Financial Independece
May 13, 2023 in Discover Costa Rica, Discover Costa Ballena, Life in Costa Rica
Independence Day in Costa Rica is more than a historic date. La Dia De La Independencia is a month-long celebration honoring the country’s independence, along with the rest of Central America, from Spanish rule in 1821. During the Mes de la Patria, or “Month of the Nation,” businesses, homes and even cars are decorated with Costa Rican flags, banners, and decorations during this month of historical celebrations. This is very much a celebration of family and children play important roles in the festivities. They spend time preparing by creating lanterns, decorating the home in the country’s colors, and practicing performances for the patriotic parades. The month brings opportunities for connection, reflection, and appreciation for simple pleasures. This year marks the 201st anniversary of Costa Rica's Independence Day and the theme of this year is “El fuego de la Patria nos invita a ser luz”, or "the fire of the Fatherland invites us to be light." So get out into the streets and chant along with the Ticos: "No escogi nacer en Costa Rica, simplemente tuve la bendicion," and "dichosa la madre costarricense que sabe, al dar a luz, que su hijo nunca sera soldado!" Read on to learn more about the history of this event, how it is celebrated today, and how you can participate in the festivities. [caption id="attachment_64218" align="aligncenter" width="720"] Previous to the arrival of the Spanish conquistadors, Costa Rica was an unnamed land on the edge of the Mayan empire to the North in Guanacaste, all the way down to where the Incan influence crept north from Panama. Christopher Columbus first dropped anchor on the Caribbean coast of what is now Costa Rica in 1502. The conquistadors found an organized system of kingdoms ruled by caciques, some more powerful than others. The most famous ruler of the time was Cacique Garabito, king of the western Huetares and the region’s first guerrilla leader. He opposed the practices of the Spaniards and the brutal forced labor imposed on his people. Conquistadors like Juan de Cavallón, the Central Valley’s first explorer (and Garabito’s sworn enemy) settled inland and established a Spanish colony south of what is today’s capital, San José. In 1561, the Spanish began expanding into Costa Rica and founding towns throughout the Central Valley. For the next three hundred years, most of continental America to the south of the United States was part of the Spanish empire. The Kingdom of Spain generated significant wealth from the work of Latin Americans. Costa Rica formed part of the Viceroyalty of New Spain, a large territory that also included Mexico, Guatemala, El Salvador, Honduras, and Nicaragua. Over generations of enslaved people, the voices calling for change became stronger. In 1808, they caught a break when the French general, Napoleon Bonaparte, deposed the Spanish royal family from their throne. Cries for independence created a domino effect across the Spanish Kingdom and independence movements fomented throughout Latin America. This culminated in the Mexican War for Independence from New Spain (1810-1821), which was the most deciding factor in Costa Rica’s independence from foreign rule. Unlike other parts of the Americas, there was no fight for independence in Central America. After being depleted by the war with Napoleon Bonaparte, as well as other Latin American wars, Spain reluctantly supported Central American independence because the region had become a burden to their overstretched resources. Nobility from across the Viceroyalties of New Spain met in Guatemala City in September of 1821 to discuss the future of the colonies of Central America. On the night of September 14, 1821, a Guatemalan woman named Maria Dolores Bedoya is said to have ventured out into Guatemala City to mobilize people to participate in the independence movement. She gathered people to fill the plaza outside of the government building where the nobility were to meet the next morning. Rallying for independence and chanting patriotic lyrics, the plaza filled up with lanterns as the people awaited a decision. On September 15, 1821, while the nobility continued to debate the issue of independence, Bedoya led a celebration among a crowd of advocates outside the palace. With music, fireworks, and a lively crowd, Bedoya's celebration is said to have spurred on the decision to sign for independence, as those inside the palace heard their noises and feared being attacked by the demonstrators. The official Act of Independence was signed by representatives of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua, which all received their freedom from Spain on this day. Although Sept. 15 is the day when independence was declared in Central America, it took a month for the news to arrive in Costa Rica on Oct. 13 because the messenger had to travel by horseback from Guatemala with the official notice. [gallery type="rectangular" size="full" columns="2" ids="64215,64216"] The symbolic torch of independence is a representation of this historic event illustrating the news being spread across the nations by horseback. The torch travels through Central America and is passed along in relay-style from Guatemala City to Cartago, the colonial capital of Costa Rica. Known as ‘the freedom torch,’ it is used to light the cauldron every year on the evening of September 14 and is relayed across Costa Rica by selected students to their various towns. The highlight of the day is the raising of the flag and the singing of the national anthem, and the evening parade of the faroles (colorful lanterns made by children) is a symbolic tribute of the light of the Freedom Torch shared through every town in the nation. [caption id="attachment_64234" align="aligncenter" width="960"] On the morning of September 15, the colors of Costa Rica explode into the streets and homes as the country’s sovereignty is celebrated. This is a day of joy, honor, and festivities for families and the people of Costa Rica. The true spirit of Costa Rica bursts throughout the country and is a pleasure to witness. Patriotic parades take over the towns as people are adorned in traditional costumes with blue, white, and red as far as the eye can see. Costa Rican traditional dances are performed where the folk dance known as Punto Guanacasteco is beautifully displayed. Music of the school marching band, drumming, baton twirling, and patriotic hymns fill the streets of every town. Students practice for months in advance to show their patriotism on this day. The flag plays an important role in the day being raised in honor of Costa Rica’s Independence Day and is predominant throughout the parades of the day. The colors are strong and vibrant like its people. Red represents the generosity of the nation’s citizens as well as the blood shed to defend the country, white symbolizes peace, and blue symbolizes the color of the sky and the idealism of the country and its people. These colors and their meanings are hoisted with dignity and pride, and carried throughout the main streets and towns by children. Costa Rica traditional clothing for men is usually white cotton pants and a white button-up shirt with a red sash belt, a red handkerchief tied at the neck, and a straw hat. Women wear long, flowing, vivid multi-colored skirts in layers, with a white, ruffled, sleeveless blouse (usually embroidered or with ribbons), a choker band necklace, and their hair pulled up in complicated braids or a bun and decorated with a big flower. [caption id="attachment_64230" align="aligncenter" width="576"]
Costa Rica's Independence Day parade on September 15, 2022 in Cortes, Costa Rica[/caption]A History of Costa Rica’s Independence Day
Traditions Surrounding Costa Rican Independence Day
The children's torch relay running the flame from Cartago south to the Southern Zone[/caption] After the country’s singing of the national anthem, the streets come alive with the lights of the children. Known as the desfile de faroles, or lantern parade, families take to the main streets of town with their glowing creations. These candle or LED lit designs of elaborate houses, churches, wildlife, or colorful oxcarts are paraded in a festive manner high in the air surrounded by the sound of music and school bands. There is often a friendly competition between the students to create the most impressive faroles awarded at the end of their walk. [gallery type="rectangular" columns="2" size="full" ids="64233,64232"] The parade of the lanterns became an annual tradition in 1953 when Professor Víctor Manuel Ureña, the provincial director of the schools in San José, began with close to 10,000 children. He instilled and encouraged pride within the country, which evolved throughout the years into the national cultural tradition that is celebrated to this day. [gallery type="rectangular" columns="2" size="gallery-two-column-image" ids="64214,64222"]Costa Rican Independence Day
Osa Tropical Properties' broker, Kevin Champage, and his family at this year's September 15th festivities in Ciudad Cortes[/caption] This year, Costa Rica celebrated its 201st year of independence from Spain on Sept. 15. If you would like to celebrate the 202nd year of independence of this great country while living within its borders next year, contact our team today at info@osatropicalproperties.com and let us help you on your journey to your dreams.
May 12, 2023
Financial independence and early retirement (FI/RE) are two linked dreams that have become a reality for many who choose to retire early in Costa Rica. When you think retirement age, you probably think of someone in their late 50s or 60s. While this has been the standard age for decades, people who strive for FI/RE retire much earlier, usually in their 40s, 30s, and even 20s. Imagine for a second that you are able to afford your dream life in Costa Rica, no matter your age. Creating your plan for financial independence and early retirement can involve kicking back on the pristine beaches of the Costa Ballena most afternoons with a cooler of beer, warm friends and a colorful sunset. Perhaps learning how to surf on Costa Ballena's consistent breaks might be your way of maximizing the extra hours offered by our early morning, vivid blue sky sunrises. You, too, can live your most vibrant life by focusing on your health while managing your wealth from within a growing real estate and rentals market. Economies are changing all over the world. Resourceful people are choosing to be more self-sufficient. When it comes to obtaining lasting financial fulfillment from a long-term career at one company, our trust is waning. Instead, people who FI/RE are choosing to focus on building investments and passive income streams so that we can live our best lives as early as possible. Financial independence is typically defined as having enough income (from investments, passive businesses, real estate, etc) to pay for your reasonable living expenses for the rest of your life. You have the freedom to do what you want with your time (within reason). Working (full or part-time), hobbies which generate income, or other activities are optional at this point. There are three main paths for achieving FI/RE: “Financial independence ultimately means that you can shape your life without taking money into consideration,” said Tanja Hester, a recent FI/RE graduate and founder of the website Our Next Life. “Most of us have to consider our finances in nearly every decision we make or maybe even make decisions solely based on money. But once we reach financial independence, we get the freedom not to be bossed around by what we earn or what we have saved.” Retiring overseas can provide a more fulfilling and less expensive lifestyle. Compared to some of the more popular retirement destinations within the United States, Canada, and Europe, South Pacific Costa Rica can be much less than half of the cost of living with the right FI/RE strategy. There are a number of reasons to FI/RE in Costa Rica. Our South Pacific region, locally known as the Costa Ballena (Whale Coast) is a great example of a growing real estate and rentals market. Just in the last 5 years, tourism has grown by nearly half a million visitors. For a country of only 4 million to receive over three million foreign visitors last year is impressive and the trends in ecotourism are pointing to continued growth. To accompany this growth in tourism, there are increasing examples of entrepreneurs who have chosen Costa Rica as a part of their investment strategy. Below, we will focus on our top three reasons why we recommend Costa Rica as a safe financial plan for financial independence and early retirement (with caveats). Residing in Costa Rica is not the least expensive place that you can choose to live abroad. But if you are from any major city in Canada, the United States or Europe, you will likely pay significantly less for property taxes in Costa Rica. The average three-bedroom ocean view home situated in the gorgeous mountain communities above Uvita, Costa Rica costs around $700,000 (this number skews high because the incredible view lends itself to high-end luxury homes). Regardless, this works out to around $1800 annual property taxes for a beautiful, modern home with a dazzling ocean view. Compare this to paying $8100 USD in annual taxes for a similar property in the popular retirement communities of Lagos, Portugal. Or nearly $10,000 USD for a standard three-bedroom home in Orange County. Ouch. Reduce your living expenses on everyday things like healthcare, food, water, and electricity. Many couples who live in Costa Rica spend less than $25,000 annually while renting a home in Ojochal, Costa Rica. Learn self-sufficiency by spending more time doing things for yourself. Our Costa Ballena communities are still growing and so it is not always possible to find that part of that person who can help in a pinch. It is often that we end up waiting or finding solutions for ourselves. Many who FI/RE in Costa Rica end up becoming more resourceful and growing their skills in daily maintenance and typical repairs. Our growing Costa Ballena communities are seeing significant increases in expats and tourists over the last five years. This means that real estate can be a truly viable option for achieving FI/RE with the help of your investments in Costa Rica. Most real estate investors who FI/RE will want to sell their real estate investment after growth of around $100-$150k. Despite seeing a few inflated prices in the local real estate market, our recent sellers who have also bought their properties in the past few years have seen considerable growth in quality property value over the last five years. Those entrepreneurial enough to build can expect to pay around $125/sq.ft for today's beautiful modern builds (blueprints, building permits, pool and landscaping installations, furnishings and appliance costs are additional). Place that lovely new home on a gorgeous, two-acre, ocean view lot in Dominical and you have yourself a recipe for real estate investment growth in our Costa Ballena real estate market. Our Costa Ballena rentals market is thriving with many of the regions best offerings seeing an average of 70% annual occupancy rates. Some recent buyers of ours are seeing immediate rental returns of 8-10%, which is comparable to the US stock market average returns for a far more fun investment opportunity. Imagine receiving a steady rental income from a place that you truly enjoy visiting, too (in the off-season, if you don't want to impede your maximum FI/RE pace). Many investors prefer investing in real estate because it is a tangible asset you can use. The purpose of moving to Costa Rica for a vast majority of us was to enjoy a healthier lifestyle. Here, you can experience more travel, adventure, and fun within your neighborhood. There are numerous natural wonders to visit in and around the Southern Zone of Costa Rica. This is a place where life can feel like you're on holiday every day thanks to the warm sun, fresh air and plentiful, beautiful wildlife. In the Costa Ballena, we live in a part of the world where it is easy to feel inspired; to wake up and seize the day, every day. We live in a community where small business people feel supported by their local community. Many have turned their hobbies and passions into fruitful entrepreneurship. Handy gardeners may turn their crops into successful small businesses by selling jams, pickles, cheeses, and bread. And skilled craftspeople have found a sizable market of people looking for something new and exciting. No matter your passion, Costa Rica is a place that welcomes you to explore your potential. Not every financial plan is a good plan, no matter the location. Every investment decision requires careful consideration. There are often the right ways and wrong ways to invest your money. Expert advice is essential for those who are not educated in an investment market and Costa Rica is unfamiliar ground for most people. Talk to our knowledgeable agents who are also experienced investors in Costa Ballena real estate. Please contact our office to learn more about our local real estate and rental market trends and the full cost of living in the Southern Zone. Stay tuned for next week’s article about a few Osa Tropical Properties clients who have found FIRE in Costa Rica. What is financial independence (FI)?
Why choose Costa Rica for FIRE?
Spend less/save more
Earn more
Boost your quality of life (while cutting your budget)
Caveats to achieving FIRE in Costa Rica
May 13, 2023 in Discover Costa Rica, Discover Costa Ballena, Life in Costa Rica
Independence Day in Costa Rica is more than a historic date. La Dia De La Independencia is a month-long celebration honoring the country’s independence, along with the rest of Central America, from Spanish rule in 1821. During the Mes de la Patria, or “Month of the Nation,” businesses, homes and even cars are decorated with Costa Rican flags, banners, and decorations during this month of historical celebrations. This is very much a celebration of family and children play important roles in the festivities. They spend time preparing by creating lanterns, decorating the home in the country’s colors, and practicing performances for the patriotic parades. The month brings opportunities for connection, reflection, and appreciation for simple pleasures. This year marks the 201st anniversary of Costa Rica's Independence Day and the theme of this year is “El fuego de la Patria nos invita a ser luz”, or "the fire of the Fatherland invites us to be light." So get out into the streets and chant along with the Ticos: "No escogi nacer en Costa Rica, simplemente tuve la bendicion," and "dichosa la madre costarricense que sabe, al dar a luz, que su hijo nunca sera soldado!" Read on to learn more about the history of this event, how it is celebrated today, and how you can participate in the festivities. [caption id="attachment_64218" align="aligncenter" width="720"] Previous to the arrival of the Spanish conquistadors, Costa Rica was an unnamed land on the edge of the Mayan empire to the North in Guanacaste, all the way down to where the Incan influence crept north from Panama. Christopher Columbus first dropped anchor on the Caribbean coast of what is now Costa Rica in 1502. The conquistadors found an organized system of kingdoms ruled by caciques, some more powerful than others. The most famous ruler of the time was Cacique Garabito, king of the western Huetares and the region’s first guerrilla leader. He opposed the practices of the Spaniards and the brutal forced labor imposed on his people. Conquistadors like Juan de Cavallón, the Central Valley’s first explorer (and Garabito’s sworn enemy) settled inland and established a Spanish colony south of what is today’s capital, San José. In 1561, the Spanish began expanding into Costa Rica and founding towns throughout the Central Valley. For the next three hundred years, most of continental America to the south of the United States was part of the Spanish empire. The Kingdom of Spain generated significant wealth from the work of Latin Americans. Costa Rica formed part of the Viceroyalty of New Spain, a large territory that also included Mexico, Guatemala, El Salvador, Honduras, and Nicaragua. Over generations of enslaved people, the voices calling for change became stronger. In 1808, they caught a break when the French general, Napoleon Bonaparte, deposed the Spanish royal family from their throne. Cries for independence created a domino effect across the Spanish Kingdom and independence movements fomented throughout Latin America. This culminated in the Mexican War for Independence from New Spain (1810-1821), which was the most deciding factor in Costa Rica’s independence from foreign rule. Unlike other parts of the Americas, there was no fight for independence in Central America. After being depleted by the war with Napoleon Bonaparte, as well as other Latin American wars, Spain reluctantly supported Central American independence because the region had become a burden to their overstretched resources. Nobility from across the Viceroyalties of New Spain met in Guatemala City in September of 1821 to discuss the future of the colonies of Central America. On the night of September 14, 1821, a Guatemalan woman named Maria Dolores Bedoya is said to have ventured out into Guatemala City to mobilize people to participate in the independence movement. She gathered people to fill the plaza outside of the government building where the nobility were to meet the next morning. Rallying for independence and chanting patriotic lyrics, the plaza filled up with lanterns as the people awaited a decision. On September 15, 1821, while the nobility continued to debate the issue of independence, Bedoya led a celebration among a crowd of advocates outside the palace. With music, fireworks, and a lively crowd, Bedoya's celebration is said to have spurred on the decision to sign for independence, as those inside the palace heard their noises and feared being attacked by the demonstrators. The official Act of Independence was signed by representatives of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua, which all received their freedom from Spain on this day. Although Sept. 15 is the day when independence was declared in Central America, it took a month for the news to arrive in Costa Rica on Oct. 13 because the messenger had to travel by horseback from Guatemala with the official notice. [gallery type="rectangular" size="full" columns="2" ids="64215,64216"] The symbolic torch of independence is a representation of this historic event illustrating the news being spread across the nations by horseback. The torch travels through Central America and is passed along in relay-style from Guatemala City to Cartago, the colonial capital of Costa Rica. Known as ‘the freedom torch,’ it is used to light the cauldron every year on the evening of September 14 and is relayed across Costa Rica by selected students to their various towns. The highlight of the day is the raising of the flag and the singing of the national anthem, and the evening parade of the faroles (colorful lanterns made by children) is a symbolic tribute of the light of the Freedom Torch shared through every town in the nation. [caption id="attachment_64234" align="aligncenter" width="960"] On the morning of September 15, the colors of Costa Rica explode into the streets and homes as the country’s sovereignty is celebrated. This is a day of joy, honor, and festivities for families and the people of Costa Rica. The true spirit of Costa Rica bursts throughout the country and is a pleasure to witness. Patriotic parades take over the towns as people are adorned in traditional costumes with blue, white, and red as far as the eye can see. Costa Rican traditional dances are performed where the folk dance known as Punto Guanacasteco is beautifully displayed. Music of the school marching band, drumming, baton twirling, and patriotic hymns fill the streets of every town. Students practice for months in advance to show their patriotism on this day. The flag plays an important role in the day being raised in honor of Costa Rica’s Independence Day and is predominant throughout the parades of the day. The colors are strong and vibrant like its people. Red represents the generosity of the nation’s citizens as well as the blood shed to defend the country, white symbolizes peace, and blue symbolizes the color of the sky and the idealism of the country and its people. These colors and their meanings are hoisted with dignity and pride, and carried throughout the main streets and towns by children. Costa Rica traditional clothing for men is usually white cotton pants and a white button-up shirt with a red sash belt, a red handkerchief tied at the neck, and a straw hat. Women wear long, flowing, vivid multi-colored skirts in layers, with a white, ruffled, sleeveless blouse (usually embroidered or with ribbons), a choker band necklace, and their hair pulled up in complicated braids or a bun and decorated with a big flower. [caption id="attachment_64230" align="aligncenter" width="576"] Costa Rica's Independence Day parade on September 15, 2022 in Cortes, Costa Rica[/caption]A History of Costa Rica’s Independence Day
Traditions Surrounding Costa Rican Independence Day
The children's torch relay running the flame from Cartago south to the Southern Zone[/caption] After the country’s singing of the national anthem, the streets come alive with the lights of the children. Known as the desfile de faroles, or lantern parade, families take to the main streets of town with their glowing creations. These candle or LED lit designs of elaborate houses, churches, wildlife, or colorful oxcarts are paraded in a festive manner high in the air surrounded by the sound of music and school bands. There is often a friendly competition between the students to create the most impressive faroles awarded at the end of their walk. [gallery type="rectangular" columns="2" size="full" ids="64233,64232"] The parade of the lanterns became an annual tradition in 1953 when Professor Víctor Manuel Ureña, the provincial director of the schools in San José, began with close to 10,000 children. He instilled and encouraged pride within the country, which evolved throughout the years into the national cultural tradition that is celebrated to this day. [gallery type="rectangular" columns="2" size="gallery-two-column-image" ids="64214,64222"]Costa Rican Independence Day
Osa Tropical Properties' broker, Kevin Champage, and his family at this year's September 15th festivities in Ciudad Cortes[/caption] This year, Costa Rica celebrated its 201st year of independence from Spain on Sept. 15. If you would like to celebrate the 202nd year of independence of this great country while living within its borders next year, contact our team today at info@osatropicalproperties.com and let us help you on your journey to your dreams.
May 12, 2023
Financial independence and early retirement (FI/RE) are two linked dreams that have become a reality for many who choose to retire early in Costa Rica. When you think retirement age, you probably think of someone in their late 50s or 60s. While this has been the standard age for decades, people who strive for FI/RE retire much earlier, usually in their 40s, 30s, and even 20s. Imagine for a second that you are able to afford your dream life in Costa Rica, no matter your age. Creating your plan for financial independence and early retirement can involve kicking back on the pristine beaches of the Costa Ballena most afternoons with a cooler of beer, warm friends and a colorful sunset. Perhaps learning how to surf on Costa Ballena's consistent breaks might be your way of maximizing the extra hours offered by our early morning, vivid blue sky sunrises. You, too, can live your most vibrant life by focusing on your health while managing your wealth from within a growing real estate and rentals market. Economies are changing all over the world. Resourceful people are choosing to be more self-sufficient. When it comes to obtaining lasting financial fulfillment from a long-term career at one company, our trust is waning. Instead, people who FI/RE are choosing to focus on building investments and passive income streams so that we can live our best lives as early as possible. Financial independence is typically defined as having enough income (from investments, passive businesses, real estate, etc) to pay for your reasonable living expenses for the rest of your life. You have the freedom to do what you want with your time (within reason). Working (full or part-time), hobbies which generate income, or other activities are optional at this point. There are three main paths for achieving FI/RE: “Financial independence ultimately means that you can shape your life without taking money into consideration,” said Tanja Hester, a recent FI/RE graduate and founder of the website Our Next Life. “Most of us have to consider our finances in nearly every decision we make or maybe even make decisions solely based on money. But once we reach financial independence, we get the freedom not to be bossed around by what we earn or what we have saved.” Retiring overseas can provide a more fulfilling and less expensive lifestyle. Compared to some of the more popular retirement destinations within the United States, Canada, and Europe, South Pacific Costa Rica can be much less than half of the cost of living with the right FI/RE strategy. There are a number of reasons to FI/RE in Costa Rica. Our South Pacific region, locally known as the Costa Ballena (Whale Coast) is a great example of a growing real estate and rentals market. Just in the last 5 years, tourism has grown by nearly half a million visitors. For a country of only 4 million to receive over three million foreign visitors last year is impressive and the trends in ecotourism are pointing to continued growth. To accompany this growth in tourism, there are increasing examples of entrepreneurs who have chosen Costa Rica as a part of their investment strategy. Below, we will focus on our top three reasons why we recommend Costa Rica as a safe financial plan for financial independence and early retirement (with caveats). Residing in Costa Rica is not the least expensive place that you can choose to live abroad. But if you are from any major city in Canada, the United States or Europe, you will likely pay significantly less for property taxes in Costa Rica. The average three-bedroom ocean view home situated in the gorgeous mountain communities above Uvita, Costa Rica costs around $700,000 (this number skews high because the incredible view lends itself to high-end luxury homes). Regardless, this works out to around $1800 annual property taxes for a beautiful, modern home with a dazzling ocean view. Compare this to paying $8100 USD in annual taxes for a similar property in the popular retirement communities of Lagos, Portugal. Or nearly $10,000 USD for a standard three-bedroom home in Orange County. Ouch. Reduce your living expenses on everyday things like healthcare, food, water, and electricity. Many couples who live in Costa Rica spend less than $25,000 annually while renting a home in Ojochal, Costa Rica. Learn self-sufficiency by spending more time doing things for yourself. Our Costa Ballena communities are still growing and so it is not always possible to find that part of that person who can help in a pinch. It is often that we end up waiting or finding solutions for ourselves. Many who FI/RE in Costa Rica end up becoming more resourceful and growing their skills in daily maintenance and typical repairs. Our growing Costa Ballena communities are seeing significant increases in expats and tourists over the last five years. This means that real estate can be a truly viable option for achieving FI/RE with the help of your investments in Costa Rica. Most real estate investors who FI/RE will want to sell their real estate investment after growth of around $100-$150k. Despite seeing a few inflated prices in the local real estate market, our recent sellers who have also bought their properties in the past few years have seen considerable growth in quality property value over the last five years. Those entrepreneurial enough to build can expect to pay around $125/sq.ft for today's beautiful modern builds (blueprints, building permits, pool and landscaping installations, furnishings and appliance costs are additional). Place that lovely new home on a gorgeous, two-acre, ocean view lot in Dominical and you have yourself a recipe for real estate investment growth in our Costa Ballena real estate market. Our Costa Ballena rentals market is thriving with many of the regions best offerings seeing an average of 70% annual occupancy rates. Some recent buyers of ours are seeing immediate rental returns of 8-10%, which is comparable to the US stock market average returns for a far more fun investment opportunity. Imagine receiving a steady rental income from a place that you truly enjoy visiting, too (in the off-season, if you don't want to impede your maximum FI/RE pace). Many investors prefer investing in real estate because it is a tangible asset you can use. The purpose of moving to Costa Rica for a vast majority of us was to enjoy a healthier lifestyle. Here, you can experience more travel, adventure, and fun within your neighborhood. There are numerous natural wonders to visit in and around the Southern Zone of Costa Rica. This is a place where life can feel like you're on holiday every day thanks to the warm sun, fresh air and plentiful, beautiful wildlife. In the Costa Ballena, we live in a part of the world where it is easy to feel inspired; to wake up and seize the day, every day. We live in a community where small business people feel supported by their local community. Many have turned their hobbies and passions into fruitful entrepreneurship. Handy gardeners may turn their crops into successful small businesses by selling jams, pickles, cheeses, and bread. And skilled craftspeople have found a sizable market of people looking for something new and exciting. No matter your passion, Costa Rica is a place that welcomes you to explore your potential. Not every financial plan is a good plan, no matter the location. Every investment decision requires careful consideration. There are often the right ways and wrong ways to invest your money. Expert advice is essential for those who are not educated in an investment market and Costa Rica is unfamiliar ground for most people. Talk to our knowledgeable agents who are also experienced investors in Costa Ballena real estate. Please contact our office to learn more about our local real estate and rental market trends and the full cost of living in the Southern Zone. Stay tuned for next week’s article about a few Osa Tropical Properties clients who have found FIRE in Costa Rica. What is financial independence (FI)?
Why choose Costa Rica for FIRE?
Spend less/save more
Earn more
Boost your quality of life (while cutting your budget)
Caveats to achieving FIRE in Costa Rica