Long Term Pura Vida: Planning on Sticking Around?

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If you're considering living in Costa Rica for the long term, there are many things you must or can do to help you make the best possible real estate investment decision. But for the sake of brevity, I will boil it down to 3 factors that I believe, are needed to ensure a relaxed and seamless real estate transaction.

A Local Realtor

Engaging a reliable, reputable realtor who specializes in the area you are interested in settling in is the first step to a good buying experience. There are many to choose from, especially in tourism hotspots. Take your time before selecting the one you want to work with. Often, people will engage 2 or 3 realtors at the same time feeling their helping their chances. This often just leads to confusion and conflict at the signing table. So I recommend you choose one and stick with them until such time as you feel the need to move on.

It's important that your agent is intimate with the specific area you are interested in. Though Costa Rica is a small country, there's no way anyone could know about everywhere. A local realty will have the most pertinent real estate information available as they likely live there themselves, which puts their fingers on the pulse on the town and surrounding community. Only with this local knowledge can one accurately identify the best real estate values while steering clear of properties with a unsavory 'history' that only locals are privy to.

Legal Counsel

Another key to a seamless property purchase in Costa Rica is to engage legal counsel who is familiar with real estate transactions in your specific area. Often, realtors will know attorney's that, over time, have developed a good working relationship with. But always be sure to check references and reputation regardless of how glowing a recommendation may be. The attorney will sift through the local legal channels to ensure that you're buying a property that is properly titled with no liens or encumbrances. Buying real estate in Costa Rica is relatively easy as even tourists can legally buy property while they're here. Having a reputable attorney engaged in every type of transaction goes a long way to protecting your investment while allowing you to seamlessly transition into the Pura Vida lifestyle.

Residency / Immigration

For those on a tourist visa, renewing is as simple as leaving the country every 180 days for a minimum of 72 hours. In most cases that might be an inconvenience, but in Costa Rica's case, it means have the luxury of taking a car or bus ride to either beautiful Nicaragua to the north, or amazing Panama to the south, and stay a few days. Anyone in Canada would call THAT the vacation. In Costa Rica though, it's a long weekend get away that also satisfies your visa requirements. Pura Vida!

For those who want to become a legal, full-time resident of Costa Rica, you can apply for residency with the need to leave the country as a tourist. There are many reputable attorneys that can assist you with this process, and they likely will not be your real estate attorney, but it's also very likely they'll know one. I recommend finding one that is well versed on your country of origin.

Content Credit: Jason Mueller