Retiring In Paradise, Not Florida!

Times have changed. In the 1970s, Florida was the standard retirement relocation destination. This was because most retirees wanted was to live somewhere with decent weather that would make their bones feel better or help their breathing so they could live out their lives in serenity. Then, in the early 1990s, Phoenix and cities around Las Vegas surfaced as alternative, more hip retirement locations. The dream for most of those retirees was to simply live somewhere with ‘arthritis and lung-friendly weather’ that provided activities beyond shuffleboard and Bingo to keep them busy.

Retirees sure didn’t want much back in those days, did they?

Today, retirees are quite different. They’re retiring younger, so serenity is the last thing they want. Ask anyone approaching retirement age and most will say, “Serenity is for my 85 year-old parents! I’ve worked all of my life and now I want to enjoy it.” Instead of serenity, the retirees of the 21st century want warm weather, proximity to medical care, and access to action—golfing, boating, fishing, swimming, nature trails, etc. Then to top it all off, they don’t want to just “get by” in retirement and have to penny pinch for the last 35 or 40 years of their life. They don’t want to wither away, fearful of whether they’ll have enough money in five years. They want to live carefree and enjoy life! That means that the typical retirement locations are out. Florida, Las Vegas, Phoenix, etc. aren’t top choices because the cost of building, renting, or purchasing real estate is too high and the cost of living in those areas just isn’t affordable for most people living on a fixed income. In fact, the cost of living is too high across most of America for the limited monthly income that the average American has to live off of in retirement. Those factors combined have made retirees and pre-retirees seek our alternative retirement locations. Know where they’re headed? Costa Rica.

Does that sound odd to you? …the fact that retirees are considering moving to another country just to retire? Well, get used to it because with all that Costa Rica has to offer for retirees, it just might become the rule for North American retirees rather than the exception. Here’s a look at the top five reasons why retirees are relocating to Costa Rica:

Low Cost Of Living – Retirees can live off of as little of $1,200 each month but with a monthly income of $2,000 per month, they can make mortgage payments, enjoy leisure activities, and even have a maid and/or gardener on hand.

Warm Weather – The tropical conditions in Costa Rica are ideal for those who have cold-weather or breathing sensitive medical conditions.

Proximity To The U.S. – Getting home to see children and grandchildren is easy for retirees. Flights are readily available in and out of Costa Rica to a myriad of U.S. locations; retirees can be back in the U.S. or their family in the U.S. can be in Costa Rica in a matter of hours if the need arose.

Exceptional Real Estate Opportunities – Real estate, on average, is 50% (or more) cheaper in Costa Rica compared to equivalent investments in North America, allowing retirees to downsize their mortgage payments without downsizing their lifestyle.

Costa Rica Real Estate Is An Excellent Investment For Padding Retirement Savings – Between the tourists and the retirees flocking to Costa Rica, the value of real estate is steadily growing. Many Costa Rica real estate investments appreciate at 5 to 10 times the rate of appreciation of property in even the hottest of U.S. locations; Some investors have completely recouped their initial investment in 2 years, and then continued on to collect the significant profits of appreciation on their investment.

Admittedly, deciding to move out of the country is a big decision. It’s not for everybody so I’m going to close out with this advice:

If you’re planning on retiring but aren’t certain about living abroad to do so, now’s the time to buy in the States. It’s a buyer’s market since the real estate industry is experiencing a downturn and you might find an exceptional deal. If, however, retiring in Costa Rica sounds like something that would interest you, look into it! Do the necessary research, much of which can be found through a compilation of resources on the Developing Paradise website, or by simply surfing the Internet, and then weigh your options…without others whispering in your ear!
Remember: It’s your retirement and you have to foot the bill for it, not your friends or family. So, if living in Costa Rica sounds good to you, seriously consider learning more.

by David Lovendahl, Developing Paradise

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