Crucita, Ecuador has the reputation as one of the top spots in the world for paragliding and hang gliding. The pristine beaches and largely undeveloped area are rapidly become a magnet for expats and investors seeking that unique blend of adventure and potential.
Corinne
Crucita, Ecuador – From Fishing Village to Adrenaline Central
The area known today as Crucita, Ecuador is an attractive beachfront town in Manabi Province of Ecuador. Located 40 km (25 miles) from the port city of Manta and 28 km (17 miles) from the province capital of Portoviejo, Crucita has become the most visited beach destination in Ecuador.
Crucita, Ecuador’s Beginnings
The Pacific coast in and around Crucita, Ecuador has been occupied since pre-Columbian times by the ancient Manta people. In 1895, the Bishop of Manabi, Peter Schumacher, erected a cross at the local church as part of the celebration of the month of the Virgin Mary (May) and the Holy Cross. From that point on, the location has been known as “Crucita” (little cross).
On May 25, 1978, Crucita Portoviejo was designated as an urban parish. Although small (current population is around 12,000), Crucita will continue to expand as sports enthusiasts, expats, and investors are drawn by the opportunities in real estate that await there.
Crucita – Adrenaline Central
Paragliding and hang gliding enthusiasts have discovered that Crucita, Ecuador has near-perfect conditions for these extreme sports. The miles of open beaches, constant Pacific breezes, and hostels and lodges catering to “gliders” have given Crucita worldwide exposure as the place where you can truly “spread your wings”.
Ministry of Ecuadorian Government
Crucita, Ecuador and Jaco, Costa Rica – A Tale of Two Cities
Comparing Crucita, Ecuador and another popular Central American beach location, Jaco, Costa Rica, can provide a glimpse of the future potential that awaits there. The similarities between the two communities are striking and the pathway for growth in Crucita follows a similar arc to its more developed neighbor.
Prior to the late 1970s, Jaco was little more than a fishing village. With improvements to local infrastructure (water system 1976, highway access 1978, improved electrical system 1981), Jaco began to see a real surge in development.
At the same time as Jaco was growing, surfing enthusiasts discovered the white water and challenging waves that are a regular feature in and around the Jaco area. Before long, the region became known worldwide as a surfing mecca with weekly contests, festivals, and year-round celebrations of “the endless summer.”
Improvements in Infrastructure, Enhancement in Potential
Where Jaco became a surfing magnet, Crucita, Ecuador has become a world famous destination for the high-energy and altitude sports of paragliding and hang gliding. While both rely on wind and weather, hang gliding is the older of the two styles, (hang gliding 1960s, paragliding started in Europe in the mid-80s) uses a heavier “wing,” and can be more of a challenge to transport on air carriers.
Crucita, Ecuador is also seeing infrastructure improvement that makes living in this Pacific location much easier. The latest project is a four-lane highway from the province capital, Portoviejo, which will reduce travel time and improve access; the highway between the international port of Manta and Crucita has also been rebuilt.
The increasing interest in the area is also leading to upgrades in electricity, municipal services, and better internet and cable television. A long-term tourism project, known locally as Balsamaragua, is also expected to enhance the desirability of Crucita as a destination and investment location.
What Does It Cost to Live in Crucita, Ecuador?
One question that potential expats or investors need answered is what is the cost of living in Crucita, Ecuador? Like much of the rest of the country, the prices for such items as food, utilities, and rent is more affordable than in many Central American locations.
Averages for rent in Ecuador can run from $250 per month outside major centers to $1000 per month in larger cities such as Guayaquil and Quito. As a smaller town, Crucita’s rents are definitely in the lower end of this spectrum.
Utilities such as electricity, water, and garbage are also reasonable and can run as little as $40.89 average per month. With Crucita being on the coast, air conditioning may make for higher electricity costs.
Vacation ROL
Investment Possibilities in Crucita, Ecuador
Crucita, Ecuador is becoming a focal point for both expats considering a retirement option and investors seeking to maximize their returns as the number of tourists continue to grow. With a large amount of underdeveloped and undeveloped land still available, Crucita’s real estate market is poised to see true growth potential.
Importantly, Ecuador adopted the U.S. dollar as its currency in 2000. As a result, many of the issues (conversion values, fees, etc.) that are encountered elsewhere in Central America are not a concern here. Crucita, Ecuador promises to be a location where the dollar certainly can retain its full value.
The Challenges of Becoming an Expat in Crucita, Ecuador
For all the upsides that Crucita offers, the rustic beach town lifestyle may not suit everyone’s idea of a Central American retreat. Since Crucita is a developing community, many amenities that are in found in larger cities and towns are lacking. If having a more modernized environment is important, Crucita may not be the best fit.
Though the number of expats is growing, the expat community as a whole is still small. As a result, being able to speak and understand Spanish is very important and may present a challenge to moving to this Pacific paragliding paradise.
Ironically, one of the major draws of Crucita may also be a major drawback for those looking for a quiet oceanfront home. The various festivals and competitions that bring in paraglider and hang glider participants can make for a more lively atmosphere than some expats may be looking forward to.
Crucita, Ecuador – Take the Leap of Faith
There is a wealth of opportunity that can be found on the beaches of Crucita, Ecuador. There is no substitute for making a journey to Crucita to get a true sense of whether this growing area is a place to build a Pacific future. Much like those who launch into the Crucita skies to paraglide, taking that leap of faith is the first step to finding out what the future may hold.
Map of Crucita, Ecuador
Crucita, Ecuador Fast Facts
- Population: 10,000
- Typical temperature: Average temperature of 75 – 80 degrees Fahrenheit
- Major airports with U.S. flights: Mariscal Sucre Airport (Quito, Ecuador)
- Nearest U.S. consulate: Quito
You may have noticed that a lot of our recent articles and eBooks laud Costa Rica as a great place to invest or buy a home. Our biggest reasons for that include the country’s incredible natural surroundings, unsurpassed beauty, and unmatched quality of life.
However, there’s another, more practical reason we recommend it as a place you should consider for buying or investing in property.
Costa Rica has the most favorable property ownership laws in all of Central America. It also ranks 6th (behind the likes of Chile, Uruguay, and Brazil) out of Central and South America combined.
Buying and owning property overseas, as a foreigner, can certainly present its own set of challenges. However, in Costa Rica those hurdles are pleasantly lower. Here’s the lowdown on what you need to know before you buy Costa Rica real estate.
All Costa Rica Real Estate Falls into One of Six Categories
To help narrow your focus when considering Costa Rica real estate, it’s important to know that every piece of property falls into one of these six categories, some much more common than others. Understanding the pros and cons of each type can help simplify your decision-making process when the time comes.
1. Fee Simple Property
This type of property ownership is the one that North Americans are most familiar with, as it mimics what happens when you buy a piece of property in the U.S. With fee simple ownership, the buyer owns the property and has every right to use, sell, lease, improve, and enjoy the property, subject only to Costa Rican law.
Buyers who purchase fee simple property have the most rights, according to the law, to enjoy their property and use it however they see fit. And foreigners have exactly the same rights as Costa Rican nationals.
2. Concession Property
These classifications, set forth by the Maritime Zone Law, apply specifically to beachfront property in Costa Rica or, more specifically, the first 200 meters measured horizontally from the high tide line. Foreigners cannot purchase concession property as easily as fee simple.
In fact, they’re only permitted to hold a 49% share in a corporation with a native Costa Rican. That is, unless they’ve lived in Costa Rica for five years, in which case they are permitted to be a majority owner. Here’s how that 200 meters breaks down.
- Public Area – The first 50 meters is considered a public area and, consequently, cannot be owned by anyone, including locals. Development is permitted only by approval. However, anything that’s built can be accessed by any individual who wishes to use it for enjoyment.
- Restricted/Concession Area – The next 150 meters, after the public area, is available for concession (which essentially works like a lease). Both foreigners and locals can purchase Maritime Zone property through a concession, which allows them to use it for a specified length of time (usually 20 years). They can build or alter the property, but only after obtaining a permit.
3. Property in Condominium
No, this doesn’t mean a townhome-like residence or a single unit in a high-rise development. It just means a property has been developed according to “Condominium Law.”
These laws allow developers to regulate certain aspects of the development, according to a set of by-laws that spells out all the restrictions and limitations. It’s technically the same as fee simple ownership. However, the by-laws may restrict certain aspects in order to preserve the intended look and feel of the development.
4. Untitled Property
Properties in Costa Rica are required to be registered in the Folio Real at the offices of the Public Registry in San Jose. This registry contains information on the ownership, boundary lines, liens, etc.
That being said, there are some properties in Costa Rica that have never been registered. They may have been passed down through family generations, claimed by squatters, or maybe even never occupied by anyone. This type of property is not recommended for purchase due to the difficulty in proving where the boundaries are or that the “owner” even has a right to sell it.
5. Time Share
While not common in Costa Rica, time share properties do exist. Similar to condominium properties, these offer owners the option to use a particular property for a specified amount of the year.
6. Frontier and Border Land
This category represents the only land in Costa Rica that can’t be owned, either by foreigners or locals. It’s essentially any land within two kilometers of any national frontiers or borders shared with other countries.
There Are Two Types of Purchasing Methodologies
You can purchase and own Costa Rica real estate in one of two ways. Here’s an explanation of each method.
Direct Transfer
This method is exactly what it sounds like. The buyer buys a property and takes ownership, registering it in their own personal name.
Corporations
Buying a property through a corporation is a common practice in Costa Rica. It’s a relatively simple process, with the help of a knowledgeable attorney, and allows the buyer to remain anonymous by registering the property in the name of the corporation.
Another variation of this method is for a buyer to acquire a property by buying shares in an existing corporation that already owns a property, in which case transfer taxes can be avoided since there’s technically no change in ownership of the property if the same corporation still owns it.
There are definite benefits to this method. However, there are also some risks. Namely that a buyer cannot be completely sure that the corporation they’re buying into has no other liabilities that might undermine its solvency.
Now You’re Armed With All the Knowledge You Need
So, that’s it. That’s the basics. Consider yourself ready to navigate the laws governing Costa Rica real estate. All that’s left to do is find the property of your dreams!
Dark, mysterious jungle paths, breathtaking volcanic vistas, heart-pounding, high-adrenaline whitewater challenges; Tena, Ecuador is truly a gateway to Amazonian adventures. This colonial jungle village, southeast of Quito, can be a doorway to the kind of journey one might only expect to see on the big screen in a big budget movie.
Whitewater Ride
Ecuador is a country rich in history and filled with potential for expats and visitors alike. As a starting point for exploration of the Amazon basin and the Galapagos archipelago, Ecuador offers a rich and diverse selection of things to see, do, and become immersed in.
Tena, Ecuador – A Place of Amazon History
In 1541, Gonzalo Pizzaro, half-brother of the conquistador, Francisco Pizzaro, left Quito and headed east through the Quijos Valley in search of the fabled city of El Dorado. Although the search for the golden city failed, one of Pizzaro’s second-in-command, Francisco de Orellana, continued the journey downstream and, ultimately, discovered the mighty Amazon River.
Their route would have taken the explorers through what would later be the town of Tena. Founded in November 15, 1560, Tena quickly became an important colonial trading post and a gateway to the upper Amazon and the Amazon River proper.
Jumandy and the Quijos Uprising
As Spain continued its colonial expansion, the indigenous Quijo people began a revolt. Though successful in putting down the first insurrection in July, 1560, the colonial authorities were concerned about continued unrest.
In order to try and head off future attacks, two conquistadors, Andres Contero, the lieutenant governor of the region and Captain Bartholomew Marin sought out and met the leader of the Quijos, Jumandy.
After refusing Jumandy’s request to leave the area, the Quijos attacked and destroyed the Spanish towns of Avila and Archidona during 1578-1579. While trying to get assistance in his revolt from the Sierra tribes, Jumandy was betrayed, captured, and ultimately executed in Quito. The entry to Tena is marked by a statue of Jumandy, erected in his honor.
Tena Today
Tena has evolved from its colonial past as a key jungle trading post and point of departure for the Upper Amazon basin to the major commercial center and capital of the province of Napo. Tena’s atmosphere is still that of a small jungle community, retaining much of the rich cultural heritage and lifestyle of yesteryear.
Sumaco Volcano
Adventures In and Around Tena – From Mild to Wild
Surrounded by rivers with challenging rapids, dense rainforest jungles and towering volcanic peaks, it is not surprising that this former jungle outpost has become a hub for all kinds of visitors. Whether your interests run to the culture and history of the region, exploring the unique geological features and the rich biodiversity they contain, or raising your adrenaline levels with some extreme sports, Tena has it all.
Whitewater Challenge
Tena’s reputation as a great starting point for jungle kayaking and whitewater rafting has grown since hosting the 2005 World Rafting Championships. The surrounding rivers, Jatunyacu, Jondachi, Hollin, and Anzu provide what many consider the best rafting, not only in Ecuador, but the world.
The range of difficulty can run from very gentle rapids, ideal for families, to the daunting Class III+ and Class IV levels for experienced adrenaline junkies. The large number of tour operators can help visitors find the tour and difficulty level that they desire.
Volcano Hikes, Biodiversity and Caving Exploration
Soaring 12,244 feet above the Amazonian jungle, Sumaco Volcano has been called one of the most intense hiking experiences in Ecuador. The villages along Loreto Road, 30 kilometers north of Tena, are home to many guides who can help intrepid adventures navigate the challenging 5-6 day hike through jungle path and mountain trails to the summit.
The Jumandy Caves (Cuevas de Jumandy), a labyrinth of natural caves and tunnels a short bus ride from Tena, give visitors the opportunity for cave swimming and viewing the stunning underground collection of stalagmites and stalactites. Cave diving is offered to experienced and certified divers.
The cave system is also important from a historical perspective. It was in these caves that the Quito chieftain, Jumandy, lead the women and children of his tribe in an attempt to hide from the Spanish forces during his unsuccessful rebellion.
Jatun Sacha Biological Station is the second largest conservation organization in Ecuador. Located on a dirt road just outside Tena, the station offers a number of programs and exhibits that provide an educational perspective on the unique biodiversity that exists in the upper Amazon basin.
Immerse Yourself in Amazon Culture
There are many small villages and towns in and around Tena where large numbers of the indigenous Quichua, Quijos, and Chibcha groups still live. Visiting these jungle locations may provide the opportunity to experience and participate in the preparation of chicha (a beverage made from maize that can be either fermented or non-fermented) and, possibly local shamanic rituals or ceremonies.
The area in and around Tena has a number of festivals during the year. The week of November 15th – the day Tena was founded – is marked by live music and community events throughout the city.
Archidona, a colonial town just north of Tena, has a number of festivals during the year. April is the busiest month for these celebrations: on April 21st, the Chonta Folk Festival is held and on the 27th the Fiestas de Cantonización is observed.
Perhaps the most popular celebrations in Archicona are the beauty and cultural pageants honoring the Quichua people, their culture, language, and heritage. These events culminate in April when the “Queen of the Quichua” is chosen.
Scott Schuette
Tena Is Also Becoming an Expat Destination
Tena combines the atmosphere of a jungle outpost with the energy and development of the commercial center and capital of Napo province. This unique combination makes Tena a desirable investment location for expats seeking something different.
With a population just over 20,000, Tena is continuing to improve its infrastructure to accommodate new arrivals and investors. The city is home to a major regional hospital, a small airport, bus terminal, and many tourist related businesses.
As one of the top industrialized communities in Ecuador, Tena’s commercial potential is vast. Continued improvements to the highway between Quito and Tena will also foster increased accessibility for expats seeking to build a new life in the jungle.
Dogmunyo
Living in Tena – What to Expect
In spite of the commercial activity in the area, Tena is still, basically, a rustic community. Expats seeking to become part of Ecuadorian and Amazonian culture will find the area in and around Tena a perfect fit with an abundance of festivals, markets and celebrations.
The cost of living is less than Guayaquil or Quito. While budget-friendly (an important consideration for many expats), the trade off is that there are fewer amenities like those found in large cities.
Similarly, real estate prices (rental and purchase) are also lower than other more-developed parts of Ecuador. Importantly, non-residents have the same property rights as native Ecuadorians and are not restricted in buying property. Looking at property listings can provide a good picture of the potential that exists-both for developed and undeveloped parcels.
Getting There and Getting Around
Much like the explorers of the past, the journey to Tena can often be an adventure in and of itself. The main road between Quito and Tena is subject to landslides and other issues although improvements continue to be made. Regular bus service via Baeza does exist but must be reserved in advance as the buses fill quickly.
There is no commercial airport in Tena; only small private flights (usually just for a single passenger) are available. Once in town, there are local taxis that can get you from point A to point B.
There are a number of hotels in the city that are generally inexpensive. As elsewhere in Central America, the more amenities offered, the higher the nightly rate.
Tena holds the keys for those seeking to explore the mysteries and wonders of the Amazonian basin. Visiting this unique and exciting place can reawaken the explorer in everyone.
Map of Tena, Ecaudor
Tena, Ecuador Fast Facts
- Population: About 20,000
- Typical temperature: Mid 80’s
- Nearest airport with U.S. flights: Quito, Ecuador
- Nearest U.S. consulate: Quito, Ecuador
With more and more retirees, entrepreneurs, and families moving abroad than ever before, there are numerous websites and publications dedicated to the topic of international living – including, most notably, a print and online magazine that goes by that very name.
Their pages are filled with stunning photos of exotic destinations and bold claims about affordable living, ideal climates, and first-world amenities. While not entirely untrue, these assertions are often biased (at best) or completely misleading (at worst).
Before you buy into the hype about international living, make sure you understand the truth behind their claims. Here are a few tips to help you avoid being unsuspectingly led down the primrose path.
photo by Steve D.
1. Never rely on ANY single international living resource for all of your information, including our site.
This is one tip I can’t stress enough. Every expat blogger, travel writer, or international living expert has his own opinion. Some are more candid than others. A few may tend to gloss over the unpleasant parts of living abroad. Some may even have ulterior motives that drive their recommendations.
Before you make such an important decision as where to live or invest overseas, you need to know all the facts. Dig up all the research you can find on your prospective area, even the negative stuff. Chances are, if something about the place bothers enough people, it may affect you as well.
2. Understand there’s no such thing as a “top secret” destination.
News flash. A quaint little town that some international living website labels as its best “undiscovered” destination can just go ahead and toss that title in the trash just as fast as it earned it. Places dubbed as being “off the radar” will soon be “up-and-coming,” and the next thing you know they’re “expat hotspots”!
Don’t believe me? Just look at what happened in Boquete, Panama.
Don’t get me wrong. There’s nothing wrong with moving to the place that everyone else wants to be…unless you were truly looking for a more authentic expat experience. In which case, your best bet is to “discover” the place for yourself.
3. Realize phrases like “affordable living,” “spring-like weather,” and “modern conveniences” are relative terms.
These phrases are favorites among people who write about international living. They’re also incredibly ambiguous. What’s affordable to Donald Trump is entirely out of reach for the rest of us. Spring looks a lot different in Southern California than Northern Maine. And my grandparents would consider a phone modern as long as it doesn’t have a rotary dial.
Instead of naively believing these generic claims, look for actual data that supports them. Average temperatures and rainfall are easy enough to find. Expat forums and city-specific websites can give you more info on actual prices for things like rent and utilities. They can also tell you if there’s reliable cell and internet services.
4. While you may not have to learn the language, you’re going to want to.
While it may be true that it isn’t necessary to learn the local language, especially in places with an established expat population, I highly recommend that you do. If not, you may find yourself only associating with other expats or frequenting the same handful of expat-friendly establishments over and over again, never branching out.
There may be a handful of people who would be content with moving overseas and never experiencing what international living is truly about, but I doubt it. Unless your goal is to move hundreds or thousands of miles away, only to live a lifestyle that looks almost identical to your North American one, then plan to become bilingual.
5. Make sure your anticipated budget meets your needs.
One of the biggest international living mistakes new expats make is believing that estimated costs for various expenses are one-size-fits-all. Take housing for instance. Sure, you might be able to buy a home in Boquete for $200,000. But make sure you’re considering the whole picture.
If you have to move outside the city center to find a more affordable place, you may end up needing a car. If you’re accustomed to having a pool or gym in your building, consider whether a prospective apartment has those amenities.
The same goes for expenses like health insurance. Just because it’s inexpensive for most people, it’s best to make sure you can afford coverage for any special conditions or needs you have.
6. There’s no substitute for experiencing a place for yourself.
You would think most people would have the common sense not to move abroad without ever even visiting their destination of choice, but in fact we see it all the time. Not getting the full picture of your new city, before you move there, is one of the most devastating mistakes made by expats. It’s also the most easily avoided.
Once you’ve chosen where you think you want to be, or at least narrowed it down to a few, you absolutely must visit them. Once one wins out, spend even more time there. Interact with the locals. See what it’s like in all seasons. Try to get a feel for it as a resident, not just a tourist.
Only once you’ve experienced a destination for yourself can you truly feel confident in your decision to become an expat there. No international living magazine can give you that assurance. I don’t care how many seminars they offer.
When it comes to choosing a tropical destination to call home, it’s important to know that they aren’t all created equal. It’s also important to know that just because one person or one publication loves a certain country or city, that doesn’t mean that everyone will or that YOU will.
That being said, there are a few places that stand out heads above the rest in terms of lifestyle, atmosphere, and quality of life.
Bridget Shirvell
We ranked cities all across Latin America in areas such as cost of living, quality of life, and potential for real estate appreciation. And we’re dying to tell you more about the three cities that blew all the others out of the water in those and other categories.
And, while not every single person on the planet would be happy in one of these three destinations, they’re hands down the top places where most people would be happy living in the tropics.
Here they are!
Zhu
1. Nosara, Costa Rica
There is no place on earth quite as remarkable as Costa Rica, with its unparalleled natural beauty, friendly population, and laid-back lifestyle. Its residents are among the happiest people on the planet, and there are some obvious reasons for that.
There’s also no place in Costa Rica quite as fantastic as Nosara. It was initially established as a planned community by a North American developer. It got started on the right track and has continued to follow that original plan.
Today, it’s a tropical paradise with a first world design. There are banks, grocery stores, medical clinics, and fitness centers. Yet, due to zoning regulations, there aren’t any high-rise condos to block your view of the pristine coastline and magnificent sunsets.
The town also has numerous conservation and beautification initiatives, so it’s one of the cleanest cities you’ll find in the tropics. There’s regular trash collection, clean water, and reliable utilities.
It’s a health conscious town, and most residents regularly enjoy activities such as surfing, yoga, stand-up paddleboarding, soccer, tennis, and other sports. There are organic grocers, smoothie stands, and other healthy consumer options. There’s also plenty of nature to help rejuvenate your mind and body.
Great for Singles, Even Better for Families
Not only is Nosara a great place to live, it’s also the perfect place to raise a family abroad. There’s a large established expat community and a lot of English speakers, which makes for an easy transition. There are several bilingual schools, as well as plenty of organized sports and activities for children to enjoy.
Nosara is also an incredibly safe town. Crime is low, and there’s not much of a party scene or drug culture like you might find in other tropical beach towns. Everyone looks out for each other, and there’s a great sense of community.
While not the cheapest city to live or buy property in the tropics, Nosara offers tremendous bang for your buck. And even though it’s already a well-established town, there’s still room for appreciation and growth. As investors, we hope to be a part of where Nosara is headed.
Eric Hunt
2. Cuenca, Ecuador
You’ve probably heard a lot about Ecuador, and more specifically Cuenca, being a great place to live or retire because it’s cheap. Well, we think that’s a horrible reason on which to base such an important decision.
Yes, Ecuador enjoys a lower cost of living than many of its Latin neighbors, but there are so many better reasons to love this country and city. Here they are.
First of all, the climate is ideal. The temperature most days is in the high 60s to low 70s. It gets cooler at night, sometimes dropping into the high 40s. You only need one wardrobe for the whole year, plus a sweater or light jacket for evenings.
There’s a rainy season that runs from January to May. The rest of the year, all you’ll see is an occasional afternoon shower, perfect for a nap or some time with a good book.
Small Town Atmosphere, Big City Amenities
Also, for a fairly large city (roughly 330,000 people), it has a quaint small town feel. The colonial architecture is stunning, the people are friendly, and the carts of local farmers and craft vendors make walking the city streets a pleasant experience.
Yet despite Cuenca’s charming ambiance, there’s no shortage of big city amenities. There are internet cafes, boutiques, entertainment options, and any professional service you can think of.
What’s probably most notable about Cuenca is the incredibly diverse culture, both native and foreign. Cuenca is home to several large universities, and the zeal for learning and experiencing new things radiates through the city. There are numerous museums, free concerts, and local artists that further establish Cuenca as an important cultural hub.
Though not dirt cheap like many areas in Ecuador, Cuenca is a very affordable place to live. It has a large, growing expat community and numerous expat-friendly businesses. Health care is good. Education is emphasized. It’s a great fit for expats of pretty much any demographic.
Flickr
3. Boquete, Panama
Panama, and especially Boquete, has been the darling of the international retirement scene for a while now. Not only does it have natural beauty, a great climate, and first world amenities, it also offers some of the best retirement benefits of any country in the world.
Retirees of any age can save on everything from healthcare to transportation to entertainment to utilities. And with tons of visa options, obtaining residency in Panama is about as simple a process as is possible in Latin America.
But enough about the boring stuff, what’s truly amazing about Boquete is the scenery and all the incredible opportunities to experience nature in the surrounding areas. Boquete has been dubbed both the “Land of Eternal Springtime” and the “Valley of Flowers,” and it easily lives up to both of those monikers.
At 3,900 feet above sea level, it enjoys a moderate climate with warm days and cool nights. Its location offers sweeping vistas of the surrounding valleys. And its fertile soil makes it the perfect place to grow fresh fruits and vegetables year round, as well as a variety of flowers. Its orchid fair held each March is an international event.
The Pace of Life Is Slow, but You Don’t Have to Be
The surrounding mountains offer opportunities for hiking, bird watching, white water rafting, zip lining through the cloud forests, or exploring local organic coffee farms. After a day packed with activity, the nearby Caldera hot springs are a great place to relax and rejuvenate.
Thanks to a longstanding expat presence, Boquete has most amenities you’d expect to find in an established first world city. English is widely spoken. Phone and internet service are top-notch.
Boquete is a more expensive mountain option than Cuenca, yet still affordable by North American standards. Its expat population is still growing steadily, thanks to much media hype in recent years. That’s likely to continue for years to come.
Panama Travel
What About the Other 54?
These are the three tropical destinations we feel will appeal to the largest number of people. However, there are still 54 other amazing places you need to know about. It is possible you might love the sound of one of those even more than the three we just described. Download our free eBook and find out!
Unless you’ve been hiding under a rock, you probably saw that we recently published our Top 57 Places to Live and Invest in the Tropics eBook. It’s hundreds of pages of facts and photos detailing, based on our research, what we believe to be the best places to move yourself or your money in Latin America.
It’s a great read and, if you haven’t already, you should definitely check that out. It answers the biggest question we get asked all the time as experts on real estate investment and all things expat.
Karan Jain
Or should I say the TWO biggest questions?
Because a lot of people assume that there are great places to live, and then there are other places that aren’t as great to live but are great areas in which to invest. And that’s not the case.
When we ranked the cities on our list, we looked at dozens of factors like climate, cost of living, accessibility. But the ones that really carry the most weight for us are these two: quality of life and real estate potential.
Those might not seem like they have anything to do with each other, but they actually do. Places that offer an incredible quality of life are naturally going to be places that are growing and have opportunities for new businesses, more housing, and other services.
Here are a few principles to help you understand how these two factors relate.
Vytautas Šėrys
1. Quality of life is the number one thing that drives happiness.
It just is. It doesn’t matter how much of a great deal you score on a piece of property, if the place doesn’t offer the lifestyle you desire then you’re never going to be happy there. Whether the level of amenities is lacking or there aren’t enough people nearby–whatever the reason–if an area doesn’t have what you need to be happy or fulfilled, then it’s never going to work.
azueros.wildland
2. When people are happy, others start to want what they have.
We’ve seen this happen in city after city. Once a place starts to attract the right investors and the right kind of residents, then development starts to spread like wildfire. So well-planned projects lead to more businesses and better amenities. That leads to more residents, more developments. Growth naturally happens.
Thibault Houspic
3. Better amenities and infrastructure mean good things for real estate.
When areas start to grow, then the government has to build new roads, install new utilities, improve existing services, etc. Those are automatic ways to increase your property value without ever having to lift a finger.
Storm Crypt
4. Spreading yourself too thin won’t make you happy either.
While we think quality of life is important, it’s not the only factor you should consider. That’s why we also included affordability and an area’s potential for real estate appreciation in our study.
Because we don’t want anybody to buy the most expensive house they can afford in an area that offers a great lifestyle, move down, find out it’s just not going to work for them, and then get stuck upside down on a property in another country because of market fluctuations. There’s a balance, and we can’t stress that enough.
5. Speculating on rock bottom real estate is best left to guys like us.
Yes, there are little-known places, undiscovered beaches, remote islands, and sleepy farming communities where an investor can find unheard of deals on real estate. But not someone investing from a suburb somewhere in Ohio.
To be able to evaluate a piece of property solely on its potential for appreciation, you have to understand that this could be a very long-term investment. Like decades. It’s not for the faint of heart, and it’s not something we’d recommend to your average North American investor.
Viva Tropical
Live vicariously through our adventures.
Instead, we invite you to look at all the factors, not just the ones that affect your pocketbook. It might not sound as pioneering as the types of projects we undertake, but that’s why we offer ways for investors to partner with us and benefit from our success in this area.
Quality of life and real estate potential go hand in hand. Check out the places that scored off the charts for both. If we think you should live there, then we also think it’s smart to invest there. And that’s exactly what we’re doing right now.
Many people seeking the island life gravitate towards the islands in the West Indies or the Eastern Caribbean, but there are so many options out there. For instance, the Western Caribbean nation of Belize hosts a number of locations that make a great island lifestyle possible, including Ambergris Caye.
Once the decision to move down to a gorgeous tropical destination to live out your tropical lifestyle dream has been made, the real work can begin. And of course, start first with investigating all there is to know about living in Belize.
Rich MacDowell
We think a good place to start is Ambergris Caye. There are plenty of homes for sale for reasonable amounts of money, but that’s not the only reason to live there. Belize has plenty to offer, including English as its official language, an established expat community, and great ecotourism opportunities for fun in the sun.
From Fishing and Farming to Shopping and Fine Dining
Many of the island’s locals include immigrants from Mexico, as the island was once a large coconut producer and fishing town. Only recently has that changed as Ambergris Caye has become largely dependent on tourism. It’s the largest island in Belize (out of over 200), 25 miles long and over a mile wide in some spots.
The water there is the beautiful blue for which the Caribbean is famous. The second largest barrier reef in the world (over 190 miles long) protects the island and the coastline of Belize.
Though the island is quite long, San Pedro Town is the only part with inhabitants. The town itself is only a mile long and a mile and a half wide. You’ll find a lot of the usual tourist trappings here: gift shops, bars, and fancy restaurants for those on vacation. However it’s far from feeling “touristy.”
Ambergris Caye Is “Simply” Irresistible
Many people enjoy Ambergris Caye because they want the beach life, but they don’t want to live in a high-rise on South Beach or another built-up paradise. They love it for its simple charm. Like the dirt streets that are constantly watered down to prevent dust or the frequent hum of golf carts zipping by. Some buy land and build their own home, and find their creative spirit, like creating art from the driftwood that runs up on shore.
The simplicity also helps with keeping costs down. For example, $50 per year for golf cart insurance beats the heck outta hundreds or thousands for car insurance. And in this case, remote and simple doesn’t have to mean disconnected. Reliable internet service makes it easy to keep in touch with family back in the U.S. or operate a business from your home.
Quality medical care is also readily available and affordable. Dental procedures cost only in the tens of dollars, compared to a few hundred back home.
Amaury Laporte
Affordable, But Not Cheap
While we’re on the subject of cost, you may be wondering how much it really takes to live in Ambergris Caye. The truth is that, while it is one of the more expensive places to live in the country, due to its beautiful beaches and pleasant surroundings, you’ll still be saving a significant amount in comparison to the United States. And, just like anywhere, costs can vary greatly depending on your location and lifestyle.
Home costs can run as low as $300 a month for a basic house or apartment, but beachfront condos can run in the thousands of dollars. It is much cheaper over time to own the home, especially since property taxes are incredibly low. Electricity and other utilities may be expensive, depending on the usage. You can cut down costs by getting energy efficient appliances, and using air conditioning sparingly.
Groceries can be cheap, if you stick to non-American brands and a red meat-less diet. Alcohol is relatively cheap, but your wine habit may cost you a pretty penny. There’s a wide selection of consumer goods on the island, but anything else has to be shipped, which adds some additional costs.
One expense you’ll need to consider is getting to and from Ambergris Caye when visiting family back in the States. JetBlue, Spirit, and Southwest Airlines have made a run at many Caribbean and Central American nations, offering return flights for under $300 in some cases from as far as New York City. Belize, on the other hand, has fewer competitors vying for the destination, so you’ll see a lot fewer “flight deals” than to other places in Central and South America.
Cloud 2013
Stay Busy (or Not) on Ambergris Caye
If you’re worried about getting bored on Ambergris Caye, you may want to check out your priorities. With the aforementioned second-largest barrier reef on earth, you’ll find plenty of diving opportunities around (ever heard of that little thing called the Blue Hole?). Shark Ray Alley also allows you the opportunity to swim with sharks. And, with such a healthy reef just off the shore from your home, sport fishing is a popular activity in the area.
For land lovers, there are things to do on shore as well. If you’re an epicurean, there are dozens of restaurants that may tickle your fancy. Or, if you’re interested in nightlife, there are several late-night bars providing entertainment for tourists and locals alike.
There are even a few attractions underground! Since Ambergris Caye is a limestone atoll, there are actually caves that you can explore to escape the heat. Other eco-opportunities include Bacalar Chico National Park, Marco Gonzalez Maya Site, and escaping to the mainland of Belize which features an incredible amount of ecotourism, including cave tubing (yes, you read that right!).
Or, if a little relaxation is all you’re after, there are plenty of opportunities to just kick back and enjoy the beautiful vistas and the soothing sounds of the Caribbean waves and wildlife.
So, is Ambergris Caye the island for you? It combines the Caribbean island life, coupled with some authentic Belizean culture. Read more of what we’ve written about this Caribbean paradise, and see if you can make your island life a reality today by moving to Ambergris Caye.
Lake Atitlan, Guatemala has long been heralded as one of the most stunning lake vistas on the planet. Luminaries such as Aldous Huxley and Alexander Von Humboldt have labeled it as the most beautiful lake in the world.
The communities around Lake Atitlan have steadily gained popularity, among both tourists and expats looking for a unique destination off the beaten path. The nine lakeside communities that surround the lake have undeveloped potential waiting for those adventurous enough to take a closer look.
Nunavut
5 Truths That May Surprise You About Lake Atitlan Guatemala
There are some important facts about Lake Atitlan Guatemala that will dramatically impact how you view the potential of this highland community as a place to live and invest. The top five of these truths are listed below (in no particular order of importance).
Atitlan Is Easy to Access
Located in the highlands of the Sierra Madre de Chiapas mountain range, the pace of life in and around Lake Atitlan is certainly far less hectic than other, more populous locations. However, in spite of what may at first appear to be a remote location, the area is a short two and a half hour drive from Guatemala City. The international airport there is continuing to expand the number of international flights that will connect Guatemala with many U.S. and European cities.
After arriving in the lake region, getting to the various villages that make up the Atitlan, Guatemala community is accomplished by taking one of the many lanchas (small boats) that can be found at the docks. These water-going “buses” have no regular schedule but, generally, can be expected to run on the half hour. This local mode of commuting is both inexpensive and a great way to immerse yourself in the culture of “Lago Atitlan.”
Not Cheap, But Affordable
The truth is that real estate in Lake Atitlan Guatemala is affordable. This is not to say that it is cheap, however. Articles that make claims about living in this tropical paradise for $500/month, for example, are truly overblown.
For example, a modern apartment, utilities, groceries, some modest entertainment, transportation and miscellaneous expenses for two people could run in the $1,400 to $1,500 per month range. While this is certainly less than other Latin American locations, such as Playa del Carmen in Mexico, living lakeside still requires some budget considerations.
Nathalie Verwilghen
It Isn’t Crime-Free
Like any other area, the truth is that there is crime in Atitlan. After all, it is still Guatemala. While generally safe for expats and tourists, taking simple precautions (locking your doors, keeping valuables in a strong box, safe, or locked room, avoiding areas known for criminal activity, etc.) can certainly reduce the likelihood of become a victim.
As Guatemala continues to emerge as a growth opportunity, the disparity of wealth does lead to problems. However, this is no different than the situation in many American cities. Being aware of this simple truth can help make your Atitlan adventures safer and more enjoyable.
There Are Many Opportunities and Options For Investing And Living In The Atitlan Area
The several communities that border Lake Atitlan have great potential for those entrepreneurs looking to purchase land to either develop or hold as an investment in their portfolio. Additionally, there are turnkey properties that expats can immediately occupy. The variety of locations surround the lake range from modern to authentic. Here are some examples of what’s currently available.
- 3 bedrooms waterfront with car access – Located in the magical community of Santa Cruz La Laguna, on the north side of the lake, this all concrete house sits on a .75 acre lot with 200 feet of waterfront views and a caretaker’s house. The large windows make enjoying the beauty of Lake Atitlan a comfortable proposition. Fully furnished, the large master bedroom contains a king-size bed with ample closet space. The well appointed kitchen has modern appliances and plenty of pantry space. The second floor mezzanine can be an additional bedroom or den area. The $325.000 asking price also includes a 30 year, renewable, government lease contract.
- 3 bedrooms near the center of town – The community of Panajachel is the most visited community on Lake Atitlan and is the transportation hub for all the smaller lakeside communities that surround it. Priced at $165,000, these brand new three bedroom houses are just a block from the main pier to San Pedro, within walking distance to restaurants and tourist attractions. The design is ideal for a family retreat or a rental property for those who are seeking a second home in Latin America. Owner financing is possible during the pre-building stage (50% down, $5,000 per month for ten months, with the balance on delivery).
- Vacant lots for development or investment – The smaller, more rustic lakeside villages also provide an opportunity to purchase lots for development or holding for a later investment. The growing number of expats and tourists coming to Guatemala, and the highlands in particular, are providing a viable growth market and a wealth of opportunities for those with enough foresight to get in on the ground floor.
Michael Swigart
It Has 9 Completely Distinct Villages
In addition to the principal hub city of Panajachel, there are nine other villages that are located around and across Lake Atitlan. Each of these smaller towns have their own distinct flavor. San Marcos La Laguna, for example has the reputation of being a quiet community focused on meditation; San Pedro La Laguna is at the other end of the spectrum with a laid-back kind of vibe favored by the backpacker crowd.
San Antonio Palopo and Santa Catarina Palopo are authentic Mayan communities perfect for anyone wishing to immerse themselves in that timeless lifestyle. Similarly, Santiago Atitlan, the largest town on Lake Atitlan is famous for its Maximón shrine (blending Mayan and Catholic traditions). San Juan is becoming known for the stunning natural dyed fabrics made there.
And for those just looking to get away from it all while being surrounded by inspiring natural beauty and solitude, the villages of Santa Cruz la Laguna, San Lucas Toliman and Tzununa are the epitome of a magical highland, lakeside escape. Having so many options is a surprising and welcome truth about Atitlan
The Most Important Truth About Atitlan
Perhaps the single most important truth about Atitlan is that the region is definitely in the growth stage. The rich, vibrant Mayan culture of Guatemala is alive and thriving in Atitlan. Primarily consisting of two Mayan tribes-the Tz’utujil and Kaqchikel- this ancient cultural heritage is part of daily life in several of the smaller communities around the lake.
Being able to see and experience Mayan culture, not just as a tourist presentation, but as a way of daily life, is a profound experience that cannot be had in many places in the world. The moderate highland climate only adds to the ambiance of the region.
Combine that with the natural beauty, great climate, unique cultural blend all make this Guatemalan destination a place that must be seen and experienced firsthand to appreciate the potential for prosperity that it holds long term.
Much media attention has been given to real estate in Ecuador and the amazing opportunity it represents for expats and retirees who are looking for an affordable place to live abroad. Cost aside, there are a lot of really great things to love about Ecuador, so it’s no wonder it’s become such a popular destination.
Ecuador offers easy access from the U.S., and its many visa options make the transition relatively simple. Many of its cities have good infrastructure, a wide variety of consumer options, and amenities you’d expect from a much more developed region.
There’s authentic culture, impressive ancient architecture, and climates to suit almost any preference. Not to mention the rich history, breathtaking scenery, and some of the friendliest folks you’ll ever find.
The Ecuadorian real estate market can also be a pleasant attribute. However, if you approach your house hunting journey with any misconceptions, it can also be a giant headache. Here are five facts that could, and should, change the way you think about buying a home in Ecuador.
Melosh
1. There’s no Multiple Listing Service (MLS) in Ecuador.
If you’ve ever bought a home in the U.S., then you (or your realtor) probably searched for available listings using the Multiple Listing Service, or MLS. Ecuador doesn’t have one of those. As a result, you’re on your own when it comes to finding properties for sale in Ecuador.
A good way to start is by hiring a buyer’s agent, since most real estate agents in Ecuador work for sellers, to help with your search. You can look for properties online via realty sites and expat forums.
It’s also a good idea, if you’ve narrowed your search to a particular area, to spend some time visiting and inquiring around about properties for sale. It may be that some of the expats or locals can connect you with someone who’s interested in selling, but may not have formally listed their property.
2. Ecuador is slowly becoming a buyer’s market.
Real estate in Ecuador was a hot commodity from 2006 to 2014 when the market could be best described as “booming.” This was largely because of the tremendous amount of media attention the country was receiving, touting it as one of the best places to retire or buy a second home.
However, the market has slowed as of late due partially to the drop in oil prices, as the economy depends heavily on its oil exports. To help boost the economy, the government has thrown around the idea of increasing property and capital gains taxes, and the real estate market is bracing for that possibility.
As a result of this uncertainty in the market, some sellers have started to lower their prices. One exception is in high-end neighborhoods where supply is low, demand is high, and the wealthy homeowners may be less desperate to sell. Prices in those exclusive areas have stayed the same or, in some cases, even increased.
Diez & Romeo
3. You’ll need a lawyer in addition to your realtor.
You’re familiar with the need, in the U.S., to hire an attorney to oversee the closing process and file the necessary paperwork. You usually sit down with them for no more than an hour, sign a stack of papers, shake hands, and that’s it.
Not so in Ecuador.
Just as you carefully research real estate professionals in order to find someone you can trust, you’ll need to do the same to find a qualified, bilingual (unless you’re fluent in Spanish) attorney who has experience handling real estate transactions for foreign buyers.
Their role includes ensuring there are no liens against the property or other restrictions that might delay or void the sale. They’ll research the property’s title and ownership history to make sure there are no concerns, handle all the paperwork associated with the sale, and then register your property once the transaction is complete.
4. Taxes and fees are pleasantly low.
Annual property taxes in Ecuador are typically 1% of the value of property as assessed by the local municipality, which is usually lower than the actual purchase price. And the total closing costs for someone buying property in Ecuador is between 2.3% and 4% of the price paid for the property.
Here’s how that breaks down. The transfer tax is a flat rate of 1% of the home’s value. There’s also a provincial transfer tax, which is $510 plus 0.11% of the value, and a registration fee that’s generally around 0.10% of the property value.
The notary fees can vary, but they’re generally 0.10% of the property’s value. These are all paid by the buyer. The seller only pays their realtor’s fee. Later on when you get ready to sell your property, you’ll also pay a capital gains tax of 10% of your profit.
Canoavilla
5. The transfer of cash looks very different.
Again, while you’re probably familiar with buying real estate via an escrow account, there’s no such thing in Ecuador. Instead, sellers will usually ask for a refundable deposit (as much as 10% of the purchase price). However, this should only be paid after all due diligence is done and there’s a signed and notarized promissory note.
Another hurdle involved in the buying process is the issue of transferring money into Ecuador. You’ll want to begin this process well in advance as wiring money into the country can take as long as 30 days.
Obtaining a mortgage is not out of the question. However, most financial institutions in Ecuador prefer very short-term financing in order to limit their exposure.
Buying property in Ecuador is a great proposition. However, before you start the process, make sure your head’s in the right place. Don’t be disillusioned by thinking it will mirror the same process in the U.S. Do your homework, and start your search today!
Panama has been a major player on the overseas retirement scene for a few decades. With its top notch infrastructure, incredible natural beauty, and attractive visa options, it’s a natural standout.
But with so much media attention and renewed interest in the area, it’s also become quite pricey. In many cases, the price of real estate and consumer goods rivals or even exceeds that of other trailblazing destinations in the region like Mexico and Costa Rica.
Emerging Terrains
Panama’s Last Accessible Frontier
However, before you rule out Panama in your search for the perfect expat destination, there’s one other place I think you should consider.
It’s an otherworldly landscape that’s still relatively accessible (and becoming more so with each passing month). It’s perfect for those who love nature, adventure, and the incredible Pacific Ocean with all it has to offer.
And, though this area is definitely poised for some serious growth in the coming years, at present it’s still one of those places where you can score those rock-bottom real estate deals that you thought didn’t really exist anymore in Panama.
Are you dying to know what this top secret destination is? Well, I won’t keep you waiting any longer.
It’s Burica, Panama.
Getting There Is Half the Adventure
Burica, Panama, is only a two hour drive from David. However, those two hours of travel aren’t your usual winding journey along the coast or through the countryside. In fact, when we first started our Playa Burica project, there wasn’t even a road that would take you to the end of the Burica Peninsula where the town is located.
Since the dense jungles that cover the peninsula extended all the way to the water’s edge, residents had to drive directly on the beach (which was only possible at low tide) to even be able to access the Burica community.
The government has now put in a road that allows access to the entire peninsula, but it’s still a rough ride. Rest assured, though, what awaits you at the end of that bumpy road is well worth your effort.
Thomas Richman
What Awaits You at the End of the Road
After bouncing along over a few miles of rocks and ruts, you’ll step out of your vehicle to some of the most amazing views in the tropics. Waves crash on the jagged volcanic reef that extends, in some places, as much as 200 meters out into the sea.
The reef, combined with the peninsula’s exposure to southern swells, allow for great surfing conditions. There are a number of secret surf spots in the area, which the locals guard with their life.
The deep-sea fishing off the coast of Burica is incredible, with many world record tuna, wahoo, black marlin, and dorado having been caught in those waters. One fishing lodge has already opened in Burica, and I’m certain others will follow.
The landscape is lush with tropical flora and fauna, and the beach is lined with towering palms inhabited by howler and capuchin monkeys, as well as the endangered red-backed squirrel monkey which is unique to the region. A look back inland affords views of Volcan Baru, Panama’s highest peak.
During low tide even more of the reef is exposed, which makes for an incredible moonscape. And, up until a few years ago, all of this wonder was virtually unknown to anyone except the locals.
Yes, You Actually Can Afford All of That
The amazing natural surroundings and opportunities for adventure that I just described could just as well have been excerpted from the listing for some exclusive resort property with an astronomical asking price.
But the prices in Burica, Panama, are far from excessive.
Because the area has only recently begun to draw attention from investors and developers like us, and because there’s little in the way of infrastructure or amenities, real estate prices are still relatively low. As such, there are some bargains to be had.
Playa Burica property in Panama
More Good News about the Value of Property in Burica
The area is in the second of the five stages of development we’ve identified for tropical destinations. That means it’s currently most attractive to large-scale developers who are buying large tracts of land as investments.
What that means is that, as more and more developers buy property in the Burica area, everyone else’s property value gets an automatic boost with little to no effort whatsoever. And every new development that gets built is going to have to include more and better amenities in order to keep up with the market.
It’s a win-win for property owners who get in during the early stages! It might be too late to be the first on the scene, but there’s still plenty of room for improvements that are going to make property values take off in Burica.
Emerging Terrains
Even Better News about Real Estate in Burica
So, buying real estate at rock-bottom prices is good. Seeing nearby developments inadvertently up the value of your property is great. Having the government invest in infrastructure that greatly increases access to your land is even better.
And that’s exactly what’s happening in Burica.
We’ve already seen what happened to property values when the new road gave access to the end of the peninsula for the first time ever. Well, also in the works is a new 4-lane road from Paso Canoas, on the Costa Rican border, to Puerto Armuelles, which is the last “big” town before you head out across the peninsula.
This is important for a couple of reasons. First of all, it makes the area even easier to access. Secondly, this project foreshadows that the government is apparently planning to continue to invest in Puerto Armuelles, which is good news for Burica residents who will benefit from additional services and consumer goods nearby.
Another major infrastructure improvement that’s coming is the expansion of the airport in nearby David. When the current expansion and renovation are completed, the Enrique Malek International Airport will be able to open its runways to flights from the U.S. and many other nations that were previously unable to access this region directly.
The Clock Is Ticking for Burica, Panama Real Estate
These infrastructure improvements, which will infinitely improve access to Burica, could mean a tremendous influx of tourists, expats, and investors to the area. That’s nothing but good news for us pioneers.
But it’s also a compelling incentive to act quickly. Burica may be one of Panama’s last frontiers, but it won’t stay that way forever. Check out our Burica, Panama real estate page for what’s currently available in the area. If you think Burica could be your dream destination, the time to act is now.
Buying property overseas can be an attractive proposition, both in terms of some incredible views as well as some great investment opportunities. However, due to the unique nature of international real estate, it’s important to keep a few things in mind to help the process go smoothly.
Taylor White
Here are eight tips for house hunting overseas.
1. Keep an open mind.
You may have a specific location or type of property in mind, but you should always go into the process willing to consider a number of options. By doing so, many expats and investors have inadvertently stumbled onto some incredible gems they might not have otherwise considered.
Don’t limit yourself by looking at only specific styles of homes or those in a certain neighborhood.
2. Work with trusted professionals.
No matter how much research you do, no one can know the local market and the nuances of the buying process as well as a local professional with years of experience. However, don’t automatically assume that anyone with the right title can do the job.
Make sure to get plenty of references and solicit the advice of other expats when choosing who to work with.
3. Get to know the area.
Before buying property in a certain town or region, it’s important to know it as well as you can. What’s the weather like? How about in the off-season?
And what about crime? Is that an issue? Consider the needs of your family to make sure the schools, health care, and other services match up with what you require.
Costa Rica Beauty
4. Don’t buy the first place you see.
Potential expats are often blown away when they realize what their money will buy in their desired location vs. what they would pay for a comparable property back home. But that’s no reason to jump at the first opportunity that comes along.
By seeing numerous properties and comparing their prices and amenities you can enjoy your new home feeling like you paid a fair price for it.
5. And, for heaven’s sake, don’t buy anything you haven’t seen.
You’d think this one goes without saying, but it doesn’t. So we have to say it anyway. You can look at pictures of a property ’til the cows come home, but there’s no substitute for seeing it for yourself.
A realtor might fail to mention that the amazing listing she sent you sits right next to the public dump or that the road to the property stays completely washed out during the rainy season.
6. Do your due diligence.
International real estate can be tricky, especially when it comes to titles, liens, and other legal concerns. Before making an offer, it’s important to thoroughly research the ownership of the property as well as verifying that all appropriate permits, easements, and other permissions are in order.
The same goes for property inspections. Unless you’re prepared to end up having to level the house and start from scratch, make sure the construction is sound.
7. Thoroughly vet potential developers.
When buying a pre-construction home in a new development, it’s even more important to do your homework. Get references. Research previous projects. Read the fine print. Developers promise a lot, and you want to make sure yours can guarantee that the end result will look like the colorful computer-generated images in his brochure.
You’ll also want to think about how you’re going to monitor the progress of the development during the construction period.
Roman Königshofer
8. Sleep on it.
Realtors and developers are skilled marketers. They’ve been known to make a hard sell and try to persuade potential buyers to sign on the dotted line and make a deposit while they’re right there on the property. Don’t fall for it.
Instead, take some time to think about it. See if you still feel as strongly about the property when you’re not standing on it. While it may be a perfectly good decision, you’ll never regret giving yourself 24 hours to be 100% certain it’s the right one for you.
Buying property overseas can be an intimidating idea, especially for first-timers. Employing these tips can save you anywhere from a few headaches all the way up to thousands of dollars in costly mistakes. Don’t hesitate any longer. Open up your mind to the possibilities!
They say a picture is worth a thousand words. So when it comes to convincing you as to why you should consider living in Dominical, Costa Rica, all I should really have to do is show you this.
Josh Linnes
That’s the view from what will be the site of our next development, high on a hill overlooking the beautiful Pacific Ocean and arguably the best surfing destination in Costa Rica.
Still not convinced?
Well, just in case you need a little additional persuasion, here are 4 more great reasons Dominical, Costa Rica, is THE best place to live and invest in Central America.
It’s Quintessential Costa Rica
When most people think about Costa Rica, they picture magnificent lush green mountains teeming with wildlife that tumble directly down onto sandy white beaches where impressive waves wash up under the shady palms.
It sounds like a postcard. And it’s exactly what you’ll find on the shores of Dominical.
Not only does it look like the Costa Rica ideal, it has the same natural, laid-back feel you’d expect from a top tropical destination. From all the surf schools and yoga studios to the rainforests and caves to explore.
Dominical also boasts enough development and consumer options to get you by, but it’s far from becoming North Americanized or touristy. Most of the streets in town are unpaved, giving it a quaint, rustic feel.
PROVíctor Bautista
Dominical Is in a Great Spot Development-wise
On that note, it’s also worth mentioning that Dominical is currently at a crucial turning point in its development. While most of the roads within the city limits are dirt, the highway leading TO Dominical has been recently paved.
As a result of this improved access, things just got a lot more interesting in and around Dominical, Costa Rica. Property values are on the rise. New developments are being planned all over the area, ours included. This little town is really taking off.
But, wait. Don’t freak out and think that Dominical is riding some bubble that’s about to burst or that it’s on its way to becoming a tourist trap. Dominical has a long way to go to catch up with some of the other popular destinations in Costa Rica. And there are still some great deals to be had on real estate in Dominical.
So, its rapid development doesn’t mean it’s time to get outta Dodge. It means that big things are happening in Dominical, and you could be a part of them.
Surfing Is Only the Beginning of What Dominical Offers
If you’ve considered Dominical as a possible destination, but worried that it’s only appealing to surfers…think again. Yes, surfing is the number one draw for the majority of people who visit Dominical, but it certainly isn’t a requirement for those who want to live in this coastal paradise.
There are a ton of other things to see, do, and enjoy around Dominical. Here are a few:
- Mangrove exploration – These habitats are disappearing rapidly across the planet, but there are plenty to explore near Dominical. You can hop in a kayak and get up close and personal with all manner of birds, reptiles, and plants that are indigenous to these environments.
- Corcovado National Park – Ranked the third best national park in the world by National Geographic, this 103,000 acre park is home to 140 different mammals, 400 types of birds, plus monkeys, jaguars, and sea turtles.
- Fresh seafood – If you’re into fishing, the waters off Dominical are prime for catching sailfish, marlin, yellowfin tuna, mahi-mahi, and more. If you don’t want to reel in your own, there are plenty of restaurants where you can enjoy the fresh catch while you sit beachside with your toes in the sand. There’s also plenty of fresh produce sourced from the mountain farms.
- Jungle tours – Hop on an ATV or even a horse and head inland to enjoy the beautiful rainforests, waterfalls, and wildlife. The Nauyaca Waterfalls are a popular destination nearby, and zip lining through the canopy is a favorite activity of land adventurers.
- Whale watching – The Marino Ballena National Park is an incredible place to see humpback whales. This marine park is a short distance from Dominical.
- Diving and Snorkeling – Another popular day trip from Dominical is Cano Island, which offers some of the best adventure diving in the world. This island boasts an incredible variety of marine life.
Christian Haugen
But the Surfing Is Hard to Beat
I can’t talk about all those other things without at least letting the surfing in Dominical have its fair mention. Because it’s incredible.
With waves over 10 feet high, four kilometers of sandy beach, and warm water, Dominical is a surfer’s paradise. It has long attracted surfers from all over the world.
And, even if you’re not quite ready to tackle some monster waves, there are plenty of surf schools that can help you get the hang of it. And, if not, at least you know that there are plenty of other activities to keep you occupied in Dominical.
There’s a lot more to love about Dominical, Costa Rica, but there’s nothing that compares to experiencing it firsthand. Just think, if that one photo can evoke such strong emotions, what must it be like to see it for yourself?