Costa Rica - Housing, Finding & Purchasing Retirement Real Estate - Tips before you actually make the purchase

Tips before you actually make the purchase

Once you have found the property or home you like, there are a few precautions you need to take.

1. Make sure you know the real value of the property.
2. Do not assume the seller or broker is trustworthy just because they speak English. This is a common pitfall.
3. Make sure the property you are about to purchase in not part of a national park or subject to restricted use. There are areas near Dominical, for example, that abut a rainforest where it is forbidden to cut any trees.
4. If you purchase raw land, be sure to get a soil sample and hire an engineer, especially if your lot has been cut out of a hillside. We know of one man who built a million-dollar home on a bluff overlooking the beach. About a year later he had to spend $100,000 to build a retaining wall because the rain started to undermine his lot.
5. If you buy in a remote region make sure you can bring electricity to the land. This can be expensive. Also check to see if the water supply is good in the area.
6. Do not rely on a verbal contract if you decide to make an offer. Get everything in writing.
7. Check out your neighbors. There is nothing worse than buying property and finding out later that you have bad neighbors.
8. If buying in the city or near a major street, check the noise level. Make sure there are no dancehalls, bars, rowdy neighbors or noisy buses.
9. If you purchase a home, have an engineer make sure it is structurally sound. Also, check the plumbing, wiring, roof for leaks, water pressure and septic or sewage system.
10. If buying in the city it is extremely important to be familiar with the neighborhood where you decide to buy. Make sure you are not buying in a crime-ridden area. There are a few areas around San José where you would not like to live. A good broker and doing your homework can help you avoid this disaster.

If you want more information contact Prime Costa Rica real estate and retirement properties or call toll free 1 888 581 1786.

"Baby boomers are redefining retirement - and leading the move to a new generation of dream countries"

AARP Magazine

Christopher Howard's The New Golden Door to Retirement and Living in Cost Rica, is important when doing research about moving to Costa Rica.

By Hillary Chura
New York Times
July 30, 2005