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Submitted by Palma Torrez
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Costa Rica is a very attractive country for expats. It is an increasingly popular destination for retirees, ‘escapees’, ‘PT’s’ and others seeking a better life. There are many places you can go to in the Caribbean or in Central America, but this place is really an opportunity to live in the paradise.
This dreamland, bordered by the Pacific Ocean in the West and the Atlantic in the East, is full of rain forests, vibrant and colorful life, tamed volcanoes and amazing beaches. On the whole, Costa Rica is a friendly place with low cost of living and agreeable weather.
If you're seeking for a great place for a second home, easily accessible from North America, where you can buy inexpensive, developed real estate or profit from a booming rental market, Costa Rica is for you. The real estate is a bargain compared with the U.S.A. and Canada and you don't have to be a resident to buy it. There are some wonderful deals in Costa Rica. The real estate market on the Pacific coast is ‘Red Hot’ and we are still seeing good growth and appreciation. But if you plan to invest in property in a foreign land, be careful, because it’s not that simple to know what you are likely to get as in your country. Always work with professionals.
There are also many tax advantages if you choose Costa Rica. Investors pay no capital gains taxes on real estate, business taxes are minimal and high interest bank accounts are tax free. Property taxes are also reasonable compared to the United States.
This lovely country with white-sand beaches, unspoiled tropical nature and several national parks offers numerous more benefits out of the exceptional natural beauty. A very low incidence of violent crime (no society is crime free), a low cost socialized health care system, a wealth of every imaginable activity, including exciting sports activities like canopy; two excellent English newspapers, cable and DirectTV with all of the U.S. channels, American-like malls, good infrastructure and relatively cheap public transport are all make this country one of the favorite destinations all over the world.
As for the cost of living, most people can live on less than $1,000 monthly excluding rent. Some live for less and some for more depending on their lifestyles. Be careful with prices, because sometimes when a tico see a gringo coming, the gringo price is always 3 times the ‘regular’ price. But you can avoid these situations if you speak some Spanish and shop wisely.
However, this kind of lifestyle is not for everyone. If you are the type of person who is used to all of the comforts of home—efficient bureaucracy, first-class service, punctuality, etc.—then living in a country like Costa Rica might prove to be a little bit frustrating. But with patience and understanding of the culture and the advantages of this behavior and casual lifestyle, you will enjoy living in Costa Rica.
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