Costa Rica Real Estate – Property experts all agree that real estate in Costa Rica is a great endeavor and a worthwhile investment. It is the only place in the world where the number of teachers is higher than the number of policemen, no soldiers are employed by the government to keep peace and order and investors have the same right as the locals when owning a real estate property. This exotic paradise is also politically stable and offers open investment and trade policies. Now the question is, “how can you profit in Costa Rica’s emerging real estate market?” There are 5 simple stages you should look into to ensure you will get a juicy return on your investment.
- Buy raw land and hold on to it! Remember, land is valued according to its worth to the local community. No matter how beautiful the surrounding is, or how near it is to the ocean that offers great sunrise and sunset views, and even if it offers a sweeping view of the lush valleys and exotic wildlife it isn’t worth a penny if it is being used as a grazing land. However, once other investors takes interest in the area and starts making developments you can greatly benefit if you own a parcel of land that is nestled in the midst of all the land’s grandeur.
- Invest in a planned development. When developers acquire a big parcel of land they usually divide it into smaller chunks to easily manage it. During this time, smaller investors and buyers come in to get a great deal and add little developments they feel are necessary. What are significant in this phase are the infrastructure; roads, water utilities, electricity and other basic services that the next stage buyers will look for and expect to see.
- Buy land and build something. This phase takes place once the basic infrastructures are all in place and end users begin to join in. The focus then moves from land development to either a residential or a commercial development. This phase is best for you to buy a lot where you can build a property that can generate income like rental homes or even large-scale development like constructing a hotel or shopping center. Holding on to your property during this phase is no longer an option as it is no longer a successful model if more and more buyers and end-users have already moved in.
- Choose an Up-and-Coming area and launch a business. When an area has taken off and a community has been established, the best way to earn money is to provide goods and offer services to the members of the local community. Development always means growth in population and an inflow of residents looking for a place to serve their coffee and food, mend their clothes or buy publications that are written in English. You will never run out of options as to what services or goods you will trade in this phase.
- Invest with a trusted firm or developer. The rule of the thumb in Costa Rica is that if it is too good to be true, most likely it is. Beware! Be cautious of people who are on the lookout for newcomers to con. The key in here is to proceed with caution yet not be afraid to make an investment. How is this possible? All you have to do is look for a trustworthy team or trusted professionals with proven track record of success. It may not be as marvelous or grand as owning a beautiful piece of land or be an owner of vast properties but it can be profitable in the long run. The only requirement in here is for you to be good at analyzing the area, figure out where it is headed and know what to do to help the development to progress to the next stage of improvement.
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