U.S. Retirees Look to Costa Rica for Second Homes

Retirees seeking second homes in warm climates with exotic views are taking a fresh look at Central America. Today’s well-traveled generation of retirees, with their increased longevity and better health, are looking to Central America for locales that offer value, unspoiled natural beauty and good quality of life.

With close proximity to the U.S., and convenient air travel, places like Costa Rica are a retiree’s dream. Bordered on the east by the Caribbean Sea and on the North Pacific Ocean on the west, Costa Rica (translation: Rich Coast) is about the size of West Virginia and boasts 802 miles of coastline. It can be reached by air from most U.S. cities in three to seven hours.

Because of the affordable prices of real estate in Costa Rica, retirees find that their dollars can be stretched further to purchase bigger and more luxurious properties. A second home in an exotic location, particularly one with great potential for appreciation, is a great way to diversify their investment portfolios away from the stock market and into real estate. Another plus is the benefit of being able to pass the property on to their children.

Developers are meeting the demand for second homes in Costa Rica by creating resort-like communities with fantastic amenities such as golf courses, beach clubs, infinity pools and marinas to meet the desires of retirees eager to enjoy their golden years.
The Costa Rican government is not only receptive to international citizens retiring in their lush country, but has rolled out the welcome mat. They actively encourage foreign investment in the country by allowing non-residents to purchase Costa Rican property.

Foreigners are entitled to the same ownership rights as native citizens. In addition, there is no capital gains tax, and property taxes in Costa Rica are very low in comparison to the U.S. and European countries.

In recent years, improvements in Costa Rica’s infrastructure have increased the country’s appeal to foreigners. New airports and better roads have enhanced accessibility. For retirees, improvements in medical care in Costa Rica, including state-of-the-art hospitals that are often staffed by doctors trained in America, make retiring abroad less intimidating.

The relaxed pace of Costa Rica also appeals to the retirement generation. Lazy days on the beach and an afternoon of golf are just want many retirees seek.

With the advent of technology like the Internet and cell phones, retirees find it very easy to keep in touch with people back home. Retiring in Costa Rica doesn’t mean living a life of isolation.

Finally, because of the Internet, buying property in Central America is easier than ever before, allowing prospective investors to research properties and even handle real estate transactions without even leaving their home.

Maria Lopez is a sales agent with Central America Second Homes, a real estate brokerage that specializes in the sale of vacation, investment and retirement property in Central America. The firm offers luxury condos and homes at pre-construction prices in Costa Rica, Panama and Mexico.
Go to Central America Second Homes to view property listings and also to request a FREE copy of the Central America Second Homes Report, an insider’s guide to buying abroad. Or contact Maria Lopez directly at Info@CentralAmericaSecondHomes.com, 305-944-3090.