Costa Rican Real Estate Investment: What You Should Know
By ama | February 9, 2009
As with any major investment, when buying real estate in Costa Rica, it is important to do your due diligence.
This means getting all the facts and figures, about all facets of your transaction. This means you need to understand what exactly you are buying, what the purchase includes and what the limitations (if any) are. In many countries, there are restrictions on building heights, setbacks, and other construction details which a buyer needs to be aware of before committing to purchasing and building there.
While the Internet has made real estate investing and land purchasing easier, it is wise to approach any large transactions from a perspective of information gathering and fact-finding. Do not ever buy land or a home without seeing it for yourself.
It can be tempting to try and purchase a beautiful piece of land from the Internet pictures, but you can make a grave mistake if you end up paying for land, or a home, or some property which is not what you actually take ownership of at the completion of the sale.
Some areas in Costa Rica can not be built upon, but since there are few regulations on who can sell land; the unwary buyer may end up purchasing land which can never be built on. This is why doing your due diligence is vitally important when investing in Costa Rica.
Save yourself some grief- work with professionals who know the details of investing here. Select a seller/advisor who is experienced. Look for someone who has confidently helped other customers and who has purchased property in the country himself. Work with someone you like and trust. Don't be shy about asking a lot of questions and seeking advice from experts.
The more you know, the better prepared you will be to make a good decision.
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