March 14, 2025 in Life in Costa Rica, Tips for Buyers, Real Estate in Costa Rica

Costa Rica, with its stunning natural landscapes and tropical climate, offers a unique living experience that blends indoor comfort with outdoor paradise. When purchasing or building a home in this Central American gem, certain design features can significantly enhance your lifestyle and property value. This comprehensive guide explores the essential design elements to prioritize in your Costa Rican home search or construction project.

May 13, 2023 in Real Estate in Costa Rica, Tips for Buyers, Tips for Sellers

Welcome to our 2022-2023 annual market recap and quarterly-market report for Costa Ballena real estate for the fourth quarter of 2022 (October to December). Osa Tropical Properties is the only office in the Costa Ballena region that provides a quarterly market report, offering sales totals and statistics that give a fair representation of our local real estate market.  This report is not intended to be a form of financial advice as it is not verified information by any governing body and is the result of our independent research and reporting. Costa Rica real estate does not currently have any official MLS system and there are no governing bodies that offer sales reports for  Costa Rica's real estate markets. At Osa Tropical Properties, we find it valuable to offer our clients an overview of our real estate market that is based on data, even if it is incomplete. For this reason, we choose to create our own real estate market reports that are based on verified information that we accumulate throughout the year from our network of trusted real estate brokers and agents who we work with in Costa Ballena. Through this encompassing network, we share information about properties for sale in Costa Ballena that gives us a fairly accurate understanding of the real estate market in this region.

OTP Market Report Methodology

For this report, we have analyzed hundreds of properties that were listed for sale and sold in 2022. We encourage our clients and blog readers to contact our office for further information about this and other reports so that we may offer a more detailed understanding of how we create our reports and give further insights into the data. We have chosen not to include previous years in many of our chart comparables in this report because 2022 was a unique year in Costa Rica's real estate market. Regular travel resumed to and from Costa Rica in late 2020 and in 2021, our website traffic more than tripled that of 2019, which was a record year for travel in Costa Rica. What this market analysis will show is how real estate trended in Costa Ballena in 2022, how the different real estate market segments performed, and what today’s Costa Rica real estate buyer is typically looking for. *Click here to read our previous quarterly market reports. There are, however, a number of real estate transactions that take place outside of our traditional real estate brokers' network in Costa Ballena. As hard as we try, we do not have access to all of the information about real estate sales and development in Costa Ballena, Costa Rica. We do our best to create an MLS-like website that is easy and informative to use and osatropicalproperties.com is in fact the #1 most viewed website for Costa Ballena real estate according to the web traffic ranking website, SimilarWeb.  Osa Tropical Properties is an independent real estate agency operating within a small network of brokerages in the Costa Ballena region. Each of the established real estate agencies in this region is connected via an internal network of information exchange that allows us to advertise listings for sale in Costa Ballena that our office does not directly represent. This exchange gives each brokerage a similar advantage to find buyers for the properties for sale in this region. There are, however, developers who prefer to sell their constructions on their own and these types of properties are difficult to source information on. Therefore, we have omitted many of these sales in our market report for this region.

Market Highlights for 2022 Costa Ballena Real Estate

Costa Ballena real estate closed off  2022 in traditional fashion with the fourth quarter as the slowest of the year. October, November, and December are typically the quietest months for travel to and from Costa Rica (aside from the latter half of December). However, 2022 saw total sales values higher than the same period in previous years. 266 property transactions took place in 2022, with 213 transactions closed and 53 still pending at the end of the year. The total value of closed property transactions in our Costa Ballena real estate analysis for 2022 was $129,651,455 with an additional $27 million left waiting to close in 2023. The first quarter of the year started out with a bang at close to $50 million in sales between January and March during the busiest season for tourism in Costa Rica. But it was the third quarter of 2022 that was by far the busiest of the year with $53 million in sales over 77 transactions. This period between July and September is surprisingly one of the busiest in real estate in Costa Ballena. The warm summer months in Canada, the United States, and Europe keep casual travelers at home but bring serious buyers back to catch a glimpse of what life looks like at different times of year in the place that they are looking to buy.

About Costa Ballena Real Estate in 2022

For the purposes of our market reports, we chose to break down the wider Costa Ballena region into three distinct areas that revolve around the towns of Dominical, Uvita, and Ojochal. Each of these three towns features numerous services and amenities that make them each a hub for their many surrounding neighborhoods. The Dominical area is the most northern community hub in Costa Ballena. The town of Dominical is a sleepy beach town that has seen a few critical infrastructural and commercial upgrades in recent years. The many developments in town are a reflection of the growth in population and wealth in the neighborhoods surrounding Dominical that use its services regularly. The Dominical area includes the very popular ocean-view neighborhood of Escaleras as well as a number of other mountain and coastal communities such as Baru, Lagunas, Platanillo, Dominicalito, and Puerto Nuevo. Central Uvita continues to be the main commercial hub for all of Costa Ballena as it is home to the only bank branches and select government offices in this region. Uvita also has the most options for supermarkets, medical offices, and restaurants. The town of Bahia near central Uvita is home to the Marino Ballena National Park, which is the main reason why this is the most popular area for tourism in the Costa Ballena. Ojochal is the southernmost portion of the Costa Ballena and for the purposes of our market report, we count everywhere south of Ojochal up to Cortes (20km south of the entrance to Ojochal) as a part of the Ojochal area, including Tres Rios, Vergel, and Chontales. Ojochal has long been known as the ‘culinary capital of Costa Rica,’ though in recent years it appears to be have strong, new competitors in Uvita and Dominical. Ojochal is still home to some outstanding dining options that include Citrus, Heliconia, and Exotica, among a number of others.

Dominical Area

The total property sales in Dominical for the fourth quarter of 2022 were just over $14 million. Homes in this region averaged around $942,500 for 3.2 bedrooms in this period.  Vacant residential lots were sold for an average of $333,000 for about 2.48 acres or around $134,000 per acre for vacant land in the fourth quarter of 2022.  As well as having the highest price per house and vacant land, properties in Dominical generally sold for around 96.6% of the list value in the Dominical area, which is the highest percentage in the Costa Ballena region. The highest value area for homes in Costa Ballena in 2022 was in the neighborhood of Escaleras, where the average sold value in the fourth quarter of 2022 was $1.7 million for about a 4777 sq. ft home on approximately 4 acres. Dominical area property sales totaled over $67.7 million for the whole of 2022, which saw average property prices of $914,923. Properties in Dominical tended to sell for an average of 96.3% of their list price throughout the year. Homes in Dominical spent a median of 246 days on the market in 2022 with many homes that have been listed for more than 5 years finally selling in 2022. The average list price for homes in Dominical was $1.14 million for the whole year.

Uvita Area

The Uvita area’s total sales for the fourth quarter were just over $10.25 million. Homes in this region averaged around $575,100 for approximately 3.4 bedrooms in size during this period. Residential land in Uvita sold or went under contract for an average of $231,000 for about 2.8 acres, making the per acre price in Uvita around $82,500 per acre in the fourth quarter of 2022.  Uvita is home to the neighborhood of Bahia, where the most economical homes in Costa Ballena were found in the fourth quarter of 2022. The average sold price for a 3-bedroom home on 0.1 acres in Bahia was around $383,250 at the end of the year. For 2022, Uvita real estate saw more than $31 million in transactions, and sold property values averaged $528,000 for this area. Properties in Uvita sold for around 96.7% of their list price in 2022. Uvita homes for sale in 2022 spent a median of 114 days on the market and the average home price was $527,987 in the area. Vacant lots in Uvita could be found for an average of $195,000 for about 2.7 acres (around $72,000 per acre) in 2022. 

Ojochal Area

Total sales for the fourth quarter were just over $16.6 million in the Ojochal area. Homes in this region sold for around $766,700 per 3.4 bedrooms on average in the fourth quarter of 2022.  Ojochal continues to be the town with the highest number of property transactions, representing 129 properties sold for a value of $57 million for the whole of 2022.  Ojochal’s real estate sales for the year were around 94.3% of their listed price. Homes in Ojochal were typically listed for 130 days and the average home sold for $656,514 in the wider Ojochal area.

Costa Ballena Real Estate By Category

The average sales price for properties sold and under contract in the fourth quarter of 2022 was 6% higher than the same quarter last year ($567,886 average value for all properties under contract in the fourth quarter of 2022).

Homes In Costa Ballena In 2022

Homes in Costa Ballena continue to be what the majority of buyers are seeking, selling more than $26 million in real estate in the 4th quarter alone and representing 52% of the real estate market for all of 2022. In total, home buyers purchased more than $108 million in Costa Ballena real estate throughout the year, and homes sold for 97.1% of their list price. The average home value in 2022 Costa Ballena real estate was $767,405, which is slightly down from the year’s average of $768,857.  Of the homes that sold within 30 days, the average listing price was around $586,750 for approximately 2.5 bedrooms. These homes sold for 98.5% of the list price in 2022 and the majority of properties that sold were newer and more modern homes averaging around 2,450 sq. ft in construction size.

The Luxury Home Market

The luxury real estate market in Costa Ballena is slower than the traditional real estate market because the pool of buyers is smaller and destination real estate is already limited to a small buyer pool. Houses in Costa Ballena that took longer than one year to sell averaged around $1,250,000 in the listing price, which is considered to be in the luxury home price range in this region. Of the houses listed at over $1 million in Costa Ballena, the total sales value for 2022 was over $43 million. These homes were listed for an average of 320 days (median of 130 days). The average value of these luxury homes was $2,162,350 for the year (a median value of $1,494,500 shows that there were a handful of very high-value homes that sold this year listed for far more than $2 million). Luxury homes in Costa Ballena tend to be monumental in size, averaging around 6200 sq. ft. in construction. Luxury houses that sold in 2022 tended to be situated on ocean-view estate land that was an average of 6.3 acres with around four to six bedrooms. Luxury homes sold in Dominical, Uvita, and Ojochal in 2022 were less than ten years old and featured mainly modern architectural style and decor. Around 15% of the luxury homes sold in 2022 were of a Colonial style. Sixty percent of luxury homes that sold in 2022 in Costa Ballena were in the Dominical area. Ojochal and Uvita areas both had 20% of the luxury homes sales in 2022.

Land For Sale In Dominical, Uvita, and Ojochal in 2022

Vacant lots for building a home in Costa Ballena accounted for $5.7 million in property sales in the fourth quarter of 2022. For the purposes of this market report, we have separated land into two categories based on size. Land that is under ten acres is in the category of vacant residential lots and land for sale over ten acres is qualified as a ‘farm.’  Land values of properties that sold in the fourth quarter of 2022 averaged $238,790, which is 9% higher than the 2022 average of $217,908. During the whole of 2022, residential land buyers of under ten acres purchased nearly $18 million in Costa Ballena properties. Around ninety residential lots sold in 2022, averaging around 2.3 acres in size. Vacant residential land spent an average of 359 days on the market and sold for around 94.6% of the list price. Farms, or fincas, in Costa Ballena are purchased both for the development of residential areas or for creating a more sustainable way of life for themselves and their families. Farms for sale in Costa Ballena closed for an average of $441,845 in the fourth quarter of 2022, which is less than the year’s average of $560,772. Farmland that sold in Costa Ballena in 2022 averaged around 37 acres in size and spent 670 days on the market. The farms that closed in 2022 sold for an average of 87% of their listed price.

Commercial Real Estate And Condos

Commercial real estate and condominiums continue to be the smallest markets for real estate in Costa Ballena. However, the commercial growth in this region has been significant in recent years, with a number of new strip malls opening to host more small and medium-sized businesses. Condominiums have not grown in market proportion in 2022; however, their resale values hold strong, reflected in the high list-to-sold percentage (condos sold for 98% of their listing price in 2022).  Commercial values were down in the fourth quarter at $959,250 as compared to the average of $1.1 million across 2022. Commercial properties that sold in 2022 averaged close to 7000 sq. ft. in construction and spent an average of 392 days on the market. Condo average listing values increased in the fourth quarter to $711,667 as compared to $673,800 for the whole of the year. Only five condos were reported sold in our region for the year. Stay tuned for next week’s 2022 market report breakdown with insights from Osa Tropical Properties realtors about 2022 in Costa Ballena real estate as well as their predictions for 2023. Contact our team with any further questions about the Costa Ballena real estate market by leaving a comment below. 

May 13, 2023 in Discover Costa Rica, Life in Costa Rica, Real Estate in Costa Rica

Escaleras, Costa Rica is a place that promotes a sense of wellbeing, deep relaxation, and helps you attune yourself with the natural world. This is a popular community in the South Pacific that exudes architectural grandeur blending elegantly with the exotic landscape. Those who have searched Costa Rica’s coastlines for the perfect location to begin the dream of living in a tranquil, natural, and breathtaking location will often conclude that Escaleras is it.

The Escaleras Environment

The mountainous community of Escaleras begins at around 1000ft elevation, with homes nestled amongst old growth rainforest and its abundant wildlife. This region of Costa Rica is home to families of sloths, toucans, monkeys, exotic insects, and enchanting birdlife. Wildlife corridors have been preserved as much as possible in the developed regions of Escaleras, where large acreage properties are left mostly forested for privacy and maintaining a connection with the local wildlife. Living in Escaleras can often elicit the feeling that you are living up in the tree canopy as you see the stunning wildlife pass by at eye-level daily. The select tracts of land that were cleared for development are open to the full magnificence of the hillside jungles, untouched by man, as well as the jaw-dropping ocean view reaching out below. The ruggedness of nature becomes a gentle blanket of green stretched out as you look down towards the rolling Pacific Ocean. This area is known for its dramatic views of the dynamic coastline, including the world-famous Whale’s Tail beach formation, Caño Island, and the Osa Peninsula. The mountainous terrain in Escaleras is home to an abundance of winding rivers and some of the most sensational waterfalls in all of Central America. Several properties in Escaleras have rivers and waterfalls within walking distance of their front door with picturesque backdrops and serene, ambient sound. In this sensational environment, hardly a sound other than nature’s cacophony can be heard. 

Envision lounging on your elevated terrace while monkeys and toucans visit travel across the treetops above you. The sounds of the rain forest in perfect harmony with the ocean below. *Click the image to visit this Escaleras listing for sale.[/caption]

Homes in Escaleras

The incredibly pristine environment around Escaleras is decorated mainly with the type of homes that blend seamlessly with the surrounding nature. Houses in Escaleras sit high on the cliff sides, positioned in reverence of the coastal views. Infinity pools merge cool water with the ocean view sunsets on the horizon. Bedrooms and living spaces are built to face the gorgeous Pacific Coast and the green valley below. Large glass sliding doors allow breezes to filter through homes and remove boundaries between the home’s interior and the natural exterior landscape. Homes in Escaleras are built for living life to the fullest. Large, sun-soaked terraces with ample room for lounge chairs, BBQ areas, and dining spaces under the stars are essentials for unforgettable family gatherings or elegant soirees. Gourmet kitchens with intelligently utilized spaces and extras such as walk-in wine cellars are the details that make Escaleras homes the pinnacle of luxury living in Costa Rica. Locally-sourced natural materials like cedar wood and river stone are popular aesthetic choices reflecting the majesty of the surrounding environment. Building materials are carefully selected for their natural beauty in the luxury homes in Escaleras. Green/eco-friendly architectural designs are also immensely popular, fostering a peaceful and tranquil atmosphere while maintaining a small environmental footprint. The goal for many is to create a space to live in harmony with the land and nature that is designed well to last in this environment.  Landscaped entrances to Escaleras properties welcome you home with swaying palms fronds and perennial colorful flower blooms. Most homes and condos in Escaleras are gated for your protection, although most properties are so ample that they do not feel at all confined. Escaleras estates often have additional spaces for development and plenty of room for parking and stretching out. Properties are designed with an emphasis on privacy and space for life to flourish. Whether you are stargazing from your tub on the balcony at night or spending your morning searching for whales breaching the coastal waters during calving season, Escaleras homes allow you to live close to nature while being safely tucked away in immaculate structures. 

From its picturesque perch in coveted Escaleras, the Jade House brilliantly blends naturally inspired materials with state-of-the-art amenities to guarantee the highest standard of tropical luxury living in Costa Rica. *Click the image to visit this Escaleras listing for sale.

Lifestyle in Escaleras

Escaleras is conveniently located between the coastal towns of Dominical and Uvita, making it centrally located while being out of the main bustle of tourists. Life in Escaleras is all about feeling like you are in a remote location that is actually just a short drive to everywhere you want to be. This is the ideal location from which to embrace doing what you love doing and living life to the fullest.  Living in these coastal mountains can feel like one of life’s greatest thrills. Unforgettable views span the stunning coastline and remind you that you are within easy reach of the fantastic beaches and exciting adventures in the area. Escaleras has the best of everything for avid adventurers and world travelers who want to surf, zip-line, river raft, hike, and search for wildlife. 4×4 vehicles open the door to driving up the windy, mountainside roads that lead to incredible precipices that overhang jaw-dropping coastal views from high up in the mountains, as well as "secret" river and waterfall spots that are off-the-beaten-path but well worth the journey. 

4x4 trails above Escaleras will lead you on wild adventures to some epic roadside waterfalls and lookout spots high in the mountains.[/caption] Mornings have never been so exquisite as day breaks through large windows in your Escaleras residence. Every day brings close encounters with nature and healthier indoor living. Architects strive to make the interior and exterior landscapes feel as one so that residents can feel immersed in the vibrant blues and greens in the day and cotton candy colored sunsets in the evening. Escaleras is home to some of the most high-end estates in the region and is therefore blessed with amenities like high-speed internet, robust security, and solid infrastructure. There are quality services available like concierge, spa and massage, and private chef catering. This is the home of modern luxury living in a dream come true location. Try upscale gourmet restaurants, gorgeous jungle-enveloped cafes, and shop at boutique stores carrying high-quality, Costa Rican made products all located within the community of Escaleras. Life here combines the comforts of modern, upscale living with the creative flow of the jungle. Outdoor spaces on Escaleras properties are perfect for yoga or bird-watching. It’s easy to reconnect with nature as toucans soar lazily overhead while you meander through courtyards surrounded by tropical gardens, where coconuts and bananas are almost always within reach.

Market Report on Properties in Escaleras

The way things are going in today’s Costa Rica real estate market, if you don’t buy that Escaleras estate you have been eyeing, someone else will. There are only so many homes and land for sale in this tiny Costa Rican town. There are currently 15 homes and lots for sale in Escaleras totaling around $22 million in value. The average price for a lot for sale in Escaleras is around $400,000 for just under 2 acres of land. The average home price for sale in Escaleras is about $1,580,000 and most homes are high-end luxury estates. So far in 2022, 17 homes and lots have sold in the area since the start of the year. Of those that sold, the average sale price was about $1,792,133 and properties sold for around 95% of asking price. While many purchase real estate in Escaleras to live in an exceptional location, others use their Escaleras residence primarily as a lucrative rental property. According to AirDNA, an average night’s stay on Airbnb for an Escaleras rental is around $372/night with many homes renting for over $1000 per night. There are many smaller homes for rent and some fantastic mansions that compare to the top luxury properties in the world. There may not be any five-star, all-inclusive resorts in the area but there are a number of super-luxury vacation home rentals available that are booked at a high occupancy rate throughout the year. Escaleras is the home of yoga retreat centers and boutique homestay experiences. Visitors choose Escaleras vacation home rentals because there are many concierge services in the area and property managers are ready to curate an entirely unique luxury vacation experience for their guests, including personal chefs, spa services, and boutique tours. This is the perfect destination for wedding celebrations and honeymoons because of the availability of numerous luxury multi-home properties in this spectacular region. Experienced local property management companies make rental income an easy and almost effortless pursuit.

This multi-home, luxury Dominical property features a prime location in the upscale Escaleras neighborhood, near Playa Dominical, that is great for rentals. The detailed wood interior makes for impressive listing photos. *Click the image to see more listing details.[/caption] People come from all over the world come to Escaleras to explore the wonders of this serene landscape. Escaleras’ luxury views and community amenities increase the profitability of vacation rentals that are turnkey income producers. Customers who rent properties in Escaleras return yearly to experience more of the magic, reliving in a new way each time, because why go somewhere else when you’ve found a place that speaks to the depths of your soul? This is the kind of place you visit and create memories that last a lifetime.

May 13, 2023 in Real Estate in Costa Rica

Homes in Ojochal are what the real estate market in South Pacific Costa Rica is seeking. Property prices are rising and everyone is wondering how far they will go. Real estate investors and those seeking a new style of living are converging in Costa Rica and prices for homes and land in this country are elevating. Global real estate markets are shifting due to changes in the work environment and more people are working from home. But while markets in other boom areas are declining as mortgage rates go up and stock prices go down, Costa Rica is not quite as affected this time around because the reasons people are moving here are beyond financial gain. As a result, many property sellers in Ojochal today are seeing strong gains, anyway. Property sellers in the current market are justified in asking for much higher prices than what they purchased for in recent years because there is a serious lack of inventory in a lot of key markets in Costa Ballena. Buyers who are unable to find a turnkey home in their desired area are more willing to buy fixer-uppers and raw land than in previous years and properties that used to sit on the market for a long time are now getting snapped up soon after listing (and sometimes before!) Property value increases in Costa Ballena are being seen across the board, from basic single-family homes to income properties and luxury houses. When looking at what properties are selling for today versus what they have sold for in recent years, we can see a strong shift in prices that ranges from around 6% per year to over 23% year-over-year. Some of these gains are achieved through significant investment like renovations or adding new features. Other properties have simply found their time to shine in today’s real estate boom.  To better understand what is happening in the real estate market in our area, we have put together this comparative market analysis that shows what properties have sold for recently versus what they were purchased for in years past. We have chosen to focus on Ojochal and the surrounding area for this particular analysis, although we have the data to create more reports for Uvita, Dominical, and even more niche markets. The selection of homes in this report sold at least twice in recent years and will show the increases in property values across recent years.  Property owners selling their real estate in Costa Rica quickly do so for a variety of reasons, be it speculation, opportunity, or unforeseen circumstances in their lives propelling them to sell more quickly than the average real estate investor. And with the changes in the market, more people are coming out with big gains, giving motivation to others to consider selling now while the market is hot.

Comparative Market Analysis for Homes In Ojochal (2017-2022) 

Based on the seven unique properties in this report, the average value increase of homes in Ojochal and the surrounding area over the last five years is 15.5%. We do not know all of the renovations and additions that were done to these seven homes but based on our knowledge of local real estate and our observations of the following listings then and now, we have given our assessment of the investment the properties received between their sales prices in previous years compared to the past year. Minimal investment would include cosmetic items and would be less than 5% of the purchase price. Moderate investment might include some replacement and refurbishment up to 10% of the property's purchase value. And high investment (which this particular report does not show) would be entirely new additions to the structure or replacement of major items like the roof. It is important to note that of the majority of the properties in our market being resold, the ones that make the most gains are the properties that received some improvement. Land buyers who subdivide, make building plantels, and bring utilities onto the site or home buyers who add onto the home or renovate are the future property sellers who stand to make the biggest gains. On the other hand, just because the market is hotter in general doesn't mean that every property is what buyers are looking for today. Not every property in Ojochal is positioned for what the majority of the market wants. And with the exception of one property, each of these homes in Ojochal underwent at least some renovations to better position them for today's buyers. We do not have a crystal ball and we cannot claim to know with certainty what our Costa Ballena real estate market will do in the future. What we perceive, however, is demand increasing every day as buyers and fellow realtors in our region contact our office asking for properties for which there is no more inventory. Ocean view homes in Ojochal and other unique properties like the ones below are what the market is demanding. It is not our opinion about what the market wants – it is what buyers are willing to pay for these properties in Ojochal today.

Pura Vida Paradise Home

Location: Ojochal Size: 2 Bedroom home and studio cabin on 0.64 acres Sold 1: 2019 for $186,000 Sold 2: October 2021 for $309,000 Estimated investment: Moderate for paint, new furnishings, and pool refurbishment Price difference: $123,000 (increased value of 66% over 3 years or 22% average value increase per year) This small and simple home with studio cabin sold most recently in October of 2021, kicking off last year's high season of real estate, selling for $10,000 more than asking price within a month of listing. This unusually fast sale for higher than list price was a portent for things to come, telling us that the market was shifting and that older properties in need of renovation are suddenly a hot commodity. This property is old but so private, tranquil, and with beautiful mountain views. When this home first sold in 2019, it was listed for about three years and sold for basically replacement value of the construction. Those buyers spent time and money in updating the furnishings and painting in light colors. Their efforts brightened up this home and cabin, which didn't need any major work to make it comfortable and move-in ready, other than refurbishing and tiling the pool and strategically limbing some trees to expose more of the mountain view. It is now being used as a short-term rental home that earns a steady income in Ojochal's hot rental market.

Perfect Vacation Rental

Location: Ojochal Size: 3 Bedrooms on 0.25 acres Sold 1: March 2021 for $612,500 Sold 2: February 2022 for $754,000 Estimated investment: Minimal Price difference: $140,000 (increased value of 23.2% over 1 year) Casa Sea La Vie in Ojochal was sold in March of 2021 and without changing a thing, it was put back on the market in June of 2021 for $759,000. Despite the popularity of the size and design of the home, the market was not yet ready to stomach such a price spike at that time. However, the home did receive a successful offer by the end of 2021 and closed in February of 2022 for $754,000. Built in 2020, this brand new three bedroom home on a small lot was one of the most expensive properties to sell in Ojochal the first time around and sent shockwaves through our market about the growing potential of spec homes in Ojochal, where young, wealthy families are opting for turnkey modern homes to rent so they can earn an income while deciding on their next move.

Family Home And Guest House

Location: Ojochal Size: 4 Bedroom main house and 2 bedroom guest house on 0.6 acres Sold 1: 2019 for $600,000 Sold 2: December 2021 for $800,000 Estimated investment: Moderate for new pool tiling and small property upgrades like decorative stonework and landscaped garden paths Price difference: $200,000 (2 year increase of 33% or 16.5% average increase per year) This four bedroom family home was in excellent condition when bought in 2019 and most of the interior was unchanged between sales. The pool was retiled and extensive stonework was added to the exterior of the property, including garden paths.  This style of home with an additional guest house is popular with the multi-generational families moving to Costa Rica and those looking for additional income, whether renting out the smaller or larger house and living in the other.

Easy Living Home In Ojochal

Location: Ojochal Size: 3 Bedrooms  Sold 1: March 2021 for $285,000 Sold 2: March 2022 for $340,000 Estimated Investment: Minimal Price difference: $35,000 (1 year value increase of 19.3%) This home sold for $285,000 in March of 2021 after 1 month on the market (at 96.6% of its list price of $295,000). It was then listed again in October of 2021 for $349,900 and received a contract in February and closed in March for 97% of the list value. Not much was changed in the three bedroom home other than about half the furniture changed out for a more modern style and a coat of paint was applied to the interior and exterior. The location on the paved road has made this a popular property for those who really want ease of access (a rare quality in Ojochal real estate) and who don’t mind being located close to their neighbors and many North Americans are used to this style of home.

Ocean View Contemporary Home

Location: Ojochal Size: 3 Bedrooms on 0.21 acres Sold 1: 2019 for $429,000 Sold 2: March 2022 for $580,000 Estimated investment: Minimal Price difference: $151,000 (3 year value increase of 35.2% or 11.7% average increase per year) This three bedroom contemporary bungalow with a mid-sized pool, funky decor, and absolutely incredible views sold at the start of 2019 for $429,000 after being listed on the market for around two years. Since then, it has continued to operate as a vacation rental, generating a solid income. This year’s sellers made very few changes to the rental before selling it again in March of this year. This property was a great long-term rental during the pandemic that has now led to a net sales profit, too.

Chontales Modern Bungalow

Location: Chontales Size: 3 Bedrooms on 0.54 acres Sold 1: 2017 for $525,000 Sold 2: June 2022 for $695,000 Estimated investment: Minimal Price difference: $170,000 (5 year value increase of 32.4% or 6.5% average per year) This Chontales bungalow sold in 2017 after having spent almost a full year on the market. Listed again in June of 2021, this home sold one year later for full price as the area surrounding was seeing an increase in action. Very minimal changes/upgrades were made to this 3 bedroom contemporary home with an ocean view and the price increase is a result of comparable homes in Ojochal and Uvita being sold for much higher prices, pushing buyers with slightly lower budgets further south.

Luxury Home In Chontales

Location: Chontales Size: 3 Bedrooms on 0.46 acres Sold 1: December 2020 for $597,000 Sold 2: April 2022 for $715,000 Estimated investment: Minimal Potential price difference: $123,000 (increased value of 19.7% over 2 years or 9.8% average per year) This modern home in Chontales closed was relisted in January 2022 with very few changes made to the property since it was purchased in 2020. It was listed this year for $769,000 originally and reduced to $715,000 in April due to a need to sell quickly. Despite being the most expensive property for sale in Chontales at the time, the sale closed in August as the comparable listings in Chontales sold earlier in the year. Interested to know our take on today's value of your home in Ojochal, Uvita, or Dominical? Whether you are buying or selling, our team of agents are here to offer expert advise on how to maximize your real estate investment in Costa Ballena. Contact us below for more info. 

May 13, 2023 in Selling Process, Buying Process, Real Estate in Costa Rica

2020 has been quite the year, no less in Costa Rica real estate. Our Osa Tropical Properties year end market review has shown our team that people still decidedly want to move to Costa Rica and their intention is only impeded by logistics. As such, like many other real estate teams, we took to a more digital approach in 2020 that has proven to help many clients of Costa Rica real estate find their way here. We know that people are very enthusiastic about moving to tropical, luxury markets in coastal regions around the world for cleaner air and a more coastal-rural environment. Everyone is searching for their own little utopia in a laidback and sunny location. Below are some of the reasons why people chose Costa Rica in 2020, a general picture of what the majority bought, and what we see for real estate in Costa Rica in 2021 amid an uncertain future.

What sold in Costa Rica real estate in 2020

New construction luxury homes in key markets like Escaleras often sold prior to completion in 2020. Property investors in Costa Rica wanted larger and more luxurious homes. We saw a 50% increase in multi-million dollar homes being built in some developments in Costa Rica and larger new luxury homes sold fastest. Real estate buyers in 2020 wanted a home gym or a yoga studio and they plan to have family stay with them. These are also the places that are booked the most frequently by the more selective travelers in Costa Rica who were seeking the most exclusive relaxation experiences in 2020. Popular properties this year have also been well-built homes on acreages. New or old, these tropical refuges offer privacy and tranquility in a place away from others. Extra space was the number one thing that real estate buyers in 2020 were looking for and buyers have wanted homes that are already built and ready to go. Our Southern Zone region has extremely low crime rates and the safety, tranquility and beauty of this location attract visitors from around the world time and again. Tourists and expats love the blend of high-end amenities with a country lifestyle. The weather is lovely year round and there are a huge amount of leisure activities amidst lush, green scenery. Closing prices have grown close to asking as the market has gone down in inventory. Since the resale market in Costa Rica is historically so strong, sellers in 2020 saw their investment in Costa Rica property as an opportunity as a strongly valued asset that offers an improvement in lifestyle with the added benefit of lower property taxes. This year allowed many seller’s to reassess their stake in Costa Rica and many have held out for full asking price or decided to take their property off the market altogether. 

Who was buying real estate in Costa Rica

In 2020, densely populated cities became perceived threats to health and freedom. Many are choosing to flee their urban and even suburban homes in favor of a less hectic pace of life with more elbow room. Many transplanted urbanites have begun working from home, making their choice to move less complicated. And these urban and suburban home sellers are cashing in on their exit plan. Foreign buyers of property for sale in Costa Rica are looking for resort-like homes that are practical and sophisticated. Americans from the US were increasingly moving south in 2020 to places like Arizona, Texas, California, and Florida, where the luxury home market continued to see skyrocketing prices and sales activity throughout 2020. As a result, those who already lived there were offered a boost in sales prices, meaning that clients of ours who were selling in those key markets were able to come to Costa Rica with greater means than they could have in the past.  Retirees who were drawn to Costa Rica in 2020 came seeking to simplify their lives while maintaining independence. Costa Rica’s universal health care is an easy and inexpensive option with excellent public medical facilities and world class private hospitals that are still generally a fraction of the cost of private medical care in the United States. Those who are choosing to spend some or all of their retirement in Costa Rica want to live in an attractive setting that doesn’t feel like retirement. Ojochal, Uvita and Dominical all have a great mix of residents that include locals, young families, entrepreneurs, and retirees. Seniors who move to Costa Rica are looking to avoid a late-life crisis by staying active and healthy in a vibrant community. According to our web analytics, people are reaching our website via searches for Costa Rica versus Panama, what it’s like to own a vacation property in Costa Rica, and lifestyle topics like gardening and raising a family in Costa Rica. The practical aspects seem to be less important to online searches although these are the questions that our team of agents would most likely field. People don’t want us to tell them what they should like and want. They seek out our help with the main logistics for how to make their dreams come true. And reading our company’s testimonial page has convinced enough potential buyers that we are a great team to trust as being helpful and in the know.

How the pandemic affected the sale of properties in Costa Rica

The year 2020 started out strong in our local real estate sector with a lot of tourists visiting our region and plenty of interested buyers of Costa Ballena real estate. Around March is when the pandemic started to impede travel into and out of Costa Rica and offers to purchase that were on the table before that largely fizzled out. A lack of certainty in various economic markets and in the ability to travel took all of the growing certainty in the value of investing in Costa Rica out of the picture. But this year has also taught many people that a long time being forced indoors and away from others has given them a different perspective on their priorities. People who contacted us in 2020 knew that they wanted to be in Costa Rica. They wanted an escape plan, whether they were ready to move here full time or desired to have a place in reserve. A large reason for people wanting to secure a property in Costa Rica is because they have heard that this small country has handled the pandemic swiftly and with relative ease. There have not been huge spikes in cases like in neighboring Latin American nations. Panama, for instance has had 80,000 more cases than Costa Rica with almost twice as many deaths despite having only 4/5ths of the population of Costa Rica. Hospitals in Costa Rica have also been managing caseloads well. Costa Rica is also one of the first nations offering its adult population of citizens and residents the opportunity to receive the Covid-19 vaccine’s 2 doses before the end of 2021, although it will not be a requirement. Frontline workers, those over 58, and those with underlying conditions will be first on that list to receive the vaccine. In spite of Costa Rica’s relatively tranquil circumstances this past year and international borders opening completely in November, people around the world largely chose to hunker down and forego travel. The cooling weather and the new wave of virus cases have created stronger lockdown scenarios around the world meaning that even though people can travel fairly freely when in Costa Rica (while abiding by national sanitary requirements), they would be subject to stronger quarantine measures when returning home. This has resulted in most potential buyers hesitating to travel at the moment if they will be required to quarantine for a length of time upon returning to their home country.  However, those who are desperately seeking to live a better life on their own terms chose Costa Rica in 2020. This year heightened a strong global desire for more space. There have been mass exoduses from many urban centers all over the world and a big trend for people moving to suburbs and more rural areas. Those who can get away with taking things a few steps further via remote work or early retirement still chose to try a life in the tropics. During this pandemic, we learned in Costa Rica that if we keep things local and stay mostly within our small communities that we can retain a sense of freedom. Whether this pandemic lasts a few more months or years, those of us who have spent enough time in the South Pacific, especially this past year, feel fortunate to have been away from the majority of hysteria. Our universal health care system is not overrun with Covid cases and it seems that the fresher and healthier lifestyle that people in the tropics tend to live has helped our situations. The silver lining of coronavirus in Costa Rica real estate is that it has decreased the number of window shoppers. Both potential buyers and agents are taking extra precautions and so people touring properties are seriously interested in purchasing. Realtors and sellers know that they are potentially risking Covid-19 exposure and have been taking significant steps to stay safe, including wiping down all home surfaces. This has made realtors in Costa Rica more likely to qualify buyers before spending the extra effort to show properties, focusing instead on creating virtual property tours. These video showing of homes and lots in Costa Rica have helped potential buyers get a feel for walking through a property even though they can't physically be there.

What we predict for Costa Rica homes and lots in 2021

A Costa Rica realtor’s main role in 2021 is likely to continue to develop into helping buyers find a desired property, as well as negotiating a price. Clients are less interested in learning about a neighborhood from the agent, having already likely researched an area before contacting an agent. For this reason, we continue to find our weekly blog posts and our video tours very helpful in reaching potential buyers who want to get a feel for this region before reaching out to an agent. Alongside this more distant role, virtual tours and communication will continue to expand. Affluent consumers are making more health-driven lifestyle choices that will continue to share the luxury real estate market and fuel growth for residential properties that can improve their quality of life. Coming back to the city will be difficult after living in what was your second home. If people find that they can continue to work and socialize from home in a flexible way, it is likely that second homes will become the more permanent primary residence, at least until the pandemic subsides.  Realtors are predicting even more vacation home purchases in 2021. People are vacationing differently than they were before. There is a bigger focus on privacy, cleanliness, exclusivity and luxury. A good vacation home can provide the confidence and travelers will always return to a clean and safe place. And a good, consistent rental income can offset the expenses associated with second home ownership. This means that our second-home markets will continue to see buyers, even in the off-seasons. Work from home has allowed people new flexibility to enjoy perks of resort life on an ongoing basis, not just during vacations. Kitchens and bathrooms are helping to sell homes now more than ever and we predict that these qualities will only increase in demand. With people spending much more time at home, kitchens are becoming higher traffic areas. This has increased the demand in kitchen remodels, with many people favoring minimalist aesthetics.  For the same reason, extra bedrooms are becoming legitimate home offices and the stronger WiFi connections that you can have at home in Costa Rica will continue to draw in the younger professional crowd. Temporary sofa or kitchen table setups aren’t cutting it anymore and working from home takes on a whole, new, positive aesthetic when your workspace is in the tropics. People will also continue focusing on decluttering in 2021 due to spending more time at home and homebuyers are prioritizing more space for storage purposes. Organized spaces can help boost productivity and creativity while reducing stress and anxiety. Social distancing continues to inspire many to rediscover their love for nature. Decks and patios are being put to good use. Having a great outdoor space makes it possible to get a change of scenery without leaving the property. Garden spaces and outdoor entertainment areas will continue to rise in popularity while also making our homes feel like a safe sanctuary.  Costa Rica is poised to continue to be a place to flirt with your dreams and desires again in 2021. So much so that it was recently named the #1 retirement destination on the planet by International Living. Based on reports of our 2020 real estate clients, if you can find your way here, we can almost guarantee that you won’t want to leave. 

May 12, 2023 in Discover Costa Rica, Discover Costa Ballena, Real Estate in Costa Rica, Life in Costa Rica

The northern coast of Costa Rica has long been the place that the majority of tourism comes into the country from around the world.

May 12, 2023 in Discover Costa Rica, Discover Costa Ballena, Real Estate in Costa Rica, Life in Costa Rica

As important as the interiors of a home are, you aren’t taking full advantage of Costa Rica homes without creating living spaces outdoors as well. These chic, tropical outdoor spaces in Costa Rica’s South Pacific capitalize on the climate, views, and the architecture of the property.  Take inspiration from these well-designed "exterior rooms" and make the outdoors your own when you build or buy in Costa Rica. [caption id="" align="alignnone" width="1460"] This stunning luxury home has a seamless indoor-outdoor blend thanks to the sliding glass windows that recess into the home. Lounge "resort-style" in the privacy of this exclusive ocean view masterpiece.[/caption] As the weather in our South Pacific region is always warm, even in the rainy season, you will find yourself eager to spend as much time as you can outdoors. The best exterior spaces in Costa Rica have all the luxuries of their indoor counterparts. Whether it’s the kitchen, dining room, entertainment lounge, or even the shower, being outside in Costa Rica means you can enjoy all the beautiful ambiance of living al fresco. Fresh air, green backdrops, and the sounds of birds and running water are just some of the many treats associated with our outdoor style of life. Achieving the perfect balance living amongst the elements is tricky, but it is easier with a little insider knowledge. As you prep yourself for a life in the tropics, consider these tips to make the most of your outdoor space.

Blend the Outside with the In

When you are lucky enough to live in a climate that affords you the luxury of dry, sunny summers, make the most of it! Sliding floor-to-ceiling glass doors are the perfect way to merge your outdoor dining area with the interior of your home. When the doors are open dinner guests can flow in and out of the house, and when closed you still have a gorgeous view of your tropical gardens. Having easy access to your kitchen also reduces the amount of back and forth needed to bring your meal outdoors. If you have a bit of distance to cover, consider buying a rolling bar cart to make transporting the food less burdensome. [caption id="" align="alignnone" width="1920"] This lovely outdoor space in Ojochal is a sumptuous retreat in keeping with the rest of the property’s Colonial architecture. Surrounded by palms and tropical flowers, this incredible terrace with resort-sized pool and swim up bar provide cozy privacy for intimate gatherings.[/caption]

Outdoor Kitchens Make Outdoor Dining a Breeze

Outdoor dining is even easier if you can do the cooking outside too. Instead of being inside cooking the meal, a full outdoor kitchen in your Costa Rica property allows you to prepare the meal while still spending time with your guests. Today’s outdoor kitchens are not limited to grills alone. When you create your outdoor kitchen, you can build in any number of modern conveniences. Add in a functional sink, counter space, or even a wine fridge for an outdoor kitchen that rivals your kitchen inside. In the right climate, outdoor spaces are ideal for al fresco dining as well.  The outdoor dining pavilion of this Ojochal property has a modern-rustic aesthetic that perfectly matches the Pacific Coast it overlooks. Enjoy the Costa Rica sun during an afternoon lunch, or the twinkling lights of the stars in the evening.[/caption]

Plan to Entertain

Large outdoor spaces are ideal for entertaining in our coastal mountain region. Properties tend to be spacious with lots of room for creating an outdoor oasis amidst jungle and ocean views. Whether you are want to host a full dinner party or cocktails and hors d’oeuvres, be sure to create plenty of spaces for guests to mingle that are connected to one another. Consider incorporating comfortable outdoor seating, an outdoor bar, and ample locations for guests to set down their drinks. When you are choosing outdoor furnishings, be sure to consider function as well as form. Pieces that can serve double duty as side tables or seating, like sturdy square ottomans, increase the functionality of your entertaining space.Outdoor spaces not only add monetary value to your home, but livable value too. Your satisfaction of your own home increases when you have beautiful and functional spaces to enjoy with others. [caption id="" align="alignnone" width="2500"] Sometimes the best way to utilize your outdoor space is to keep the furnishings minimal and let the amazing views speak for themselves.  The open railings of this ocean view Escaleras home allow the terrace to merge right into the vista.[/caption] If you want to know more about what makes our exterior spaces in Costa Rica so enticing, contact one of our expert agents with any and all of your questions about everyday life in Costa Rica. And sign up to our weekly newsletter below! 

May 11, 2023 in Tips for Sellers, Tips for Buyers, Real Estate in Costa Rica

If you spend any time reading expat message boards about buying property in Costa Rica, you will see a lot of commentary about how important it is to rent first and try it out. This may have been advisable since the global economic recession in 2009. But for the few years prior to that, development in Costa Rica was booming. A huge number of houses in Ojochal were built between 2004 and 2008. After that, investment and development virtually came to a halt for a number of years. This has changed in a big way over the last two years.

Commercial development in the Costa Ballena

New, modern construction is happening everywhere in our Costa Ballena region. Beautiful ocean view homes in scenic mountainside locations are being built at record pace, with numerous local construction companies and architectural firms cropping up to fill those job orders. These companies and the materials that they use did not exist 10 years ago, showing the swift pace that this region is modernizing.

Just in the last year, a number of new stores and restaurants have opened. Ojochal has the newly-built Plaza Tangara (replacing one that burned down in an accidental fire 2 years ago) with a doctor’s office, pharmacy, salon and spa, and the iconic Citrus Restaurant, one of many culinary delights in the international community of Ojochal. The highway side Jucaloa supermarket is also being upgraded to a new larger location behind its current one. And the Cinco Ventanas plaza is about to get a revival, including the reopening of the gas station, which is incredibly exciting for the local community.

The Costa Ballena's commercial hub, Uvita, is currently witnessing a substantial upgrade to its BM supermarket. This nationwide chain supermarket already stocks many imported items and will likely see expansion of that list. And the long-standing Pacific Pool business is moving to a new standalone location with a massive showroom, showing that business must be going well.

One of the biggest pieces of recent local news is that Walmart is coming to the second biggest city in Costa Rica: San Isidro de El General, also known as Perez Zeledon. The Costa Ballena is about a 40 minutes drive from Perez and there is much excitement about this store opening. The opening of this store will likely pave the way for more big box stores to open in this already large city. Perez Zeledon is also the likely site for a future international airport, which will open our beloved South Pacific communities even more to the rest of the world.

Furnishing a new home in our region

When it comes to furnishing a new home, buyers used to either import furniture (often at great cost and with little success of the furniture surviving this climate) or traveling to San José. The capital of Costa Rica has long had most of the quality items that expats expect, but it also used to be the only place in Costa Rica where you could find many items. This 3 hour drive from the Costa Ballena used to take 4-5 hours only 10 years ago, which was a lot of time to spend driving for just shopping. It also used to be difficult to find a moving company that would bring items from the city to our region. Thankfully, this is no longer the case.

Bodegon de Asia is one new furniture store near Jacó (less than a 2 hour drive away) and it is huge. They recently expanded to 10x their original size and deliver to our area. Riviera Home Center is another notable furniture store in Jacó. It has a small showroom but a huge warehouse that they will take you to and many catalogs to shop through. Basically, you can find any shape, size, material, quality and color you want. The famous Sarchi furniture manufacturers have also opened a location in Jaco so you don’t have to drive to Sarchi to bring their iconic pieces into your home.

And when it comes to shopping in San José, the company Varma will deliver everything you need to our region. Just give them your receipts and they’ll go to any number of stores to pick up the items you purchased and deliver them to your door.

Increases in investment

New roads are being planned for many local communities in the Costa Ballena. These new roads will cut the driving distance to the highway from 20 minutes to 5 minutes in some instances and making for smoother, safer drives. Dominical, Uvita and Ojochal have all had significant portions of their main roads paved in the last 2 years, welcoming more traffic to each of these communities.

All of the above indicators point to a surge in new construction and refurbishing old construction. This means that investment in Costa Rica is growing and this is reflective of our Costa Ballena region. For these and many other reasons, we suggest to potential buyers that maybe they don’t rent for a year. Instead, we recommend that potential buyers travel around the different regions of Costa Rica and to pick the community that inspires them the most. Our buyers have often traveled most regions of Costa Rica before visiting here and immediately falling in love. This is a dramatically beautiful region where the mountains meet the sea, with pristine coastlines and wild, unpopulated beaches that are absolutely breathtaking. 

Renting long term is not ideal in a rising price market and this is where we are finding ourselves today with many prospects for continued growth. But when it comes to those who use their Costa Rica property for income while they are away, local property managers are reporting that there are often more short-term renters than there are rentals, especially during the high season between December and April. Luxury vacation rentals in Costa Ballena with spectacular ocean views and amenities are rented at least 50% of the year, according to Christine Schiferl from Jaguar Property Management.

Starting around June, we receive a boost in tourism in Costa Rica, with a number of North American and European families using their summer holidays to visit. European businesses often require their employees to take holidays in the summer and many of these visitors will use this time to explore real estate and the possibility of enjoying a Costa Rica property over a longer period of time. With the growing number of airlines and ports opening regular direct flights to and from Costa Rica, the possibility of owning a property in Costa Rica has expanded to more parts of the world.

Expanding prospects

Now is a great time to jump in and build a new home or buy an existing home while prices are still climbing. It is difficult to predict what the world economies will do in the near future, but for now, in Costa Rica, the trends in real estate are pointing towards growth.

Our Osa Tropical properties agents have recently had a number of closings mainly on homes within the $350,000 - $450,000 range. This average range has already grown around $50,000 from this same period last year. We have also had a record number of luxury home closings in our office and in the region in general. Coupled with the huge number of brand new modern homes coming onto the market, we are excited to see much more foreign money coming into the country.

Thanks to development in our region, the growing number of expats coming to our region are bringing jobs and growth, which is plainly evident in the housing and commercial improvements being made in our local communities and the upgrades in the cars that local Costa Ricans drive. Thanks to more foreign money coming in, many locals are directly benefitting and hoping for additional growth.

Excitingly, despite all of this development, Costa Rica has doubled its forest cover in the last 35 years. Thanks to a change in government regulations, Costa Rica’s priorities shifted from logging to promoting eco-tourism in 1983. These initiatives have led to Costa Rica having 52% forest cover and a wide variety of abundant natural wonders that continue to draw the world to marvel at the beauty and purity of this land.

This feeling of inspiration lingers in more than a few people and we are witnessing an increasing pull for many to embrace the pura vida way of life more fully by investing in real estate in Costa Rica. When you are ready, we welcome you to contact us with any questions about real estate or life in general in Costa Rica.

May 11, 2023 in Buying Process, Real Estate in Costa Rica, Tips for Buyers

Buying a property in Costa Rica from long distance is no everyday task. But it can surely be done! Thousands of people purchase properties in Costa Rica from all over the world each year. Expats from around the world numbered around 420,000 at last count, roughly 10% of Costa Rica's population. Working with the right real estate team is the trick to making this task a success. With a bit of patience, persistence and luck, you, too, can find the tropical home that meets your budget and lifestyle needs. 

Ready to begin your search? Here are some tips for making your long distance hunt for a property in Costa Rica a successful experience:

Research Costa Rica

To begin, it's a good idea to determine what type of lifestyle you are looking for. Costa Rica has many diverse lifestyle opportunities on offer. Read some guide books about Costa Rica and look at maps to get to know the different regions and the types of people who choose them.

Check out some property listings in local real estate websites (there is no centralized MLS in our region yet). This will help you get to know the price ranges around the country.

Keep up with local news and views by joining online community pages and blogs. Most community pages will accept prospective buyers who want to know more about the area before deciding to buy.

Reach out to your relatives or friends who have already moved to Costa Rica to ask the more personal questions about the area.  

Figure out your needs

To have an understanding of your wants and needs is essential to make a decision when it comes to buying assets anywhere in the world. And for those specifically looking at buying a property in Costa Rica -- whether you’ve been here yet or not -- ask yourself:

• • Do I want to live in a rural or urban environment?

• • What style of house/property do I want?
  • What is my ideal budget?

• • Do I want to live in close proximity to certain amenities?

• • Do I want an ocean, mountain or jungle view property?

• • How many bedrooms and bathrooms do I need?

• • Do I want more living space indoors or outdoors?

• • Is it important that I live near an airport? Hospital?

• • • Do I need a furnished home?
  • Do I want to live in a gated community?

There are many more questions to consider. The point is to get a head start so that you can narrow down your search to what you really need before you tackle your wants.

Decide on a (realistic) budget

There are many expat destinations in Costa Rica and each community has its own average prices. Even within our Costa Ballena region, we have different price points on properties that depend on location and amenities.

Cost of living must be built into your budget, too, and the considerations here are quite different. Having a good realtor on hand is important because he or she will share information with you about average local monthly expenses. Car maintenance costs, home owner’s associations costs, taxes, food, going out, childcare, rental rates, etc., are all important considerations.

Plan at least one visit to your favorite locations

Researching a place online can only be so revealing. We highly recommend that you visit the Costa Ballena before buying here. As much as we love it, it may not be as ideal for you. Everyone has different preferences for climate, views, amenities and proximity to attractions.

You should plan to see various neighborhoods within each location to get a feel for your comfort in each of them.  Spending time in your top community choices will allow you to familiarize yourself with the area so that you make a more informed home buying decision. The best way to do this is to rent a home and stay in each of your locations of interest. We also suggest dining out at local restaurants, exploring the transportation options and shopping at nearby stores and markets. Every area in the Costa Ballena has its own individual feel.

The Southern Zone of Costa Rica is small enough to enjoy the many great communities and attractions here regularly. But it is still important to feel close to your home community.  Choosing your favorite in the Costa Ballena can be hard, but you will be rewarded with a strong sense of community no matter where you go. Keep an open mind before you arrive. You may think that you want one thing until you see what else is out there. You may not know if it’s right for you until you live it.

Use a top-notch realtor in Costa Rica

Having an expert agent on your property hunting team is essential. You want someone local who will show you the ins and outs of each community in their region of service. You want to make an informed decision and it helps to learn about more than just properties in your search process. Without the help of a seasoned and trustworthy agent by your side, you could easily end up making a costly mistake by choosing the wrong location for you.

Choose an agent with excellent contacts and client reviews shows that they are good at proactively communicating with clients and easy to reach. A great buyer's agent should be ready to go see a new listing in-person as soon as it comes on the market to determine if it fits your needs and report back to you. Our Costa Ballena region can be a fast-paced market for the best positioned listings. You want an agent who is on the ball and ready to report the best listings to you as soon as they come on the market.

Overcome remote home buyer jitters

You may be nervous about making an offer overseas. Moving long distance is a fresh start in a new country with a new culture, new people, and new experiences. No matter how many properties you’ve bought and sold before, we know that the process is different (and a little scary) when it’s in a new country. Ask us any and all of the questions that you have. We understand your nerves and our team of agents are friendly, helpful and open to conversing with you about our lives in Costa Rica. We have coached hundreds of buyers and sellers through the processes of Costa Rica real estate.

We invite you to get in touch with us today.  It’s never too early to start your search for that special property in Costa Rica!  

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