Retirees Investing in Costa Rican Real Estate

Since Costa Rican law allows foreigners to purchase real estate in Costa Rica, retirees from the United States, Canada and Europe have been investing in Costa Rica for quite some time now. With economic problems in the U.S. and Europe, Costa Rica’s stable, democratic and prosperous economy make this country an even more desirable destination to live and retire.

Since Costa Rican law allows foreigners to purchase real estate in Costa Rica, retirees from the United States, Canada and Europe have been investing in Costa Rica for quite some time now. With economic problems in the U.S. and Europe, Costa Rica’s stable, democratic and prosperous economy make this country an even more desirable destination to live and retire. National Geographic named this beautiful country, also known as the Jewel of Central America, one of the ten best destinations in the world. Costa Rica’s fabulous year round climate, beautiful tropical rain forest, gorgeous beaches, some of the best fishing in the world, great boating, exciting city life, gourmet food and restaurants, reasonable and affordable luxury real estate are just some of the reasons why baby boomers and active seniors worldwide are pursuing their retirement dreams by investing in Costa Rican real estate.
 
Why Costa Rica is Popular Among Retirees?

• Affordable and desirous real estate and low property taxes. You can search a nice comfortable house for around $80,000 up to $700,000 or more for a luxury property depending on your budget and lifestyle requirements.
• There are no taxes on American social security income. Retirees can live quite comfortable on $2,000 a month.
• Affordable and excellent medical care equal to that of the United States.
• Stable and friendly democratic government.
• Close proximity to the United States and Canada. Just a few hours away with frequent flights on a daily basis.
• English speaking country.
• Low cost living expenses with cheap entertainment, transportation and food costs.
• Excellent fishing, boating and championship golf courses.

Just to give you an example, you can get a great steak dinner in one of many fabulous restaurants in Costa Rica for under $20.00. That same dinner could cost you $40.00 in the U.S. Maid service is approximately $200.00 per month. Maid service in the U.S could run you $1,000-$2,000 or more a month. That is why so many U.S., Canadian and European retirees have chosen Costa Rica to spend their golden years so they can enjoy their retirement and not have to worry about whether they have enough money to pay for their daily living expenses.
 
Elder Care and Medical Insurance
 
There is full service care for elderly that need assisted living or less independent care which ranges at about $1,000 a month including medical care, medicines, lab work, dental, physical therapy, rehabilitation and dietary needs. Or you can hire a nurse for about $200 a month if you want to stay in your own home. There are government medical insurance policies available to foreigners that are low cost and provide excellent medical treatment. Many Costa Rican doctors have been trained in the U.S., Canada and Europe. Medical insurance policies range from the following choices:
 
C.C.S.S. –The National Socialized Medical System, with covers your doctor visits, exams and hospitalization. A doctor is assigned to you. This coverage is for people with pre-existing conditions that do not qualify for INS insurance, are on medicines on a daily or regular basis, may require major medical in case they become seriously ill. Premiums for persons under 55 run about $55 per month and premiums for persons over 55 are around $37.00 per month.  
 
INS - The governmental insurance company. This policy is for persons that do not have pre-existing medical conditions and covers 80% of your medical care, exams and hospitalization. You get to choose your own physician. However, it does not cover dental, eye, eye glasses or preventive check-ups. 


Legal Residency
 
Before you invest in Costa Rican retirement property, you should speak with a Costa Rican attorney. For retirees, you can apply for Resident Investor residency status which may be granted to you if you invest an amount equal to $200,000 in U.S. dollars or a $100,000 in U.S. dollars in a forestry or tourism priority development area. You may also be eligible for the Pensioned and Rentista residency status if you can show you have a fixed income from offshore bank account or investment income. Also, if you can show pension income resources of at least $1,000 in U.S. dollars per month, you may qualify for the Pension Income and Rentista status. Your Costa Rican attorney can explain all the necessary paperwork and requirements to you.
 
Costa Rica offers retirees high living standards at low and affordable prices where they can live in safe and stable democratic country with great medical care equal to that of the United States and affordable and luxury housing. Owning and investing in Costa Rican retirement property makes sense because your pension, investment and/or social security income goes further, and you can live better and cheaper on your budget without having to sacrifice the lifestyle you are accustomed to just because you are no longer working. 

Latin America: Just One Chance for a 'Priceless' First Impression It makes a difference how Latin people perceive you. Make a good first impression and you will be rewarded ten-fold. It does not matter if you are retiring or just taking your school-aged kids to Mexico, Costa Rica, or another Latin American country to live for a year; a reliable, honest, sincere, helping hand from a resident is priceless. This article is going to explain, from my own experiences and those I have interviewed, how to obtain that treasure for yourself and what it will mean to you in times to come.

Posted 2012-04-11

Grow Younger After Relocating to Latin America Many expatriates improve their health by relocating to Costa Rica, Mexico, or other Latin American countries. Not only has the stress of working been overcome, but also the demands of walking have made a significant change in their overall health. I have interviewed a number of people who find a new lifestyle in a Latin walking environment.

Posted 2012-03-14

Relocating to Mexico or Costa Rica As A Retirement Option Retiring in Mexico or Costa Rica should be a transition from your busy past to a carefree future. This article addresses steps to take, while preplanning, to make that change to the best years of your life.

Posted 2011-12-14

Why Foreign Investors Favor Investing in Costa Rica Real Estate? Costa Rica has been ranked as one of the best travel destinations in the world. In fact, National Geographic named it as one of ten best destinations. The reasons are simple. Costa Rica has some of the best fishing in the world, a beautiful tropical rain forest, gorgeous beaches, water sports, boating, marinas and fabulous nightlife including casinos, gambling, great food and so much more.

Posted 2011-10-05