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One technique that I am trying is to simply lower any expectations I may have about Costa Rican efficiency. After a lifetime of living in the most efficient, yet hurried and heart attack prone country in the world, (the U.S.), I have no illusions as to what to expect in a place like Costa Rica.
Living with latins in Miami has taught me some valuable lessons. For example, if you want people to show up at 7 PM, make the invitation for 4 PM. I hear that Costa Ricans may even show up the following day.
I have read quite a bit on this topic. But reading about something is not the same as living it. I have yet to discover just how I will feel about things after I have lived in Costa Rica for a while. There are always cons to be digested with the pros. I am counting on the pros far out weighing the cons.what is “concession” property? My property is under the name of a corporation which I named,created and registered with my Costa Rican attorney.I am a non Costa Rican and the non Costa Ricans I know of who have purchased property in Costa Rica have done so under the auspices of a Costa Rican Corporation which they, as non Costa Ricans, own.
I am moving to Costa Rica with a very clear idea of just what kind of life style to expect. I will live quietly on my land in a new but not ostentatious house. I look forward to routines which will include nothing more spectacular than shopping for food, walking with my dogs, surfing the internet, gardening and spending some time getting to know the neighbors. I will be escaping the traffic, crowding, insane and unsustainable consumption, crass displays of wealth, crime and general noise that is present in all U.S. cities and especially in Miami.
I am sure there are a lot of U.S. citizens who buy vacation homes here. Resorts are the same everywhere in the world and they will expect the same here wherever they buy. They will build it and bend it that way as much as possible and the attending crime and other negatives will surely follow. They have done and seem to be doing that to Guanacaste and the Central Pacific coast. I sure hope they don’t drag that vision to the Central valley.Part of the problem is that people are reading about land prices going through the roof in Costa Rica. They want in before properties are priced out of their budgets..the old gold rush syndrome.The two human emotions that run stocks markets the word over, GREED AND FEAR, are also being capitalized by land developers and real estate people in many places.
No matter how much good advice you lay out before people, these two most basic of human emotions may still have sway over many of them. And since there is no good data on real estate pricing in Costa Rica, except that it is probably going up and at what rate nobody knows, it is a safe bet fear and greed will be he root cause of a lot of these blind purchases.
We are all doing a whole lot of remote buying from home these days with computers from major appliances to wearing apparel. But for me, a piece of property where I intend to make a home for myself is something so personal that it has to be seen and walked thoroughly in person.
My Costa Rican account is in dollars. The Colon is still losing ground to the dollar even though lately that trend has slowed, probably due to the slipping dollar value on the world market. (The Euro recently reached a high point compared to the dollar)
The Costa Rican bank officers who make company policy are not likely to make an obvious mistake in exchange rate calculations when determining interest rates. I have to assume that whether you have dollars or Colones, it will make very little difference in interest earnings once you take out exchange rate variances.
I do agree with Scott’s point about diversification. However, aside from my Costa Rican property and some living expense money in my CR bank account, my intention is to leave all my investments in the stock market with U.S. brokerage/bank accounts and perhaps, depending on my future risk tolerance, a few more conservative investment instruments.Edited on Apr 30, 2007 13:12
“who knows what the rules will be in 5 years.”
This is what gives me a little anxiety. I could deposit the required $120k in my Costa Rican bank account and apply for rentista status now. I could always make periodic withdrawals from the CR account on line but I don;t have enough free time each year to spend in country. I still have a job here in Miami.
I know several foreign nationals who live AND work in Costa Rica. They take these Nicaraguan holidays every three months to perpetuate their status in the country. I am a strong believer in doing things by the book, but there are so many things that are “on the books” down there yet people seem to do just what they want to anyway. In five years time, so much can change that it is hardly worth spending too much time thinking about.Great idea and I woudl come to Costa Rica in a heartbeat but I am still not ready financially for the move.
I am married to a Puerto Rican woman and we are very familar with the latin life style in the mountains. I have no doubts whatsoevr after three visits to the Costa Rica that I will adapt beautifully there. As fluent spanish speakers, we will fit in quite well, I think. We have property there and I have made some good contacts in the community. I am just biting at the bit to get things moving but 5 years is a good piece of time. I can always ask my Costa Rican lawyer for some advice on this matter.
This is a great forum and I always look forward to Scotts posts and thoughts.I plan on applying for Pensionista status when I retire there at age 62 (5 more years). Is there anything I can do in the meantime to get ahead of the game? Can one only begin the process AFTER one has moved there?
It is distressing to hear of such happenings no matter where they occur.
Last year I purchased property in the San Ramon area where I will build and retire. I have stayed on several occasions in San Ramon and have explored the surrounding area. I am a fluent spanish speaker and also spent many hours talking with the locals around my property. I currently live in Miami and so am somewhat educated on the dangers of big cities. It is virtually the same no matter what country we are talking about.
My take on Costa Rican crime is that it is highly localized in certain high population centers and to some extent, is exaggerated because of the recent increases in levels. San Jose, of course, and Jaco are mentioned a lot when speaking of crime but even those places don’t seem to have the crime that Miami has. And remember, there is very little in the way of a police force in Costa Rica whereas the police are legion in the States.
Anywhere money, poverty and high population meet, I think you will find pockets of crime. However, I remain unconcerned about crime in the San Ramon area. With minor precautions, ie; keeping a few dogs and people at the home, developing close ties with neighbors and getting to know as many faces as possible, I believe a tranquil, happy life can be had there.
I wish you well where you are now. Perhaps this is behind you.I don’t know what is promised to the female suicide bombers, but the christians also have their mythology and I have seen a vivd example here in Costa Rica. One afternoon on the way back from Arenal to San Ramon, we drove by a pretty young lady walking along the road dressed as a an Israeli might have dressed 2000 years ago. My wife, a catholic Puerto Rican, informed me that the young lady was dressed that way because of a promise she made to god. She was doing some sort of pennance and the custom demands that she dress like the virgin mary or some other character from the bible.
It was just another reminder that our beloved Costa Rica is a very Catholic country. Catholics have never been known for their tolerance of non catholics. So far, I haven’t seen any religious intolerance in Costa Rica because, I think, this is a very homogeneous society. There is no large manifestation of other religions to which intolerance might be shown. As an american, I am used to expressing my opposition to all
organized religion. I haved been holding my tongue here, though. It just seems impolite not to do so.
