10 Cost-Saving Secrets for Expats Living in Costa Rica in 2024

Costa Rica’s allure as a haven for expats continues to grow heading into 2025, thanks to its modern yet relaxed lifestyle (think less traffic and more to experience), absolutely spectacular natural beauty (think secluded and pristine jungle rivers with waterfalls minutes off the beaten path), and high quality of life (fresh food, fresh air, fresh water, to name a few). However, living the dream doesn’t have to break the bank. With some strategic planning and insider tips, expats can stretch their dollars or colones while enjoying all that Costa Rica has to offer. Here are 10 cost-saving secrets to help you thrive financially while living the pura vida lifestyle.

1. Choose Your Location Wisely

The cost of living in Costa Rica varies significantly depending on where you settle. While popular expat hubs like Tamarindo and Escazú can be pricey, towns in the South Pacific, such as Ojochal or Uvita, offer more affordable living options without sacrificing amenities or natural beauty. Explore lesser-known areas to find a balance between cost and lifestyle.

2. Embrace Local Markets

Skip the imported goods and shop at farmer’s markets (“ferias”) for fresh, local produce. These markets are not only more affordable than supermarkets, but they also offer a wider variety of fruits, vegetables, and other staples. Seasonal buying can save you even more.

3. Master the Art of Negotiation

Haggling is a common practice in Costa Rica for everything from produce at markets to home repairs. Polite bargaining can result in significant savings, especially for services. Don’t be afraid to ask for a better price.

4. Optimize Your Utilities

Electricity and water can be expensive in Costa Rica, particularly in coastal areas. Save money by using energy-efficient appliances, installing solar panels, and taking advantage of natural ventilation instead of air conditioning. Many expats also collect rainwater to reduce water bills.

5. Use Public Transportation

Owning and maintaining a car in Costa Rica can be costly due to import taxes and fuel prices. Public transportation is reliable and inexpensive, with buses running regularly to most towns and cities. For short distances, consider biking or walking to save even more.

6. Learn the Language

Investing time in learning Spanish will save you money in countless ways. You’ll be able to communicate more effectively with locals, which can help you negotiate better prices and avoid paying the “gringo tax” (inflated prices charged to foreigners).

7. Take Advantage of Residency Benefits

Residency status can unlock significant savings. Expats with legal residency often pay lower fees for healthcare and other services. Familiarize yourself with the residency process and consider hiring a reputable lawyer to streamline the application.

8. Avoid Imported Goods

Imported items, especially electronics and packaged foods, come with steep price tags due to high import taxes. Opt for locally produced alternatives whenever possible to save money and support the local economy.

9. Tap into Costa Rica’s Public Healthcare System

Costa Rica’s public healthcare system, the Caja Costarricense de Seguro Social (CCSS), is one of the best in the region. As a resident, you’ll have access to affordable healthcare through the Caja. Combine this with private insurance for comprehensive coverage without breaking the bank.

10. Work with an Expert Real Estate Team

When it comes to making one of the biggest financial decisions of your life, having a knowledgeable and competent real estate team is invaluable. The right team can help you identify properties with strong resale potential, high rental yields, or opportunities for upgrades that add value. They’ll steer you away from money pits and overpriced listings, saving you significant money in the long run. Working with long-time experts like our team at Osa Tropical Properties ensures you leave no money on the table and invest wisely in Costa Rica’s dynamic real estate market.

Final Thoughts

Living in Costa Rica can be both an adventure and a smart financial decision, especially when you approach it with the right strategies. By applying these cost-saving secrets, you can enjoy the best of this beautiful country while keeping your expenses in check. And when it comes to real estate, partnering with a top-notch team ensures your investment works for you, now and in the future.