Buying or Renting, Fully Furnished or Not?

    Pros and Cons to consider when deciding on your new home

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    When looking for a house, apartment, loft, or any other options that can be found in Costa Rica, an important decision is whether to purchase your new home fully furnished or with only the basics.    If you are looking for a short-term option, either in the city or the country, a furnished apartment would be ideal because it would save time and money in the process of choosing and buying furniture.

    In Costa Rica, when it comes to rentals, most landlords ask for a security deposit in addition to the monthly payment to ensure coverage against any damage or debt incurred when the tenant vacates the property. By law in Costa Rica, all rental agreements are for 3 years.  So if even a lease is for less than 3 years, the tenant always has the right to remain on premises for the full 3 years.  The only qualifier on this law is if the owner decides to sell the rental property.

    According to real estate experts, there are a number of advantages and disadvantages to consider when looking at fully furnished homes.

    Rental prices may be more expensive for fully furnished properties.  But in the case of rentals, you must take into account that renters are not always careful with the furniture.  So the home owner must take maintenance of the furniture into consideration.  Such agreements are highly sought after by transnational corporations for their employees as they must constantly travel.  Renting an apartment and buying furniture for only six months can be very expensive, so many companies are seeking fully furnished units for their employees.

    Normally transnational corporations agree to make the rental payments.  That way the owner does not need to worry about delays in the monthly payments or non-payments.  Most of these companies will also ask for a diplomatic clause in the rental agreement so they are protected, and not responsible if the tenant must vacate the premises before the end of the rental contract.  For this reason, it is difficult for the tenant to expect to receive the deposit returned upon vacating the premises.  If the tenant must vacate before the end of the rental contract, it is usual policy that the owner would keep the deposit.

    So renting or buying property fully furnished does have its pros and cons, and depends on the needs, and time factor of the person who is looking for their new home.

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