How to Buy Property in Costa Rica
How to buy a real estate in Costa Rica
The buying process for any property can be daunting, especially if it’s in a foreign country. Throughout this section, we shall walk you through every step you need to take into consideration prior to purchasing a property in Costa Rica.
To summarize: many people can turn to realtors in Costa Rica for guidance. Remember, when you find a Realtor that you like ask for some references and do some research beforehand on their name/company. If in doubt, find another one. Typically, people don’t usually pay the buying price, it is usually always negotiable. Financing can be complicated as a foreigner so you can either go with public banks or private loaners. Closing costs will typically be around 4% of the total price.
By far, the best resource available for anyone interested in investing in property in Costa Rica. We toured both urban and resort locations throughout the country and found them proactive, knowledgeable and an excellent and unbiased resource for selecting and purchasing property that best fits with the needs of the buyer.
Tips on the buying process
WhAt Are the common mistakes?
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Negotiate
The initial offered price is almost always negotiable. A good place to start is to offer what you believe is a fair price for a property/land and start the negotiation process with the seller from there.
Smart Contracting
Utilize separate professionals to keep fees lower. Have a company for landscaping, one for escrow, one for legal etc… If you go for a professional that covers everything this will lead you to pay unnecessarily higher fees. Feel free to contact us now if you have any questions regarding this.
Survey Land
Pictures don’t always give a location complete justice. The best way to decide if you want to move forward with the buying process is to physically go and see it. If it feels right then continue the buying process.
Speak to Experts
As mentioned above, it can be extremely confusing to even commence the buying process so be willing to contact professionals, including us, with any queries you might have.
Hidden Costs
Sellers won’t always be straightforward with all of the costs that are included throughout the buying process so do your own research specific to the property/land that you are interested in or ask your agent/seller directly what are the total costs and fees. Make sure to specify that you want to know the total buying costs and any recurrent costs that could happen monthly or annually.
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We are independent investment advisors, not realtors.
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I would highly recommend Richard and his team!
Richard and his team have been amazing! As foreigners looking to purchase a home in Costa Rica, Richard has been pivotal in guiding and helping us make the right decisions. His guidance, references for things like home inspection services, attorneys etc have been Invaluable. I like to work with the best and I’m thankful that I found Richard who looks out for my best interests. I would highly recommend Richard and his team! Btw his Podcasts are great too!!!
$2 million investment (purchase + renovation) turned into a $3.3 million portfolio — in under a year
I wanted to buy a vacation rental in Costa Rica that could also appreciate over time. Costa Rica Investments helped me find a colonial-style home in Uvita for $1.7M with incredible Whale Tail views.
They managed everything — from the search to the full renovation, which cost another $300K. They even subdivided the property into two ocean-view lots. One now holds a modern villa worth $2.3M, and the other is a $1M undeveloped lot.
In 12 months, my $2M investment turned into a $3.3M asset. I rent the home out and use it when I visit. They handled the entire process while I stayed home — it was seamless.
Outstanding Guidance in Costa Rican Real Estate
Richard Bexon has been tremendously helpful to us. We knew nothing about Costa Rican real estate, but Richard patiently explained the advantages and disadvantages of different locations. He then efficiently guided us through the negotiations and closing for our beautiful new property. All along he has been energetic, knowledgeable and very responsive to our many questions.
Jon Marshall
Investor
