Buying a home is a major decision that requires careful consideration. When investing in a property you are looking for security, settling down, retiring or seeking an extra income source.
Costa Rica is one of the most stable countries in Central America and this makes it attractive for investors looking to buy a home nevertheless, there are several considerations to keep in mind.
Location location location… This is a key aspect when choosing your home and defining a budget. A property located in a rural area won’t be as expensive as one located in Escazu or Santa Ana. Closeness to commercial centers, entertainment, access to the high way, schools, hospitals, and others are also benefits for more desirable properties. A two-bedroom home in Grecia, Alajuela in a gated community including a clubhouse, vast gardens, bbq area, tennis courts, gym, and others can start at US$120,000 with monthly HOA fees of US$55 to US$200 depending on what the maintenance includes whereas a condo with the same characteristics in Escazu can be at least US$100,000 more due to its centralized location, closeness to supermarkets, schools, shopping malls and more.
Gated communities and condominiums are really popular among expats and locals For example, in the Guanacaste Region, especially the greater Tamarindo area ( Pinilla, Conchal, Tamarindo, Langosta, Las Catalinas, etc.) and Jaco you will find beautiful beachfront condos with ocean-views, modern amenities like pools, gymnasium, playgrounds and more. Condo prices run from $130,000 up, and HOA fees vary considerably, they can be from $100 up to $600 per month. Keep in mind that a big part of Costa Rican economy depends on the tourism industry consisting of a 6.3% of the GDP so these types of homes or condos can also be an exciting investment if you are looking for an extra income.
The political stability in this democratic country with no army, an amazing health care system and excellent education with 97% literacy is proof that is one of the best places to live and invest in Central America.