Retire Early in Costa Rica – New rent-to-own real estate program.

Your dream of early retirement may seem like a far-fetched idea. With the prices of healthcare, medicine, fuel, food, and retirement area properties rising at historical rates in the United States and elsewhere, it can be frightening even thinking of retirement.

You may be even more anxious if you are one of the millions of ‘middle-class baby boomers’ just starting to seriously consider your retirement options. If you look at the typical options like Florida or Arizona, where the cost of living has been climbing, you would have to work many more years to afford it.

Early retirement then becomes unthinkable. We have done some thinking about your dilemma and designed a program that allows you to retire early in paradise – Costa Rica.

A new rent-to-own real estate program, combined with knowledge of transitioning to Costa Rica, and the substantially lower cost of living here are the keys to this innovative program.

If you cannot afford to buy a house right away because you are 1-2 years away from receiving your pension or Social Security, or you are waiting for your house to sell in your base country, this lease-purchase program offers you a solution to retire early.

With a lease-purchase you will build equity in a rental home of your choice, and you will lock in today’s real estate prices without making a large financial commitment upfront.

No Slow Down in Costa Rica Real Estate – Prices continue to rise:

At the rate the value of Costa Rican real estate is appreciating the future appreciation may be quite significant. Whether you decide to purchase the home or sell your option, the value of your equity will be realized.

In Scott Oliver’s informative book, ‘How to Buy Real Estate in Costa Rica Without Losing Your Camisa‘, he offers the smart advice to rent before you buy.

A rent-to-own is an excellent opportunity to get to know Costa Rica and your desired area while receiving financial gain from your rental home. You can rent-to-build or rent-to-look at other properties and either way you will build equity.

You no longer need a large chunk of money to retire early. The program requires a deposit of at least 3% of the purchase price that will be applied to the price when you buy the home. However, each property is different and they may require a larger deposit.

This deposit guarantees your exclusive right to purchase the property during the term and secures the current market price of the home. The deposit is non-refundable if you decide to walk away from the property or if you default on your lease.

Sample of an actual Rent-to-Own Property in Alajuela, Costa Rica as seen in these photographs…

• Option Purchase Price – $157,500
• Monthly Rent – $750
• Monthly Equity Credit – $150
• Deposit Required – $8,625 (5%)
• Term – 1 year

When your one-year term is up, assuming the value of your home in Costa Rica has only gone up 10%, the deal will be as follows:

After one year, you should have a home that’s worth at least $173,250 where you only owe $147,075 ($157,500,000 OPP – $8,625 deposit – $1,800 equity credits). That is $26,175 ($173,250 – $147,075) in real home equity.

This innovative program is an excellent opportunity to explore a tropical retirement area and realize the financial benefits of this booming Costa Rican real estate market.

The most difficult aspect of this program is finding and negotiating this type of real estate deal. In most cases, the deal needs to be fitted to the retiree, then proposed to the property owner although some owners have already agreed to sell their homes in this manner.

Although it is a relatively simple transaction for you (the retiree), it is essential to have a qualified team to facilitate your deal. Finding a knowledgeable local agent and a trustworthy lawyer with experience in real estate and transitioning to Costa Rica is vital.

The final key to realizing an early retirement to Costa Rica is the low cost of living. The costs of average monthly bills are; electric $40, phone $25, cable TV $35, garbage removal $5, and the internet bill is $15.

One of those bills in a typical North American suburb may equal those expenses combined. Healthcare and food costs are where the most dramatic savings occur.

In her book, Living Abroad in Costa Rica, Erin Van Rheenen estimates that one can live for about 50% less than in North America. And depending on the type of car and property you desire, you may experience even more savings.

Managing your transition to Costa Rica is nearly as important as finding the right home in order to retire early. Issues ranging from residency, banking, healthcare, bureaucracy, travel, and real estate need to be handled properly and efficiently.

Navigating through these issues requires local knowledge and experience dealing with the labyrinth of red tape in Costa Rica. Your dreams of early retirement to tropical luxury in Costa Rica can be achieved. Now – is the time to lock in today’s real estate prices to achieve the benefits of this rising market.

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Considering The Atenas Area For Your Home In Costa Rica?

The AARP (American Association of Retired Persons) ranks Atenas as one of “The Best Places to Retire Abroad.” For more information about homes and land for sale in the area please contact our Recommended Realtors in Atenas by using the simple form below:

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.