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One of the great advantages of being a passive real estate investor is that you can live anywhere you want in the world. Or, at the very least, have multiple homes around the world. A beautiful yet affordable location you might want to consider is Costa Rica.
People are migrating to Costa Rica in record numbers, and if you’re thinking of retiring, buying a second home, or starting a business – living in Costa Rica is much easier than you may think – and the benefits are huge – and affordable for everyone.
Why Live in Costa Rica?
There are many reasons people choose to live in Costa Rica – and they include stunning natural beauty, a slower paced lifestyle, low crime, great infrastructure – and you get a LOT for your money.
Let’s look at some of the reasons why more people are moving to Costa Rica than ever before:
Property
If you’re moving to Costa Rica, the first thing to consider is the cost of property – and the good news is that it’s cheaper in comparison to the US – with beachfront properties costing up to 75% less!
The cost of a three bedroom home starts at just $60,000.
Property taxes are minimal, and there’s no capital gains tax when selling your home – and overseas buyers have the same rights as residents, so you’re legally protected.
Hired help is also inexpensive – you can hire a full-time maid for as little as $150 to $200 a month.
Also consider this: A $30,000 home purchased 15 years ago is now worth $800,000 today. Therefore, you can also make money when living in Costa Rica – from the steadily rising property prices – making it an ideal place to buy a second home.
Cost
When you live in Costa Rica you get more for your money – and this is a major attraction, with just about everything being cheaper than in the US. In addition, there’s a favorable exchange rate – and lack of inflation means your money goes further.
The cost of medical care, food, general utilities and entertainment are substantially lower than in the US. You’ll pay up to 70% less for groceries – or you can dine out for about $12.00 a head. Utility bills are also substantially cheaper.
By living in Costa Rica, you get access to world-class healthcare at up to 70% less than back home – and medical insurance is cheap.
If you move to Costa Rica, you’ll find that you can have a comfortable lifestyle for around $2,000 a month.
Lifestyle
Many Americans who now live in Costa Rica, like the slower paced, friendlier lifestyle – where people have time for each other – but you don’t have to give up your home comforts.
Living in Costa Rica means, you can still get a lot of U.S. culture – including excellent shopping, cable TV, and cheap communications.
The infrastructure is simply excellent – and with regular flights to the US that take just 3 hours to most of the southern US cities – you need never feel homesick.
One major attraction of living in Costa Rica though is the weather. Fed up with freezing winters and scorching summers? Then consider this:
Temperatures of 80 degrees during the day, and 60 to 70 degrees at night, make it a comfortable climate all year round. Living in Costa Rica gives you a wide range of recreational activities, including:
- Golf
- Fishing
- Surfing
- Diving
- White-water rafting
Alternatively, you may just want to stroll through some of the most beautiful scenery on Earth – well, living in Costa Rica gives you all this and more.
Safety
Latin America is now very popular, but if you’re choosing a country in this area, then living in Costa Rica has advantages over its rivals.
Neighboring countries such as Nicaragua, Belize, Honduras and Guatemala are cheaper – but the quality of life and infrastructure are not as good.
Furthermore, safety is a major concern – as petty crime, violent crime, kidnappings, as well as drug wars, are a problem in these other countries.
In conclusion, living in Costa Rica gives you a better and safer lifestyle – with something for everyone.
Living in Costa Rica is an adventure that can enhance your lifestyle. You’ll only be bored if you want to be – and Costa Rica suits people with ALL budgets.
If you’ve ever dreamed of living in paradise, then you should consider living in Costa Rica.
Bill Manassero is the founder/top dog at “The Old Dawg’s REI Network,” a blog, newsletter, and podcast for seniors and retirees, that teaches the art of real estate investing. His personal real estate investing goal, which will be chronicled at olddawgsreinetwork.com, is to own/control 1,000 units/doors in the next 6 years. Prior to that, Bill and his family lived in Haiti for 11 years as missionaries serving orphaned, abandoned and at-risk children.
