Costa Rica Resort Properties

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  • 1. Costa Rica Resort PropertiesResort property possession in warm environments is becoming increasingly popular amongst theinternational neighborhood and Costa Rica is really a popular destination in Central America whichmuch traffic find appealing. Panama and nicaragua , occupies a property mass of around twenty ,000square kilometers in the southern a part of Central America, including several small islands mainly onthe Pacific aspect. It is much like the province of Nova Scotia--only smaller--with two long coastlines.The country is only about 200 kilometers long and 70 miles wide at the narrowest part. It may becompared to British Columbia because of its mountain runs and lush rain forests and diverse ecology.The three mountain runs create five spectacular and geographically diverse areas. These are thenorthern Central Plains, the Northwest Peninsula, the tropical Lowlands on the off-shore andCaribbean coasts plus the Central valley where seventy percent of the population resides.The locals known as Ticos are very friendly and Costa Rica is becoming a popular destination forworldwide vacationers from Europe, north america and South America. This makes it a veryappealing place to consider investing in a retirement home, a holiday property or simply aninvestment property to generate leasing income. The cost of living here is considerably less than inmost countries and being one of the most steady governments and financial systems in Latin americait has attracted investors and developers from around the world. This has also created an establishedpattern of property worth appreciation and the long term holds promise of the continued upwardpattern in real estate costs.According to the locals this is the perfect time for you to look at a vacation resort property while theCanadian dollar is relatively strong. The climate is right for foreign investment in Costa Rica and intruth the government rewards and also the who invest much more then US$50,thousand with a statusknown as "inversionista" or big investor. This allows the investor to remain in the country for up to sixmonths at a time versus the normal tourist visa of three months. This status also assists and speedsup the immigration procedure should you decide to take the Tico plunge and become a permanentresident and citizen.Any real estate investment in a foreign country comes with a certain amount of risk and it is vital thatyou eliminate as much as possible starting your investment. Title insurance is one way to ensure thatyour new property is in fact yours to enjoy. Probably the most important aspects of safeguarding areal estate investment is making sure the title to the property is in proper purchase. A title warranty ortitle insurance plan protects your possession and use of the property by guarding towards unknownand concealed risks that may result in loss or impact your ownership. In Costa Rica this insurance isavailable from Stewart title Latin America, which is the same company that insures land in americafrom title fraud. The fact that Stewart title operates in Costa Rica indicates the growth in internationalinvestment and that your investment comes with only limited risk. The absence of hurricanes,typhoons, or wild fires, your risk of natural disasters is minimal to both property and home. The mainreason to purchase title insurance is because many North Americans and Europeans want theirproperty insured and their investment protected. Make certain whatever you are considering as your
  • 2. investment qualifies with this type of insurance.All beaches on both coats are public site and no resorts possess private beaches however , manyhave ocean views and are priced appropriately. There can be substantial cost savings by purchasingyour new house just a short distance from the beach. As an example the pre-construction prices onour Prada del Sol vacation homes start as low as US$139,000 and they are fewer than half a milefrom the nearest beach. This could imply a savings as much as US$50,000 for any short exercise tothe beach. It is also very common for developers to provide pre-construction prices which aresubstantially lower than the best retail price once the development is completed. Having a gradualpayment plan as construction progresses you can enjoy a savings along with a payment plan tomaximize your investment potential and minimize your funds outlay.Currently, demand for vacation properties in Costa Rica is generally greater than the pace ofconstruction and it is considered to be a sellers marketplace. This makes pre-construction buys anattractive proposition and usually allows up to twelve months before you would consider possessionof your brand new home. This also indicates that your investment will appreciate in worth fairly quicklyor there will be plenty of opportunity to book your home when you are not really using it. The mostlengthy and perhaps enjoyable job will be traveling around the country trying to decide where youwould like to negotiate and spend your future leisure time.Foreigners enjoy the same privileges as Costa Ricans when purchasing land and properties. Thismeans that you can own the property outright in your own name or in the name of a corporationformed by a local attorney. The only advantage to the organization is beneficial tax laws on anyleasing income or in the situation of joint possession and future purchase of the property. Propertytaxes are very low in Costa Rica at one quarter of one per cent at the.g. Annual fees for a$200,thousand home would be only five hundred dollars annually. Also, most condominium fees areless than what we are used to in Canada. When you are trying to find your home it is best to possessyour financing arranged before you leave Canada where interested rates are likely to be morefavorable. However , it is possible to arrange local mortgages if your credit rating is satisfactory.Generally after making an offer on a property closing is within thirty to sixty days and also the fullpurchase price is required at that time. In the case of some new developments such as Tico TimesPrada del Sol much of the job can be handled in Canada through their Canadian agent.This is a country of unequaled beauty, with friendly people, a high standard of living and a deepconcern for the preservation of the natural environment. It is well known for the importance it placeson peace , education and democracy earning it the reputation as the "switzerland of CentralAmerica". In 1949 the government eliminated the army and allocated all will be military expenses toeducation and health care ensuring the future social wealth for all citizens. While the roads and someof the infrastructure are somewhat primitive, the natural charms of this tropical paradise stayuntouched and unspoiled.The immigrant neighborhood is well established in the capital city of San Jose, the seaside resort atbrother Antonio National recreation area and in several other cities throughout the countryside. Itsdefinitely a place thats attracting attention from many tourists and future growth of local businesses is
  • 3. almost guaranteed.All of these elements combined together explains the booming real estate market and why CostaRica is one of the new choices for investment and possible long term retirement plans. Visit for aholiday and youll understand the magic of this tropical paradise and why the Ticos are such a happypeople.lawyers in Costa Rica