The thought of owning a piece of luxury real estate in Costa Rica can be a dream come true for many prospective home buyers. If you’re on the same boat, here are several tips you’ll want to know:
Find a specialist
It’s practical to hire an agent. They know the area, have the right contacts and can make life easier for you. However, not just any agent would do. If you’re looking for luxury properties like beachfront or waterfront homes, you’ll want to look for a waterfront specialist. They have unique insight into what kind of properties hit the mark and which ones aren’t a good fit for your needs and portfolio.
Focus on the property
If you love watching House Hunters, one of the most frustrating things about home buyers is that they spend more time on the structure than the property. But you can change all that down the road. However, a bad view or a swamp right next to the property isn’t going to be easy to ignore. That’s why it’s best to focus on the property than the structure itself.
Factor in those repairs
However, be sure to factor in those repair costs along with the costs of upgrading the appliances and furniture, says Forbes. Stacking these up on top of your monthly costs could triple your expenses. Make sure you’re prepared for that.
Consider commitment
Do you intend to live in the home? If you and your spouse are moving into that luxury real estate property in Costa Rica, you’ll want to make sure you have legal provisions or agreements in place in case the marriage or partnership fails. Setting out conditions early on could save you a lot of trouble and heartache in the end.
Ask about insurance
This could definitely jack up your monthly costs. Ask your agent about insurance coverage and options so you’ll have a better idea which one to go for.
