Recently, John Wieland and Daveed Hollander had the opportunity to speak with Haute Magazine about the favoured activities of Costa Rican residents as well as important elements to consider when searching for a house in the region.
As noted in the feature in Haute, Costa Rica has rapidly become a favoured destination for all types of outdoor activities. Home to breathtaking waterfalls and volcanoes, Costa Rica also boasts a wealth of activities, such as white-water rafting and deep-sea fishing. With so many options available, there is truly something for everyone in this tropical paradise.
The Costa Ballena region, situated along the Southern Pacific Coast, is particularly well known for offering activities that appeal to locals as well as tourists. Home to the Whales Tail natural beach formation, this region has also rapidly become popular for whale watching tours as the Antarctic Humpback Whales journey here twice a year. Surfing is also extremely popular in the region, thanks to the ideal conditions just off the coast. Visitors who are looking for more laidback pursuits will find that tours of the year-round waterfalls as well as the jungles with their varied wildlife species make for tranquil activities.
While many people first come to Costa Rica to marvel at the natural beauty, a large percentage end up staying and looking for a home. In their recent feature in Haute, Daveed and John discuss the most important steps that prospective buyers should undertake prior to beginning their search for a home.
Among the major differences that sets the home buying process in Costa Rica apart from that in the United States is that bank financing is not usually involved. In the past, the Costa Rican housing market has primarily been a cash market for foreign buyers. Some sellers may offer seller financing as a short-term solution, but it is important for buyers to have their funding lined up.
Additionally, while Costa Rica may look small on a map, the diverse geology makes it important to carefully consider distance and road conditions, which is one reason why off-road vehicles are the norm.
Buyers should also carefully think about their own personal tax situation before investing on an international basis. Not all accountants have knowledge of the best way to structure foreign investments, so it is important to make sure this facet is adequately covered and that buyers have a solid understanding of the potential tax liabilities they might incur.