Costa Rica is a spot of stunning scenery, sunshine and smiles with spring-like weather all 12 months round, no revenue taxes on overseas earned revenue, no capital features taxes, wonderful world-class medical facilities, 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 77 million ‘baby boomers’ within the USA who started retiring in 2008 and it appears there’s quite a few thinking about a Costa Rica retirement. So too are Canadians and quite a few Europeans who are searching for that perfect climate 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 in their own countries.
If you fear for the lives of your own children because they might be kidnapped in Mexico, Guatemala or Honduras or, you’ve gotten just witnessed the worth of your own home slashed in half as a few of our Venezuelan buddies have just lately, your future can look downproper 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 get pleasure from one of many highest life expectancy ranges within the Western hemisphere and higher living standards than their war-torn neighbors.
Costa Rica’s excellent local weather, laid back lifestyle, financial and political stability makes this ‘rich coast’ seem like paradise on earth to many people.
Enterprise Alternatives: It’s not just people seeking retirement which are visiting Costa Rica. We are seeing young entrepreneurs coming to Costa Rica with goals of establishing their enterprise here.
This is an admirable objective nonetheless; we should remember that having a working data of Spanish will only take you half way. We should do not forget that we are guests in their country, doing business right here may 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 within the USA, real estate in Costa Rica may be very affordable. Foreigners can easily purchase their own homes and a few people have decided to build their own homes.
In response to the Global Property Guide, the cheapest metropolis in Europe is Bucharest the place you’d pay US$three,085 per sq. meter for a 120M2 house (1,291.2 square ft). So most Costa Rica real estate is 40-50% less than the cheapest city in Europe.
You possibly can actually discover luxury condos in Costa Rica for $2,200 per sq. meter however it’s also possible to simply buy a modern, brand new, very comfortable residence wherever 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 have bought a few properties here.
For instance, in 2007 I purchased a new, story 300M2 (3,228 sq. toes) luxurious house (350M lot – 3,766 square feet) in a safe gated rental neighborhood in an amazing location in Santa Ana, constructed by among the best builders we’ve come across priced at US$1,033 per sq. meter.
Property Taxes: When buying a house in Costa Rica, property taxes have to be considered but thankfully there is little to worry about because primary property taxes are only 0.25% and even when your home is extremely-luxurious and the posh property tax additionally applies, it all adds as much as very little..
In line with the Miami Dade County website, on a US$275K property in Miami, you would pay about US$6,875 per year in property taxes. With a luxury house in , the property taxes for a house of the same value could be less than $1,000 per yr so you would save about US $490 monthly just in property taxes.
And for my three,228 sq. ft luxury residence in Costa Rica? I paid about $230 monthly for both monthly maintenance (swimming pool, landscaping, security etc) as well as property taxes.
Building Your Own Home:
In late July 2009 we finished building our 1,797 square toes retirement dwelling (plus 462.sixty eight square ft for the garage space, pila and bodega) on 5,000M2 of land and totally furnished it for less than US$a hundred and forty,000
Building your own dwelling is not for the faint of heart wherever in the world however if you are comfortable with the idea then you definately’ll be delighted to know that your labor prices in are low.
Affordable Price of Living: Only 1% of US households headed by people aged sixty two-seventy two have $1 million or more in assets aside from their home. Now that may sound like a lot of money however $1M today lasts less than 20 years assuming a rate of return of 7%, inflation of three% and inflation-adjusted annual withdrawals of $75K. Folks understand that their money will final lots longer with a Costa Rica retirement.
Having said that, demographically speaking, forty-six % of the baby boomers are nonetheless in their 40s so there are plenty of baby-boomers that haven’t really began to think about their retirement. The more negative the political and financial setting becomes within the USA, the more receptive they will be to the thought of living and retiring abroad.
How Much Is The Food? To provide you a real idea about meals costs, in one of Jo Stuart’s current newspaper columns, she compared the precise cost of a basket of fruits and vegetables purchased here in to the exact objects purchased in a California farmer’s market. She spent US$8.75 right here and the same gadgets in California price US$29.forty seven
The bottom line is when you eat a healthy diet filled with contemporary fruit, recent vegetables, somewhat fish, chicken or beef, you and your family will probably be healthier and you may take pleasure in significant financial savings on food dwelling in Costa Rica.
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