Below are some FAQ’s from http://www.bahiadelagarto.com/ about thier master planned, OCEANFRONT community in beautiful Costa Rica.
1. What are some notable features about the Bahia De Lagarto community?
Some of the best view property in Costa Rica, short walking distance to the beach, gated community with guard staff, clubhouse and community pool, hiking and horse trail, natural harbor in the bay for boat launching, close proximity to the Liberia international airport. etc…
2. Why buy property in the Guanacaste area?
Guanacaste is the fastest growing tourist and investment property region in Costa Rica. It has the most rapidly improving infrastructure including new roads and increased flight traffic to the new Liberia International Airport. Guanacaste is by far the driest province in Costa Rica having average annual rainfall totals around 65 inches, making it the best microclimate in the country. These features and others have sparked a real estate boom that will be sustainable in the region for many years to come.
3. Can I as a foreigner buy and own property in Costa Rica?
Ownership of real estate in Costa Rica by foreigners is fully guaranteed by the constitution. In addition, foreigners enjoy the same ownership rights as Cost Rican citizens, regardless of whether the property is placed in the name of a corporation or in the name of an individual. There are no restrictions on foreign ownership like in Mexico.
4. How secure is a real estate purchase in Costa Rica?
It’s just as safe to buy titled land in Costa Rica as it would be in the US, Canada, or Europe. Public registration of ownership, liens and encumbrances are no different.
5. Can I have the title of property in my own name?
You can legally have the property in your own name, however, we recommend using an attorney to set up a corporation as the owner of the property. Our attorney can explain more thoroughly but simply there are asset protection and title transfer advantages to having the corporation.
6. How much are the property taxes?
Property taxes in Costa Rica are extremely low when compared to the United States. This is one of the attractions for investors.
7. What about capital gains tax?
There is no capital gains tax in Costa Rica as long as your property is not used in a for profit business. You should consult a Costa Rican attorney and your tax professional back home before doing any bank transfers to make certain your not opening yourself to any unnecessary tax exposure.
8. Can I get financing in Costa Rica?
Financing through a bank is kind of complicated because of the bureaucracy. You can get faster approval and better rates by getting a second mortgage on a U.S. property and using the cash for your Costa Rica real estate purchase.
9. How is title transferred?
When buying property in Costa Rica, property is transferred from seller to buyer by executing a transfer deed (escritura) before a public notary. Attorney’s serve the role of public notary in Costa Rica. Once a transfer deed is accepted for registration, the Public Registry will return the original document within 45-60 days.
10. Do I need to use a Real Estate Broker?
No. Attorney’s are necessary for the title transfer in Costa Rica and they also perform all of the functions a broker would. Real Estate Brokers can be helpful in finding properties but are not necessary for the transaction.
11. What is the weather like year round?
Most days the temperature is 75-90 degrees. There are basically two seasons, the dry season and rainy season. The dry season is from December to April and has less afternoon showers than the rainy season.
12. Is there decent healthcare?
Yes, there is good healthcare available within driving distance of Bahia De Lagarto. For major medical problems the best hospitals are in and around San Jose.
13. What activities are in the area?
Surfing, snorkeling, horseback riding, hiking, golf, sport fishing, white water rafting, dining, natural hot springs and spas, canoeing, rainforest canopy tours plus many more.
14. How much will it cost to build my house?
Approximately $95 per sq. ft for a custom home built to U.S. standards, incorporating exotic woods, marble and other top quality supplies for construction.
15. Are there responsible building codes in Costa Rica?
Costa Rica actually has fairly stringent building codes, contrary to popular belief. The problem is that these codes are rarely enforced, especially in rural areas. That is the main reason we pre-screened a reputable builder to offer their construction services to our residents.
16. Is there internet access?
Yes, High Speed DSL and satellite t.v. are available
17. What infrastructure is provided when I purchase property in Bahia De Lagarto?
Roads, water, and power will be brought to the front of each lot ready for you to begin construction on your home.
18. Are there association by-laws?
Yes, currently an Owner’s Association has been established in order to maintain standards of building and conduct for all residents and their guest all for the purpose of security, tranquility, and increasing the property values.
19. If I plan on living on my property for only a portion of the year, may I rent my house and is there a management service?
Yes, Bahia De Lagarto will offer in-house property management and rental services.
20. Do I have to worry about squatters?
Absolutely not. You may have heard myths of squatters taking over a foreigner’s land and deeming it worthless. That is impossible in today’s Costa Rica in a development like Bahia De Lagarto.
21. Is Title Insurance Available?
Yes, title insurance is available through “Stewart Title of Costa Rica” at owner’s expense, however it is not necessary when using a reputable attorney on your purchase transaction.
22. How long am I allowed to stay in Costa Rica?
You are on a three month tourist visa. You will have to leave for 72 hours every three months unless you get resident status.
23. Can I become a resident?
There are three main ways to get residency status Pensionado, Rentista or Inversionista. Retired, investor etc. Our attorney can help with the paperwork to get this done
24. Can I use my property for a business?
We do have designated lots zoned for commercial use, restaurant/bar, market, activities, bed and breakfast. Please inquire about availability.