The real estate market in Costa Rica is booming. A stable government, an economy in balance, great benefits, amazing landscapes and friendly people and welcoming all help to make the country one of the most popular destinations for retirees and investors. This is a guide to some of the most prized real estate.
Tips to share property in Costa Rica
A good legal adviser
Buyers should use either a company renowned real estate or your own attorney. Costa Rica has a legal system different from most, so buyers should go to a trusted lawyer to investigate charges of any kind on the property, the boundaries of the property, the owner's name, and other things that could affect title or future construction.
It is important that the buyer's attorney do your own search and title search, in addition to provide seller.
Familiar with Costa Rica before you buy
Avoid Paradise Syndrome. Many tourists fall in love quickly in the stunning scenery and the lovely people of Costa Rica. But real life is not a permanent vacation. There are bills, chores, work, and cultural adjustments.
Research location
Focus on your needs. Do you want modern conveniences like the Internet, cable television, public and commercial power grids? Or would you rather live in the rainforest with monkeys only as neighbors?
Costa Rica has a wide variety of climates, from the dry plains of Guanacaste, through the Alpine mountains of Heredia to the rainforests of the Caribbean coast.
Once you have found the weather, make sure you are close to what is important to you, whether it's a great beach for surfing or first-class shops.
Make sure you see everything that surrounds the property, "." How close are the people? Are there schools and banks close? Does the property have water and electricity? All these are questions you should ask before buying, "emphasizes the agent.
Finally, examine well the type of community that would be living. Places like Manuel Antonio, Escazú, for example, have large communities of expatriates, which still could feel at home. You could also choose an area with few foreigners for complete cultural immersion.
Compare and contrast
Once you have seen several properties, make a list of pros and cons of each. Carefully consider market conditions, quality of construction, the surrounding neighborhood and amenities. After a detailed analysis will be easier to make a decision.
Once purchase is made, introduce yourself in the culture
Moving to a new country is not easy, but it can be exciting and worthwhile. Take time to learn conversational Spanish. His experience will be infinitely richer if you can communicate with their neighbors. Also try a dance class or Latin cuisine. Venture to the farmers' market. Live like a Tico. The more effort made to learn about local culture, the faster the process of cultural assimilation.
Be sure beachfront paradise before you buy
It sounds ideal: You find a beautiful beachfront property in a peaceful country, where you expect to spend their days watching the sunsets and ocean waves.
Unlike many countries, foreigners in Costa Rica have the same rights as residents properties, which means that if you buy a property title, you become the sole owner of this property. However, many properties have problems with their titles, and buyers should be careful before getting into a costly investment.
In addition, many investors do not have full knowledge of the problems that can make the purchase of a property facing the sea.
Since the law went into effect in 1977 maritime zone all land within the first 200 meters from the high water mark is considered public property and can not be subject to any private transaction.
These 200 square meters of land "untouchable" are divided into two sections. The first 50 meters from the high water mark can not be possessed or developed in any way and remain as public property. It is possible to build on the next 150 meters, but only rent the land to the municipality long-term (usually 99 years).
Many homeowners are facing serious challenges in building on their land oceanfront, even with government grants. The law provides that both the high tide mark as 50 meters after this must be indicated by markers. Although this responsibility belongs to the National Geographic Institute, many beaches have not yet measured and marked the spot.
Another obstacle to build the beach house of your dreams is the Regulatory Plan, a zoning plan that defines what type of construction is allowed in each area - whether residential, industrial, recreational or commercial. If a district has not completed a plan, investors can afford to complete. However, this is a process that can take six months to two years, and is subject to public debate before being approved.
The only exceptions to Terrestrial Maritime Zone Law are the old port cities such as Limon and Puntarenas, and marinas, which are subject to other legislation. If a marina meets stringent environmental requirements, it can be built within the 50 meters mark. As a marine, now the Los Suenos Marina is the only legally approved in Costa Rica.
However, investors should remember that the land within the 200-meter mark can only be rented with a government grant. "The concessions still belong to the government," an expert in real estate. "If at any time the government wants to recover ground, you can resume. Owners can do nothing."
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