| Costa Rica is a place of stunning scenery, | | | | 5,000M2 of land and fully furnished it for less than |
| sunshine and smiles with spring-like weather all | | | | US$140,000 |
| year round, no income taxes on foreign earned | | | | Building your own home is not for the faint of |
| income, no capital gains taxes, excellent | | | | heart anywhere in the world but if you are |
| world-class medical facilities, affordable medical | | | | comfortable with the idea then you'll be delighted |
| plans and populated by the 'Ticos' who are an | | | | to know that your labor costs in are low. |
| amiable and very attractive people. | | | | Affordable Cost of Living: Only 1% of US |
| Who Is Moving to Costa Rica? There are | | | | households headed by folks aged 62-72 have $1 |
| estimated to be 77 million 'baby boomers' in the | | | | million or more in assets other than their home. |
| USA who began retiring in 2008 and it seems | | | | Now that might sound like a lot of money but |
| there's quite a few thinking about a Costa Rica | | | | $1M today lasts less than 20 years assuming a |
| retirement. So too are Canadians and numerous | | | | rate of return of 7%, inflation of 3% and |
| Europeans who are looking for that perfect | | | | inflation-adjusted annual withdrawals of $75K. |
| climate and a more affordable place to live. | | | | People understand that their money will last a lot |
| Wealthier people from all over Central and Latin | | | | longer with a Costa Rica retirement. |
| America are also visiting Costa Rica because of | | | | Having said that, demographically speaking, |
| political and financial instability in their own | | | | forty-six percent of the baby boomers are still in |
| countries. | | | | their 40s so there are plenty of baby-boomers |
| When you fear for the lives of your own children | | | | that haven't really started to think about their |
| because they may be kidnapped in Mexico, | | | | retirement. The more negative the political and |
| Guatemala or Honduras or, you have just | | | | economic environment becomes in the USA, the |
| witnessed the value of your home slashed in half | | | | more receptive they will be to the idea of living |
| as some of our Venezuelan friends have recently, | | | | and retiring abroad. |
| your future can look downright terrifying. | | | | How Much Is The Food? To give you a real idea |
| Politically Stable Country: Unlike most nations in | | | | about food costs, in one of Jo Stuart's recent |
| Central and Latin America, Costa Rica has been a | | | | newspaper columns, she compared the exact |
| stable and democratic country since it's | | | | cost of a basket of fruits and vegetables |
| independence in 1948. It has no army, and its | | | | purchased here in to the exact items purchased in |
| citizens enjoy one of the highest life expectancy | | | | a California farmer's market. She spent US$8.75 |
| levels in the Western hemisphere and higher living | | | | here and the same items in California cost |
| standards than their war-torn neighbors. | | | | US$29.47 |
| Costa Rica's perfect climate, laid back lifestyle, | | | | The bottom line is if you eat a healthy diet full of |
| financial and political stability makes this 'rich coast' | | | | fresh fruit, fresh vegetables, a little fish, chicken |
| look like paradise on earth to many people. | | | | or beef, you and your family will be healthier and |
| Business Opportunities: It's not just people seeking | | | | you'll enjoy significant savings on food living in |
| retirement that are visiting Costa Rica. We are | | | | Costa Rica. |
| seeing young entrepreneurs coming to Costa Rica | | | | But, if you prefer to eat highly-processed, |
| with dreams of establishing their business here. | | | | imported food, you are going to pay through the |
| This is an admirable goal however; we should | | | | nose for it and you are not going to be healthy. |
| remember that having a working knowledge of | | | | Heating Costs: Who needs heating? Unless you |
| Spanish will only take you half way. We must | | | | are living at fairly high altitudes, you would not |
| remember that we are guests in their country, | | | | even think about heating... In over seven years of |
| doing business here can be challenging because | | | | living here, I have only ever been in one home |
| inefficient bureaucracies, redundancies and | | | | that had an in-floor heating system installed. |
| duplications are part of everyday business. | | | | Water: Thankfully Costa Rica gets plenty of |
| Affordable Costa Rica Real Estate: In comparison | | | | water. In some of the Northern Guanacaste areas |
| with Europe and many metropolitan areas in the | | | | there is certainly a water management problem |
| USA, real estate in Costa Rica is very affordable. | | | | primarily due to over development and a lack of |
| Foreigners can easily buy their own homes and a | | | | infrastructure but we do have plenty of water. |
| few people have decided to build their own | | | | Electricity: A significant amount of Costa Rica's |
| homes. | | | | electrical energy needs are renewable, met by |
| According to the Global Property Guide, the | | | | geothermal (volcanic) and hydro-electric power. |
| cheapest city in Europe is Bucharest where you | | | | Thus, it is fairly well insulated against oil price |
| would pay US$3,085 per square meter for a | | | | fluctuations and is able to maintain relatively cheap |
| 120M2 apartment (1,291.2 square feet). So most | | | | electricity price levels that are almost the lowest |
| Costa Rica real estate is 40-50% less than the | | | | in the Americas. Telephone costs are also very |
| cheapest city in Europe. | | | | low. |
| You can certainly find luxury condos in Costa Rica | | | | Obviously if you live at the beach where it is |
| for $2,200 per square meter but you can also | | | | much hotter then air conditioning is essential for |
| easily buy a modern, brand new, very | | | | many people. This would increase your basic costs |
| comfortable home anywhere near the business, | | | | however, in and around the Central Valley area, |
| cultural and entertainment centre of San Jose, the | | | | you do not need heating and hardly anybody ever |
| capital of Costa Rica for US$1,500 - $1,750 per | | | | uses air conditioning. |
| square meter. I know this because I have bought | | | | Cars in Costa Rica Are Expensive: If you don't |
| a few homes here. | | | | purchase a house (at least immediately), buying a |
| As an example, in 2007 I bought a new, two | | | | vehicle will be your biggest outlay - new cars can |
| story 300M2 (3,228 square feet) luxury home | | | | be over a third more in price compared to prices |
| (350M lot - 3,766 square feet) in a secure gated | | | | in the U.S. |
| condo community in a great location in Santa Ana, | | | | Life Enriching Experience: Learning a new language |
| built by one of the best builders we have come | | | | is a rewarding and enriching experience and helps |
| across priced at US$1,033 per square meter. | | | | keep you and your brain alive. Becoming familiar |
| Property Taxes: When buying a home in Costa | | | | with the culture and customs of a new people |
| Rica, property taxes must be considered but | | | | can be exhilarating and we've come across |
| thankfully there is little to worry about because | | | | dozens of people who came here single and are |
| basic property taxes are only 0.25% and even if | | | | now very happily married. |
| your home is ultra-luxurious and the luxury | | | | I personally believe Costa Rica has the most |
| property tax also applies, it all adds up to very | | | | perfect climate for the human body and I love |
| little.. | | | | the people - the 'Ticos.' They are still people with |
| According to the Miami Dade County website, on | | | | the same hopes and fears as you and I and there |
| a US$275K property in Miami, you would pay | | | | are good ones and bad ones.... |
| about US$6,875 per year in property taxes. With | | | | For me to enjoy the same kind of extremely |
| a luxury apartment in , the property taxes for a | | | | comfortable lifestyle that I love in Costa Rica in |
| home of the same value would be less than | | | | any major US or European city, I would (and I am |
| $1,000 per year so you would save about US | | | | NOT exaggerating) need to earn at least five |
| $490 per month just in property taxes. | | | | times more than I am earning today... |
| And for my 3,228 square feet luxury home in | | | | Living in Costa Rica is not for everyone, the |
| Costa Rica? I paid about $230 per month for both | | | | people may be a little too 'laid back' for you but |
| monthly maintenance (swimming pool, landscaping, | | | | after living in ten countries and traveling to many |
| security etc) as well as property taxes. | | | | others, I honestly believe they are amongst the |
| Building Your Own Home: | | | | nicest people I've come across and certainly |
| In late July 2009 we finished building our 1,797 | | | | amongst the most physically attractive people in |
| square feet retirement home (plus 462.68 square | | | | the world... |
| feet for the garage area, pila and bodega) on | | | | |