It never fails. When I meet someone who has read any of the articles that I?ve written about Costa Rica, the number one question is ?Why are you always raving about Costa Rica real estate That?s usually followed up by ?What does Costa Rica have that other places don?t have? or ?It just seems like it wouldn?t be a good idea to invest in real estate in a foreign country.? The questions surprise me every time?but not because of what you?d think.
I?m never surprised that the questions are asked but rather at the fact that people still feel the need to ask the question. Though I?m a huge proponent of Costa Rica, I?m not the only person who knows about the great real estate opportunities there. I?m certainly not the only one who has made significant profits from investing in Costa Rica land either. Still, when I come across a person with a question or comment like that above, I just tell them the truth. I say, ?I do it because right now, in this first decade of the 21st century, there is no better, safer place to invest money.? You know what they say next ?Tell me more!? Here?s how I explain it to them?
Costa Rica has a lot of undeveloped land. About one quarter of it is protected to maintain the nation?s unique biodiversity but much of the land is earmarked for development purposes. Demand for land is strong, and steadily growing, but it doesn?t outweigh the supply YET. Therefore, prices for Costa Rica land lots are low. Inevitably, the person I?m speaking with asks, ?How low?
I usually give them an example. For instance, what comes to mind right now is a community in the southern Pacific of Costa Rica that I?ve heard about. There, an investor can purchase a half-acre to 1.25 acres of golf course or waterfront land for under $80,000. Add a four bedroom, three and half bathroom house to the mix and they could spend less than $200,000 for both. Property in any other similar location?Hawaii, Jamaica, the Bahamas, Mexico, etc.?would cost two to three times that much. Next, I tell them that property taxes one quarter of one percent of the value of the property, and then they?re really interested. (For those who aren?t math wizards, that?s about $250 for every $100,000!) After that, I give them my top financial reason for investing in Costa Rica real estate The fact that returns of 100% or more in the first two years of ownership are common!
Once people learn about all of the financial perks of investing in Costa Rica real estate, they understand why I rave about Costa Rica and why investing in a foreign country is a good idea. It makes financial sense and millions of cents. The thing is, that conversation leads to a whole new conversation. It usually begins with, ?Can you help me ________,? but I don?t mind. Makes me feel good to help others get on the path to financial freedom and knowing what it feels like to own a piece of paradise.