www.CostaRicaTicas.com

I think that Costa Rica is to the USA what Nevada is to California. Now that the RR market has slowed in California, Nevada didn't just slow, it dropped like a boulder. The riches of California fueled the Nevada market. Houses in Nevada were way over priced for the local market - they were priced for Californians who were selling out to living in Nevada. Casino jobs are not high paying so many of Nevada's native complained about home prices due to the California invasion. Prices have dropped 25% in Nevada and development has slowed to a crawl. I have a friend there who got burned by the RR market. He has 2 houses that he can't sell because he is upside down on them now and even worse the rent he gets doesn't pay the mortgage. Many were burned like him.

So it should read like this: I think that Costa Rica was to the USA what Nevada was to California.

The game is over! CR isn't a bad place to buy if you are going to live in the home you are buying, but there is no reason to buy in CR for "investment." You can investment just as well in the USA (or just a badly these days) - there is absolutely no reason to have an "investment" property 2000 miles from home. I admit that if you bought years ago, you are probably okay, but today and within the last 2 years, there is no reason to "invest."

Articles like the above are for dumbies for only a real dumbie would believe that the CR RR market is still kicking ass and so defying what is happening in the world's one one economy.

I've never liked "hype." When a saleperson says, "get it now, none will be left, we're 80% sold, only 20% left and there is a price increase coming soon" I get even more determined to back away rather than move forward.

One thing that I am suprised to never see anyone bring up on this board regarding Costa Rica housing is Quality.

Costa Rica houses are far below the normal US standards. I suggest everyone go look at places that have been built in the past 2 to 5 years, and see how they hold up. I have yet to find a single house that was well-maintained, or held up to the elements.

I'm currently in the process of buying a piece of land and building a house myself, and I constantly fight with contractors over material and construction quality. They just don't understand the drive to build a better house.

The typical Costa Rican home lasts around 10 years, and then needs major repairs and reconstructions. Ask any local about this, and you will be inundated with the horror stories.

Since this thread is around "Retirement Home", I don't expect people to be looking for a fixer-uper, nor do I expect people to want to constantly work on their home, istead of enjoying the benefits of a Costa Rica lifestyle.

In my estimation, to safely retire and enjoy Costa Rica, you need to perform excessive due diligence on the quality of the construction, and pony up a very large up-front cost on quality materials and construction.

I have yet to find a single property under $300k that would successfully last more than 5 or so years without renovations.

Ticobob,
I applaud you, as you brought up an excellent point, which is definitely not mentioned very often.

I agree 100% with your assessment of quality (or lack thereof) construction in CR. As a state certified contractor in Florida, I am well aware and abreast of construction practices and building codes. Which is just another prime example of exactly why a person needs to physically be in CR, if they want to build a home. And if they are NOT knowledgeable about construction, they should consider hiring a professional contractor, engineer or inspector to oversee their project.

And with the finished product, what you see might look pretty. But it's what you DON'T see that will come back to bite you in the end. The difference with a few bucks extra (per square foot) may seem like it's too much to pay, but it's a drop in the bucket, considering what it will cost (on the back end) if you skimp on construction quality and better materials (on the front end).

Great advice TB!

Mucho Gusto

_________________
You ALWAYS have an option ....... "NEXT" !!!

I looked at new homes built by ticos...and also by gringos. In one community, gringo builders touted the fact that they built according to US construction code and used superior materials. Yes, it was obvious... the gringos builders did a better job than their tico counterparts. However, IMHO, the marginal improvements in quality, do not justify an asking price 2 or 2 1/2 times greater than a comparable home constructed by ticos. I hope this real estate slow-down tempers some of the greed in our "building brethren."

Peace,

_________________
Blue Devil

Pura Vida...enjoying life to the fullest...

I don't know if this helps or hurts the cases stated above but I bought a 2 bedroom condo in a high rise in the western suburbs of San Jose for 90,000. two years ago. Last week, I was offered 115,000.00
LVSteve

_________________
Just an old horney, fat gambler.