Tips For First Time Costa Rica Real Estate Buyers

Tips For First Time Costa Rica Real Estate Buyers

Costa Rica Realtor Daveed Hollander

The dream of owning property in Costa Rica is alive and well. Excellent values abound for both raw land and built product. Buyers from many countries continue to find what they are looking for and to make good lives for themselves here.

I've seen thousands of people come and go in Costa Rica. Some have smoother experiences finding their ideal places than others do...

Gorgeous waterfalls

What makes the difference between heartache and satisfaction in the property-buying process? Taking your time to gather information is a key to success.

Tempting though it may be, don't rush into any purchases without all the information.

Beautiful beaches

Here are a few tips, distilled from my thirteen years of experience as a real estate broker in Costa Rica:

1. Put a reputable Realtor to work for you. This point cannot be over-emphasized. Naïve buyers who listen to sales pitches from taxi drivers, casual acquaintances and amateurs are in for trouble. Everybody knows of property for sale, yet few are qualified to help the buyer successfully complete a real estate transaction, except for reputable Realtors. Many U.S. real estate companies have offices in Costa Rica. And there are many independent real estate companies with long track records. When you find the area where you want to buy, ask around for recommendations for the top Realtors. Don't work with amateurs or inexperienced operators.
2. Find the property that suits your needs. Location, location, location -- the three most important factors in buying real estate, anywhere. If you have children, look in areas with good schools. If you plan to run a business, make sure there is high-speed Internet service available. If you are more of a pioneer, look at farms and raw land in more remote locations. If you like peace and quiet, a lot on a busy road won't work for you. If you don't speak Spanish, you'll probably need to be near a populated area where people speak your language.
3. Understand the property. Everything looks beautiful in Costa Rica, but some lots are better than others. Verify that it is a clean deal. Check the Registro Nacional to confirm who has legal title to the property. Make sure it doesn't have liens or "gravamenes" listed against it. Look for hidden costs to using your property. Check out the access. Are the roads improved? If not, ask the developer to commit to improving the road, and include this term in the purchase agreement. Don't assume that electricity and water services are included in the deal. Find out before you put your money down. Drilling a well and installing electricity - poles, lines and transformer - will dramatically drive up costs.

Costa Rica Real Estate - Tips For First Time Buyers

4. Find out about the government zoning, regulations and restrictions. Work with your Realtor and get a good lawyer to find out how the property is zoned and that the use you want is allowed. For example, don't get stuck with a lot in the maritime zone unless it comes with a government concession that allows certain types of low-density development. Learn the setback laws for building near a stream, road, or spring that is considered a public water sources. Your buildable land area may be smaller that it first appears, and you need to know this in advance.
5. Become familiar with the lay of the land. Is the property on a floodplain? Near a river? In a drought-prone area? Built on a steep slope with landfill? Are the roads passable in the rainy season? Are there landslides and rock slides nearby? Talk to the neighbors and long-timers in the area to get the real scoop. Figure out in advance where you want to build your house, and confirm there is sufficient usable area for your intentions.
6. Educate yourself about natural forces and hazards.
Study the lot to figure out wind direction, rainfall runoff, erosion patterns, shade trees, potential house sites.

When do you plan on retiring to Costa Rica? I'm retired in Costa Rica now Within next 3 years In 3-5 years In 5-10 years 10-15 years 15 years or more

Show Survey Results

7. Meet the neighbors. Get to know the owners of adjacent properties. Find out their construction plans for the future. You don't want to buy a lot if the adjacent owner plans to build a tall house that will block your view. Meeting the neighbors also helps you understand how they manage the water systems and share road improvement costs.
8. Be patient! Take you time and compare the qualities and differences of several lots prior to purchasing. Spend time on your favorite parcel -- camping out is a good idea. Watch the rise and set of the sun. Test the breezes with a streamer in the morning, noon and night. Use the data to inform you on how to situate your house to take advantage of the natural elements and the views.

Surfing is good in Costa Rica

These are just a few topics to start the education process, and we value our customers, and want to assist in chasing the dream, and make it as smooth as possible, without to many obstacles or headaches that can cost a lot of money if your not careful.

Share This Page About Living in Costa Rica With Your Family and Friends

del.icio.us  Digg  Reddit  Facebook  StumbleUpon  GoogleBookmark  Technorati  Furl

If you have ever dreamed of living in a place that's as close to a tropical paradise as you can find ... Please contact our Recommended Costa Rica Realtors Daveed Hollander, John Wieland and James Drews in Dominical in the Southern Pacific area, by using the simple form below: