Essential Tips to Make Buying Land in Costa Rica a Smart Investment
If you are looking to invest in real estate in Costa Rica, then you are on the right path. Costa Rica makes a good investment location because; the taxes are low, the infrastructure is well developed, Costa Rica is a favorite tourist destination, your investment will earn the year round, the real estate market in Costa Rica is fast growing and you can also purchase an already developed property. There are many other good reasons why you should invest in Costa Rica.
Here are Some Tips to Help you out When Buying Land in Costa Rica
Real Estate Agent
You should first hire a real estate agent to help you through the process of buying land in Costa Rica. A real estate agent makes it easy for you to get land in the area that you prefer. They also provide many options so you can quickly choose between the available options. A good agent is also a wealth of information. They keep abreast with the trends in the market and the news. They know where the developments are happening, which places are set for future development and which investment will provide a good shift for you.
After you have been presented with the available options then you should consider the location. First, consider what your goals for the investment are. Do you want to build a bed and breakfast? A hotel maybe? Are you looking to build holiday homes? Or do you want a place that you can settle and farm? With these goals in mind you will be able to pick the land that meets your needs. Check on the developments in the area to see if they are headed in the direction you want.
After you have confirmed the location is right, you should then check on the title deed. Without a clean title deed you might end up being defrauded. Liaise with your attorney so that they can investigate the title for you to ensure it is legit and for the lots you are purchasing. If the title of the land is clean, then you can progress to the next tip.
Before investing you need to know exactly what the development plans for the area are. Those plans should align with the goals that you have. For instance, if the area is mountainous, the future growth plans for the area might not be commercial because the terrain is an obstacle for commercial development. If you are looking to undertake commercial developments in the future, consider an area that is set for such developments.
The utilities in the area determine how well the investment will serve the purpose you want. Check for the availability of water, power, cable TV, and internet on site depending on your needs. If they are not available already, contact the service providers to learn if they can provide what you need before you start developing the land.
Terrain and Topography of the Land
This is very important because it determines how easy it will be to develop the land to what you want. If you want a land that is easy to develop then flat land is ideal for you. If you are looking for a view, you might need land that is high or hilly. If there is a river running through the land or a creek, there are laws governing how close to the river you can build.
The quality of the land is determined by the quality of the soil. If you want to farm on the land, then you should check on fertility of the soil. For construction, the structure of the soil is very important to consider. Loose soil is not ideal for construction. If the owner of the land has tried to fill the land before to make it flat, they should have used good quality soil and compacted it to form a strong structure. You should hire professionals to help you test the quality of the soil especially where you intend to build.
Well Maintained Property
The property should also be very well maintained. The owner of the land should have at least erected a fence all around on the boundaries of the land. The grass and other vegetation on the land should be trimmed short. This helps to keep away squatters that can encroach on the land. After you acquire the farm, you should ensure it is well maintained also if you are not developing it immediately.
The real estate market in Costa Rica is a boom and the trends are upwards, meaning the time to invest is now. The increasing tourism in the area makes the real estate market lucrative in Costa Rica. With these tips you can be sure that you are buying land in Costa Rica that will be profitable for you in the near future.
If you want more information on buying land in Costa Rica either for investment, retirement home, vacationing home or farm feel free to visit EcoQuintas, a real estate firm specialized in selling land / quintas with 100% financing:
Address: 702, Alajuela Province, San Ramón, Costa Rica
Phone: +506 2481 0101