Seattle Times - Costa Rica Real Estate

Thinking About A New Life In Costa Rica's Sunshine? Some Ideas And Resources

You could just sell your house, take your savings, buy a plane ticket and chuck it all for the sun.

But most of us aren't so daring, or so foolhardy. We'd want some assurance that such a major change in our lives wouldn't lead to disaster.

Well, just like losing weight boils down to a couple simple pieces of advice - eat less, exercise more - so does chucking it all for the sun. Call them the Three Rs:

Read everything you can; rent first; and research before you buy.

The advice I heard from those who've made trhe move, and from lawyers, real estate agents and various experts, usually came down to that.

Reading everything you can about Costa Rica isn't a simple task. There is no one easy source.

But if you're serious about making such a move, the best investment you could make is spending $200 to $300 on books and subscriptions to various periodicals.

A $15 book might yield one nugget of useful information, but if that piece of information keeps you spending thousands of dollars on a land scam, then it was a wonderful bargain.

Recommended books and publications about Costa Rica:

-- A must is a subscription to The Tico Times, an English-language weekly published in San Jose. It contains well-written investigative stories as well as a comprehensive reports on tourist attractions. The letters-to-the-editor are worth the subscription price alone, with gringos telling their stories of life in the tropics. There also is an extensive classifieds section, which includes apartment rentals, hotels, properties and businesses for sale, and the personals ads from the "retired American gentleman seeking Tica lady under 40." A trial three-month subscription is $20. An annual subscription costs $57.50. The Tico Times' address in the U.S. is: Dept. 717, P.O. Box 025216, Miami, FL 33102.

-- Also recommended is The Tico Times annual "Exploring Costa Rica" guide. It's free with an annual subscription to the weekly, or costs $5.95 per copy (send checks to above address). It's by far the best tourist guide that lists everything from fishing trips, to tips on how to deal with taxi drivers.

-- The Costa Rican Outlook is a bimonthly newsletter that's aimed at tourists and those planning to retire in that country. It contains first-person accounts of road trips and such helpful hints as "Don't try to bribe police officers." Subscriptions are $19 a year (for a $23 subscription you also get a year's worth of back issues): P.O. Box 5573, Chula Vista, CA 91912-5573.

-- Paradise Properties is a magazine that comes out every three months, containing lots of ads from Costa Rica real estate companies offering for sale everything from resorts to bed-and-breakfasts. Many ads are accompanied by photos of the properties. The magazine also runs excellent articles with tips on how to invest in a bed-and-breakfast, for instance, and about Costa Rican real-estate laws. A six-issue subscriptions costs $30. The mailing address is SJO-1769, P.O. Box 025216, Miami, FL 33102-5216.

-- "Purchasing Real Estate in Costa Rica," by Alvaro Carballo-Pinto, one of Costa Rica's better-known real-estate attorneys. This 57-page booklet offers an excellent explanation of the country's sometimes-convulated real-estate practices. I never found this book in any store, but you can order it for $14 from the Coasta Rican-American Chamber of Commerce at the above address. Those who can access the World Wide Web through their computers can get the entire text of the book free of charge (for personal use only) through the Paradise Properties home page.

-- "The Golden Door to Retirement and Living in Costa Rica," by Christopher Howard. Its author is a gringo retiree who has a compiled a good basic guide, including tips on dealing with the local bureaucracies and an itemization of how much it costs to live in Costa Rica. It costs $17.95 from: Costa Rica Books, P.O. Box 1512, Thousand Oaks, CA 91358.

-- "Developing and Managing Profitable Rental Real Estate in Costa Rica (with emphasis on small to medium-size residential properties)," by Frank J. Thomas Gallardo. This 64-page booklet isn't just for those wanting to be landlord; it also contains valuable information that'll be useful to anyone purchasing property in that country. Thomas has written down his 40 years worth of experience in Costa Rican real estate - from legal requirements necessary to start building, to the peculiarities of being a Costa Rican landlord (tenants can argue in court they can't be evicted for late payments because you had tolerated it in the past). It costs $16.95 from: Editorial Texto Ltda., (Frank Thomas Gallardo), SJO 1065, P.O. Box 025216, Miami, FL 33102-5216.

-- "Guide to Investing & Doing Business in Costa Rica," an annual report published by the Costa Rican-American Chamber of Commerce. Lots of no-nonsense information about such matters as mandatory Christmas bonuses for employees (one month's salary). Cost is $12 from: Aerocasillas, Dept. 1576, P.O. Box 025216, Miami, FL 33102-5216.

-- "The Official Guide to Living and Investing in Costa Rica," edited by Bob Johnston. Contains useful information, from tips on shipping your car from the U.S., to an explanation of the country's national health insurance system. Cost is $17.50 from: Lawrence International, 1770 West State St., No. 129, Boise, ID 83702.

-- Also recommended are these general travel guides, all of which give useful background information and list hotels for your first visit. These guides can be ordered through any major bookstore: "Costa Rica, A Travel Survival Kit," by Rob Rachowiecki, Lonely Planet Publication; "The Costa Rica Traveler," by Ellen Searby, Windham Bay Press; "Costa Rica Handbook," by Christopher Baker, Moon Publications; "Central America On the Loose," from the Berkeley Guides, the Budget Traveler's Handbook.

Research in Costa Rica.

-- Spend $100 to have a local English-speaking real-estate attorney go over some do's and don'ts. Take a tape recorder so you can play back his advice at your leisure. How to select an attorney? Ask around. Ask the gringo who runs that bed-and-breakfast where you're staying. Ask the gringos you've met because you attended a meeting of Republicans Abroad, Democrats Abroad, the VFW, the Backgammon Association, the personal computer user's club or any number of groups listed in the "What's Doing" section of The Tico Times. You'll notice that some of the lawyers keep getting recommended.

-- Stop by the U.S. Embassy and the Costa Rican-American Chamber of Commerce and ask for their list of English-speaking lawyers. These also are good places to pick up brochures and books.

-- Attend the free "Newcomer's" seminars you'll see advertised. The seminars are pitching some kind of land deal or service. Don't buy, just listen and take notes. You'll hear one or two bits of worthy advice.

-- Read the English-language publications and note which individuals are regularly writing about real estate or business. Call them up and offer them $50 or $100 for their time and advice.

-- If you're planning to build a home, make a point of meeting gringos who've built homes here. If you're planning to start a business, make a point of meeting gringos who've started businesses. Take them out to dinner and ask about their experiences and advice.

-- Join the Association of Residents of Costa Rica (P.O. Box 025216-1513, Miami, FL 33102-5216). Membership is $100 first year, $60 a year thereafter. You get free brochures, a newsletter and information on various services you might need. For $800, they will process your residency application through the Costa Rican bureaucracy.

And finally . . .

Whether you choose the U.S. Virgin Islands or Costa Rica, get an apartment or rental home and try it out. Sometimes, after a few months, the love affair might wane.

Ralph and Shelley Pritikin and their 9-year-old son, lived for four months in Costa Rica before deciding to return to Lake Oswego, Ore.

The Pritikins have fond memories of the beauty of rural Costa Rica, and the warmth of the people. They weren't enthralled with the urban sprawl and traffic noise around the capital. In the countryside, they missed amenities such as electricity and telephones.

"We felt that Costa Rica was a wonderful place to visit (even months at a time) and a safe place for children," Shelley Pritikin said. But they felt more comfortable back in Lake Oswego.

Renting allowed them to find that out.

Gold Coast—Costa Rica Horizons– Nicaragua