Real Estate in Costa Rica

"I was basically told in what area to live. Most expats live in Escazu, Santa Ana or Rohrmoser. Then I went with several agents to look at possible apartments. After that you start haggling!!! (Hagglig is essential. I have seen houses come down from 4500 USD a month to 2500.)," said one person in San Jose.

"We live in Samara on the Nicoya Peninsula. It’s a really wonderful little beach town. Lots of good restaurants. Mostly CR population but also quite a lot of expats. Super nice beach. Near large town of Nicoya for convenience. Good roads - important! Our landlord has a new construction house available 2 BR/ 1 BA for $1,000/month. We are three miles from town and the beach. We seriously love the area and our landlord is wonderful," remarked one foreigner who made the move to Costa Rica.

"On one visit, we took a side trip to Costa Rica to explore the beaches of Guanacaste. When we drove into Tamarindo, it felt a California beach town with a nice vibe. Over the next couple of years, we took a few trips to Playa Flamingo and Tamarindo to further explore the area and to look at condos for sale. We bought an ocean view condo in Tamarindo a couple of years before we retired, and then moved there full time after retiring in May 2013 (age 61-62). We liked the beach and the availability of a variety of restaurants and stores in Tamarindo, and easy walking access in town," explained one person living in Tamarindo, Costa Rica.

"Yes, finding the right location to live in, can be more important that finding the right home. Many expats want to live at the beach...especially from the snowy north...until they find that the heat just doesn't work for them. So, if they have purchased a home there, they could be stuck with it. So, suggest you rent for an extended time period so that you truly check out the different neighbourhoods, learn where the bus routes are, where the roosters start the earliest and the karaoke bars are located... It is said by many, that it is very easy to buy, but often very hard to sell. Many say that between 50-60% of the expats, return home within 3-4 years. Often broke. Costa Rica is no longer a cheap place to live. However, it can be a great place to live, if you can afford it," said one expat in Costa Rica.

"It's cheaper to live a little ways outside the city so location was influenced by that. There is also less crime outside the city. I found my apartment by asking around and doing some walking. There won't always be a sign up so, if it looks available, ask," remarked one member in San Marcos, Tarrazú.

"Most expats live in condos or houses with small gardens and enormous fences with barbered wire," remarked one foreigner who made the move to San Jose.

"Totally depends on many factors. Are you looking to rent or buy? How many bedrooms? City or country? Altitude, I.e., beach or mountains? Seasonal only, or long term? Hot water or not? Window screens or not? With Ticos or Gringoes? AC or not? Furnished or not? Close to hospitals and good medical or remote? Want views? What kind? Utilities included or not? Finished or under construction? Will you have a vehicle, and will it have 4WD? Are you ok with public transport (it’s excellent). Pets? You can see there are many possible answers to your question! We chose mountains with Nicoya Peninsula views, good infrastructure, home built to American specs with quality materials by reputable builder, hot water, screens, electric gate, and all in a Tico community of great diversity. City is only 3 kms away over the mountain. Pulperia up the street where we all hang out to watch futball! And we drive a 21 yr old SUV. Love Costa Rica," said one person in Costa Rica.

"Much, much lower. I wouldn't pay more than $300 per month in rent for a house in this area," said one expat who made the move to San Marcos, Tarrazú.

"Buying a home in Costa Rica can be a great investment. It can provide you with a steady source of income through renting or reselling, while at the same time providing you with a beautiful tropical paradise to call your own. Renting, on the other hand, gives you the flexibility to move after a few months or years without having to worry about reselling or waiting for the real estate market to improve. Ultimately, it all depends on what your individual needs and preferences are. If you want the security of owning a home, then purchasing may be the best option for you. However, if you prefer the freedom to move around, then renting might be a better solution," explained one expat living in Costa Rica.

"I rent because I do not want to be tied down to a piece of property. Also property is expensive. My rental agreement was easy to understand, only about 4 pages (2 of them inventory of furnishings). I negotiated the terms from 12 months to 6 and the rent amount. It was not difficult at all," said one person in San Jose.

"Don't buy. For some reason that I suspect is emotional expats almost always want to buy property, but it doesn't make a lot of sense. It's much easier and cheaper to rent. There's also the widely reported statistic that some half of the expats leave the country within the first year of arriving--and stories abound of those who bought homes taking a huge loss when they sell. There are also a fair number of problems with property theft--your house is sold out from under you without your awareness. Give yourself a few years in the country to become acquainted with the customs and the neighborhoods before you plunk down money you may regret," said one person in San Jose.

"1. Buying property in Costa Rica requires a local lawyer, who can help you understand the local laws and regulations regarding ownership, transferal of ownership, local taxes, and property rights. 2. It is wise to hire a Costa Rican lawyer and real estate professional to advise you on the purchase of property and to ensure the transfer and registration of property are done correctly. 3. Consider due diligence, which involves researching the property’s title, surveying the land, and verifying the seller’s legal right to transfer property. 4. Make sure you understand the foreign ownership limits in the country, which are designed to protect the rights of local people in land ownership. 5. It is important to familiarize yourself with the local customs and laws regarding property ownership, including Costa Rica’s Title Guarantee Law, which requires all property to be registered with the government to ensure legal proof of ownership. 6. Property taxes in Costa Rica are typically paid annually and are based on the assessed value of the property. 7. Make sure you understand the process of obtaining residency and work permits, if needed, as the process can be complicated. 8. Make sure you understand the potential liabilities and responsibilities should any problems arise after you purchase the property," wrote one expat who made the move to Costa Rica.

"The only restrictions on foreigners purchasing property in Costa Rica are in the Maritime zone within 200 meters of the ocean. This area is not for sale though you can get a concession to build things like tourism projects on a leasehold type basis. Expats typically can't get concessions although some grandfathered properties are still privately owned. Expats otherwise have the same rights to property ownership in Costa Rica as a Costa Rican would have. Property ownership is deeded and fee simple and over 95% of the entire country's properties are registered in a national property registry," said one in Southern Pacific region of Costa Rica.

"Absolutely not. Foreigners can purchase property in Costa Rica. You do not need to be a citizen or resident. If you have the money, look and purchase to your content," explained one expat in Playa Jaco.

"Generally rental properties are fully applianced. Lower scale rental units will have the basics, no dishwasher, possibly only a stove top and not an oven. A washer may be included but generally not a dryer. On the higher end scale, these will be fully appliances with American style refrigerator, stove/oven, dishwasher, microwave and washer/dryer. Be especially observant if the condo complex has a community área with tables, chairs, sink/wáter availability, bathrooms and BBQ grill. This is especially attractive for entertaining friends and family," explained one person living in Playa Jaco (Jaco Beach), Costa Rica.

"In Costa Rica, the typical appliances found in a rental property include a fridge, stove, washing machine, and air conditioning. In some cases, additional items such as a dishwasher, clothes dryer, and microwave may also be provided. Utilities such as electricity and water will also generally be included in the cost of rent," said one expat in Costa Rica.

"There are many realtors in Jaco so finding a real estate agency is easy! I recommend Keller Williams. All realtors have listing pages on their business window so simply walking thru the city and looking at listings in this manner gives a buyer a good education on what your money will purchase. Another very attractive way to find property is thru real estate listings on Facebook. There are multiple sites offering seasonal and full time rentals along with homes for sale. Don't discount "Word of Mouth" either! Frequent any restaurant/bar that the expats gather and let it be known that you are looking! You will get many responses and in a city of 12,000 people the word travels quickly," explained one foreigner living in Playa Jaco, Costa Rica.

"Expats typically search for homes in Costa Rica by looking online for real estate listings, contacting local real estate agents, and networking with other expats who may have knowledge of the local housing market. Additionally, expats may look for housing through online forums and social media groups dedicated to expats living in Costa Rica," said one in Costa Rica.

"There is no multiple listing service in Costa Rica, but it is emerging now. There are a number of US real estate companies that have licensed offices in Costa Rica, for example REMAX and Century21. The best way to find property is to use the internet, take tours, visit communities, talk to other expats, read the online English forums and beware," explained one expat in Southern Pacific region of Costa Rica.