Finding the Right Property to Buy in Costa Rica

Land, Property, Ocean Views, developments, homes, farm land, and the choices continue. The right property can be many things to many people. In an effort to help you understand the market better in the South Pacific we’ve loosely defined the basic types of properties you will tend to come across when searching Costa Rica Real Estate.

Reading through the descriptions below will help you narrow down the type of property that is best for you. Next you’ll want to read through the section titled, “Things to Consider before Buying Real Estate in Costa Rica”. Make a list of items that will be important to you, ex. easy access to the property, water and electricity, close proximity to a hospital…. This list helps narrow down your options and acts as a checklist of important questions to keep in mind when looking at properties in the South Pacific.

Land: Ten years ago people where buying 10 and 20 acre lots with ocean views and building nice homes. Now you have land scouts trying to find large lots of land with ocean views for developers as land is becoming less available along this coast. The ocean view lots available now are much smaller as the developers maximize the earning potential of their land (see plantels below for properties with ocean views).

There are large pieces of land available in the beautiful rich valleys and mountains of the Southern Zone and further South in the Osa Penninsula. Some of these areas have ocean views but you are no where near the beach.

The views of the mountains across the valleys are spectacular and these properties tend to be a much better value. You can be close to a major town and not live in a town atmosphere. The climate is generally less humid and fresh water sources abound in many areas. The land is fertile for growing many types of fruits and vegetables or just creating lush landscapes. These types of properties can be in areas where electricity, water, phones and roads are available and in good condition. They can also be in areas where access to infrastructure is limited. This is ideal for someone that wants their privacy and enjoys the outdoors. Many of these properties include old growth forests where a variety of animals and birds live. Some properties include beautiful secluded waterfalls. I believe these areas are some of the best values in Costa Rica. They will also be the next areas to be sold after the ocean view areas are built out.

Plantels: These are developer properties where the infrastructure is put in place (usually roads, electricity, water, a leveled lot of land and some landscaping for erosion control). These projects will be the last affordable ocean view - close to the beach properties available in the Southern Zone. The only thing missing from these properties is a home*

Most of these properties are smartly laid out to maximize amazing views of the ocean and the lush countryside. They offer seclusion with easy access to nearby towns making it convenient for shopping and all your living needs. You are usually close to the beach, 20- 40 minutes on average. Building a house will save you 20-30% over buying a property with a house already on it. They come in a variety of sizes from ¼ acre lots to several acres and are priced accordingly. The down side to these properties is that the smaller lots will be next to other lots minimizing privacy.

These properties tend to sell quickly with new developments starting all the time. Certain areas are already beginning to be built out limiting choices in the near future. There is talk that November 2006 – May 2007 is supposed to be a strong buying season for real estate throughout Costa Rica.

*see FAQ’s, “Cost of Building a Home

Homes: The real estate market has also caught the attention of foreigners that have built nice homes in this area. We are starting to see more of these homes on the market. Some of these homes can be on large lots with pools and spectacular views. Although they are more expensive they can be the right solution for the buyer that does not want to build a home.

Condominiums: We are just starting to see luxury condominiums near the beaches of the Southern Zone. A project near the beach town of Dominical sold out its first phase before construction was completed. This type of investment is great for someone looking for a hands-off property or a vacation retreat. There are new phases starting along the cost of the Southern Zone. We will try to offer pre-sales information. Check our listings for updates.

 

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