You have a dream of owning your own home in Costa Rica. Now you are considering the ways to make that dream into a reality. But do you know the main aspects you should be considering before you buy? Here are ten valuable tips to help get you better prepared for that next step.
- Time and Distance
It is important to consider the costs, in time and fuel, of traveling from your home to wherever you need to be most often. Whether that means leaving home for basic needs such as groceries, banking and hardware stores, or getting to the gym and staying connected with friends. A particular home may seem cheaper at first, but not so much when you add in these additional costs.
- Family Status
Are you single and looking for a cozy little home close to the beach? But are you planning to get married in the next few years? And then planning to have a family shortly after that? Best to consider all these factors now before you make a long-term commitment to something that will not meet your needs in a few years from now.
- Economic Stability
Are you a young professional just new at your job? Are you working from home at an online business? Are you semi-retired with some residual income still coming in? Are you retired and now on a fixed income each month? Each of these scenarios will determine how much you have available for the initial purchase, and then how much you will need to live month-by-month.
The design of the home you are considering must meet most of your important needs for quality of life. Have you determined what those important needs actually are? Does this prospective home meet your standards of excellence? Is the design environmentally sustainable? Is there room for improvement on the design, and are these feasible renovations? As well, the design of your new home should be a place where you feel proud to invite family and friends to come for a visit.
- The Architect and Their Team
Get recommendations on experienced architects from those who have already built here. There are many architectural firms eager to help you build your dream home. But you want your experience to be as smooth as possible. Ask the developer who they recommend. Ask for professional references from the firm that you are considering. Doing your homework first will make for a better result in the end.
- Construction Materials
Costa Rica is located on the notorious Ring of Fire. Which means that we receive up to 400 earthquakes a month! Now granted, most don’t even shake the house. Be sure that the construction material has been tested for these conditions, and can handle that kind of seismic activity so you don’t have problems later.
- How Much Can You Afford
Be realistic. No matter how much you have fallen in love with that amazing dream home, it is important to know that you can afford it. Not only right now, but into the future as well. Will your economic status be changing soon? Take a long-term look at your finances to determine what you can COMFORTABLY afford.
- Added Value
A home brings added value. Much more than those material items such as new clothes, a new pair of shoes, or even a new car. Consider what the added value will be in the future to determine if this is the right investment for your future.
- Security of the Area
Learn about the neighborhoods you are considering. Talk to the neighbors. What has their experience been in that neighborhood? If security is a real concern for you personally, then perhaps consider a condominium or gated community as they usually include security cameras, security guards and patrols in the area.
- Access to Leisure Activities
Ease of access and close proximity to those things you really enjoy are very important when considering the location of your new home. Do you really enjoy tennis, golf, a fitness center, surfing every day? What leisure activities do you really enjoy, and are you close enough to enjoy them?
Contact Us for more tips when considering a home purchase.