Thinking about investing in a second home? Retiring or going expat? Why not consider six spectacular places to live in Latin America?
Ingrid Khadijah
Why Should You Choose a Place to Live in Latin America?
For all the same simple reasons full-time expats and retirees flock to this part of the world. Simpler life. Tropical climate. Azure waters and gorgeous beaches. Jungle and mountains of unparalleled biodiversity. And growing numbers of flights from around the world.
You must be thinking, “Aside from the obvious, what else lures real estate investors to Latin America?”
Rich cultural heritage, pure beauty of nature, and simple lifestyle are truly magnificent. But Panama, Belize, Honduras, Ecuador, Costa Rica and Mexico have other ideal investment factors.
Why Do Investors Love Latin America?
These top emerging markets have healthy, growing economies. Construction and reconstruction are on the rise. Tourism, retirees, and expat numbers are steadily increasing. As a result, there are many fresh business opportunities. Generally speaking, there’s a robust need for rental properties.
Infrastructure improvements are a top priority. Internet access is typically a given. World-class hospitals and other modern medical facilities are available. Public transportation is solid.
New international airports are being built. Airline routes are growing. And visas and passports are easy to obtain.
Home prices are a real bargain. You can get a bigger house, a great location, and better views for so much less money compared to most other countries. You can find a modern two-story 3-bedroom/3-bath home with high-end finishes for $115,000.
The costs of living are low. In many places, a mere $2.50 will buy dinner at a local restaurant, and a couple can live really well on less than $2,000 per month.
Taxes, insurance, and utilities are low. And retiree incentives for expats are quite excellent.
So check out these six spectacular places to live in the Latin Tropics.
Cariberry
1. Ambergris Caye, Belize
“Best island in the world!” That’s what Trip Advisor readers said two years in a row. Ambergris Caye strikes a perfect balance between quaint and modern. High-rise buildings and traffic lights are non-existent. Locals, Latin immigrants, and expats from all over the globe traverse the island’s sandy roads barefoot or in a golf cart.
You’ll love exploring the diverse ecosystems around the island. From palm-lined beaches to mangroves, jungles, and reefs, you’ll never run out of things to do. Ambergris Caye is situated less than a mile from the second largest barrier reef in the world (Belize Barrier Reef). And one of the world’s top diving sites (Great Blue Hole). Scuba diving and snorkeling can’t get any better.
Can you imagine yourself sailing to the nearby cayes? Caye Caulker is a popular neighboring destination.
John Colby
2. Roatán, Honduras
Lonely Planet termed Roatán “pitch perfect.” The well-developed tropical setting offers an active lifestyle in a tranquil setting. Picture thirty miles of Carribean paradise with its own international airport, Juan Manuel Gálvez International Airport. Take your guests for a swim with the dolphins and sea turtles in Roatán’s warm Carribean waters.
Go sport fishing or kayaking. Explore shipwrecks, seawalls and Mayan artifacts. Scuba dive and snorkel in the nearby Belize Barrier Reef. And ferry to the mainland port of La Cieba in only an hour.
Take your land lover guests zip lining or ATV riding through the jungle.
Casey
3. Cuenca, Ecuador
Expats of all ages and from around the globe flock to Cuenca for its beautiful Andes mountain location. They’re lured there by Cuenca’s natural beauty, captivating colonial architecture, and 70-degree temperatures year-round.
Modern facilities and solid infrastructure make living here a charm. Among the breathtaking skylines, you’ll have the modern conveniences of pedestrian walkways, bike paths, underground parking facilities, and an excellent light-rail system.
State-of-the-art medical facilities combined with highly qualified medical professionals are added bonuses. And shopping malls, grocery and hardware stores, restaurants, and bars are plentiful in Cuenca.
Viva Tropical
4. Boca Chica, Panama
The Boca Chica economy is about to explode. Expansion at Enrique Malek International Airport (in David, Panama) will, for the first time, receive flights from major airlines around the world. A scenic 30-minute drive from the airport lands you in the serene little fishing village of Boca Chica. Picture rolling hills and secluded beaches. Sapphire waters and “emerald islands.” A so-called secret “tropical fantasy!”
How cool would it be to take a 10-minute boat ride to your home on Boca Chica Island? You’ll feel like you’re hours away from civilization. And you might even forget what day it is. But the truth is, it’s incredibly easy to get to.
There are no tourist traps on Boca Chica Island. Just unspoiled prehistoric nature. A place where locals and like-minded expats can still own a piece of heaven for a bargain.
Viva Tropical
5. Nosara, Costa Rica
Lonely Planet compared Nosara with Malibu and Oahu’s North Shore. Nosara’s surf-friendly beaches are some of the most beautiful in Costa Rica. Imagine dramatic rocky cliffs, tropical palm trees, and big expansive sand shores.
Internationally-recognized Nosara Yoga Institute made Nosara a popular travel destination with an enthusiastic health-conscious culture. Health food stores and organic markets are plentiful.
International schools with excellent academic and cultural programs make it ideal for raising a family.
Sean Savage
6. San Miguel de Allende, Mexico:
San Miguel is a UNESCO World Heritage Site. This interior city emerged from agriculture and industry to tourism and expat commerce. Although it has no beaches or blue waters, visitors fall in love with San Miguel’s cobblestone streets, rich history, and diverse culture.
The preserved colonial and Spanish architecture is truly breathtaking. And the “eternal spring” climate, combined with moderate costs of living and walkability, seals the deal.
You’ll enjoy roaming the vibrant art community and eclectic shopping venues.
Need you look further than these six spectacular places to live in Latin America?
Latin America provides an ideal lifestyle and perfect conditions for second-home investors, retirees and expats. Property bargains, benefits and amenities make your transition easy.
Take a trip down to see for yourself.
Viva Tropical Radio
In this episode we cover the Southern Zone of Costa Rica, an area on the Pacific coast stretching from Manual Antonio south to the border of Costa Rica and Panama.
Casey Stamps, investment specialist, comes back to do a deep dive into this very large and diverse region.
We discuss building costs, where he thinks the opportunities are located, what is making this region grow, and the investment and buying strategies that are working today. We also discuss who would really love this stretch of coast and why.
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Show Notes
Learn more here about Casey Stamps and his company.
For over 25 years, the Costa Rica economy has been one of the major development success stories in Latin America. This steady economic expansion has directly benefited expats and investors looking to find a tropical escape with a strong potential for return on money invested.
In addition to the ongoing effort by the government to encourage foreign investment, Costa Rica continues to offer the benefits of a strong expat presence, a well-developed infrastructure, and a wide variety of residential options that has made it a magnet for retirees and developers from the U.S., Canada and Europe. The cost of living in Costa Rica still compares favorably with other countries in the region and, certainly, with its North American neighbors.
The Angelov
The Strength in the Costa Rica Economy Is Its Stability
Having a history of stability, both in the governmental and financial sectors for over 20 years is one of the primary reasons Costa Rica continues to attract direct foreign investment. Developers and investors looking for a secure destination, that promotes growth and welcomes business, have found both in this Central American location.
This level of financial security translates into greater potential for expats; both those looking for vacation properties and those looking for a place to retire. Even with the worldwide decline of 2008, property values have begun a resurgence, increasing the desirability of owning real estate in the country.
Janeboles
Why Costa Rica Stands Out
The economic expansion of the last two plus decades is no accident. By focusing on liberalizing trade agreements, supporting a strategy of export-led growth, and actively seeking foreign investments, the Costa Rica economy grew at an average of 5% per annum during the 1990s.
Even with the recent uncertainties of the global economy, Costa Rica’s growth is anticipated to be between 4.1% and 4.3% for the next few years. This rate outpaces the growth rate of economies of other nations in the region.
Eco-Tourism and Biodiversity Are Also Major Contributors
Costa Rica’s commitment to the environment has long been a drawing card for many expats looking for a healthier, purer lifestyle. With many areas dedicated to maintaining the unique biodiversity found throughout the country, tourism continues to be a major source of revenue and foreign exchange.
In a recent article, CNN listed Playas de Nosara, in the Nicoya Peninsula as one of the eleven places to go in 2014. Recently awarded the Blue Flag by the non-government, non-profit organization, the Foundation for Environmental Education, for its quality and commitment to the environment, Nosara is a prime example of Costa Rica’s dedication to maintaining its eco-friendly reputation.
More Travel Options Translate Into More Economic Growth
Costa Rica is one of the most accessible countries in Latin America. With two international airports, Juan Santamaria Airport in Alajuela (just outside San Jose) and Daniel Oduber Airport in Liberia, travel to and from the U.S., Canada and European destinations is an easy proposition. As more airlines add schedules to Costa Rica (Southwest is beginning to add service from Baltimore to San Jose in March 2015), the number of tourist and business travelers will also increase.
The improved road system and infrastructural support has also opened the Central and Southern Pacific zones to both commercial and tourist interests. With more money being spent in those areas, demand for residential options will also increase and will be reflected in rising property values.
Costa Rica Beauty
Owning Property Is a Secure Proposition
One of the biggest areas of foreign investment in Costa Rica is the purchase of property by expats. Foreigners have the same rights (and obligations) as Costa Rican citizens. The existence of a Central Land Registry also adds an element of security that your title is clear; something that is often much harder to discover in other Latin American countries.
Property taxes are one of the major pluses of land ownership in Costa Rica. The tax rate is 0.25% of the registered property value as determined by the local governments or municipalities. Since Costa Rica’s economy is not as dependent on tax remittances as many other Central and South American countries, it is reasonable to expect that this rate will stay low for quite some time.
Hollywood Smile310
What the Future May Hold for the Costa Rica Economy
There are a number of potential areas for growth that make the outlook for Costa Rica’s economic future a bright one. With the approval of CAFTA (US-Central America Free Trade Agreement) in 2009, Costa Rica has seen a significant increase in direct investments by foreign companies in such areas as telecommunications and the insurance industry.
A major impact of these increased investments, is a wider variety of companies providing internet, cable, and cell phone services throughout a larger portion of the country. This is a major draw for expats who want to stay “connected” even while they are enjoying their retirement paradise.
Major financial projects are also underway on a variety of fronts. Perhaps the most exciting is a project, supported by the World Bank, to revitalize, restore, and enhance the port city of Limon.
The project is focused on improving the infrastructure, developing and helping to sustain Limon’s cultural history and heritage, as well as enhancing employment opportunities. The long-term impact could lead to more development on Costa Rica’s Caribbean coast and provide new potential for economic growth.
While eco-tourism and agricultural exports continued to be two of the main economic engines in Costa Rica, other areas are starting to make an impact. Medical tourism has been a steadily increasing growth industry in recent years.
The combination of state-of-the-art facilities, U.S.-trained and board certified specialists, and much lower prices than can be found in the U.S., have all contributed to the expansion of, what was once, just a “niche” sector to a significant financial contributor.
Patrick Turek
The Possibilities Are There
Having stability, both economic and political, combined with a strong trend of financial growth are important factors for any investor. For retirees whose budget may not be as flexible, knowing that money spent on your tropical getaway is a good investment with a potential for increase valuation can make those “golden years” truly golden.
Looking realistically at your situation, level setting both your near and long-term goals, and doing your research is the best way to explore those possibilities that Costa Rica holds. Above all, visit this special country and see if it calls to you; if your heart hears that song, you’ve already taken that first big step.
For many expats, the idea of a Costa Rica retirement seems like a dream. However, making that dream a reality is actually easier than ever before.
With beautiful beaches, well established communities of expats, and one of the most modernized infrastructures in the region, Costa Rica maintains its standing as one of the best places to live and retire in the world.
Martina Rathgens
Answers to Your Costa Rica Retirement Questions
For many retirees, soon-to-be retirees, and those not quite ready to retire but looking for new horizons, the idea of moving to Costa Rica often leads to a number of questions. Here are the answers to some of the most important matters about life in this Central American paradise.
Can I Afford to Live There?
There is no bigger concern for retirees on a fixed income than how much it will cost to live on a monthly or yearly basis. There have been a lot of stories about how inexpensive a Costa Rica retirement can be. It is important to remember that there are a lot of individual factors that can determine whether the move is affordable.
Living in the larger, more developed areas, such as San Jose, Santa Ana, or Escazu is naturally going to cost more. The larger residences, modern homes, and condominiums in these areas will have a higher price tag than those in smaller towns.
Rents vary along the same lines. It is possible to find a modest “tico-style” house for a few hundred dollars a month. The trade-offs are that some of the appliances that are commonplace in U.S. homes (ovens, dishwashers, etc.) may be lacking.
Similarly, shopping for groceries and other items can have an impact on your budget as well. Going to the local farmers’ markets or local “mercados” will certainly cost less than visiting more expat-oriented stores like the Walmart in Escazu or some of the upscale Auto Mercados in the major metropolitan areas.
The bottom line about your “bottom line” is to examine your own priorities, the “have to haves,” and go from there. Balancing those items against your monetary resources can help you decide if Costa Rica will work for you.
Reckert20
Where Are the Best Expat Communities?
One of the major selling points of retiring in Costa Rica is the large number of expats who have already settled in the country. There are many established expat communities throughout the Central Valley; Grecia, Atenas. and Lake Arenal are good examples.
Escazu, Alajuela, and San Jose are metropolitan centers with a large number of expat neighborhoods, as well as stores and shopping centers that cater to the U.S. clientele. Beach communities along Costa Rica’s “Gold Coast,” including Playa Flamingo, Tamarindo, and Playa del Coco have long been favorites for retirees looking to find that tropical escape by the sea.
The Central Pacific Zone is also another location where a growing number of foreigners have decided to move to and thrive in. Jaco, Los Suenos, and Playa Hermosa (not to be confused with the Playa Hermosa near Tamarindo), have seen their numbers of expats dramatically increase in recent years.
While these areas are some of the best known, it is not difficult to find groups of happy retirees from the U.S. in many Costa Rican locations. Using social media and online resources is a good way to begin to check out the places that best suit your needs and wants.
What Kind of Housing Can I Expect?
The housing in Costa Rica can range from a simple “tico house” with minimal appliances and space, to multi-million dollar estates and resort properties. Looking at real estate listings can be an invaluable tool to learning what your retirement money can actually bring you in terms of a place to live.
The quality of construction, modern amenities, and neighborhood “extras,” such as 24-hour security, pools, etc., will depend on the type of property and location. In this sense, Costa Rica really isn’t any different than most U.S. cities; doing your due diligence is the best way to determine these elements of your retirement “mecca.”
costa rica retirement
Is the Infrastructure Like the U.S.?
Much of Costa Rica has access to cable television, cellular phones, and high speed internet. The public transportation system, in the form of buses, taxis, and shuttles make getting around easier than you might expect.
The constant improvements of the roads throughout the country have dramatically reduced drive times – particularly in the southern part of the country. Completed in 2010, the four-lane highway from San Jose to Caldera has made getting to the Pacific Coast and towns such as Jaco, Manuel Antonio, and Dominical a much easier proposition.
Do I Need to Speak Spanish?
With a large number of English speakers in Costa Rica, being able to speak Spanish is not a prerequisite for retirement life there. Even in smaller towns, finding someone who can understand you usually is not difficult. In more rural locations, having some Spanish is strongly recommended. Obviously, your comfort level with living someplace where English is not the primary language can be a significant factor in retiring here.
What About Health Care?
Costa Rica’s health care system is one of the best in Latin America. With world-class facilities like CIMA In San Jose (affiliated with Baylor Medical Center) and Clinica Biblica (also in San Jose), you can receive access to the same level of care and diagnostic expertise of any modern U.S. facility. Dental care and dental tourism has become prominent in the last few years, providing dental services at a fraction of the cost found in the States.
Dennis Tang
It All Sounds Good – So How Do I Begin?
If you’ve never been to Costa Rica, make certain that you visit and explore (more than once!!!) various parts of the country before deciding to make your move. Read about areas you’re interested in and talk to foreigners who live in those areas.
Take a long, hard look at your budget (realistically) and see what you can and can’t afford. Retirement should be less stressful and having reasonable economic expectations is an important part of this process.
Last, but not least, ask yourself if you are ready to live in a new country with a new lifestyle. If your answer is “yes,” a Costa Rica retirement certainly can be part of your future.
One of the biggest considerations for expats seeking to buy their retirement or getaway home in Latin America is the taxes on real estate. Comparing property taxes of the most popular destinations for expats is an important step to deciding the best location for your tropical retreat.
Once the decision is made to become an expat, finding a home in paradise will involve some research. Looking at the unique qualities of each country and the properties available is a great way to begin your journey.
Tropical House in Paradise
Comparing Property Taxes in Latin America Country by Country
Countries in Latin America have widely different approaches as to what real property should be taxed and when. Similarly, the calculations of property taxes can be confusing for expats trying to choose which location might be a good fit for their budget.
What follows is a brief overview, by country, of the tax structure for real property. This comparison will also include any taxes imposed at the time of sale or transfer of title as well as when payment of these assessments are due.
Anoldent
Belize
Belize has a fairly straightforward approach to property taxes. For residential property, the tax rate will be between 1% and 1.5% of the value as set by the Department of Natural Resources. These are payable each year by April 1st at any Lands Department office. When looking for your Belizean retreat, making this calculation is easy.
Residents in Belize City can take advantage of a 10% discount if taxes are paid by March 31st. There is a 25% discount on property taxes for Senior Citizens (over 65) that certainly is a great incentive for expat retirees.
Investors and developers of large plots of undeveloped land (parcels over 300 acres) are subject to a Speculation Tax. This tax is computed based on 5% of the undeveloped value of the property.
When a title is transferred, a transfer tax is collected as part of the buying process. There is no tax for values under $10,000; for values in excess of that amount, the tax is a flat 5%.
Didier Baertschiger
Costa Rica
For all of the attention and growth that Costa Rica has experienced in the last decade, property taxes still remain as some of the lowest anywhere, including the U.S. The tax rate is 0.25% of the registered property valued as determined by the local governments or municipalities.
Some of the very large and high-end properties have been subject to a luxury tax based on such items as size, custom furnishings, and fixtures. These rates are still surprisingly low; in 2013 it was estimated that that this tax was in the range of 0.1% to .25% of property value.
Changes to the transfer tax of 1.5% may impact some buyers. While the percentage has stayed the same, the basis for the calculation (property value) cannot be less than the highest recorded fiscal value. Fortunately, this amount will usually be less than the market price of the parcel. With low tax rates, finding your home in the land of Pura Vida is still a great option.
Casey
Ecuador
Ecuador has some of the lowest property taxes in Latin America. The tax rates are progressive from 0.025% to 0.5% of the value as assessed by municipal officials.
These values are considerably lower than the purchase price – often by as much as 25% to 75%. As a result, it is rare to pay over $400 in annual taxes.
There are also deductions and discounts that can appeal to expats. Homeowners over the age of 65 only have to pay half the amount of the tax assessed.
Additionally, deductions for mortgages to purchase or improve the property are possible. Ranging between 20% and 40%, these must be requested and cannot exceed 50% of the value of the property. Ecuadorian real estate may provide some of the most affordable options in the region.
Waterways
El Salvador
El Salvador is unique in that there is no property tax assessed for owning real estate. Although there is no annual assessment, when property is transferred, a transfer tax is triggered.
The tax, paid as part of the buying and selling process, equals 3% of the value over $28,571.43 of the purchase price. Non-residents also are subject to a 25% capital gains tax when selling property unless the sale occurs within three years of taking possession of the property.
The El Salvadoran government is considering a tax reform package that would include a tax on property that does not have any productive function except for private leisure or recreation. This “luxury tax” would be assessed at the rate of 1% of the value over $350,000 even if the property has not been developed.
Whether or not this tax will be enacted is uncertain. Regardless, the great majority of expats will not be impacted because of the high dollar threshold of the assessment. Low prices enhance the attractiveness of the selection of properties available.
Stefano Ravalli
Guatemala
Guatemala uses the cadastral value of real property to calculate the tax owed. The word “cadastral” refers to the extent, value of, or ownership of real property and is used widely throughout Central America.
Taxes are calculated in local currency (the Guatemalan quetzal) by local authorities. When converted to U.S. dollars, it becomes apparent that these are quite reasonable for the great majority of expat residents. Below is a chart showing the tax rates:
PROPERTY TAX |
|
| TAX BASE, GTQ (US$) | TAX RATE |
| Up to 2 million (US$255,428) | 0% |
| 2 million – 20 million (US$2,554,278) | 0.20% |
| 20 million – 70 million (US$8,939,975) | 0.60% |
| Over 70 million (US$8,939,975) | 0.90% |
| Source: Global Property Guide | |
As can be seen, there is no property tax owed on properties valued under $255,428. The taxes are due annually and are paid to local municipalities where the property is located. Searching for properties under this dollar amount may be easier than you might imagine.
Chamo Estudio
Honduras
Honduras has one of the few property tax laws that permit 12 monthly payments instead of just a single annual amount. The tax rate itself is based on value assessed by the municipality and can be calculated at $3.50 per every $1,000 of assessed value.
For example, a property value at $100,000 would have a yearly tax of $350.00. Spread out over twelve monthly payments, each installment would be for $29.16. Buying property in Honduras with the ability to spread out yearly taxes is an attractive prospect.
As a result of new tax reforms that went into effect on January 1, 2014, property transfers carried out by nonresidents are now subject to an increased 4% (previously 2%) withholding tax over the transfer value to be withheld by the acquiring party.
One important feature of the Honduras tax scheme is the incentive program for projects or plans that would increase tourism to Roatan. Under this program, property taxes may be given a 20 year exemption. This is a powerful incentive for investors looking for a location to develop and build.
Chris Goldberg
Mexico
Mexico was the first Latin American country to attract expats. The older expat enclaves, such as Puerto Vallarta, have demonstrated the potential for living and investing in Central and South America. Mexico still has a great selection of properties and lots to interest expat buyers.
Property taxes in Mexico vary from state to state. Each state’s tax department sets the assessed value and the tax rate can range from 0.05% to 1.2%, depending on the property location. Other variables such as whether the lot is improved, if there is poor access, and if it is only used seasonally also factor into the assessment.
The assessment itself is done at the time of sale or transfer and will remain the same until the property is sold again. The taxes are due at the beginning of the year although the tax amounts are not available until mid-January of the year they are due. Since tax bills are not sent out, it is up to the property owner to go to the tax office with a previous bill to obtain the current one.
Payments can be made in six installments during the first ten days of every second month; ( i.e. January, March, May, July, September, and November). Failure to pay the taxes when due can result in steep penalties; in some cases as high as 3% for every month the payment is past due.
Mexico also charges an acquisition tax on every transfer of real property regardless of whether it is through a sale, donation, trust, or other method. The rates can range from 2% to 3.3%, again varying by state and is owed as part of the transfer process.
Daniel Fajardo Valenti
Nicaragua
Nicaragua has, perhaps, the easiest property tax scheme in Latin America. The tax is a flat 1% and are calculated at 80% of the cadastral value of the property (land, buildings, and permanent improvements) as assessed by the local office.
In the city of Managua, the calculation is slightly different. There the figure is based on 80% of the cadastral value LESS 40,000 Nicaraguan Cordobas (NIO); roughly equaling $1,624 in U.S. dollars.
Since there is no up-to-date national registry for property values, property taxes are less important than in other locations. With a lack of proper records, many small communities do not even collect the taxes which has led some to view paying them as a voluntary, rather than mandatory, act. Many of these smaller towns and villages have attractive and unique properties that are worth a look.
There is a 30% capital gains tax assessed on property sales. Again, this is based on the land value and not the sale price.
Bocas Del Toro
Panama
Panama is unique among the countries in the region in that the property taxes are national and are collected by the Ministry of Economics and Finance. The tax rate is a maximum 2.1% and is based on the assessed value – usually the declared value in the original sale documents. Expats are increasingly interested in the homes and lots available here and the possibilities that Panama offers new arrivals.
The calculation is based on the value of the land plus the declared value of any improvements made. If a transaction is made for an amount in excess of this amount, that will automatically increase the value of the property for tax purposes. Payments can be made in three installments: April 30th, August 31st, and December 31st.
Property taxes are graduated depending on the assessed value. Below is a chart showing this breakdown: Value of the property Property Tax Rate US$ 0.00 up to US$ 30K (exempted) 0% US$ 30K up to US$ 50K 1.75% US$ 50K up to US$ 75K 1.95% US$ 75K and above 2.10%
Condominiums, however, use a slightly different formula:
Property Tax Rate for Condos:
Value of the property Property Tax Rate US$ 0.00 up to US$ 30K (exempted) 0% US$ 30K up to US$ 100K 0.75% US$ 100K and above 1.0%
The 20 year exemption on property taxes that was so attractive to investors ended in 2009. That program has been replaced by a revised set of exemptions:
- 15 years Up to US$ 100,000.00
- 10 years From US$ 100,000.00 to US$ 250,000.00
- 5 years Above US$ 250,000.00
- Commercial Use/Non-residential improvements have 10 year exoneration regardless of the property value
Lastly, Panama does have a transfer that is the greater of a) 2% of the total sale price or; b) the declared value of the parcel plus the value of improvements plus 5% for each year the property was owned.
A Brief Note on U.S. Property Taxes – Paradise Is Cheaper!!
While the various property tax schemes throughout these tropical locations may seem confusing, there is one important element to keep in mind: U.S. property taxes are higher!!!
22 of the 50 states have median property taxes in excess of 1%. New Jersey is the highest at 1.89%. When combined with other property-related taxes and fees, the overall cost of property ownership far outstrips most of the Central and South American locations expats desire. In a very real sense, paradise is cheaper and living there is easier now than ever before.
There are special places whose essence is not driven by modern amenities or convenience but, rather, a more primal and rustic style of living. Santa Teresa, Costa Rica – with its ample beaches and fishing village aura – has become one such location for expats seeking a more naturally connected existence.
From high-end developments to rustic beach towns, Costa Rica has a vast selection of real estate options. Places like Santa Teresa, in the southern Nicoya Peninsula, call to those who truly are seeking to embody a “Robinson Crusoe” spirit to find their own secluded ocean hideaway.
Santa Teresa Beach
Santa Teresa, Costa Rica Is an Understated Gem
Santa Teresa, like most of the small fishing villages in the southern part of the Nicoya Peninsula has not yet been caught up in the surge of development and modernization that had predominated much of Costa Rica’s Pacific coast. Linked by a single, unpaved road to Playa del Carmen and terminating at the hamlet of Mal Pais, this region is only now beginning to see signs of expat investment and construction.
From a population of a few hundred, the Santa Teresa-Mal Pais area has grown to a surf-bohemian magnet of 2,000-3,000 full time residents. Some “A “ list personalities, like Mel Gibson and Gisele Bündchen have purchased lots and built homes there; fortunately, the location is still largely pristine and not turned into a high-end tourist mecca.
The entire location is collectively known to locals as “Mal Pais” or “bad country.” The origin for this nickname is not the unpaved conditions of the roads but due to the rivers and streams going dry during the summer months making this a “bad country” for the farmers and ranchers who still live and work in the region.
Ironically, the conditions of the road have become a source of controversy among the residents here. While there are those who think paving would be beneficial in terms of reducing the amount of dust in the village, others are concerned that making access easier could lead to the kind of over-development that has dominated other communities such as Tamarindo.
Much to See and Even More to Experience
There are many opportunities for exploration and recreation in and around Santa Teresa. Whether your tastes are centered around the beach, the ocean or inland, the choices are both plentiful and exciting.
Surfing is, as might be expected, one of the principal activities along the southern Nicoya Peninsula coast. With consistent wave conditions year round, wave riders have made their pilgrimage to Santa Teresa for many years.
There are many surf camps and shops specializing in surfing supplies and board repair in the area. Two of the surf camps – Chica Surf Adventures and Pura Vida Adventures – are for women only; certainly a unique aspect to the traditional surfing lifestyle that expats can immerse themselves in.
In a kind of spiritual contrast to the adrenaline-fueled experience of challenging the surf breaks along Santa Teresa’s beaches, a growing number of yoga retreats have also sprung up. With the natural serenity and unspoiled beauty of the surrounding area, expats seeking the inner peace of quiet meditation can find a most conducive environment here.
Expats can also enjoy the many snorkeling and fishing opportunities found offshore from the village. There are a number of inshore fishing charters that can provide both beginning and veteran anglers the opportunity to land mahi-mahi, dorado, and other denizens of the deep.
Santa Teresa Is Proof that “Life Is a Beach”
The coastline running from Santa Teresa southward to Mal Pais was recently identified by Forbes Magazine as one of the ten most beautiful beaches in the world. With this kind of recommendation, there is little wonder that a growing number of sun and sand aficionados have made the trek to this remote Nicoya Peninsula location to experience the stunning vistas first hand.
Stephanie Rogers
Natural Wonders and Other Land Activities
Not all of Santa Teresa’s attractions are centered around the ocean. The first national park in Costa Rica, Cabo Blanco Absolute Nature Reserve is just a short distance from both Santa Teresa and Mal Pais.
Founded in 1963, in large part due to the efforts of Olaf Wessberg and his wife Karen Mogensen, the reserve has become known for its wide variety of flora, fauna, and over 150 avian species as well.
Another nature park, the Curu Wildlife Refuge, provides a special opportunity to experience a great selection of eco-diversity in a single location. With five distinct eco-systems within the park’s borders, there is a tremendous opportunity to see a wide collection of mammals, birds, reptiles, and amphibian species during a single visit.
Celebrations and Culture
Like so much of Costa Rica, Santa Teresa has a distinct culture and flavor over and beyond that which expats have introduced. One of the charms of the area is being able to immerse oneself in the daily lifestyle of the region and its people.
The sabaneros (Costa Rican cowboys) represent a lifestyle that has been an important part of the Nicoya Peninsula culture. Each February, this lifestyle is celebrated with the arrival of the Fiestas Civicas de Cobano.
This two week event honors the culture and traditions of cattle ranching and the sabaneros who are a part of it. In addition to food, contests, and musical concerts, the major event is the rodeo.
Just like their counterparts in the U.S., the sabaneros compete at various skills like roping and bull riding to demonstrate their prowess. The most unique event, however, is the “rodeo for everyone” that allows anyone who wants to participate to run with the bulls in the ring. This certainly elevates the traditional concept of a rodeo to a new level of spectator sport.
Contemporary Living Is Starting to Arrive in Santa Teresa
While locals and many of the early expats are not happy about it, progress is starting to make inroads in the Santa Teresa-Mal Pais locality. The last decade of increased tourist activity has spawned a number of new development projects and resorts.
Luxury resort type hotels and gourmet restaurants are beginning to appear side by side with yoga retreats and surf camps. Along with this tourist-driven growth, a number of residential projects ranging from single family villas to gated communities are in the planning stages.
Santa Teresa’s challenge in the coming years will be to maintain its ambiance as a place where it’s still possible to reconnect with nature without modern distractions. Even as more attention is being given to the region, the idealism of those who became disenchanted with life in Europe and the U.S. during the recession is a strong force to keeping that pura vida vision alive.
Santa Teresa
Challenges of Living in a Rustic Environment
While living in a small bohemian style hamlet may seem like “paradise” found, there are several important aspects that should be taken under advisement. Certain elements of daily contemporary life in the U.S., Canada, and Europe may be found wanting in Santa Teresa and could turn the romantic idyll into something far less attractive.
Getting There Isn’t Half the Fun
The allure of living in a place without a paved road has a serious downside. A four-wheel drive vehicle is almost a necessity as visitors have to deal with jarring potholes during the dry season and a veritable sea of mud during rainy season. Needless to say, vehicle maintenance costs should also be considered as well as access to mechanical services.
There isn’t any fast way of getting to Santa Teresa from either San Jose or Liberia-the location of the two international airports in Costa Rica. The drive from San Jose to Santa Teresa is roughly six hours whether by bus or car; from Liberia the time is slightly less-in the four to five hour range.
While there are no direct flights to Santa Teresa, the two domestic carriers, Sansa Air and Nature Air, do offer flights to nearby Tambor Airport. Once there, visitors can expect a forty minute taxi ride to get to the village; the cost is in the neighborhood of $50.00.
Getting Your Point Across – the Language Issue
As is the case with many small and/or remote communities in Costa Rica, the predominant language for everyday transactions is Spanish. With such a small expat population, finding an English speaker can be somewhat confounding.
While some people may embrace learning a new language, the prospect of not being able to express oneself – or understand what others are saying to you – may be a difficult hurdle to surmount.
Bohemian and Rustic Are Definitely the Themes
There are limited modern amenities in the Santa Teresa-Mal Pais area. For most of the 20th century, such common items as cars, telephones, and refrigerators were practically unheard of.
As might be expected in such a small community, options for shopping for basics like groceries are going to be limited. Higher-end items such as appliances, computers and televisions, and vehicles will require a journey to San Jose, Liberia or Tamarindo. Balancing a life less scripted on one hand with the conveniences of being able to obtain needed or wanted items on the other is an important question that a potential expat needs to examine carefully.
Electricity did not become available in this end of the Nicoya Peninsula until the mid-1990s. The first street light wasn’t installed until 1993 and telephone service didn’t become truly accessible until the late 1990s.
While there is slow improvement (high speed internet access is now available for example), the area is still largely an undeveloped, unpaved paradise. If truly “living off the grid” is not something of interest to you, serious thought should be given before making Santa Teresa, Costa Rica your tropical “landing pad.”
Map of Santa Teresa, Costa Rica
Santa Teresa, Costa Rica Fast Facts
- Population: Numbers are hard to find, but a good guesstimate is 1,200
- Typical temperature: Mid 80’s
- Nearest airport with U.S. flights: San Jose
- Nearest U.S. consulate: San Jose
For years, the funky beach community of Montezuma, Costa Rica was a little known retreat that was a hideaway for hippies and backpackers looking to find “pura vida.” Today, the word is out and Montezuma is becoming a desirable location for expats seeking a true “barefoot” lifestyle.
Montezuma Beach
In a country filled with stunning beaches, the sands of the southern part of the Nicoya Peninsula have to rank high on anyone’s list. Montezuma’s untouched sands have an almost lyrical quality about them that is both magnetic and compelling.
Montezuma’s Early Years
Like most of the Nicoya Peninsula, the area we now know as Montezuma was under the control of the Chorotega tribe in the pre-Columbian era. Following the Spanish Conquest in 1519-20, the surviving members of the tribe moved into the southern part of the Peninsula to escape the Spanish rule.
Throughout the 17th century and well into the middle of the 18th century, Montezuma remained a collection of small fishing villages. Given the geography, (steep slopes, limited outside access), the area wasn’t suitable for the growing ranching and cattle raising business that began to flourish in the central part of the Nicoya Peninsula.
In the early 1950s, Montezuma was designated as the location for a regional port as a result of the calm waters and abundant beach access. This dream would not be fully realized, however, until 1979 when a road was completed from Cobano that expanded operations to include transporting agricultural goods to Punteranas and the fast developing Central Valley.
Montezuma Main Street
The Transformation of Montezuma, Costa Rica
While a small number of expats had purchased land in the area in the latter part of the 20th century, Montezuma’s popularity did not truly begin to take off until 1992 when ferry service began from Punteranas to the communities of Playa Naranjo and Paquera. The new ferry route opened the southern part of the Peninsula to vehicle traffic and, with it, opened the flood gates for a new wave of settlers to the region.
Montezuma found itself transformed from a quiet fishing village to a unique destination in its own right. European expats make up the great majority of those seeking the bohemian vibe of the village but North Americans are catching up fast.
Montezuma Today
From small tribal settlements to an agricultural port, Montezuma has metamorphosed into a unique gathering of artistic types, old (and not so old) hippies, surf fanatics, and nature lovers. The permanent population has remained small (around 500 people) and the economy is centered around eco-tourism and bohemian escapism.
Importantly, prices in Montezuma have remained very modest, making it an ideal location for those seeking to drop out of the rat race of 21st century life without having to spend the proverbial arm-and-a-leg. The welcoming laid-back atmosphere and open air lifestyle are unique, not only in Costa Rica, but throughout much of the world.
Montezuma Falls
Many Reasons to Visit Montezuma, Costa Rica
Montezuma is special in that its location offers a wide variety of diverse ecosystems for visitors and expats to experience and enjoy. Having a chance to immerse oneself in the natural beauty of the region as well as the cultural experience of a true Costa Rican small town can make for a life-changing experience.
Waterfalls, Rivers, and Beaches
One of the most special features in Montezuma, not found in other beach communities, are the renowned Montezuma Waterfalls. Located within walking distance of the town, visitors to the falls can play in the pool at the bottom, enjoy a picnic lunch, or follow a jungle trail to hike to the top of the falls.
There are eight different beaches as well as a half dozen rivers and streams in the area. Whether cooling off in the fresh water of a jungle stream or sunning on pristine sands by the ocean, visitors can find themselves entranced by the peacefulness of the natural settings.
Yoga Camps and Alternative Healing
Montezuma has gained a reputation for its yoga and meditation camps as well as a growing number of holistic and alternative healing centers. Meditation services (often offered at some of the hotels), organic foods, and alternative practitioners are a special part of the eclectic atmosphere of the village.
Nature’s Wonderland
Two of Costa Rica’s premier nature preserves, Cabo Blanco (Costa Rica’s oldest national park) and the Curu Wildlife Refuge, are within easy reach of the town. There you can have the rare privilege of seeing the wide variety of birds, mammals, reptiles, and amphibians that call Costa Rica home.
Montezuma Gardens, located along the waterfall trail, features a butterfly garden, as well as a display of the flora of the peninsula. Learning about the lifecycle and seeing different varieties of these delicate winged creatures provides a different avenue into the world of nature.
Tortuga Island tours are available from the village and offer the opportunity to swim, snorkel the volcanic reef, or just enjoy the island’s beauty. Another island, San Lucas, site of Costa Rica’s first prison, also has tours available. Now closed, legend has it that the ruins are haunted by those once held there.
Food and Drink
Montezuma has had a reputation as a mellow party town with its collection of musicians, artists, and others who heard the beat of a different drum. A number of bars and restaurants are clustered in the center of the village and are open late.
Chico’s Bar is considered by both locals and visitors as ground zero for the party. Being in the middle of town, guests can hang out in the street or enjoy a more serene setting on the beach in back.
For a small place, there is a truly diverse selection of cuisines in Montezuma. Italian, Mediterranean, Organic, Tipico (Costa Rican), Middle Eastern, Seafood, and Fusion can all be found there, appealing to every taste.
Festivals and Celebrations
The Montezuma International Film Festival is held each November. Focused on the efforts of independent filmmakers from around the globe, this venue provides a chance for the “Spielbergs” of the future to showcase their talents and enjoy the funky artistic vibe of the area.
The Festival de Arte Chunches de Mar held in January brings together musicians, artists, and craftspeople who create, perform, and camp on the beach for a month. In a real sense, this annual arts and music celebration has much of the same vibe as the original Woodstock concert, actually billed as the Woodstock Music & Arts Fair.
Making Montezuma the Place for a Permanent Vacation
Expats are discovering that this little piece of backpacking paradise might be the answer to finding a spot for a “permanent vacation.” Montezuma, Costa Rica and the surrounding communities in the southern Nicoya Peninsula offer a wide range of real estate choices from quaint and offbeat eco-structures to luxury villas. The affordability of undeveloped lots makes building your own “escape pod” a viable option as well.
Great Cost of Living
Things are simply less expensive in Montezuma than many other beach towns in the country. The commitment to a more natural lifestyle has made the availability of locally made and grown products one of the attractions of living there.
Being able to get to most places on foot or by bike means transportation costs are greatly reduced. The ferry to Punteranas is an inexpensive way of connecting to the rest of the country and the excellent public bus system that operates throughout the region.
Property costs are also on the lower end of the scale. It is not necessary to have huge sums to purchase your piece of paradise.
A Chance to Reconnect with Life
Perhaps the most attractive feature of expat life in Montezuma is the pace of living itself. There are a large number of alternative health and yoga retreats to provide a more holistic approach to living in a pura vida way.
Dylan D.
Even Paradise Has Things to Consider
For all the special qualities of the Montezuma, Costa Rica area, there are a number of concerns that can impact a decision to visit or relocate there. Even paradise has some bumpy roads.
First, and foremost is the fact that the area is difficult to access. With no international airport nearby, visitors would have to fly into Liberia or San Jose and make their way from those points. There are two domestic carriers that fly to nearby Tambor Airport but, from there, a cab ride is still needed to reach Montezuma.
One of the major drawing cards of Montezuma is its rustic ambiance. For visitors seeking an all-inclusive or higher-end hotel, there simply aren’t any in the village. If being pampered is a prerequisite for your vacation, Montezuma is probably not for you. Similarly, if having the kind of access one would find in a more urbanized setting is a necessity for your tropical paradise, this relaxed community may not be the best fit.
As with other small towns and villages in Costa Rica, much, if not all daily business is conducted in Spanish. For some, the language barrier could be an insurmountable obstacle to making the location a new home.
In the end, the question that should be asked before making the trek to Montezuma is whether an eclectic beach town, in an out-of-the-way location, is the idyll that you’ve been looking for. Answer that question, and the path becomes clear.
Map of Montezuma, Costa Rica
Lake Montezuma, Costa Rica Fast Facts
- Population: Aprox. 500
- Typical temperature: Average temperature 84 to 90°F
- Nearest airport with U.S. flights: San Jose’s Juan Santamaría International Airport
- Nearest U.S. consulate: San Jose, Costa Rica
Pavones, Costa Rica has been and always will be a haven for surfers from all across the globe. But this destination, once considered the “end of the road” in Costa Rica, is literally riding a wave of promise in terms of investment potential and expat desirability.
pavonessurf
The Casual Appeal of Present-Day Pavones, Costa Rica
Life in Pavones de Golfito encompasses the best of rustic Costa Rica. This tropical beachside paradise on the south Pacific coast serves as the perfect backdrop for peaceful living accompanied by some of the world’s best surfing. Given its remote location in Golfo Dulce-Pavon Bay, close to the border with Panama, surfing aficionados will find a quiet beach community to unplug while surrounded by the nearby Conte Burica rainforest reservation.
Bonus: Check out thousands of Homes for Sale in Costa Rica
Built around a town center of just one square block, this is the perfect surfing town for those seeking a beachside escape. The beaches in Pavones are considered some of the most spectacular beaches in the country with their distinct black shoreline, green ocean water, unusual rock formations, and the lushness of the surrounding jungle vegetation.
With only a handful of local businesses including two small markets, a hardware store, several restaurants, one beachside bar, and three internet cafes, the town offers visitors the opportunity to relax and meditate while absorbing the pura vida lifestyle of tropical Costa Rica. It also offers a wealth of investment opportunities for those interested in the tourism sector.
There’s More to Do There Than Surf
You can’t talk about things to do in Pavones, Costa Rica without starting and ending with surfing. It is, after all, the home of the second largest left break in the world, which forms a legendary wave that spans approximately two kilometers and allow surfers to ride for 2 to 3 minutes.
These astonishing swells attract surfers from around the world in March and April when surfing conditions are at their prime. Due to the size of the waves, however, this is not a recommended surfing site for beginners. For easier and less crowded options, surfers can also take their boards south of Pavones to Punta Banco or Punta Burica.
Other hobbies enjoyed by Pavones residents and expats include stand-up paddle boarding, kite surfing, as well as whale and dolphin watching. You can take a horseback ride to the Indian reservation “La Hierba” or nearby Langostino Beach or go snorkeling in the Rio Coto. Yoga is also a popular pastime with several yoga centers and retreat centers in town.
The slow growth in Pavones has most certainly, at least in part, been the result of the difficulties in accessing this beachside retreat. But access to Pavones continues to improve. It’s a rather long (seven hours) drive from San Jose on mostly unpaved roads. However, the area is seeing more and more pavement to help bridge that gap as the years go by.
A much faster option is to take the one-hour flight to Golfito from San Jose, followed by a two-hour bus or tax ride on to Pavones. Such transportation is frequent and relatively affordable, making accessing Pavones from the rest of the country easier than ever. It’s also more connected in terms of technology with high speed internet now available in most areas.
J. Wolfe
The Landscape of Pavones, Costa Rica
While the road to Pavones may be long, it certainly isn’t lacking in natural beauty. The roads are lined with tropical flora such as lilies, hibiscus, and birds of paradise. These are set into a dense backdrop of tropical greenery which contrasts nicely with the town’s dark gray sand beaches.
During low tide, the receding waters uncover piles of rocks and shells that are great for climbing and exploring. Pavones is also a great place to see a number of species of birds, such as parrots, toucans, and scarlet macaws. Wild horses and turkeys (pavos) also abound in the area.
Pavones is a great destination year-round. But its appeal is definitely different during each of the two main seasons. As the weather in Pavones makes it a bit two-sided. The peak of high season for the town is in March and April when the surfing is at its best. These fall during the dry, sunny season (roughly December to April) where hardly a drop of rain may fall.
By contrast, the months of May through November are cooler with more rainfall, starting with the occasional afternoon shower and becoming what can turn into days or even weeks of constant downpours as the season progresses.
As a result, Pavones is perfect for the active, beach-loving expat for most of the year. During the months of heavy rain, it’s a great place to relax, recharge, and connect with nature.
A. Roberts
The Future of Pavones, Costa Rica Real Estate
After decades of buzz from only surfing aficionados and tourists, signs are pointing to a renewed interest in Pavones real estate. Within recent years, several large tracts of land have been purchased by investors and developers, which is a great indication of things to come.
Already a number of modern homes have been constructed. Hotels have undergone renovations and upgrades. As a result, their occupancy has increased. And it’s generally true that when more and more visitors begin to frequent a destination, undoubtedly a growing number of them will decide to stay.
As a result of the renewed interest in Pavones, it has the potential to be a rather profitable venture for those wishing to live or invest in the area. While land prices are relatively low, savvy buyers can still score a great deal on prime real estate that they could later sell to a developer or develop themselves.
It’s also a great opportunity to buy tropical real estate to build your dream home in a few years from now, once the influx of tourists and residents to Pavones has resulted in even more improved infrastructure and amenities.
Waugh
The Wave Will Always Be There
One thing that’s true of Pavones, Costa Rica is that, while the attractions of other hotspots may ebb and flow in their popularity, the world-class surfing is here to stay. No matter how fast or slow development moves along in Pavones, the wave that first attracted people to the area will continue to do so for years to come.
Map of Pavones, Costa Rica
Pavones, Costa Rica Fast Facts
- Population: About 2,500 in the area
- Typical temperature: 89 degrees Fahrenheit
- Nearest airport with U.S. flights: San Jose, Costa Rica
- Nearest U.S. consulate: San Jose, Costa Rica
Can you count on one hand (or with only one finger) the number of relaxing days when you’ve spent time alone this year? Are you at peace with your relationships? How would you score your creativity and peace of mind?
If you didn’t like your answers, you are not alone, literally! You are likely suffering from lack of solitude. Find a quiet place, free of distraction, and read this article. I’m going to explain why time alone can change your life.
Pete
The Power of Solitude: Why you need to spend time alone
Psychologists have diagnosed our technology-driven society “terminally out of touch.” Studies suggest that we’re not spending enough time alone–thinking, feeling, sensing, and observing our inner being. As a result, our personal relationships, our mental and physical health, our social skills and cognitive functions are all ailing. If we spend more time alone, psychologists contend, we can drastically improve and enhance all of these areas of our lives.
You may be thinking, “Wait a minute, if I’m isolated and lonely, I’ll feel worse, not better!” If that’s the case, you should read on to better your understanding of exactly what solitude means.
What solitude is (and is not)
Isolation is not the same as solitude. Likewise, alone is not the same as lonely. When you are lonely, you feel a void inside, unhappy. In contrast, when you are in solitude, you feel content and happy. Maybe it’s on your own private island or in a bustling city. But rest assured, you can find it.
“Solitude” does not imply you have to camp in the wilderness for days all by yourself. It’s true you can create space to be alone, in the company of others. Just stop doing for others and focus solely on yourself for a period of time. Voila! You’re on your way.
Solitude can cure what ails you
“Tidal pools, empty fields, mountains, trees, and oceans evoke peace and contentment. Something sacred fills these open spaces,” says Psychologist Ester Buckholz, in The Call of Solitude, Psychology Today. “Meaningful solitude allows you to connect with others in a far richer way.” Meaningful alone time, she says, “is a powerful need and a necessary tonic in today’s rapid-fire world.”
Are you ever irritable, but don’t know why? Next time you feel that way, take quiet time out to focus on your inner thoughts, feelings, physical sensations. You may be surprised what your insights reveal.
As you become more self-aware, you will become more curious and creative. When you find yourself in conflict with your spouse, friends, co-workers, or family, take time alone to reflect and contemplate. A few minutes of solitude can provide plenty of answers for what ails you.
Bronwyn May
Solitude is like a vacation.
Put work aside and make time to discover, relax, and recharge. Be creative and engage in activities that make you happy. “I’ve learned to create little islands of solitude in my daily life,” writes Kendra Kennison in her Oprah.com article, “Why You Must Have Time Alone.” The search for solitude leads to new experiences. Have you ever been on vacation some place that you didn’t want to leave?
Vacation time has inspired many people to purchase a second home in their favorite vacation spot, or to move there full time, searching for a place to escape–searching for a simpler life from the hectic world they live in. “A big part of being fulfilled and happy is in the choices you make. One of those decisions is where you spend your time,” says Josh Linnes, Co-Founder, VivaTropical.com.
Stepping out of society is good for the soul.
Are you feeling the need to escape from your frenzied world? If so, you have a lot in common with most of our society today. The time you spend “wired” to others has most likely increased. Your outdoor time, and alone time, have probably decreased. I’m willing to bet your modern life has most definitely become more complicated.
Once you learn to enjoy purposeful solitude you will experience cognitive benefits, like enhanced focus, memory, creativity, and concentration. Some studies suggest that time alone can result in lower rates of depression and increased self-esteem.
Craig Sefton
Where you can find it.
As you can see, finding solitude is more about your state of mind, not your actual physical location. Although a change of venue, particularly to someplace quieter where you can be in tune with nature, can certainly help. Here are some examples of where you can find solitude:
- In a crowd. Take an art walk through the city by yourself.
- With your spouse. Reflect, imagine, contemplate–while your spouse reads a book.
- At the computer. Research a new interest. Seek inspiration and knowledge.
- In creativity. Draw, paint, sketch, write, learn a new language, a new instrument.
- In travel. A local destination, Panama, Costa Rica, Belize? Go relax, recharge.
- In nature. Pull up a rock, stick your feet in the water, and listen to the unique sounds.
- If all else fails, you can always buy an island.
Hopefully these ideas will inspire you to find your own place of solitude. For business partners Park and Josh, their quest for solitude was a little bit more radical. Disgruntled with life in the U.S., they left it all behind. With families in tow, they set out to find a fortress of solitude in Latin America, and ended up buying an island. They can tell you precisely Why Island Living Isn’t Right for You (Or Is It?).
Certain that there might be other like-minded individuals who were searching for the same opportunity to slow down and get back to the basics, Josh and Park began working on their Adventure Colony concept. “Adventure Colonies are meant to be an escape from the rat race and encourage new, daily routines. Simplify your life, increase your relationship with the outdoors, and recharge your mind and body.”
If you feel the need to escape, relax, recharge, you might want to carve out a regular place you call home. Download our book to read more about Adventure Colony. It’s free.
Find your own fortress of solitude.
Heredia, Costa Rica has a unique combination of a rich historical past, relaxed country-style living, and the convenience of a Central Valley location. As one of the most desirable destinations for expats and investors in the country, Heredia has a great potential for return on initial investments with the amenities of a modern, developed community.
With so many options available, Costa Rica continues to be a prime expat destination. Heredia is one such location that can satisfy the desire for a less hectic existence without sacrificing modern conveniences.
Samuel Anugual School
Heredia’s Historical Roots
Long before the Spanish arrived, the area in what is now present-day Heredia was occupied by the indigenous Huetares led by a prominent chieftain, Garabito. Throughout much of middle 1500s, Garabito contested the area with the Spanish and today is viewed as one of the best known tribal leaders in Costa Rica.
In 1706, Spanish settlers established a church known locally as Alvillria. A decade later, this small settlement was moved north to a location known by the Huetare name of Cubujuqui. The community continued to grow and in 1763, was given the status of “villa” and renamed Heredia in honor of the president of the Audiencia of Guatemala, don Alonso Fernández de Heredia.
Following independence from Spain in 1821, Heredia along with Cartago decided to become part of the new Mexican government while the other two major cities, Alajuela and San Jose wanted to be independent. A short civil war resulted in a four year rotating capital city arrangement.
As a result, Heredia became Costa Rica’s capital in 1835 until the arrangement was rescinded some years later.
City of Flowers
Heredia’s nickname is the “City of Flowers.” The lush gardens and wide variety of stunning flora in the area are said to be the inspiration for the name.
There is a second version that states that the correct nickname is actually the “City of Flores” after a prominent political and social family who lived there in the 19th century. A third, and more romantic origin, is that the city’s name comes from the beauty of its women.
Mario André Cordero Alfaro
Heredia Today
Heredia has become an important hub in the vibrant Costa Rican economy. A number of technology companies have made their home in the area, adding to the prospect of growth in the future.
Additionally, Heredia is also the location of the National University and several Spanish language institutes. The combination of instruction and immersion in Costa Rican culture holds tremendous potential for the future of the region and the country as a whole.
Tico Timess
What Makes Heredia, Costa Rica a Great Investment
Heredia has some unique qualities that enhance its desirability as an investment location. Expats have long known that this Central Valley gem has an intrinsic value as well as a great potential for a positive return on their initial expenditures. Here are some of the highlights:
Reasonable Cost of Living
The cost of basic utilities in Heredia compares favorably with other Central Valley communities. The range for electricity, water, garbage, and internet/cable is a reasonable $104 to $120. Importantly, more moderate temperatures means not having to use air conditioning (a major factor in electricity costs) as much.
Being located just ten kilometers from San Jose, Heredia has a wide variety of properties for sale or rent. The choices can range from small “tico style” houses to modern condominiums to luxurious single family mansions.
The amount needed to rent or purchase is a direct reflection of the location (city center versus more rural), type of property (single family or multi-unit) and amenities included. Locations further away from the major metropolitan area are more economical than those closer to the major centers of Escazu and San Jose.
It’s All About Location
Heredia is, literally, in the heart of the action in the Central Valley. Close to the major metropolitan areas of San Jose, Escazu and Alajuela, shopping and entertainment are within easy reach.
Located in the foothills of the now-extinct Barva Volcano, Heredia still retains its essence as a quiet community whose pace of life is not as hectic as its larger neighbors.
Close and Convenient
The Juan Santamaria International Airport is less than a half an hour drive away, making Heredia an easy destination for travelers from the U.S., Canada, and Europe. Rental cars, private shuttles, and public buses are both inexpensive and plentiful.
Heredia is also close to several of the most popular tourist locations in the country. The Arenal and Poas National Parks are home to two of the most stunning and most visited volcanoes in Costa Rica.
There are several coffee plantations located in the Heredia area offering tours and tastings. Various celebrations and the weekend farmer’s markets provide a unique opportunity to experience life the “pura vida” way.
Though not close to the beach, Heredia’s proximity to the airport makes flying to one of the beachfront communities along the Pacific an easy option. Both Sansa Air and Nature Air offer domestic flights to beachfront destinations like Nosara and Tamarindo.
Central Valley
Great Climate
The weather in Heredia is one of its most desirable features. With temperatures in the 75-80 degree range, the need for constant air conditioning is greatly reduced; a real benefit on the budget as well.
Language Is Not a Barrier
One of the most attractive features of Heredia (and the Central Valley in general) is the large expat community that lives in the area. While having some knowledge of Spanish is always useful, there are abundant English speakers in the area, making daily living that much less of a challenge.
Making the Most of the Money
Heredia, Costa Rica holds a great potential as a source of rental income for those who aren’t quite ready to make Costa Rica their full-time residence. Tourists and vacationers will find the Central Valley location, ease of airport access, and proximity to modern amenities a desirable alternative to staying in a hotel. With the growing number of internet-based resources, gaining a strong return on the initial investment is easier than ever.
Map of Heredia, Costa Rica
Hererdia, Costa Rica Fast Facts
- Population: 13,500
- Typical temperature: 70 degrees Fahrenheit
- Nearest airport with U.S. flights: San Jose, Costa Rica
- Nearest U.S. consulate: San Jose, Costa Rica
Viva Tropical Radio
Josh and Park have experienced many different colorful situations over the years while scouting out real estate investments. Join them today for a podcast recount as murder confessions, 300 lb. tunas, and 9mm Berettas all make appearances when they retell some of their stories from the road.
Maybe the greatest job in the world, Park and Josh reminisce about some of their most memorable days while exploring the far reaches of Central America in their search for the best real estate can offer.
In this episode, we discuss:
- How to get the right boat for scouting
- Why bodyguards make fun scouts
- Where you can reel in a 300 lb. tuna
And much more.
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The Show Notes
- Get Paydirt here
- Watch Josh and Park get pulled out of the mud by a horse
- Park and his tuna
Los Suenos, Costa Rica has become the premier destination in the Central Pacific region. Combining the top-rated marina in Costa Rica with quality resort living and amenities, Los Suenos is the epitome of what Pura Vida (pure life) truly is all about.
B. Burns
Building a Dream – The History of Los Suenos, Costa Rica
In 1991, developer William Royster purchased 1,100 acres of land overlooking Herradura Bay that ultimately would become the Resort and Marina at Los Suenos. Like many potential investors and expats, Royster envisioned the economic potential of real estate in Costa Rica.
After six years of planning, construction began in 1997 with the hotel, golf course, and the first of 800 planned residences that opened just before 2000. The Marina was opened to the public in 2001 with the completion of 200 slips and 80 dry units finished in 2003.
Marina at Los Suenos, Costa Rica
Marina at Los Suenos
Marina at Los Suenos
The Marina at Los Suenos – One of a Kind
The Marina at Los Suenos, Costa Rica has become known for its world-class facilities and ready access to some of the best deep sea fishing grounds in the world. The Marina Village commercial center and the 450 residence units make the Marina a must-see destination for hard core sport fishers and tourists alike.
Living and Playing at the Resort at Los Suenos, Costa Rica
Los Suenos provides a lifestyle second to none. Accommodations with stunning ocean, jungle and golf course views, shops, bars and restaurants, and the two acre, three million dollar beach club, take luxury resort living to the next level.
Los Suenos Residences
Los Suenos Natural Tunnel
Championship Golf with a Natural Twist
The 18 hole championship caliber La Iguana Eco Golf Course is a unique blend of sport and nature. Designed by Ted Robinson, Jr. this par 72 course will prove a challenge for beginners and experts alike.
The 6,700 yard course plays into the lush tropical rainforest and back to Herradura Bay. The “gallery” of howler monkeys, sloths, and scarlet macaws transform a round of golf from a game to an adventure.
Los Suenos Golf
Los Suenos Marriott Ocean & Golf Resort – Luxury and Relaxation
Opened in 1999 with 191 rooms and 10 suites, this fully-appointed luxury hotel is a central part of the Los Suenos Costa Rica resort experience. The top shelf amenities, including the casino, bars, and the Sibo Rainforest Spa and Retreat are available to all resort guests.
The Marriott Resort
Experience Costa Rica at Los Suenos Resort
There are numerous tours and adventures that can be arranged from the resort to satisfy every taste. For those who hear the call of the sea, there are many deep sea fishing charters and whale watching tours (in season) available at the Marina that can give you the chance to hook “the big one.”
If nature and birdwatching is your cup of tea, tours of the nearby Carara National Park and Manuel Antonio National Park are just a short car ride away. To get up close and personal, the Mangrove Monkey Tour will let you visit the playful whiteface monkeys on their turf and terms.
Mangrove Monkey Tour
Partying at the Beach
Jaco, Costa Rica, long a favorite spot for surfers and beach lovers is just a 10 minute drive from Los Suenos, Costa Rica. This funky beach town is truly a blend of “Key West meets Pura Vida” with bars, restaurants, gift shops, stores, and great places to people watch.
Playa Hermosa, roughly five minutes from Jaco, hosts surfing competitions almost every weekend. For something different, this is a great place to watch the competitors “hang ten” while sipping your favorite beverage at one of the many bars along the beach.
Getting There Is Easier Than Ever
In 2010 the long awaited National Highway CR-27, known as the Carretera Prospero Fernandez from San Jose to Caldera opened, reducing the drive from San Jose to Los Suenos to a very manageable one hour. Taxis, shuttles, limos, and rental cars provide a variety of options to transport you to this luxurious tropical oasis.
Los Suenos-Herradura Bay
Renting, Buying and Living in Los Suenos, Costa Rica
Los Suenos, Costa Rica and the surrounding area has many options for investors or expats who are looking to buy or rent a piece of tropical paradise. The Resort proper is a gated community that does have a constant flow of hotel guests and day trippers coming to the marina, to play golf, or to enjoy the many options that are available.
Most of the residential units at the resort or in the immediate vicinity start in the $150,000 range but can go into the millions. While much of the area is developed, there are still lots available near the resort proper and in the surrounding communities.
What Does It Cost to Live in Los Suenos, Costa Rica?
The cost of living in the Los Suenos, Costa Rica area largely depends on how upscale you wish to go. Rentals can average from $350 to $1,115 per month depending on number of bedrooms and proximity to central locations. On the resort property itself, rents routinely run between $2,000 to $3,000 per month.
Utilities (electric, water, internet, telephone, cable) can be as low as $49 per month to as much as $350 per month. Again, this depends on your usage (think running a/c constantly) and choice of packages.
There are some items, such as computers or other high-end electronics that aren’t as easy to come by in Costa Rica. However the greater San Jose area has many “Americanized” stores, such as Walmart, that are only an hour away.
Buying a Residence in Los Suenos, Costa Rica
The residential units in the Los Suenos resort proper are condominiums and are generally priced per square meter. Prices routinely run in the $400,000 range although prices but can go much higher depending on number of bedrooms, furnishings, and size.
The units are part of individual gated communities that share the common roadways with the Marriott Hotel and Resort. There is ample security and landscaping throughout the property
Los Suenos May Not Fit Everyone’s Tropical Dream
For all of its features, Los Suenos may not fit the ideal of your rustic tropical escape. With its modern amenities, Los Suenos is definitely mainstream Central America and not a secluded paradise.
For the budget conscious, Los Suenos is definitely a more expensive option than other areas of Costa Rica.
Many people enjoy the “resort experience” and Los Suenos and the Marriott certainly deliver it. However, if the allure of a small Costa Rican village or town is what you desire, Los Suenos is probably not for you.
Lastly, Los Suenos is a gated community. For those seeking to immerse themselves in local lifestyle and culture, this atmosphere may seem constricting.
What Does an Expat Need to Know About Living in Costa Rica?
Whether you are retiring, investing, or deciding to see what Costa Rica has to offer, there are some basics that every expat needs to keep in mind. First, and foremost, things move more casually here than in the U.S.; the phrase “tico time” is important to remember when making any schedules.
Unless you are planning on applying for residency under one of the categories, you will be required to leave Costa Rica every ninety days for at least 24 hours. Keep that timeframe in mind as you pursue your tropical dream.
Learning the language, while not essential, is something every expat should try and accomplish. Being able to understand what is being said on a daily basis will make your Pura Vida experience that much more enjoyable.
Los Suenos, Costa Rica – A Model Investment
The success of the Los Suenos Resort and Marina complex is a prime example of the potential of real estate investment in Costa Rica and Central America as a whole. The undeveloped land that William Royster purchased in 1991 has increased in value many times over and will continue to do so into the future.
The key to succeeding in this kind of venture is to develop a cohesive plan and partner with individuals who have both the knowledge and expertise to bring those plans to fruition. Identifying the paths to progress, such as finding the location best suited to enhance the project, is crucial to making your concept the success you envision.
A True Return on Investment
The increase in property values in Costa Rica has soared over time. A recent listing for a 200 hectare (494 acres) parcel with views of the bay at Los Suenos had a sale price of $13,000,000. If Royster were trying to purchase his 1100 undeveloped acres today, it would cost just under $30,000,000 dollars.
This kind of investment potential, along with the many other attractive features of Costa Rica (business friendly environment, low taxes, good infrastructure) cannot be ignored. If the prospect of owning and developing your own piece of “pura vida” is exciting, there’s no time like the present to begin your search.
Building Your Own Investment Plan
William Royster discovered the location for what would ultimately become the Resort at Los Suenos, Costa Rica while sailing the Pacific. The lesson here is to explore areas that appeal to you and see if there is one where you can envision your project coming to life.
Deciding what kind of investment you want to make is just as important as the location. Are you thinking of building a Costa Rican hideaway, a small development, or a major commercial enterprise? Framing your intentions is an essential step in bringing your plan to life.
Doing your research also means establishing a realistic budget and time frame. Rome wasn’t built in a day and making your Costa Rican dream a reality should be a long-term goal rather than a short-term sprint.
So When Is the Best Time to Build Your Dream?
Costa Rica continues to be a prime location for expats, investors, tourists, and business. So when is the best time to build your Pura Vida dream? The answer is simple: Now!!
Map of Los Suenos, Costa Rica
Los Suenos, Costa Rica Fast Facts
- Population: Approximately 10,000 when including local villages
- Typical temperature: average maximum temperature is 32℃ / 90℉
- Nearest airport with U.S. flights: San Jose, Costa Rica
- Nearest U.S. consulate: San Jose, Costa Rica