Glendale, but Daniel, a busy attorney, and Herbert, an entertainment industry professional, are in desperate need of a break from their hectic schedules. They are searching for the perfect tropical getaway, and what better place to buy a vacation home than Landeverde’s native country of Costa Rica? They have narrowed their home search to the San Jose suburb of Santa Ana because of its central location and proximity to both the mountains and the coast. With a budget of $150,000 and the help of experienced real estate agent Barry Ashworth, they set out to search for their ideal vacation home.
With a budget of $150K for a vacation home in Santa Ana, I don’t think this episode will take too long.
I don’t know much about House Hunters International, but I’ve known honest Barry Ashworth for over 15 years and I seriously doubt that he paid a fee to participate.Only two top ten global financial institutions own banks in Costa Rica. HSBC is the largest and strongest worldwide.
CR bank accounts: HSBC has an interest bearing money market type account they call “Cuenta Maestro.” The account can be maintained in colones and other currencies. A worldwide MasterCard is linked to the account and can be utilized to pay all your bills in CR electronically. As far as deposits are concerned, HSBC has operations worldwide.
Accounts in Euros: It has been predicted that in less than three years, the Euro experiment will meet its end. An experiment is exactly what the Euro has been and the currency has long had detractors, who question the viability of political and monetary union in Europe. With no shared language, customs, culture or political system, the Euro zone has never existed except as a monetary concept in the minds of bureaucrats and politicians.
Now, as the divisions increase, insiders are beginning to take a dim view of the prospects for continued monetary union. What will undo the Euro is the mounting tension between the inflation-obsessed German bloc (including Austria, Luxembourg and the Netherlands) and the Latin bloc of France, Italy and Spain. Spain’s worsening real estate slump dramatically illustrates the problem faced by the Latin bloc. For years Spanish home building and buying outstripped that of Germany, Italy and France combined. Now that the boom has turned to bust, the Spanish central bank cannot lower interest rates. Nor can the treasury devalue the currency. Bound to the euro, Spain can only complain to the ECB, while watching its economy circle the drain. European heads of state and the European business press are making their discontent public in stark language. The Euro is currently receiving a lot of attention, however, its long term stability is questionable.If you want your USA based funds accessible daily or weekly while you’re in CR you may want to meet with your bank account manager in the US and sign whatever documents are needed to be able to complete international wire transfers either by fax or on-line. The key is having a US bank that is international wire transfer friendly. Citibank permits on-line international wire transfers, however other US based banks such as SunTrust and Third Federal do not.
When you are purchasing registered property or vehicles in CR a Costa Rican attorney and or notary needs to prepare the transfer documents. Once you have found an attorney you can trust, you can wire transfer into their escrow account in order to close your purchases. Many Costa Rican attorneys speak English and have US based bank accounts or they can explain to you how to transfer the money down here legally and efficiently.
Like David stated, ATM’s are very convenient. When and if you decide to stay longer, you can open a local bank account with a debit card and not have to pay international ATM or currency conversion fees.
Many folks from Texas have described Guanacaste as being similar to their home state. Additionally, you may find the prices on the outskirts of the Liberia are to be affordable and the climate is much warmer and dry than the areas surrounding Arenal.
Here’s a brief description and a few places to stay if you visit the area. Have fun and good luck!
Guanacaste/Liberia – Area: 10,140 KM2 or 6,300 square miles
Population: 224,631 – Capital: Liberia, population 32,951. 175 miles from San José
Climate: Warm, average temperature 83 F – Altitude: 25 meters or 82 feet above sea levelGuanacaste is one of the largest and least populated of the seven provinces of Costa Rica. The province is known primarily for its cattle production, and it is often compared to the State of Texas for this reason. This comparison is not altogether erroneous as Guanacaste shares with Texas the long stretches of plains, which are ideal for cattle ranches.
The government has designated region the as a preferential tourism development area. In order to facilitate access, the Liberia airport was upgraded and extended to become the second international airport in the country. Foreign pensioners and investors have chosen the area for retirement, in Flamingo Beach there are mainly USA citizens, in Tamarindo and Playa Grande mostly Europeans and in Potrero predominantly Canadians. Guanacaste, like the rest of Costa Rica, has interesting national parks, which boast of lush flora and fauna, bird and wildlife.
Santa Cruz – This city has been declared Costa Rica’s National Folklore City. Santa Cruz is famous for its colorful fiestas, which feature delicious native foods and dances, among them the Punto Guanacasteco. Santa Cruz is a short 30-minute drive south from Liberia.
Guaitil – This small town hosts one of Costa Rica’s best centers for native ceramic handicrafts. Guaitil is situated amid Costa Rican cattle country between the cities of Santa Cruz and Nicoya. The Guaitil Art Cooperative continues the long tradition of fine Chorotega Indian ceramic crafts. Descendants of this Indian tribe own and operate the center while generating their modem creations employing the techniques of their ancestors.
Accommodations:
Giardini di Papagayo
http://www.grupopapagayo.com/giardini/ing/aboutus.htmBest Western Hotels
http://book.bestwestern.com/bestwestern/selectHotel.doNakuti Resort
http://www.nakutiresort.comI have done the Bocas Del Toro trip from Puerto Viejo several times. I’ve driven down to Sixaola and left my vehicle with a trustworthy man named Felix. It’s a small town, so if you ask for him in the local “Pulperia” you should be able to find him quickly. Once you’ve arrived at a price for him to take care of your vehicle, based on the duration of your trip, he will walk you to the customs office at the border where you get your passport stamped out of CR. Then you walk across an old bridge to the Panama customs office where you get stamped in. Then you take a taxi to Changuinola,
http://www.travelpod.com/travel-blog-city/Panama/Changuinola/tpod.html
where you pay to take a water taxi to Bocas. It’s a fun trip as long as the weather isn’t real windy and rainy. The water taxis are not the most stable vessels when crossing the shallow bay to Bocas. I’ve been there in rough weather and it was a wild ride. Having living here for over 15 years, I’ve yet to hear of anyone that has been capsized or injured.
There’s another alternative, and that is to ask for a taxi driver in Puerto Viejo named “Bull,” who can help you get to Sixaola, while leaving your vehicle in Puerto Viejo. Pura Vida!Timing is everything. This is very important for successful real estate investing.
The right investment property here will result in healthy appreciation, but you must be very selective.
Research investment opportunities before you buy. Developers everywhere advertise incredible investment opportunities. Costa Rica is not that much different from other attractive hot real estate markets. However, when you factor in the cultural misunderstandings and lack of consumer protection regulations, folks can be taken advantage of.
I have lived and worked in the land development and construction business here since 1992, and I understand land and finished construction values very well. With all the new players entering the market, come new tricks that misrepresent properties and deceive would be investors.
Those of us who have lived and worked here for many years do not enjoy reading about consumers who write about the deceiving developers that sold them land in would-be projects that never happen. We see what is happening to the new kids on the block but we cannot help them if they leave their brains in baggage claim and do not seek advice from experienced sources.
Knowledge acquired from real estate investing in other countries does not necessarily work down here in the jungle.
I have been an investor, builder and developer here for 15 years. To this day, I approach every deal as if it were my last hundred bucks. Property values and opportunities are available here but finding a successful investment property is not as easy as many of the fancy websites lead novices to believe.
Fortunately, WeLoveCostaRica.com is able to help many potential residents and investors sort the market out before they get into a deal that ruins their dreams of living in paradise.
Here in CR you can pretty much dial in your climate preference and be within a reasonable drive from other regions that may interest you as well. I’ve attempted to describe the various regions for you, so you can decide where to start your exploration. Have fun!
Central Valley – San Jose – Escazu – Santa Ana – Belen – Alajuela – Heredia – Moravia – Guadalupe – San Pedro – Curridabat – Tres Rios – Cartago – Desamparados – Unlike the Pacific and Caribbean coasts, the Central Valley of Costa Rica lies at an elevation of 3,000 to 5,000 feet… and has the cool temperatures to prove it. In the Central Valley, you can find many small towns well-known for their beauty and charm. Expats with second homes in the Valley enjoy going to art galleries, handicraft shops, boutiques, bars, restaurants, flower markets, and friendly village churches.
San Jose – Area: 4,965.30 sq. km. Population: 1,345,750 (2000). Climate: Moderate.Central Pacific Coast – Puntarenas – Caldera – Jaco – Esterillos – Quepos – Manuel Antonio – Dominical – Uvita – Ojochal – Coronado – Palma Sur – Spectacular ocean views, gorgeous beaches, world-class surfing, sport fishing, bird watching, scuba diving, snorkeling, kayaking, and horseback riding make the Pacific Coast a prime attraction for adventuresome tourists. Today it’s also becoming a Mecca for property shoppers. And remarkably, there are still places along the Pacific Coast that aren’t overcrowded. In fact, you can still find small fishing villages and stretches of beach that may remind you of a completely wild tropical island. That’s because there are several national parks and wildlife preserves nearby that are home to dozens of exotic animals – including leatherback turtles that haul themselves ashore to lay eggs.
Puntarenas – Area: 11,266 sq. km. Population: 357,483 (2000). Climate: Hot and humid. Average Temperature: 28 CGuanacaste – Northern Nicoya Peninsula – La Cruz – Liberia – Guardia – Sardinal – Coco – Santa Cruz – Tamarindo – Flamingo – Nicoya – Samara – Area: 10,140 KM2 or 6,300 square miles – Population: 224,631 – Capital: Liberia, population 32,951. 175 miles from San José – Climate: Warm, average temperature 83 F – Altitude: 25 meters or 82 feet above sea level
Guanacaste is one of the largest and least populated of the seven provinces of Costa Rica. The province is known primarily for its cattle production, and it is often compared to the State of Texas for this reason. This comparison is not altogether erroneous as Guanacaste shares with Texas the long stretches of plains, which are ideal for cattle ranches.
The government has designated this region as a preferential tourism development area. In order to facilitate access, the Liberia airport has been upgraded to become the second international airport in the country. Foreign pensioners and investors have chosen the area for retirement. In Flamingo Beach there are mainly USA citizens, in Tamarindo and Playa Grande many Europeans and in Potrero mostly Canadians. Guanacaste, like the rest of Costa Rica, has interesting national parks, which boast of lush flora and fauna, bird and wildlife.
Southern Nicoya Peninsula – Paquera – Tambor – Montezuma – Santa Teresa – Mal Pais – Long a secret in Costa Rica, the Southern Nicoya Peninsula is home to a small but thriving community of artists, actors, singers, writers, celebrities, models, musicians, and other creative visionaries that have made this undiscovered paradise their new home away from home. This area is also home to Costa Rica’s oldest protected piece of land, the Reserva Natural Absoluta Cabo Blanco and the Refugio Nacional de Vida Silvestre Curu, which includes a great variety of wildlife. In this area deer, monkeys, and wildcats roaming through the forest are a common occurrence.
Osa Peninsula – Golfito – Pavones – This is an area of incredible biological diversity and quite different from the Costa Rican mainland. In fact, this historic peninsula and it’s port of Golfito are unlike most places you’ll ever see in your life. There are an extraordinary number of animal and plant species found nowhere else on Earth. Quite simply, it’s one of the most pristine and awe-inspiring natural wonders you will ever see. Imagine a “floating island” with a thousand shades of blue and green saturating its rolling hills. If you’re craving adventure and getting in touch with nature on the grandest scale, there are still places along the Southern Pacific Coast that aren’t overcrowded. In fact, you can still find small fishing villages and stretches of beach that may remind you of a completely wild tropical island. That’s because there are several government protected, national parks and wildlife preserves nearby that are home to dozens of exotic animals, including leatherback turtles that haul themselves ashore to lay eggs.
Caribbean Coast – Limon – Tortuguero – Cahuita – Puerto Viejo – For many decades, tourists have been attracted to the Caribbean Coast, where the commercial port of Limon is located. Here you can enjoy superb surfing, sport fishing, and opportunities to get a close-up look at nature in an area where tropical rainforest’s extend to the white-sand beaches. The Caribbean Coast is also home to several wildlife refuges and parks, including the Tortuguero National Park, where turtles go to nest.
Limon – Area: 9,189 SQ. KM. Population: 339,295 (2000). Climate: Hot and humid
Average Temperature: 29 CAccording to AM Costa Rica, 2008 will be another wet year with rainfall from 15 to 30 percent above normal in some sections of the country. In addition, the nation will be at the mercy of the backlash from seven hurricanes and six tropical storms.
That’s the official prediction of the Instituto Meteorológico Nacional, which also says that the rainy season will arrive about two weeks early because of the La Niña weather phenomenon in the Pacific.
According to Wagner Stolz, forecasting chief of the weather institute, the usually drier north Pacific coast in Guanacaste will see 30 percent more rain than normal this year, an estimated 590 mm., about 23 inches more.
The rainy central Pacific coast will live up to its reputation with rainfall 25 percent more than normal, said Stolz. The estimated extra downfall will be 900 mm. or about 35 inches greater than normal.
Rainfall for the southern Pacific is predicted to be about 15 percent above normal at an estimated 550 mm. or 21 inches above normal.
The average rainfall is based on accumulations of the last 30 to 40 years, said the weather institute.
In the Central Valley, including San José, Alajuela, Heredia and Cartago, the prediction is for about 20 percent more rain or some 550 mm. (21 inches) of extra rain. Stolz noted that 2007 was a wet year, too, with rainfall accumulations higher than normal.
The Caribbean coast and the northern zone are expected to have about a normal or slightly above normal amount of rainfall. This is the area that is suffering now from an unexpected dry spell. In January, the areas were 30 percent below normal and in February they were 40 percent below normal, said the weather institute. Both areas usually get more rain during the periods from December to April when the rest of the country experiences the so-called dry season.
Many foreigners who are considering moving to CR for an extended period of time in excess of the 90 day tourist permit wonder if they can get a job and work here legally. You can be deported from Costa Rica if you are illegally living or working here and once deported you may not be allowed to return to for 10 years.
Unless you have a job established with a large company it will be difficult to obtain a work permit on your own. I know several Americans working for large international corporations who never had to file one document in order to receive a work permit. These large multinational corporations such as Intel and Proctor and Gamble have full time departments in human resources that obtain the legal work permits for the foreign employees they wish to employ in CR.
According to the immigration law, a foreigner here as a tourist must leave the country for at least 72 hours after he or she has been in CR for 90 days. As far as having to travel outside of CR every 90 days for a 72 hours to renew your tourist status, it’s not that big of a deal and can be fun. Many people travel to David or Bocas del Toro, Panama or Granada, Nicaragua on inexpensive bus tours for a weekend. It gives you a chance to see the neighboring countries and absorb some of their culture. When you return your passport is stamped and you can legally remain in CR for another 90 days. Many foreigners who stay here under this status are referred to as “perpetual tourists”
As far as working in CR is concerned. One might ask how are all these foreigners that you see offering products and services getting around all these immigration regulations. Many are not and run the risk of being deported if and when the CR government would crack down. As far as I know from being here since 1992 the government only cracks down on targeted areas of business like those that cater to illegal activates such as prostitution or bars that cater to drug users or minors. Occasionally the immigration police operate a sting in popular beach towns to catch foreigners staying here beyond the legal 90 day term. These illegal foreigners are usually working in some sort of business to sustain their lifestyle in CR and technically they can be deported without the possibility of returning to CR for 10 years. I have not heard of anyone being deported except those that have been involved in illegal activities.
Many foreigners that you may come into contact with here who are offering products or services probably formed a CR corporation and as an officer of the company are conducting business on behalf of the company (sociedad anonima). Technically a CR company (SA) translates to anonymous society. You can place Costa Rican nationals as the officers of your SA then they become your partners, unless your lawyer writes the by-laws of the SA to give only you the power of attorney to conduct business on behalf of the company.
Here are a few legal details concerning foreigners working in CR and the CR Employment and Occupational Law.
First, the law prohibits employment while someone is a tourist or in one of several types of residencies favored by foreigners. But here too, there are the laws that closely control professionals and certain job categories. For example, a tour guide must be a Costa Rican national, according to a 2003 law. And anyone who wants to be a trucker has to have a registration from one of the Central American nations. No motor vehicle, trailer, or tractor-trailer with foreign license plates outside of Central America may transport goods within the territory of Costa Rica.
The summary of Costa Rican employment and occupational laws is part of an annex negotiation between the government and the United States as part of the free trade treaty. The annex summarizes existing Costa Rican laws, and the United States agrees to respect the measures. For example, according to the annex, foreign nationals who wish to act as captain of a vessel with Costa Rican registry must post a bond equivalent to at least half of the value of the vessel under his/her command. And only Costa Rican nationals or enterprises may supply domestic air transport services, whether regular or non-regular. And only Costa Rican nationals may act as customs brokers, according to the law. The law also said that directors and administrators of enterprises supplying radio and television services must be Costa Rican by birth or must have been naturalized Costa Ricans for at least ten years. A lot of foreigners who are considering Costa Rica are members of recognized professions. But simply being a professional does not mean a person can work in Costa Rica. Each profession is governed by legislatively sanctioned professional societies or colleges. To join the professional associations of public accountants, pharmacists, geologists, agricultural engineers, physicians and surgeons, veterinarians, dental surgeons, journalists, medical and surgical technicians, computer and information technology, nurses and official translators and interpreters, foreigners must be residents in Costa Rica at the time of applying for membership, as well as have a certain minimum number of years of residence, said the summary. There are special rules for medical personnel. All physicians and surgeons, dental surgeons, microbiologists, pharmacists, nurses, and nutritionists must perform the equivalent of a one-year continuous, for-pay mandatory social services requirement, the annex text notes. In other words, work for the government. Foreign professionals in political sciences and international relations specialists may only be hired by public or private entities when they are active members of the professional association and there are not enough Costa Rican professionals said the annex. Being a university teacher might be difficult, too. No less than 85 percent of the faculty, administrative faculty, and administrative staff of a private institute of higher education must be Costa Rican nationals, according to the laws here. And mass media and advertising services may only be provided by enterprises incorporated in Costa Rica under Costa Rican law, the summary notes. Foreigners might also find difficulty in going fishing. Catching shrimp or fish commercially is only allowed in Costa Rica with vessels built in the country with wood obtained in Costa Rica and made by Costa Rican nationals, according to the law.
Laws are enforced irregularly and usually only when there is some economic pressure or a series of crimes has received media attention. And some professions can give temporary licenses for those who seek to work here. Still the legal hurdles are substantial and different for each profession.
In conclusion if you are serious about moving or doing business in Costa Rica you should first and foremost plan on learning the local language and the Latin culture. Additionally, you can easily and inexpensively hire a lawyer to establish yourself here legally and then you can enjoy all this wonderful country has to offer. The positive business environment, low operational costs and an abundance of natural resources are the primary reasons why investment opportunities in Costa Rica continue to grow. From my fourteen years of residency here and over twenty-five years of business experience, I can tell you that no matter what problem pops up down here, there is usually an inexpensive solution that enables one to continue enjoying the Pura Vida! The climate is ideal, the Costa Ricans are friendly, peaceful people and the business community welcomes foreign investment.
You know what they say in Real Estate; Location is everything. Here in the Central Valley finding a trustworthy house sitter who will exchange rent for maintenance and or supervision is common. I have friends with houses in popular beach communities that have this arrangement with caretakers who come and go but the owners have no trouble finding replacements. Perhaps you could advertise in Alaska or Western Canada where folks enjoy living in rural areas.
In my opinion, the well-to-do Costa Ricans have adopted an industrialized nation style consumerism. The average Tico, with less spendable income and credit, does not understand what they’re missing, because they have yet to covet international consumerism on a large scale. However, with the international banks now offering credit at more affordable rates, the average Tico has more buying power than ever before.
Unfortunately, credit can be misused by those who do not fully understand the ramifications. I don’t believe that the average Tico understands that the financial institutions that purvey the loans, intend to repossess the items purchased, if the loans are not repaid according to the restrictions included in the loan agreements.
The Ticos traditional “Pura Vida” way of life, according to a study of global happiness and ecological impact, currently makes Costa Rica one of the happiest places in the world.
I anticipate that the Costa Rican’s acceptance of credit and consumerism will disrupt their Pura Vida way of life.
I wonder how others, who have lived here for a while, view the commercial changes that have taken place and the Tico’s absorption of the international commerce being thrust upon their country.
