Costa Rica Land and Property
Atenas, Costa Rica Real estate

 

Our Exclusive
Rent-To-Own
Program

By Jeff Hickcox

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 savings.

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.

 

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