Living in Costa Rica: Vacation or Long-Term

By | July 25, 2014

Costa Rica is a country that is very appealing for travelers looking for adventure, people wanting a peaceful vacation, and some enjoy it so much they retire as an expat and live there permanently. You’ll find many nice destinations in the Caribbean or in Central America, but Costa Rica really has a lot offer for those who want to live in a paradise.

The country offers residents two oceans, the Atlantic Ocean in the East and the Pacific in the west. It is abundant with rain forests, has a dynamic and amazing animal species and agriculture, mountains, and perfect coastal areas. All in all, people end up staying here because it has an great climate, it’s a friendly place, and has more affordable living conditions. The dollar, sterling pound, or euro goes a long way in Costa Rica.

With the lower cost of living, it is an ideal place for a vacation home, a short convenient flight from North America, where you are able to invest in low-priced, real estate or generate income from a thriving rental market.

coastline in Costa RicaA second advantage of buying property in Costa Rica is there are no residency requirements unlike other countries. There are some incredible real estate bargains in Costa Rica. Like many do in the U.S. and Canada, use a licensed professional to secure a purchase versus doing it on your own, especially in a foreign country.

Yet another benefit of living in Costa Rica are the tax advantages. Investors are spared the payment of capital gains taxes when selling real estate It is not made up with other taxes either. If you own a business they are quite low and property taxes are fair in comparison to the United States.

It gets better as the rate of violent crime reports is quite low. Of importance to retirees and families is the low cost health care system, numerous activities to keep life exciting, availability of English written newspapers, cable and satellite TV featuring every channel in the U.S., sound infrastructure and once again, that word comes up low cost, public transportation puts this among the leaders as a preferred destinations worldwide.

How much do you need to live on every month?
Apart from rent, most people can live on $1,000. Having said that, if a local knows you’re a gringo, they will sometimes raise the price considerably to what the locals pay. To overcome that, you should learn some Spanish and buy things carefully.

What is accommodating for some is not always best for everyone. Residing or vacationing in a country such as Costa Rica might turn out to be somewhat difficult if you’re not used to streamlined bureaucracy, top-notch service, activities and planning starting on schedule. If you are the type of person who adapt to the environment, have patience and cultural awareness and a casual lifestyle, you are going to appreciate your stay in Costa Rica.