Rent, Buy, or Build?

Rent, Buy, or Build?

I assume a question that is on the mind of those of you planning to come to Costa Rica and looking for a place to stay is whether it is best to rent a house in Costa Rica, buy an existing home and move into it, or buy a piece of land and build on it. Obviously, it all boils down to a personal preference.

For those of you who like to travel a lot (or those still undecided on whether to permanently live in Costa Rica and want to test waters first), rental apartments seem like a fine choice. Renting an apartment can buy you some time to see if Costa Rica is right for you. If you’re a frequent traveler, you might get weary of staying in five-star hotels. After all, you’re missing out on all the fun! You’re missing out on the true feeling and comfort of home and the casual, relaxed atmosphere that comes with being in Costa Rica. If you’re only visiting and staying in Costa Rica for a brief period of time, then rental apartments are probably for you.

Renting a house can be very cheap or very pricey depending on what you’re looking for, with rental costs ranging from as low as $200 per month for a small apartment to a whopping $3000+ per month for a larger, more luxurious house. In Costa Rica, a rental lease is legally valid for three years. However, some leases run from six months to a year, and some landlords rent month to month. Though an inconvenience, moving from one place to another can actually help you better explore Costa Rica in full to decide whether and where you want to stay and live. The Tico Times, Costa Rica’s leading English-language newspaper, can be a helpful resource in your search for the right house to rent.

When renting a house, remember to carefully examine its location, surroundings (to see if there are nearby supermarkets, shopping malls, restaurants, etc.), and the community around it (in case you want to spend a few evenings out). Check also if the apartment has all the basic amenities (most of them do). On the downside of renting, most landlords won’t agree to telephone services with international calling enabled, so you might need an international cell phone plan before you come to Costa Rica.

If you’re planning to retire to Costa Rica or live here permanently, then it’s a totally different story. Most of us, if not all, have been conditioned to own our homes, and indeed there is no better feeling than the security that comes with owning the property you’re living in. So if you’ve been to Costa Rica a few times or know that Costa Rica is right for you and want to call it home, then you should seriously consider owning a house, either through buying an existing home or buying a piece of land and building on it.

When Cheryl and I came to Costa Rica, we were looking for a quiet, quality lifestyle at an affordable price, hence our decision to move to Grecia (see Buy or Build in Costa Rica at CostaRicaLandToday.com to learn more about how we came to this decision). In short, the Central Valley, specifically Grecia, was perfect for us in every respect. In case you’re wondering, Cheryl and I decided to build our own custom-made home in Costa Rica. For us, it was definitely a better option than to buy an existing structure.

Most people would be more comfortable buying an existing home, but for Ticos (Costa Ricans), when a bigger (or newer) home is needed, it is built. It is NOT risky to build in Costa Rica, but you should be aware of real estate scams. Some guys might tell you that it costs $40 or $50 per square foot to build in Costa Rica. If you hear those numbers, run like the wind! Building prices are a LOT cheaper, and although I can’t give you a price per foot (as it all depends on your needs and requirements), my preference is to buy a piece of land in Costa Rica and build your house on it. But don’t take my word for it! What worked for me might not work for you. My advice is to visit Costa Rica and personally check and analyze the housing opportunities that avail themselves to you while you are here. It’s a personal decision, one that you should very carefully consider and think about from every angle.

Whether you decide to build your home from the ground up or buy an existing house, repair it, and move into it, we, at CostaRicaLandToday, can help. We can help you find your dream house, property, or land for building in the Central Valley, especially Grecia and the surrounding townships San Isidro, San Miguel, San Ramon, San Luis, El Cajon, San Pedro, and Santa Rosa de Poas.

If you want to build, you should keep in mind that the Costa Rican law requires any application for a construction permit to be presented by a licensed architect or engineer. At CostaRicaLandToday, we have talented architects and engineers who will plan your house based on your land and wishes and trustworthy builders who will provide you with a cost estimate for building the house based on your plans. Just contact us at CostaRicaLandToday.com, and we’ll jump in for help! Our wish for you is Pura Vida!