Your dream of living in paradise may seem like a far-fetched idea. We,
at Costa Rica Land & Property, have designed a program that
allows you to RENT-TO-OWN in paradise. It is time to
discover Costa Rica and realize your dream!
A NEW rent-to-own real estate program, combined with knowledge of transitioning
to Costa Rica, and the substantially lower cost of living here are the
keys to this innovative program. If you cannot afford to buy a house right
away because you are 1-2 years away from receiving your pension or Social
Security, or you are waiting for your house to sell in your base country,
this lease-purchase program provides you the option of rent-to-own. With
a lease-purchase you will build equity in a rental home of your choice,
and you will lock in today’s real estate prices without making a
large financial commitment upfront.
At the rate the value of Costa Rican real estate is growing the future
appreciation may be quite significant. Whether you decide to purchase
the home or sell your option, the value of your equity will be realized.
In Scott Oliver’s informative book, How to Buy Real Estate in
Costa Rica, he offers the smart advice to rent before you buy. A
rent-to-own is an excellent opportunity to get to know Costa Rica and
your desired area while receiving financial gain from your rental home.
You can rent-to-build or rent-to-look at other properties and either way
you will build equity.
You no longer need a large chunk of money to live in your own home in
Costa Rica. The program requires a deposit of at least 3% of the purchase
price that will be applied to the price when you buy the home. However,
each property is different and a larger deposit may be required. This
deposit guarantees your exclusive right to purchase the property during
the term and secures the current market price of the home. The deposit
is non-refundable if you decide to walk away from the property or if you
default on your lease.
Managing your transition to Costa Rica is nearly as important as finding
the right home in order to realize your dream of living in paradise. Issues
ranging from residency, banking, healthcare, bureaucracy, travel, and
real estate need to be handled properly and efficiently. Navigating through
these issues requires local knowledge and experience dealing with the
labyrinth of red tape in Costa Rica.
The final key to realizing a move to Costa Rica is the low cost of living.
The costs of average monthly bills are; electric $30, phone $25, cable
TV $25, garbage removal $5, and the internet bill is $15. One of those
bills in a typical North American suburb may equal those expenses combined.
Healthcare and food costs are where the most dramatic savings occur. In
her book Living Abroad in Costa Rica, Erin Van Rheenen estimates
that one can live for about 50% less than in North America. And depending
on the type of car and property you desire, you may experience even more
Sample Rent-to-Own Property
Option Purchase Price- $200,000
Monthly Rent - $1,000
Monthly Equity Credit - $500
Deposit Required - $10,000 (5%)
Term - 1 year
When your one-year term is up, assuming the real estate value has gone
up 10%, the deal will be as follows: You will have a house worth $220,000
where only you owe $184,000 ($200,000 OPP - $10,000 deposit - $6000 equity
credits). That is $36,000 in real equity.
There is limited availability for this program. As you can imagine, there
is a shortage of properties that offer this unique opportunity. Please
fill out our client questionnaire by clicking here and we will work to make your dream come true. Consider Costa Rica Land
& Property as your transition specialists and your friends in Costa
Rica. We live here and we are experts in the real estate market. We look
forward to hearing from you.