I think that this question is probably the second most asked question of a real estate agent in Costa Rica. Second after: “what’s going on in real estate in Costa Rica”? Actually, the two run hand in hand. In my recent post where I stuck my neck out and made some specific predictions regarding the coming season, I basically said that I felt that there was compelling reason for 1) relocators and 2) land bankers, to buy land in Costa Rica in the present financial climate, and specifically, the southern zone.
I’ll profile my two most recent showings below.
Profile #1:
I’ll call them the Boydsons, were the ones that inspired the post: “Do You Have to be Rich to Buy Land in Costa Rica?”. We spent a couple days together here, and I think that they represent a large percentage of buyers that we’ll be seeing here this season.
Mr. Boydson had mentioned that he had a little money, $50,000 to $75,000 to put down on a property, and that he would like to have an existing house. His budget was around $150,000. So seller financing would be required. An ocean view wasn’t required, but privacy and acreage were. Mr. Boydson is an avid gardener.
The Boydsons and I met in the office and spent our first couple hours discussing their objectives and arranged to go out the next day and put our feet on some available Costa Rican soil.
In our conversation, I mentioned that a lot of folks come to Costa Rica looking for a finished house so that they can avoid the hassle of building, but after looking around some they more often than not, end up buying a piece of land and building. This has been due to the fact that we are early in the real estate cycle and the bulk of our inventory is still raw land. The available houses enjoy somewhat of an inflated value due to their scarcity, and the fact that many folks don’t want to build. After looking at land and houses, the calculations generally make it clear that the best financial decision is to build.