The Costa Rica Real Estate Expert

Last updated February 12, 2008 

Costa Rica has an excellent healthcare system that consists of private and public (government run) medical facilities.

Here is an ever-expanding list of medical facilities throughout Costa Rica:

Cartago

Clinica Biblica (satellite site)
Phone:  506-551-0511

Doctor on site, as well as a pharmacy. 

Heredia

Clinica Biblica (satellite site)
Phone:  506-260-4959

Doctor on site, as well as a pharmacy.

Jaco

Clinic CARE
Phone:  506-643-4300
Email:  emergenciascare@racsa.co.cr

This is a private clinic intended primarily for emergency care, also offering ambulance transport services to larger facilities in San Jose.

Clinica Hospital Santa Catalina (satellite site)
Phone:  506-643-5059
Email:  info@gruposantacatalina.com
Website:  http://www.gruposantacatalina.com/eng/index.php
Location:  400 este Pops Jacó, Puntarenas

This is a satellite facility of the much larger Clinica Hospital Santa Catalina located in San Jose.  This facility boasts many English speaking, qualified dentists and doctors

San Francisco de Dos Ríos

Clinica Biblica (satellite site)
Phone:  506-218-0035

Doctor on site, as well as a pharmacy.

Clinica Hospital Santa Catalina (satellite site)
Phone:  506-218-1717
Email:  info@gruposantacatalina.com
Website:  http://www.gruposantacatalina.com/eng/index.php

Location:  San Francisco de Dos Ríos, del parque Okayama 50 sur

This is a satellite facility of the much larger Clinica Hospital Santa Catalina located in San Jose.  This facility boasts many English speaking, qualified dentists and doctors

San Jose

Clinica Biblica (main facility)
Phone:  506-522-1000 or 800-911-0800
Fax:  506-258-7184
Email:  info@clinicabiblica.com
Website:  http://www.clinicabiblica.com
Insurance:

• Blue Cross/Blue Shield
• Cigna International
• Aetna Global
• United HealthCare
• Prudential
• Humana
• Secure Horizons
• See more…
• Expects to be affiliated with Medicare in 2008

Staffed with highly trained doctors.  Facilities include an ER, maternity ward, MRI equipment, and a lab.  The hospital is currently adding a large, new wing. 

Clinica Biblica also has an International Department to specifically provide excellent customer service tailored to the foreigner.  They also have a corporate partnership with HomeWatch, which provides specialized home care services for the elderly, patients recovering from surgery, people recovering from plastic surgery, and a host of other situations.  Check with your long term care insurance plan to see if they will cover the services from HomeWatch.

Clinica Catolica (a.k.a. Hospital La Catolica)
Phone:  506-246-3000
Fax:  506-283-6171
Email:  info@clinicacatolica.com
Website:  http://www.hospitallacatolica.com/eng/indexeng.html
Location:  Guadelupe, suburb of San Jose.

Complete hospital and emergency services 24/7. 

Clinica Hospital Santa Catalina
Phone:  506-250-5059
Website:  http://www.gruposantacatalina.com/eng/index.php
Location:  Costado Este de la plaza de deportes de Gravilias, Desamparados, San José

This private hospital provides emergency services, dentistry, opthalmic services, gynecology, dermatology, cardiology, and a number of other medical services.  They also boast a medical imaging center and a pharmacy which is open 24/7. 

Clinica Hospital Santa Catalina also has satellite offices in San Francisco and Jaco.

Hospital CIMA San Jose
Phone:  506-208-1000
Fax:  506-208-1001
Email:  cima@hospitalcima.com
Website:  Click here to view the English version of CIMA’s website, translated by Google.
Location:  Escazu of San Jose.  See map.

CIMA is the most well known medical facility in all of Costa Rica, and for good reason.  It was built around 2000 and is affiliated with Baylor University in Texas.  CIMA has all the modern conveniences of a hospital in North America, with high tech equipment and well trained doctors and nurses.

CIMA provides emergency services, surgeries, laboratory services, psychiatry, physiotherapy, medical imaging, a pharmacy, and numerous other services.

San Pedro

Clinica Biblica (satellite site)
Phone:  506-283-6058
Location:  San Pedro mall

Doctor on site, as well as a pharmacy.

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Through our travel professionals, we have to offer a 7 day “Taste of Costa Rica” land-only tour originating from the Daniel Oduber International airport in Liberia, Guanacaste, Costa Rica.  Pricing for this tour starts at $769 CAD (similar to US funds), per person.  Airfare is extra.

Arenal

From Liberia, you will head to intimate Arenal Lodge which offers up some fantastic views of Arenal Volcano.  During your 3 day stay you will have a chance to reconnect with nature, as lush landscaping will surround you.

Discover your wild side as you fly through the treetops on an Arenal Paraiso Canopy Tour.  In addition to the thrilling ride you’ll get riding along cables from treetop platforms, the views will be unsurpassed.

On the Wildlife River Cruise, you’ll get to see unique and splendid wildlife that until then had only been seen by you on the television.

Pacific Coast

The remainder of your stay will be at your choice of one of the following hotels along the Pacific coast of Costa Rica:

1. Tamarindo Diria Beach & Golf Resort
2. Barcelo Langosta Beach
3. Flamingo Beach Resort

While here, grab your sunscreen and a beach towel and bask in the warm, golden sun!  Or grab a round of golf before lunch on the patio of a local restaurant.  How about a little shopping?  The point is, take it easy and let Costa Rica take care of you!

And while you are in the area, falling in love with Costa Rica, why not take a moment to visit some fantastic properties in the area.  Minutes from Tamarindo you’ll find Naturalia, a luxury condo that’s just a short walk to the beach.

Not much further away you’ll also find Colinas Del Coyolar, a gated community of lots where you can buy and build for under $200,000!  Colinas Del Coyolar is perfect for any type of buyer - investor, second home owner, or a retiree. 

Your stay comes to an end as you return to Daniel Oduber International airport in Liberia for your flight back home.

Make Your Plans Today!

Are you ready for your break from winter?  Are you ready to find your Costa Rican vacation home?  Then contact us today for a quote to get your Taste of Costa Rica!

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Even though Costa Rica is a small country - about the size of West Virginia, or 1/10 the size of Alberta - it is still quite diverse offering up a variety of landscape and climates.  There are beaches, rainforests, mountains, and 2 coasts very different from each other.  This makes the number of different options for places to live quite numerous.

Though the majority of foreigners who are looking to buy real estate in Costa Rica are interested in Pacific beachfront or “beach-close” (my own term, indicating that a property is a short walk to the beach), there are others who would like something in the mountain areas or even on the Caribbean side of the country.  Some people are looking for an investment or vacation/investment, while others don’t wish to rent out their property and instead plan on retiring there full or part time.  Whatever you are looking for in Costa Rica, there are definitely certain properties that lend themselves better to certain uses or situations.

For those of you that are concerned about the value of your Costa Rican home - more specifically about appreciation - there is no need for concern.  With annual appreciation rates of foreign-owned homes, in the range of 10-30%+ (highest in the coastal areas), you can rest assured that your Costa Rica real estate purchase will experience healthy appreciation, wherever or whatever you buy.

So, the first step in starting your property search is to sit down with any other decision makers (spouse, investment partner, etc.) and make a list of the following things:

1. Location - do you want beachfront, “beach-close”, mountain property?  Is there a specific city, town, or region you are interested in?
2. Usage - how do you intend on using your Costa Rica property?  Investment?  Vacation?  Retirement?  A combination of any of these?  Or maybe you even want to move to Costa Rica full time?  Are you okay with renting the property when you aren’t there?
3. Budget - Just like anywhere, property values vary from region to region.  Get a good idea in your mind of what your budget will be.
4. Conveniences & activities - How close do you want to be to all the conveniences like shopping, grocery stores, restaurants, etc?  How about proximity to activities or sights like golf, surfing, fishing, or national parks?  Do you want to be in the heart of the activity or in a more private location?
5. Property type - You might be able to get a good deal by building.  Or maybe you prefer a condo?  Looking for a lot to invest in?  Consider your options carefully, but remain as open as possible to as many possibilities.  Of course, if you cringe at the thought of building in another country, or don’t want to be directly next to your neighbors in a condo, just cross that off the list.
6. Property details - How many bedrooms and bathrooms do you need?  What sort of amenities would you like?

Now that you have put together your Costa Rica property “wish list”, fill out our Personalized Property Search form for a specialized property recommendation from one of our Costa Rica real estate specialists.  We’ll review your wish list and recommend a selection of properties that are a best fit for your needs.  And if for some reason we do not have a property that we can recommend (it’s rare, but it happens), we can refer you to one of our affiliates who may have something that would be a fit for you.

One last note - the final step is to go down to Costa Rica and see the properties for yourself.  It is recommended that you not only check out the properties that were recommended to you, but to look at others.  You may be surprised to find that a particular property didn’t appear to be a fit for you on paper, but in reality is perfect when you see it in person.  Give each property a chance, or you might miss out on a gem!

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Negative movements in the exchange rate can drastically increase the cost of property to Canadians 

If you are a Canadian looking to buy property in Costa Rica, you will inevitably need to transfer your currency to US dollars to buy the property or arrange financing.  Canadian buyers should pay close attention to the USD/CAD exchange rate, as volatility in the currency markets can have drastic repercussions on the final Canadian dollar (CAD) cost of an American property priced in US dollars (USD).

For example, a Canadian buyer wants to purchase a property in Costa Rica priced at $300,000 USD.  In the first week of November 2007, it would have cost approximately $271,500 CAD (USD/CAD = .9050).  One month later in December 2007 the same property would have increased in cost due to the exchange rate to $306,000 CAD (USD/CAD = 1.0214).  In other words, the property in one month became $34,500 CAD (over 12%) more expensive to a Canadian!

Currency exchange specialists like HiFX can help you protect against currency fluctuations that would increase the cost of your property by locking in an exchange rate for up to two years with a ‘forward contract’.  This service can be useful if you have a lengthy closing period or future property payments.  With a ‘forward contract’ you will have locked in the cost of the property in CAD and will be unaffected by any volatility in the currency market.  HiFX provides ‘forward contracts’ free of cost and requires only a 10% deposit.

Canadians have amazing purchasing power today

Fortunately for Canadians, now is an attractive time to look for a property in Costa Rica as CAD has strengthened heavily against the USD over the last few years, making property in Costa Rica even less expensive.  On September 20^th, 2007, the Canadian dollar reached parity against the US dollar for the first time since 1976.  This means that Canadians have more purchasing power now than they have in the last 31 years!

If a Canadian buyer was looking to buy a $300,000 USD property in Costa Rica in January 2008 it would cost approximately $300,000 CAD.  If five years ago the Canadian had been looking to buy the same $300,000 USD property, it would have cost them a staggering $485,000 CAD.  In other words, the same property is now $185,000 CAD (almost 40%) cheaper than it was five years ago!

Use a currency specialist to pay for your property

Working with a currency exchange specialist to make property payments can not only save you time and hassle, it can also save you money. The fact is that many individuals will simply use the exchange rate offered by their personal bank. Currency specialists can typically offer more competitive rates of exchange than personal banks, to save you on the cost of your property. The bank may also charge wire transfer fees, commissions, and bank receiving fees. Many individuals don’t realize there are better alternatives available to them.

HiFX has seen an average savings of 1%-4% of the transaction amount for its clients, and in addition will transfer funds free of charge.  On larger transfers the savings can turn into thousands of dollars.  HiFX does not speculate with funds and all funds are held in a secure private client trust account at the Bank of Montreal in Canada.  It may be worth speaking with a consultant at HiFX to register for no cost or obligation.

If you have any questions about the currency exchange rates, or would like to learn more about HiFX fee-free currency exchange services, please contact Thomas Wight.

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Are you looking for a property rental in Costa Rica?  Many of the properties that are for sale can also be rented.  That’s a great way to check out a property before you buy it!  Of course, staying there on vacation is great too.

If you are interested in renting, please fill out the form below.

Property Rental Inquiry

1. Your Name (required)
2. Email (valid email required)
3. Day Phone
4. Evening Phone
5. Where are you looking to rent?
6. When are you looking to rent?
7. What is your budget?
8. How many occupants?
9. Why are you looking to rent?
11. Vacation
12. Looking to Buy
13. Moving
14. Business
15. Other
16. Anything else we need to know?

cforms contact form by delicious:days

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This informative guide was provided by Facio Abogados, the top law firm in Costa Rica, and one of Compass Properties’ business affiliates.  You can download it to your computer, read it from there, or even print it out.

Legal Guide for Buying Real Estate in Costa Rica

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Costa Rica in general is a very inexpensive place to live.  Curious about what the costs are for day to day products and services necessary if you are to live in Costa Rica?  Here are some numbers:

• Gallon of milk - $1.75
• Breakfast at Costa Rican restaurant, with drink and tip - $2.50
• Lunch at Costa Rican restaurant, with drink and tip - $3.50
• Nice Filet or Ahi dinner at a nice Costa Rican restaurant - $5.00 to $10.00
• Tropical fruit is 50% less than North America, and a lot tastier
• Men’s haircut - $5.00
• Oil change on your car - $10.00
• Movie at the theatre - $5.00 to $7.00  Popcorn and goodies about $2.00 less
• Movie rentals - $2.00
• Full time driver - $75.00 to $100.00 a day
• Taxis are about 30% less than those in North America
• Dental work is about 50% less than the US
• Hour long massage - $40.00
• House insurance, for a 3 bedroom, 3 bath home - $40.00

 Some things cost about the same as North America:

• Cell phone service for a month - $45.00
• Gallon of gas - $3.75
• Shoes - same as you would find in North America

And some things are just more expensive in Costa Rica:

• Eating at North American chain restaurants - they have to import a lot of the food, so it is more expensive.

Are you curious about the cost of something else in Costa Rica that is not on this list?  Contact me and I’ll find out for you.

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So, what do you think about taking a trip to Costa Rica to find your tropical dream home AND getting paid to do it.  It’s no joke - it’s true!

Compass Properties International and The Costa Rica Real Estate Expert will cover up to $2000 of your Costa Rica travel expenses when you buy a home through us*.  Do you know what kind of trip you can get for $2000?  That could cover a fun-filled, exciting, weeklong trip for two!

While you are on your trip to Costa Rica, you’ll be able to meet with Compass Properties’ colleagues and affiliates who will show you some amazing Costa Rican real estate:

• Lots - build your custom dream home with all the luxuries, like granite countertops, tile floors, crown molding, fine hardwood cabinetry, and more!
• Condos - Beachfront, beach close - your choice!  All located in some wonderful areas close to fantastic sights and activities.

 They will also be able to answer questions you may have about visiting your property, renting your property, maintaining your property, or even moving to your property.

Whether you have already made your travel plans, or would like one of our full-service travel professionals to help you, you can contact us to make arrangements to meet with one of our colleagues or affiliates in Costa Rica for a custom home tour, or to request more information.

Pura vida!

* Valid on select properties only.  Please inquire for more details.

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Okay - so you have decided to buy Costa Rica real estate, or are at least looking into it right now.  You could work with a real estate agent from Costa Rica or with a Costa Rica developer you found on the Internet.  So why choose us?  How are we different?

It’s actually an easy answer:  dedication to providing a safe and comfortable real estate buying experience in Costa Rica.

What?!  That’s it?

Well, isn’t that all you need?  Because in our effort to accomplish this simple statement, we do a lot of not-so-simple things for you:

• Costa Rica & North America Offices - We have colleagues in Costa Rica, Canada, and the US.  This allows us to keep our fingers on the pulse of each market providing for better communication.  Surprisingly, many of the sales peole you will speak with at Costa Rican developments don’t know how to address North American’s concerns and questions about owning foreign real estate.  Neither do they know what our home markets are like, which do affect our buying decisions.
• Developer Review - Before we agree to market a development, we do a thorough “background check” on the developer and the development.  We work with the best attorneys in Costa Rica - Facio Abogados - to make sure that the developer has a good reputation and that their development is being done legally (example:  they are building on land that they own).
• Foreigner-friendly Properties - We know the types of properties that North Americans are looking for, and we seek those out.  They must be in accessible areas, close to “areas of interest”, offer safety/security features, provide property management, and also provide developer financing.  In addition to that, we even offer our input to developers when they are in the design phase of their developments so that they incorporate features that North American buyers are looking for.
• Custom Home Tours - Can you believe that some people want you to give them money so that you can go to see their development to decide if you want to buy there?  Ummmm….  We don’t do that.  You don’t pay to see the properties we are marketing.  Instead, we’ll pay you with our Fly & Buy program, where you can get up to $2000 of your travel expenses reimbursed at the closing table.  To top it off, we partner with full service travel agents who are dedicated to working with you to set up a smooth, worry-free visit to Costa Rica to meet up with our Costa Rican colleagues for home tours.  Of course, we expect that you’ll make the most of this trip and plan to see beautiful Costa Rica.
• Information - You want the information, we’ll find it.  Immigration, schools, cost of living, rental analysis, etc.  We are useful information junkies!  Well, you have to be if you are considering parting with $100’s of thousands of dollars to buy real estate in a country you aren’t familiar with!  Didn’t we say that we wanted to provide a comfortable buying experience?  How comfortable can someone be if they have never seen or visited the property before, or if they don’t even know how they take ownership (FYI:  fee simple, titled ownership - you OWN it).  That’s the reason why we do seminars for interested buyers, as it turns out to be a great venue for sharing our information.
• Financing - No, we don’t offer financing (yet), but we know what all of your financing options are and how to get them!  We have partnered with financing professionals who can help you with whatever financing option is a fit for you.  Confused about your options?  Well, we can help you decide based on your goals and your current financial picture.

So, is this enough for you?

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I am Canadian, but I now live in Southern California.  I didn’t move because I had any aversion to Canada - I moved because it was darn cold in Winnipeg, which is where I lived.

I can’t say that I’m alone in this sentiment though, as every year, thousands of Canadian retirees make the trek South to warmer climates - Arizona, Florida, Canada, Texas, and even a little further south to Mexico.

There is also a small subset of this group that has been fortunate enough to discover Costa Rica, and have made it their winter home for 4 to 6 months out of the year.  So why did this small group of Canadians choose Costa Rica versus the more familiar and closer retirement spots in the US?

Perfect Weather

Lots of reasons.  The first and most obvious is the unequaled climate.  As it turns out, the weather in Costa Rica is at its best during Canada’s winter.  From mid-November to June is the “dry” season in Costa Rica.  Don’t expect the Sahara though!  It will rain during this time, but it will be pleasant, warm showers.

High Quality Healthcare

Another reason that Canadians (and other foreigners) have chosen Costa Rica for their retirement home is because of their fantastic, high quality healthcare system, a hybrid of a private and public system providing healthcare to all.  Many of the private healthcare facilities work hard to accept many foreign health insurance plans, but even when they don’t, the fees are extremely affordable for foreigners.

Safe Living in a Foreign Country

Safety is another important issue that many Canadians consider when looking for a place to retire - domestic or foreign.  Costa Rica shines in this area with very low crime rates.  They do however have a high level of petty theft, but that can be avoided by using some common sense, not flashing money or valuables in public, and staying in well-lit, well known areas.  Besides, most places where North Americans live in Costa Rica have numerous security precautions, like gated, guarded entrances, on-site security, and other security measures.

Hassle-Free Immigration

Another draw that Costa Rica has for retirees is its lenient residency rules.  To enter Costa Rica requires no more than what you would need to cross the border into the US - a passport.  In fact, with your passport you can stay up to 3 months in Costa Rica.  If you want to stay longer, all you need to do is cross the border out of Costa Rica and then re-enter 72 hours later - a good opportunity to visit Panama to the south.  Upon your return, you can stay another 3 months which should be more than enough time for snowbirds to wait out Canada’s winter before their return.

Looking to stay in Costa Rica a little more permanently?  Costa Rica actually has a special visa just for retirees called pensionado.  Obtaining this residency status is within the reach of most retirees, allowing them to stay year-long.

Unlimited Activities

And of course, I have to mention the wealth of activities, sights, sounds, and tastes that Costa Rica has to offer - fishing, golf, parks, water activities, shopping, dining, rainforest tours, and so much more.  Of course, if you are looking for relaxation, you can find that too.

One of the major objections to choosing Costa Rica over some US destination actually has to do with the distance and the travel time to reach Costa Rica.  When you really sit down and think about it though, is travel time to a retirement spot a determining factor, when you have all these others to consider?  How does a 3 hour flight versus 8 hours travel time really differ?  Are you really going to get more out of your retirement spot with those extra 5 hours?  Think about it.

If you have decided to make Costa Rica your retirement home, I would love to hear why.  Leave a comment and share your reasons why you chose Costa Rica!

And if you are considering Costa Rica for a retirement spot, but still have some questions, let me hear from you.

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