You fell in love with Costa Rica and after looking at all the built homes in the area you decided that you want to buy a lot and build. If you haven’t built a house from scratch before than this guide will be quite useful. Even If you have built a home in the past this will help you avoid pitfalls particular to Costa Rica and keep you on the right track.
Before we go any further, we must assume that you have hired an experienced realtor who will ensure the basics are covered that apply to any lot purchase:
Let us state right up front: we're not saying "don't build a home in Costa Rica". We're just showing you all the options, including the best way to build a custom home from scratch.
Most Buyers and Sellers in the coastal regions of Costa Rica are not native to the area so it seems like common sense that they would seek out advice from a seasoned and professional Agent. One that works in a well-established agency to guide them through the purchase or sale process of a property in a foreign county. I think we would all agree with that statement so far.
99. Costa Rica is 99% green. It is almost totally carbon free, and the most environmentally protective country in the world and most of it still looks like it did when the dinosaurs walked the earth. You have to love and respect somewhere, which places nature above money. This haven will blow you away.
There is no doubt the real estate market has been doing very well in the Papagayo area of Costa Rica and many of our agents have had record breaking years. What is even more impressive is the leadership that our agents have shown by not only being involved in their communities, but getting involved and giving back in a big way.
Well, it is time again for another boring Papagayo Area Real Estate Market Update.
Buying property in Costa Rica is about as easy as it can get. Under Costa Rican law a foreigner has the same rights as a citizen, and can own property outright, fully titled, fee simple, just like in the USA or Canada. The majority of the property in Costa Rica is titled. The only exception to this is some of the beach front property which is called concession and is similar to a lease. I discuss this in another blog. You can own a property using the same vehicles as in North America.
In almost every development, the breakdown of ownership is about the same. One third of all the owners live here fulltime; they are Ex Pats who have made paradise their permanent residence. One third of them are your typical snowbirds; they spend 3 to 6 months a year here, when the weather turns in North America, and then spend the summer months back home. Some of them rent their properties when they go back north, but many of them just lock the door and leave. They don’t need the money and don’t want anyone “sleeping in their bed.” The last third don’t live here at all.
