Properties in Costa Rica Blog

Monthly Archives: June 2022

Costa Rica Gets The Last Ticket to Qatar 2022

Costa Rica Gets The Last Ticket to Qatar 2022

June 15, 2022

Properties in Costa Rica

This Tuesday June 14th, in the city of Al Rayyan, the clock marked 2 minutes of the Costa Rica vs New Zealand match, when Jewison Bennete overflowed from the left and, using his speed, managed to take advantage to pass a cross to striker Joel Campbell, who with a shot on goal would score the first goal of the game, which was enough for the ‘Ticos’ who won the ticket to their third consecutive World Cup and sixth in their entire history where they will be part of Group E along with Spain, Germany and Japan.

Source: FIFA Website

From that minute on, the New Zealand team began to fight the field. Constantly attacking the Ticos’ porter’s lodge in search of a goal. Goal that would take place in the 39th minute, when Matthew Garbet took a cross for Chris Wood, the All Whites most dangerous player; who finished off the ball against the goal of Keylor Navas and thus tie the game. However, judge Mohammed Salem Yoused Abdula Alali almost immediately annul the goal due to a previous foul on Óscar Duarte after reviewing the VAR.

Keylor Navas was the star of the second half of the game, protecting his goal from several shots by the New Zealanders. Already in the last minutes of the meeting in Doha, the Central Americans began to celebrate and feel like the winners of the last remaining quota for the Qatar 2022 World Cup.

Source: Google Search

Luis Fernando Suarez’s team celebrated the hard-fought classification with hugs and tears. The striker and author of the only goal of the match, Joel Campbell could not contain the tears of emotion and, after a few seconds, he was able to offer his first words: “We have fought and fought for this moment. When we were bad, I said that we would all die or celebrate,” he said.

The Costa Rican people also took off to the streets to celebrate the classification of the “pura vida” country, all wearing the classic red jersey, characteristic of “la sele”.

Source: Google Search

Costa Rica, who reached the quarterfinals in Brazil 2014, will initially face Spain, followed by the Asian team and will finish against the Germans, to play the first World Cup to be held in an Arab country from November 21 to November 18. December 2022.

Written by Fabiola Andrew Cardoso.

How Co-Working Spaces Are Adapting To Covid-19

How Co-Working Spaces Are Adapting To Covid-19

June 9, 2022

Properties in Costa Rica

The Covid-19 pandemic caused unprecedented and seismic shifts in society, most notably in the way we work, interact, and live with each other. Whether you’re a realtor specializing in Texas land for sale , a teacher, or any number of other professional careers, the way you perform the duties of your job is very likely different than it was before the pandemic turned the world upside-down. One way that workers are adapting to this new way to live and work is through co-working spaces, a more flexible shared workspace that can be utilized by different companies and workers.  

What is Coworking?

Co-working is a progressive and flexible form of renting out professional real estate, wherein numerous companies can share the same building or location. This provides many benefits, such as lower rent costs, greater flexibility on leases, and increased social cohesion and collaboration. Co-working has seen a rise in modern times due to the ability of companies to use technology to get more work done in smaller spaces, and an increase in operating costs necessitating a downsizing of the traditional corporate landscape.  

There are several different types of co-working environments, ranging from less structured “open workspace” to “private workspaces”, which can feature more dividers or private rooms. Additionally, there are “Industry-specific” co-working spaces, in which workers or companies from a particular kind of workplace can collaborate. Co-working has been shown to increase employee morale by providing a stronger sense of community, greater availability of tools needed to work and other perks, higher levels of socialization and special events, a higher degree of flexibility, and often a more convenient location.  

Social Distancing and Other Changes

Like most other areas of our lives, co-working spaces have experienced some major changes in the way they function since the pandemic happened, although they were perhaps better suited for them than a traditional office setup. Many employers found co-working to be a nice middle ground or balance between the full office setup and complete remote work, as a space where workers could still meet up and collaborate.

Some of the changes that were made in co-working spaces are increased social distancing and other forms of partitioning, such as plastic barriers or other forms of dividing rooms. In addition, like most stores, many co-working spaces implemented a mask mandate. Some of the other changes that may have occurred are:

  • Covid-19 vaccination or testing requirements to ensure either protection or a negative test result before working.
  • Increased access to sanitation services, such as hand-washing stations or hand sanitizer is available. 
  • Enhanced cleaning and disinfecting routines to ensure high-touch surfaces remain clean.
  • Increased ventilation in the space to make sure that air is recycled and moved efficiently.
  • Contact tracing and other alerts to inform those who may have had contact with an individual who tested positive for Covid-19

Although many workplaces are returning to a sense of normality, co-working spaces will continue to rise in popularity as the world continues to grow and change, as they offer many tangible benefits for employers, such as decreased overhead and greater flexibility to respond to threats such as the pandemic. In this way, co-working spaces will lead to a happier, safer, and more productive world for us all.  

Why You Should Buy A Vacation Home Rental as a Real Estate Investment

Why You Should Buy A Vacation Home Rental as a Real Estate Investment

Properties in Costa Rica

Real estate is a popular and often safe way to start investing, and when it comes to real estate investments, a vacation home can offer a lot of personal and financial benefits. With current housing rates being at an all-time low in an incredibly active market, it may be the perfect time to consider investing in a vacation home to rent out. From creating another source of income and building equity, to simplifying your getaways and planning for retirement, owning a vacation home rental has great potential for rewards. If you’re considering adding a new property to your real estate portfolio, here are the top reasons why you should consider buying a vacation home rental as your next real estate investment.

Great Income Potential

When you buy a vacation home and rent it out, you can easily create a short-term rental revenue stream. The income from your rental home can supplement your normal salary, allowing you greater income potential. Short-term vacation rentals also typically have a higher return on investment than long-term rentals in metropolitan markets. While the cap rate for a long-term rental is usually around 4-5%, short term rentals often have a cap rate of 10% or higher, making a vacation home a potentially lucrative real estate investment.

Home Appreciation

As with most smart real estate investments, your vacation home is likely to appreciate in value over time, especially if you make smart choices when it comes to renovations and refurbishing that can increase the value of your home. That way if you do decide to eventually sell your home, you have the potential to make a hefty profit.

Personal Getaway

Owning a vacation home allows you to have your own personal getaway home. While you may want to rent your home out most of the year, you can carve out time to visit while it’s empty for an easy and affordable vacation that can even save you money. 

Market Opportunity is Endless

While successful long-term rentals usually exist near major cities, vacation homes can be scattered all along with the globe, even in more secluded areas with vast income potential. Whether you’re looking to invest in a beach home, mountain home, or a cabin in the woods, there are endless opportunities and bound-to-be renters who will likely find your vacation home the perfect getaway. 

Build Equity and Reduces Homeowner Costs

Having multiple revenue streams and building an income property portfolio is an important investment goal for the majority of second homeowners. However, owning a home can come with many expenses such as mortgage payments, utilities, insurance fees, property taxes, HOA fees, and maintenance costs. Owning a rental property has great potential at counterbalancing these homeowner costs from the very beginning, even for first-time buyers. Consistent rental income can cover these monthly homeowner expenses and even help pay off the home in a shorter time than if you had chosen to live in it, allowing you to eventually create a nice profit from the rental. Vacation rental owners may also be eligible for specific tax deductions which can also help increase your potential income. 

Plan for Retirement

Whether retirement is a few years away or a few decades, owning a vacation rental can help you plan for a stress-free future. When choosing a vacation home to rent out, it’s important to think about where you may want to retire — a beach, in the mountains, or in your favorite city. As you move closer to retirement, the amount you may owe on your vacation home will be smaller or may even be completely paid off, allowing you to eventually make it your own home.

Reese Witherspoon Feels Like a New Person After Vacationing in Costa Rica

Reese Witherspoon Feels Like a New Person After Vacationing in Costa Rica

June 8, 2022

Properties in Costa Rica

Written by: Fabiola Andrew Cardoso

“3 incredible days in Costa Rica with the most amazing women. I feel like a new person” is the tittle of the reel that the “Legally blonde” star shared on her Instagram account where she documented the best moments she lived last May 2022 in the beautiful country of Costa Rica.

Source: @reesewitherspoon on Instagram

The post, with almost 250.000 likes, pictures Witherspoon enjoying a delicious coffee, walking through the jungle on her way to hiking, crossing suspension bridges, visiting waterfalls and even swimming in the river accompanied by a group of friends.

In the video compilation we can see how she went to get a massage in the “amazing spa” where she took the time to relax, enjoyed a delicious meal and met some incredible women, her own words.

Source: @reesewitherspoon on Instagram

The Oscar winner for “best actress” in 2005, enjoyed 3 wonderful days in the country and ended the video with the phrase:

“I love Costa Rica so much, I had the best time”, followed by an image of her plane leaving the site.

Source: @reesewitherspoon on Instagram

The American artist, with almost 28 million followers on her Instagram account, joins the endless list of celebrities who choose Costa Rica as a destination to leave their hectic lives and have a very relaxing vacation surrounded by nature.

Homeowners Insurance in Costa Rica

Homeowners Insurance in Costa Rica

June 2, 2022

Properties in Costa Rica

Rainforests, mountains, seasides, and even volcanic mountains make up some of the natural real estate of Costa Rica. But as is the case with homes anywhere, it’s a huge investment to make and even receive returns on. So, you would want your home and belongings to have all the financial protection they need without breaking the bank. Of course, there is also the question of how much coverage is enough for a home in Costa Rica. This post looks at Costa Rican homeowners insurance in general, the cost, and the best way of navigating the market to find the best one.

Costa Rica Homeowners’ Insurance

Homeowners insurance in Costa Rica functions consistently as other forms of it around the world. Insurance brokers report that homeowners’ rates are constant across Costa Rica, so the true comparison comes down to the providers themselves. The Instituto Nacional de Seguros (INS) of Costa Rica is more or less the government’s homeowners insurance provider and is extremely reliable and one of the most trusted providers in the country. However, shoppers have choices from all the local and national companies. Again, look at a homeowners insurance provider’s customer service and reputation if all of them price their policies similarly.

What Homeowners Insurance in Costa Rica Entails 

The easiest way to remember and understand the kind of protections that homeowners insurance has is by knowing these four areas of coverage:

  • Natural disaster and fire coverage – With the different types of environments around Costa Rica, some land is subject to hurricanes, floods, earthquakes, and fire damage. In the United States, specialized insurance is required to cover such things as earthquake and flood damage. This is not the case in Costa Rica, where natural disaster insurance covers those damages and more. Natural disaster and fire coverage are made up of what is known as coverage V (real estate damage) and coverage D (natural disaster damage). Coverage V accounts for the fire and hurricane storm damage while coverage D accounts for floods and earthquakes.  
  • Contents coverage – Your home is a safe haven for everything that is yours. So you would want all your valuables to be protected. Instead of individual insurance policies, they are all covered together with contents coverage, or coverage Y as it is known by the INS. High-valued items like jewelry or irreplaceable family heirlooms may require specialized coverage of their own. 
  • Homeowners liability – It isn’t required, but you can carry homeowners liability coverage in order to insure anyone who may be injured while on your property. This can cover accidents, pet attacks, and any medical treatment that follows. This is also known as coverage k or civil liability insurance. 
  • Homeowners association coverage –  For those living in condos, apartments, or any other rented space often have to pay money to the homeowners association to keep the facilities running. This can include workout rooms, pools, and building security. Homeowners association coverage could help insure these costs if something were to happen. Like with a home, though, insuring the contents within your rented space falls on you.

Costa Rica Homeowners’ Insurance Cost

The cost of homeowners insurance, in general, is dependent on the value of the home it is insuring. Typically, full coverage for a home in Costa Rica is 0.25% of its value. For example, a home valued at about $600,000 will cost about $1,557 annually. At the same time, contents inside the home are usually insured for anywhere from $40,000 to $50,000. It also helps to carry the same amount in liability coverage.

Why Homeowners Insurance in Costa Rica is Important

There is no law saying that you must carry homeowners insurance, but it is highly recommended for financial security. If you live on the coast, in the rainforest, or in the mountains –there are things that can damage your property, especially with a climate as vast as Costa Rica, where tropical storms can be regular. It is heavily recommended for anyone living in a flatland more subject to seismic events and landslides. Homeowners insurance quotes are often free, so be sure to take advantage of that when shopping around the various Costa Rican providers.

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