Costa Rica will turn your realty dreams into a reality but there are a few golden rules you need follow to make them come true. With over 13 years’ experience in the Costa Rica real estate industry I have a fair few stories about property investments gone wrong – so please take my advice.
Make sure your realtor is well connected….
I am the Master Franchise holder for Coldwell Banker in Costa Rica and the co-founder of Coldwell Banker Vesta Group one of the oldest and most recognized firms in the South Pacific of Costa Rica. Since my early beginnings I gave great importance in establishing long lasting relationships with not only my colleagues and clients but also competitors.
…Has a real interest in selling your property
It may sound far-fetched but I have seen it time and time again. Realtors ask you to send photos of your property but never make the effort to see it! My colleagues and I have a distinct advantage – it is mandatory for us to visit all the properties we represent. Anyone can sell real estate by putting up a website and posting listing but I believe that something is to be said for firms that have been around for many years. Ask you broker how long he has worked in the zone and it will make a tremendous difference in what you actually see.
….Is qualified and knowledgeable
James Drews, John Weir and I are members of the Costa Rican Global Association of Realtors and the U.S based National Association of realtors. We’ve created a unique boutique realtor firm where you get access to the experienced minds of 3 professional brokers who actually listen to your needs and are not just driven by commission.
We are all family men and have integrated into the South Pacific community and this is where our children attend school. We believe so much in this location that we have decided that the South Pacific is the best place environment for our families.
…Knows their Portfolio
Time and time again I see realtors taking on more properties than they can handle. Whether you are looking to make a property investment or sell your Costa Rica real estate you need to ensure you are properly represented. Realtors that make the effort to get to know the properties they are selling in detail are more likely to find the property that matches your specifications.
….Understands the potential of their area
The South Pacific of Costa Rica is the hotspot for real estate investment but don’t just take my word for it. The area has benefited from a relatively slow paced development and this has ensured that the tropical landscape has remained intact. With the absence of high rise building’s blocking out the ocean views this is a prime eco tourist destination.
At the end of 2011 the Costa Rican government announced that a new international airport would open Palmar Norte in the South Pacific in 2014. As tourism arrivals so will property values. Here are a couple of examples of the best deals on the South Pacific property market.
* A Small Stylish Hotel reduced from $2.1 to $1.2 million positioned overlooking Playa Uvita. Featuring five luxury cabins with ocean views and within walking distance to the beach. This is a top rated hotel on Trip Advisor and gives investors the perfect opportunity to capitalize on the growing tourism industry in the area.
* Priced at $685k this classical colonial design coastal retreat is only 5 minutes away from the beach. With dramatic ocean views, a spectacular infinity swimming pool, 2,760 square feet of living space this is the ultimate beach property.
And lastly a few Costa Rica real estate myths
Choose the right realtor and you won’t need to work with several – it really is that simple. Pick an experienced, qualified regional realtor who only works for you is the best way to go. Life is based on relationships and nowhere is this more evident than in the real estate world.
Choose to work with one realtor and they will do all the hard work, reviewing listings, carrying out research and finding the best possible deals. Whatever you do, don’t go with all the realtors in the market place – you’ll only become a commission number and the can affect the quality of properties you are shown.
Don’t assume that going directly to the developer will get you a better deal. Qualified realtors will be able to research developments in the area and assess which properties offer the most for the best price.