My name is Michael Simons and I’m a professional Realtor here in Playa Hermosa, Guanacaste, Costa Rica. I’ve been a permanent resident of Costa Rica since 2003 and I am a certified licensed Realtor with the Costa Rican Guanacaste Association of Realtors.
Should I Buy Real Estate in Costa Rica Now?
People ask me all the time, “Michael, should I buy now?” I would never tell you buy if you weren’t ready to buy. Nobody is going to pressure you into buying. I will be here for you no matter how long it takes.
If seven years from now you decide I’m ready to buy, trust me, I will still be here. I’m definitely not going back to the United States of America. But the problem is you’re running out of options.
You’re running out of choices and these properties are not going to come back on the market again. People ask me, “What do you think this or that particular property is going to be worth in two years or five years?”
I say, “The problem is not what it’s going to be worth. It’s going to be that you’re not going to be able to buy it.” See in the old days, 2003, 2004, 2005, everybody was a speculator.
Everybody bought a piece of property and everybody wanted to flip it and everybody wanted to make a lot of money and some people did make some good money during those days.
But the problem was none of those people were committed to living in Costa Rica. They were just speculators. When the market turned, all of those speculators have sold their property and the people that are coming here now are people that want to live in Costa Rica.
They want to spend time in Costa Rica. So they’re not going to buy a property and turn around in the next one to three years and put it on the market. I don’t mean it’s never going to be on the market again.
Of course some day people are going to move on, people get divorced, people die, things happen. But in the next five to ten years, every time I sell a house or a condominium, that property is not going to come back on the market in the next 10 years.
So what has happened is over the last three, four years, we had a tremendous amount of real estate and slowly people have been picking up the best deals and picking up the best deals and pretty soon there’s not a whole lot of stuff left.
The problem is a couple of years down the line, you’re going to come and say, “I want to buy something,” and there’s not going to be anything for sale, nothing, and that’s when you’re going to have to overpay.
So my advice is very simple. If you’re thinking about buying in Costa Rica, get on the plane, come down here, check it out sooner than later before all the good deals are gone.
Come on down baby!
Should I Buy Real Estate in Costa Rica Now? Free video.
Article/Property ID Number 5491
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