Many foreigners choose Costa Rica to invest in real estate, many pick this country as the perfect location to have a second home, whether for use as a second residence, a retiring home, vacation home or simply as an investment, houses and land near the beach or in popular expat communities are the most common election.

But is real estate investing in Costa Rica safe?

Costa Rica is a stable country both politically and financially, which makes it one of the safest countries in the region to invest in.

Foreigners can purchase real estate in the country and hold exactly the same rights as locals.

Whether you currently live in Costa Rica or you just visit the country once a year your ownership rights apply just the same; of course, though, it is recommended that as a property owner you have either someone reliable in the country to help you manage your property or you make frequent visits to stay on top of things and ensure the proper maintenance of your estate, this applies even in the case of lots since these too require maintenance; if the land is located outside a residential area or it is a large property, you don’t want it to seem abandoned or neglected, squatters take advantage of these “forgotten” properties by setting up a shack within the property (yes it happens, more often than you think); other problems involve greedy neighbors moving the boundaries if the property is not properly fenced.

The best advice we can give you is to get a reliable real estate agent and a good attorney that can help you get the property that best suits your needs and ensure that all paperwork is in order.

It is advisable to invest in real estate within gated communities and with reliable developers, newly built houses usually have all the legal documents up do date and handy plus all the blueprints and construction information is also available making maintenance less of a hassle.

Find an attorney that has experience or specializes in real estate, make sure he/she runs a complete check on the property you are interested in, some of the things you have to ask: does the property have any liens, annotations or easements? If it’s land, be clear on what the use of land establishes and if possible walk the property with your lawyer and the survey map to make sure all boundaries and information are right. Also, get the exact detail on the property taxes you will be paying on a yearly basis, properties over a certain value also have to pay a luxury tax, get all these details straight before signing.

In general, investing in real estate in Costa Rica is safe, but you have to take all the same precautions you’d take anywhere else and then more; as a foreigner, you might not be familiar with all legal aspects and that’s why getting help from a trustworthy realtor and attorney is worth every penny.

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