As with any major investment, when buying property in Costa Rica, it is important to do your due diligence.
Focus on getting facts and information about all the steps of your transaction. This means you need to understand what exactly you are buying, what the purchase includes and what the limitations (if any) are. In many countries, there are restrictions on building heights, setbacks, and other construction details which a buyer needs to be aware of before committing to purchasing and building there.
While the Internet has made real estate investing and land purchasing easier, it is wise to approach any large transactions from a perspective of information gathering and fact-finding. Only buy homes or land which you have visited yourself, in person.
It can be tempting to try and purchase a beautiful piece of land from the Internet pictures, but you can make a grave mistake if you end up paying for land, or a home, or some property which is not what you actually take ownership of at the completion of the sale.
Some areas in Costa Rica can not be built upon, but since there are few regulations on who can sell land; the unwary buyer may end up purchasing land which can never be built on. This is why doing your due diligence is vitally important when investing in Costa Rica.
It is important, also, to work with professionals who know the details of investing in this country. Select a company or individual who has experience in this area, who has successfully sold to other happy customers, and, who, ideally, has purchased property in the country him or herself. Find someone with whom you can work well, and don’t be shy about asking a lot of questions and seeking a great deal of advice.
The more you know, the better prepared you will be to make a good decision.
