www.CostaRicaTicas.com
https://forum.costaricaticas.com/

C.R. Real Estate Update
https://forum.costaricaticas.com/viewtopic.php?f=20&t=23239		 Page 1 of 2
Author:  BondTrader [ Sun May 11, 2008 4:15 pm ]
Post subject:  C.R. Real Estate Update
O.K.---I started looking at modest homes ($125K - $200K) in C.R. about 2 years ago (i.e. Atenas, Grecia..) but have not done anything yet. My questions is really pretty general here but, overall, how have prices held up in C.R. during the past year given the big downturn in the U.S. market and the overall state of global economie's. Have prices come off at all in C.R. or held their own (compared to say a year or so ago)? Fedback appreciated. Thx.
Author:  Californicationdude [ Sun May 11, 2008 4:45 pm ]
Post subject: 
consider renting.

strongly consider renting.
Author:  TicaFan [ Mon May 12, 2008 2:10 pm ]
Post subject: 
Californicationdude wrote:
consider renting.

strongly consider renting.


Why?
Author:  Pacifica55 [ Mon May 12, 2008 2:17 pm ]
Post subject: 
Just my $.02, but I would wait at least a year and see how things shake out before making an investment, even if I were very savvy of the CR market. Things just aren't real stable right now... :?
Author:  Zman [ Mon May 12, 2008 5:14 pm ]
Post subject: 
My peception is that the over inflated Jaco type beach condo boom is slowly down alot. The prices seemed to have peaked a while back.

The central valley has always been a totally different market. Nothing like the big run-up in prices like what has happened in the beach areas. The prices have gone up in the last 5 yrs but not by much.

Gringos usually pay the gringo price and if they try to sell in a few years it takes forever to sell and not at a good price.

There are townhouse condo developments going up everywhere and a few offer low interest loans (5.9%) by scotia bank 30 yrs fixed with a small down payment.

IMO property the central valley would not be a good investment.

Like the previous poster stated, the rents are very reasonable , so why buy??
Author:  Tman [ Mon May 12, 2008 5:40 pm ]
Post subject: 
MuchoGusto and others who have invested there can correct me if I am wrong. Its been going on 3 years since I lived in CR. Renting is fine...but for medium or long term return on investment...you CAN find deals here and there anywhere in CR. It just takes time and patience. ANd as has often been emphasized...get plenty of sound legal advise and due diligence before you buy or give 1 dollar in deposit. Probably can trust attorneys or realtors that experienced investors like MuchoGusto have used there. If you want my list of 25 shitty lawyers i knew in costa rica...I can send it to you so you can have fun too... :roll:

In summary...if someone does it RIGHT, you can make a good investment and gain income and growth of your investment there. Rent as we all know goes right out the window. IMHO and YMMV
Author:  Lennydo [ Mon May 12, 2008 11:38 pm ]
Post subject: 
Guys, I have found that nice places have at least held their value and some of the more desirable locations have increased.

I purchased a nice condo approx 18 months ago and since I only come to CR on a limited basis I am now interested in selling a 1/3 interest for $100,000 to two other guys who come to CR on a limited basis. I've had quite a few folks interested since many of us come to CR for a month or two at a time before we choose to live here Full time. So far, no one has complained about the price. Some realtors have said I should ask more; and of course list with them. :)
Author:  Pacifica55 [ Tue May 13, 2008 12:28 am ]
Post subject: 
Did I read that right? You are selling a 1/3 share for $100,000? Man, that must be a very nice condo... :shock:
Author:  Californicationdude [ Tue May 13, 2008 10:45 am ]
Post subject: 
my advice to first rent is grounded in the belief that it is easier to buy than to sell.

also, you have more freeedom to change locations without the hassle of selling.

in addition, you do not tie up a lot of money or assume a lot of financial liability.

also, you avoid all the hassles of ownership and the risk of loss of equity in value.

true, you lose out on any possible equity gains.

how much do you think residential real estate values will continue to grow in CR?

I would bet they will remain flat at best for the next few years.

i wouldn't be in any hurry to buy.
Author:  Zebra [ Tue May 13, 2008 11:52 am ]
Post subject: 
Cali,

You make some valid points. I know this subject of "owning vs. renting" is a very sensitive issue with some people, so I won't offer much detail. It is not only a financial issue, but also a lesser thought of issue concerning "lifestyle." There are many "myths" that "owning is always better than renting." :?

By the way.......you forgot to mention a VERY important reason why renting in CR is better than owning......the issue about chica's rights concerning living arrangements with a gringo.

It was always my feeling that "the best thing about living in a small apartment is...that nobody wants to live with you." 8)

Zebra
Author:  Georgee [ Tue May 13, 2008 12:23 pm ]
Post subject: 
Quote:
By the way.......you forgot to mention a VERY important reason why renting in CR is better than owning......the issue about chica's rights concerning living arrangements with a gringo.
A good point!

When you decide to live with someone you have to be very careful!! I know several guys which got kicked out of their house by their girlfriends! All of them were in the lucky situation that they didn't own the place!
Author:  Mucho Gusto [ Tue May 13, 2008 12:33 pm ]
Post subject: 
Tman wrote:
...Renting is fine...but for medium or long term return on investment...you CAN find deals here and there anywhere in CR. It just takes time and patience. ANd as has often been emphasized...get plenty of sound legal advise and due diligence before you buy or give 1 dollar in deposit.

IMO, this should be a "Sticky" for anyone who's even thinking about buying/investing in real estate..... ESPECIALLY in CR ! Remember - you can NEVER do too much homework! :shock:

MG :wink:
Author:  Pacifica55 [ Tue May 13, 2008 12:38 pm ]
Post subject: 
I think there are going to be some great deals in CR in the next year or so as belt tightening (noose?) continues in the US. Home prices in the PNW have not fallen a ton but there are just NO buyers. Lots and lots of luxury items (cars, boats, vacation properties) on the market at fire sale prices as people lighten the load. Canadians are having a field day with anything they can drag north, eh.
Author:  PacoLoco [ Tue May 13, 2008 12:57 pm ]
Post subject: 
Californicationdude wrote:
... it is easier to buy than to sell.
From what I saw in CR this is my belief also, there's nice houses that have been on the market for years. If down the road you need to sell and get out be prepared for a long wait or perhaps a loss unless you get lucky. Since renting a decent place can be so affordable it may make sense to just rent and invest that money elsewhere. On the other hand I saw some remarkable deals in CR foreclosures which is the only way I would buy but I never pay retail for property anyway.
Author:  Lennydo [ Tue May 13, 2008 1:01 pm ]
Post subject: 
Yes, Pac55 it is a nice condo. It's nicer than what I have in the US.

I agree with the chica issue. I was really sweating it when I broke with a chica a few months back. I was oh so careful to keep my cool. She had a 5 year old son living with us and all she would have had to do was call the Police and I would have been out. It was so dicey that I had my local attorneys on standby for several days just in case I got tossed in jail. I was damn lucky. :roll:

If you have any stupid thoughts like I did of homesteading a chica, be smart enough to only do it in furnished rental property. I was able to get her to move with guilt and cash, but it could have cost me mucho more.
Page 1 of 2 All times are UTC - 5 hours [ DST ]
Powered by phpBB® Forum Software © phpBB Group
https://www.phpbb.com/