How to Buy Real Estate in Costa Rica

There's a good reason that Costa Rica, which means "rich coast," is named as it is. With coasts on 2 different seas and an abundance of forest and lush lowland, this Central American country abounds with real estate opportunities. Follow a few steps to make the right property decision in Costa Rica.

Difficulty: Moderate

Instructions

1. Think about why you're buying. Costa Rica is no longer the secret real estate gem it was in the 1990s. Today, savvy investors have moved in and transformed the market. While this is not necessarily a bad thing, you should be aware that the market is complex and fast and is not the Central American property deal it once was.

2. Consider using a well established real estate firm. Major firms like RE/MAX and Century 21 have established offices in Costa Rica. These firms are committed to serving you and protecting their international reputations. Speak with a real estate broker in the country before you buy.

3. Know the law. Costa Rica has one of the more gracious legal frameworks in Central America for foreigners who want to buy property. Foreigners are entitled to nearly all the rights of native Costa Ricans. However, some special tax circumstances pertain, so consult with a lawyer to get all the financial details before you commit.

4. Consult the registry. The Costa Rican government keeps a detailed registry of all properties in the country. The registry provides the financial and legal status of a property. Consult the registry before you buy so you can look for preexisting claims or liens on the real estate that might cause you trouble later on.