Real Estate Investing : Costa Rica

Buying Condos in Costa Rica

Should you buy a condo in Costa Rica? Yes!! By all means. There are several very good reasons why.

First, Costa Rica is a free country that is controlled, like the US, by a constitution. Their constitution guarantees private ownership of property and foreigners can buy property there as easily as Costa Ricans.

Second, It is a stable, democratic and peaceful country. Unlike other Latin American countries where you run the risk of an unstable government and possible expropriation of assets, Costa Rica offers stability not only from an investment standpoint, but from a personal well being standpoint, too.

Third, as the old saying goes, its not good to keep all your eggs in one basket. From an investment point of view, owning property in Costa Rica is a good deal for Americans, Canadians and Europeans. It allows the first world to 'diversify' their property holdings to own property not only in their country of origin, but also in a completely different country that happens to be small enough to be ignored by all the terrible things happening in developed countries. It is, quite simply, a safe haven.

Fourth, Costa Rica has many wonderful climates. If you like spring, the central valley is the place for you. It's springtime all year round. If you like the heat and are sick of the cold, you can live near the beaches. They have a very small fluctuation in temperature range for the entire year. It is true that you could own in condo in Miami and see all the beautiful palm trees, but have you ever spent a winter in Miami? If you have, you know that it can get mighty cold. No, it doesnt snow, but those cold snaps can be a disaster if you have sunbathing or swimming in your pool in mind. BUT!! The beaches in Costa Rica are NEVER cold and there is no such thing as a cold snap. Flip flops, shorts and t-shirts are an all year wardrobe.

Fifth, the cost of living in Costa Rica is much lower than the USA, Canada and Europe. Yes, it's true that the initial purchase price for a condo in Costa Rica may seem high, but in reality, they are not. If you were to buy a condo in Florida, Hawaii, California or Puerto Rico anywhere at all within walking distance of a beautiful beach, you would pay a hefty price indeed. A comparable condo in Costa Rica near the beach will cost you much less. Not only that, but annual taxes are incredibly low. You could pay $5000 a year in Florida (and thats low these days), but for a similar condo in Costa Rica, you would probably pay around $200 to $400 a year.

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