Costa Rica is a spot of stunning scenery, sunshine and smiles with spring-like weather all year round, no income taxes on international earned revenue, no capital good points taxes, wonderful world-class medical amenities, affordable medical plans and populated by the ‘Ticos’ who are an amiable and really attractive people.
Who Is Moving to Costa Rica? There are estimated to be seventy seven million ‘baby boomers’ in the USA who started retiring in 2008 and it appears there’s quite a number of thinking a few Costa Rica retirement. So too are Canadians and numerous Europeans who are on the lookout for that excellent local weather and a more affordable place to live.
Wealthier individuals from all over Central and Latin America are additionally visiting Costa Rica because of political and financial instability of their own countries.
While you fear for the lives of your own children because they might be kidnapped in Mexico, Guatemala or Honduras or, you could have just witnessed the worth of your own home slashed in half as a few of our Venezuelan friends have just lately, your future can look downright terrifying.
Politically Stable Country: Unlike most nations in Central and Latin America, Costa Rica has been a stable and democratic country since it’s independence in 1948. It has no army, and its citizens take pleasure in one of the highest life expectancy ranges within the Western hemisphere and higher dwelling standards than their war-torn neighbors.
Costa Rica’s excellent climate, laid back way of life, financial and political stability makes this ‘rich coast’ seem like paradise on earth to many people.
Enterprise Alternatives: It’s not just individuals searching for retirement which are visiting Costa Rica. We are seeing young entrepreneurs coming to Costa Rica with goals of establishing their business here.
This is an admirable goal nevertheless; we must always do not forget that having a working information of Spanish will only take you half way. We should keep in mind that we are visitors of their country, doing business right here could be challenging because inefficient bureaucracies, redundancies and duplications are part of everyday business.
Affordable Costa Rica Real Estate: Compared with Europe and lots of metropolitan areas in the USA, real estate in Costa Rica is very affordable. Foreigners can simply purchase their own properties and some folks have determined to build their own homes.
Based on the Global Property Guide, the most cost effective metropolis in Europe is Bucharest where you would pay US$three,085 per square meter for a 120M2 residence (1,291.2 sq. feet). So most Costa Rica real estate is forty-50% less than the most cost effective metropolis in Europe.
You’ll be able to definitely find luxury condos in Costa Rica for $2,200 per square meter but it’s also possible to simply buy a contemporary, brand new, very comfortable home anywhere near the business, cultural and leisure centre of San Jose, the capital of Costa Rica for US$1,500 – $1,750 per square meter. I do know this because I’ve purchased a number of properties here.
For example, in 2007 I bought a new, two story 300M2 (three,228 sq. ft) luxury house (350M lot – three,766 square ft) in a safe gated rental community in a great location in Santa Ana, constructed by top-of-the-line builders we have now come across priced at US$1,033 per sq. meter.
Property Taxes: When buying a home in Costa Rica, property taxes have to be considered however thankfully there is little to fret about because basic property taxes are only 0.25% and even if your own home is ultra-luxurious and the luxurious property tax additionally applies, it all adds up to very little..
Based on the Miami Dade County website, on a US$275K property in Miami, you’ll pay about US$6,875 per 12 months in property taxes. With a luxurious apartment in , the property taxes for a house of the identical worth can be less than $1,000 per 12 months so you’d save about US $490 per thirty days just in property taxes.
And for my three,228 square feet luxurious dwelling in Costa Rica? I paid about $230 per 30 days for each monthly maintenance (swimming pool, landscaping, safety and many others) as well as property taxes.
Building Your Own Home:
In late July 2009 we finished building our 1,797 square ft retirement house (plus 462.68 sq. toes for the garage area, pila and bodega) on 5,000M2 of land and totally furnished it for less than US$140,000
Building your own residence will not be for the faint of coronary heart anyplace on the earth however if you are comfortable with the thought then you definitely’ll be delighted to know that your labor prices in are low.
Affordable Value of Living: Only 1% of US households headed by people aged sixty two-72 have $1 million or more in belongings other than their home. Now which may sound like some huge cash however $1M in the present day lasts less than 20 years assuming a rate of return of seven%, inflation of three% and inflation-adjusted annual withdrawals of $75K. People understand that their cash will last rather a lot longer with a Costa Rica retirement.
Having said that, demographically speaking, forty-six % of the baby boomers are still of their 40s so there are plenty of baby-boomers that haven’t really started to think about their retirement. The more negative the political and financial environment becomes in the USA, the more receptive they are going to be to the thought of living and retiring abroad.
How A lot Is The Food? To give you a real thought about meals costs, in considered one of Jo Stuart’s latest newspaper columns, she compared the exact value of a basket of fruits and vegetables purchased right here in to the precise objects purchased in a California farmer’s market. She spent US$8.75 here and the same gadgets in California value US$29.47
The underside line is should you eat a healthy weight loss plan filled with contemporary fruit, recent vegetables, a bit of fish, chicken or beef, you and your family might be healthier and you’ll enjoy significant savings on food residing in Costa Rica.
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