Costa Rica´s Best Guide Online Magazine

residential development in the Grecia area which offers 24/7 security and awesome common areas that include lap pool, general use pools, jacuzzi, games area, picnic areas, gymnasium, squash courts, soccer courts and even a pet exercise area. They paid $138,000 for this property which has a nice terrace and backyard and covered parking for two cars and their closing costs were $4702 (cost was shared with seller). They pay a monthly Home Owners Association fee of just under $60 which covers the common area and residential maintenance, operation and security costs. Their annual property taxes are just .25 of 1% so on the $138,000 they pay just $350 or less* a year (*taxes can be paid quarterly but a discount is offered if the year is paid in full) and their annual cost for full home insurance is just $350. Their electric bill has been averaging $25-35 dollars per month and water is just $12 dollars monthly while cable/internet service (fiber optic) costs $55 per month. They are just a couple of miles from one of the best Farmers Markets (Fridays and Saturdays) in the country where they can obtain fresh, healthy food at very reasonable prices. This case is one of persons who are retiring but when you see the low initial and ongoing costs, you can see that buying a property to use as an investment income generator by renting out to tourists (both International and Local) also makes a lot of sense as well as providing a place to use for your own yearly vacations and a good use of your 401k or IRA plan.

If we stay in the area of Grecia again and look at what could be purchased with this type of investment property use in mind we can find a nearby residential commercial-medical development currently under construction with all the extras like pools, gym, walking & riding paths, a canal running all around the property and other extras. Located just 20 minutes from the Juan Santamaria International Airport, this is an ideal location for persons wanting a place for their arrival and departure nights as well as an excellent base of operations from which to tour all of Costa Rica. It is also attractive for weekends, getaways and vacation use by middle class locals from San Jos é (the capital city) which is just 45 minutes away which allows them to maximize relaxation time. A 2 Bedroom - 2 Bath unit fully furnished and equipped (turnkey ready to rent out) could be purchased for $115,000 plus closing costs (just under 4%). At a modest 50% occupancy rate and a modest $99 per night rate, this property could generate an ROI of 9-12% including all monthly and annual costs as well

as the property management costs, and it would leave plenty of time available for your personal use and that of family and friends! Higher occupancy rates and higher per night rates can be obtained for properties at the beach or with ocean views of course, but the initial purchase costs and ongoing maintenance will also be higher, so it is a question of what your budget is. Absolutely awesome properties can be found in the Los Sue ñ os Beach Community and nearby surroundings as well as in Manuel Antonio-Quepos area (which boasts gorgeous beaches and is the most visited National park in the country) and just south you can find dream homes with stunning ocean views in the communities of Uvita and Ojochal and nearby surroundings. If you look at the Guanacaste region you will find many spectacular beach communities from which to choose as well. It really depends on your initial investment property budget and your own personal investment and vacation goals. The beauty of it is that Costa Rica offers something for every budget and for every taste!