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Some of you may remember me from the headline on another web site, in my , sometimes frantic , call for help in trying to find affordable oceanview property on the pacific coast of C R .I have been studying and planning my best escape from the u s ,this house, my job, for about two years. The company I work for will finally release me and I will officially be retired no later than July 1 2008. I am already moving out of my house and relocating to a small ranch in S Texas. I plan to spend 6 months there and 6 months in Costa Rica, unless I can find an affordable, fun, permanant place in paradise C R .For the time being, I plan to go to C R in July or August and spend about 1 to 2 months there to get the feel of living in paradise,look around chill out ,vacation,have fun,and chill out from 36 boring years of factory work.How should I handle my money and have it accessable weekly and even daily while I am in Costa Rica for that long.And how do I handle affordable transportation during my stay? I will probably try to hook up with Mr Terry Moran in the Lake Arenal area. I have contacted him before and it seems to be more affordable in that area. I also will have a pension check to live on. I appreciate this forum web site and I appreciate all of you out there who are helping us.
Buzz
The simplest, most foolproof way to get at your money in the U.S. while you are here in Costa Rica is to rely on the ATMs which are everywhere. If you have an ATM/debit card with the Plus or Cirrus logo on the back, you’re in! The ATMs here all have English language interfaces and you’ll feel just like you’re using one at home.
Be sure to advise your bank that you’ll be using the card from Costa Rica or their security software may interfere. You might also want to review your daily limit for withdrawals and maybe adjust it upward.
Once here, you can debit colones from your U.S. account. You’ll probably pay some ATM fees and maybe a currency exchange fee, but this is the simplest, surest way to handle matters.
Plan to spend colones while you’re here. You’ll always get the right exchange rate and won’t have to wait while clerks and tellers do the math.
If you try to do a wire transfer, you’ll have to have a Costa Rican account to receive the money and both your U.S. and Costa Rican banks will charge for the privilege. And it may be awkward to initiate such a transfer once you’re here.
Generally, Traveler’s Cheques are not advisable. Since they take a long time to clear, merchants don’t like to take them and banks will take a lot of time verifying that they’re valid before cashing them. If you must bring them, bring American Express, not VISA.
Many merchants, et al will accept your debit card, too, but paying cash frequently gets you a discount. Always ask the price “effectivo” – in cash.
As for transportation, depending upon where you are and where you’re going, you might just want to rely on taxis (which are cheap and everywhere) and the bus system (also good and cheap).
The definition of ‘affordable’ is open to interpretation, what may be affordable for one person will be totally out of reach or another so please forgive me for being brutally honest with you. Unless you yourself are dong the land/house hunting, it is extremely unlikely that you will find a bargain ocean view property in Costa Rica
There area lot of very smart people in this country and many of them (including Realtors) do have a good idea what land is worth and they are not going to give you a ‘bargain’ when they can buy it for themselves, put up a website and sell if for twice as much they paid…
So instead of thinking about buying a place here right away, come down for a few months and live in different places and as you get to know areas better YOU will be able to find better deals simply by talking to local people.
Scott Oliver – Founder
WeLoveCostaRica.comActually, Sprite, I saw some property near Tilaran on the southwest side of Lake Arenal last September that had a wonderful view and was very attractively priced. My impression of that area was that it is undiscovered and also somewhat undeveloped.
There are nicely priced properties in the Lake Arenal area and Terry is a great guy to see. You’ll find the Nuevo Arenal and surrounding areas a bit more expensive but the town and the shopping is worth it depending on your transportation situation. The bank in town (Banco Nacional) has an ATM that works find with US debit cards, I use it all the time. There are many areas around the lake (with/without lake and volcano views) that you might find attractive. Talk to Terry, tell him what you need and what you can spend and I’m sure you’ll find your slice of paradise!
Thank you all so much !! You are a world wealth and a wealth of info. !! I am really encouraged to take the next step !!
Like David stated, ATM’s are very convenient. When and if you decide to stay longer, you can open a local bank account with a debit card and not have to pay international ATM or currency conversion fees.
Many folks from Texas have described Guanacaste as being similar to their home state. Additionally, you may find the prices on the outskirts of the Liberia are to be affordable and the climate is much warmer and dry than the areas surrounding Arenal.
Here’s a brief description and a few places to stay if you visit the area. Have fun and good luck!
Guanacaste/Liberia – Area: 10,140 KM2 or 6,300 square miles
Population: 224,631 – Capital: Liberia, population 32,951. 175 miles from San José
Climate: Warm, average temperature 83 F – Altitude: 25 meters or 82 feet above sea levelGuanacaste is one of the largest and least populated of the seven provinces of Costa Rica. The province is known primarily for its cattle production, and it is often compared to the State of Texas for this reason. This comparison is not altogether erroneous as Guanacaste shares with Texas the long stretches of plains, which are ideal for cattle ranches.
The government has designated region the as a preferential tourism development area. In order to facilitate access, the Liberia airport was upgraded and extended to become the second international airport in the country. Foreign pensioners and investors have chosen the area for retirement, in Flamingo Beach there are mainly USA citizens, in Tamarindo and Playa Grande mostly Europeans and in Potrero predominantly Canadians. Guanacaste, like the rest of Costa Rica, has interesting national parks, which boast of lush flora and fauna, bird and wildlife.
Santa Cruz – This city has been declared Costa Rica’s National Folklore City. Santa Cruz is famous for its colorful fiestas, which feature delicious native foods and dances, among them the Punto Guanacasteco. Santa Cruz is a short 30-minute drive south from Liberia.
Guaitil – This small town hosts one of Costa Rica’s best centers for native ceramic handicrafts. Guaitil is situated amid Costa Rican cattle country between the cities of Santa Cruz and Nicoya. The Guaitil Art Cooperative continues the long tradition of fine Chorotega Indian ceramic crafts. Descendants of this Indian tribe own and operate the center while generating their modem creations employing the techniques of their ancestors.
Accommodations:
Giardini di Papagayo
http://www.grupopapagayo.com/giardini/ing/aboutus.htmBest Western Hotels
http://book.bestwestern.com/bestwestern/selectHotel.doNakuti Resort
http://www.nakutiresort.comSerf, we have had a positive experience setting up a Cash Management Account (CMA) with Merrill Lynch in the US and using the Visa debit card here in CR. There are no exchange or use fees and the exchange rate has been very fair. The daily withdrawal limits are also higher than most debit cards. You do need a minimum amount as an initial deposit, but it may be a good place to park the money you have set aside for property while you look around. We primarily use the debit card at ScotiaBank and you can easily get colones or dollars as you need them. ATM instructions are in English and Spanish. Good luck!
well, when i see signs listing properties at 10 to 50 dollars a square meter, I believe the place HAS been discovered. I drove through Tilaran then back around again…very pretty land but quite remote from any of the bigger towns. I paid $4.35 a square meter for 12000 sq mtrs in the Central Valley. I ma sure that cost has gone up a bit in the last two years but not 2 and 5 times as much.
If you want your USA based funds accessible daily or weekly while you’re in CR you may want to meet with your bank account manager in the US and sign whatever documents are needed to be able to complete international wire transfers either by fax or on-line. The key is having a US bank that is international wire transfer friendly. Citibank permits on-line international wire transfers, however other US based banks such as SunTrust and Third Federal do not.
When you are purchasing registered property or vehicles in CR a Costa Rican attorney and or notary needs to prepare the transfer documents. Once you have found an attorney you can trust, you can wire transfer into their escrow account in order to close your purchases. Many Costa Rican attorneys speak English and have US based bank accounts or they can explain to you how to transfer the money down here legally and efficiently.
Let me give you something to think about…We have been going to CR for several years.
We really wanted to settle in the Windsurfing area of Lake Arenal, but when it actually came down to buying property, think again. Undeveloped is exactly what you get.
Applying for water and electricity may take years. And, think about this.
A friend that lives in Nuevo Arenal had a heart attack recently. The only medical that they have is a clinic. He had to be transported to San Jose (4 hours away). The strangest thing that happened, is that the ambulance stopped to pick-up four other patients on the way. My point is, although, the area is very, very beautiful, you must think about medical, shopping, entertainment, etc. being at least within an hour travel.
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