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 Post subject: Rent or buy?
PostPosted: Sun Nov 24, 2019 12:08 pm 
CR Virgin - Newbie!

Joined: Sun Nov 24, 2019 11:44 am
Posts: 3
Hey all
I may have work in San Jose for a year. I'm looking online at condos and it seems nice furnished apartments with amenities are pretty expensive compared to what i thought they would be (Distrito 4 is average 1500 a month) but i like the pool area and proximity to market and restaurants that are connected.

So it makes me wonder if it is worth buying a condo instead of renting, even if it is for a couple of years and rent out when work ends as a long term investment (or sell).

Anyone have any thought?


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 Post subject: Re: Rent or buy?
PostPosted: Sun Nov 24, 2019 12:29 pm 
Masters Degree in Mongering!
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Joined: Mon Sep 12, 2011 8:01 pm
Posts: 737
Location: South Florida
Rent, Rent, Rent


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 Post subject: Re: Rent or buy?
PostPosted: Sun Nov 24, 2019 5:35 pm 
PHD From Del Rey University!
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Joined: Fri Sep 18, 2009 10:34 pm
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Location: From behind pulling her hair
Real estate is not the same as in the US. Even renting is a joke in CR. You have very little rights and you will get even less service from most landlords. Kiss your deposit good bye 95% of the time even if you leave the place better than when you rented it. Unless you are living there full time and are good fixing thing yourself you are going to be at the mercy of the locals whom are masters at not doing things right but making it work in the interem, usually resulting in more expense later...... I am a contractor and laugh every time I go to fix something in CR. So best advise rent and give up the smallest deposit you can get away with and make sure when it is time to leave you use your deposit money for the last months rent. Also the utility bills will be in the owners name so make sure you can view the info online so you know how much your bill is. Also multiple people will share 1 meter and they will divide the amount by who they think can pay more, or you will pay the whole amount since you are a gringo. If you are going to be in a nicer condo you might not have an issue with utilities but I have seen some phucked up shit done to steal electricity or to make someone else pay the bill. Be very careful if the owner lives next door or thier relatives do.


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 Post subject: Re: Rent or buy?
PostPosted: Mon Nov 25, 2019 3:44 pm 
CR Virgin - Newbie!

Joined: Sun Nov 24, 2019 11:44 am
Posts: 3
Thank you for the responses.

I saw 2 apartments at Distrito 4 that looked nice. it's a newer condo so less things to go wrong I guess like the split utilities scam?


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 Post subject: Re: Rent or buy?
PostPosted: Mon Nov 25, 2019 8:56 pm 
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Joined: Sun Dec 04, 2005 8:17 pm
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Location: Tampa Bay
"I saw 2 apartments at Distrito 4 that looked nice. it's a newer condo so less things to go wrong I guess like the split utilities scam?"

Not necessarily gymrat9. If one owner has ownership of several condos in one corporate name, they may have asked ICE to put in only one meter. It's not uncommon in CR for apts to include electric, unless a gringo is the tenant and will pay the full meter charge. It's safer than owning real estate, but you basically have no rights and most cases the landlord will keep your deposit unless you subtract it from your last payment made on your way out the door.

You might have better luck finding a gringo offering extra space via AirBnB.

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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 9:46 am 
CR Virgin - Newbie!

Joined: Sun Nov 24, 2019 11:44 am
Posts: 3
Can anyone recommend a gated community like Distrito 4 in Escazu? I saw an apartment and I like it but it is too expensive. I'm not driving so between the amenities and having the restaurants and grocery store on your doorstep is nice. My real estate agent hasn't shown me anything similar with other places (and i realise agents don't have access to all the listings like MLS). So my agent said "if you know or see anything let me know and i can show you" how am i supposed to know??? LOL.


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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 12:07 pm 
PHD From Del Rey University!
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Joined: Fri Sep 18, 2009 10:34 pm
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Location: From behind pulling her hair
Try facebook marketplace. Costa Rica does not have the sort of Rental Listing services that you will find in the US. A lot of what you need to do is Walking around looking for signs that things are for rent. At the gated communities you go up to the guard and tell him you are looking to rent or buy and he will let you in, this is one time being a gringo is an advantage, as you will not get any shit about being let in to look around and see if anything is for rent that catches your eye. For facebook it helps if you are not in CR to use a program like IPVanish and change your location to Costa Rica so your browser pulls up info based on your set location. That way you have an easier time browsing the adds and not get as many out of location ads.


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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 1:47 pm 
Not a Newbie I just don't post much!
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Joined: Sun Apr 23, 2006 4:49 pm
Posts: 105
A different perspective ….

I have lived in Escazu for 10 years and have had a different experience from some of the other posters here.

I have lived in 5 places and have never had an issue getting my deposit returned in full nor had issues with utility bills being over charged. I’m not sure why but I always pay everything (rent included) well before the due date and leave the campsite cleaner and in better shape than when I arrived. I have always stayed at least through the initial contracted time. Further, I have established and maintained a good relationship with the owners.

I’m not sure of your budget but some options in Escazu that might meet your requirements (close restaurants and good security) are:

1) Riverside – good security, pool (not heated), gym and a few restaurants either onsite or close and a Fresh Market within about 100 yards.
2) Valle Arriba – good security, heated pool, small gym but nothing within an easy walking distance for restaurants and markets. Lots within a kilometer or so but would need Uber or taxi.
3) Escazu Village – good security, pool (not heated), gym on site but one must pay a fee, 5-7 restaurants onsite (don’t even have to leave the building), two stores onsite plus other amenities. Walmart, banks, markets, other restaurants and etc are within an easy walk (100 yards or so).

Price for each of these 3 is about the same – USD $1,300 - $1,600 depending on the size, furnished or unfurnished, number of bedrooms/baths, view and etc.

Hope this helps!

Woozo


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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 9:49 pm 
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Joined: Sun Aug 09, 2009 1:46 am
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Location: The Banana Republic
I rented a house in Escazu for a while at $800 a month. It was nice but boring out there. Here are a few websites for buyers and renters. I still look for bargain properties to buy but doubt I ever will. They hit you with the VAT tax at every step of the purchase and sale now, and I think there is a 15% capital gains tax in the works for when you do sell.

https://www.realtor.com/international/cr/rent/
https://m.encuentra24.com/costa-rica-en ... 2aEALw_wcB
https://www.point2homes.com/CR/Rental-P ... rue&ajax=1


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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 9:59 pm 
PHD From Del Rey University!
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.

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Last edited by Boynton on Tue Mar 17, 2020 11:15 pm, edited 1 time in total.

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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 10:59 pm 
Ticas ask me for advice!
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Joined: Sun Aug 09, 2009 1:46 am
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Location: The Banana Republic
30% The taxes just kill ya' don't they! That just removes all the incentive to buy there.


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 Post subject: Re: Rent or buy?
PostPosted: Tue Nov 26, 2019 11:27 pm 
PHD From Del Rey University!
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Joined: Sat May 16, 2009 9:58 am
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Last edited by Boynton on Tue Mar 17, 2020 11:15 pm, edited 1 time in total.

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 Post subject: Re: Rent or buy?
PostPosted: Sun Dec 01, 2019 8:46 pm 
PHD From Del Rey University!
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Joined: Sun Mar 27, 2005 10:20 pm
Posts: 12606
Rent, don't buy.

And watch real estate rental scams too. Don't send any deposits electronically ahead of time, hand them over only when you get your keys. Don't agree to anything sight unseen. Pics can be deceiving. I once agreed to rent an apt and the pics looked good. But when I saw it, it had stained mattresses, smelled like piss, dirty as Phuck, dial up internet, and the location sucked.


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 Post subject: Re: Rent or buy?
PostPosted: Mon Dec 02, 2019 10:43 pm 
PHD From Del Rey University!
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Joined: Wed Oct 20, 2004 10:46 am
Posts: 1760
Location: Los Angeles
VERY easy to buy property in CR. Good Luck trying to sell it. You will likely "take a bath". Translation: "Rent".


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 Post subject: Re: Rent or buy?
PostPosted: Mon Dec 09, 2019 1:12 am 
Masters Degree in Mongering!
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Joined: Wed Jan 09, 2008 4:29 pm
Posts: 693
Location: North America
My Pappy always told me if it
Floats, Flies, or Phucks....rent it! :oops:

And I would tell my son when he is old enough, Don’t buy property in Costa Rica.

I speak from experience, it’s a money pit. Everything costs 4x to replace and you will get upset being taken advantage of over and over by handyman that are not so handy... :shock:

Other poster is right, you will take a bath when you sell it.

Finally, if you acquire a Novia and she lives with you....she can have you kicked out if your own house and it will cost you $40k to get her out...minimum.

RENT :mrgreen:

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