If you have the capacity to invest in Costa Rica luxury homes then it is suggested that you do it now before prices of local real estate go up due to extensive demand from baby boomers and other investors. San Jose Costa Rica, the capital city, is one of the best areas for luxurious properties in the country.
There are a variety of Costa Rica real estate projects that you can invest in like the upscale residential homes, condominiums as well as the Costa Rica beach properties. While most investors are looking at the prospect of making Costa Rica luxury homes their second homes, most have decided to settle in the country for good.
Among the many reasons why Americans prefer Costa Rica (aside of course from the clean and healthy environment of the country) is the proximity of Costa Rica to the United States. Costa Rica is also very attractive to retirees because of the low cost of living. Retirees find it sensible to invest their hard-earned money in Costa Rica properties because they can live a good life here and get by comfortably even with their meager pensions. The country is also known for affordable and quality healthcare.
Some investors have foreseen the ease with which they can travel between Costa Rica and the United States, making it easier for them to live their regular lives in the US and then go back to Costa Rica for some relaxation and recreation.
Costa Rica boasts of a large foreign community, with over 20,000 Europeans and Americans already settled all over the country. The friendliness of the Ticos or the Costa Rica residents is also another factor that has encouraged more people to stay permanently.
If you are planning to retire in Costa Rica then you may want to get a residency status. This is possible through the following categories:
Pensionado status-this requires that a retiree has a permanent source of a pension amounting to at least $600 every month.
Rentista status-this requires a regular income of at least $1,000 every month for a period of five years.
Inversionista status-this requires an investment of at least $50,000 (for tourism or export business), $100,000 (for reforestation business or project) and $200,000 (for other types of business). Whichever category you will fall under, you still have to renew your cards once every two years for a meager fee of $100. Any of the said statuses allows you to operate a business but not to get employment. Any income you earn outside of Costa Rica is not taxed by the government.
If the price of a Costa Rica luxury home seems too high for you at the present time, wait until it skyrockets to unreasonable rates due to an increase in demand. The same thing happened to beach properties in Costa Rica Dominical. So if a luxury home in paradise is a priority for you and you can afford it then do your research and fly into Costa Rica to look for that property you are yearning for. The market for Costa Rica vacation homes and Costa Rica rental homes as not going anywhere, so the prices are expected to continue rising, especially for luxury Costa Rica beach houses.