Playa Lagarto Eco Developement

They take that because you earned that in Canada while you are / were a resident.  They deduct 25% of my RRIF income now but I file income tax and get most of that back due to planning.  Any money I may earn here is not taxable by Canada as I have severed residency.

Hi , I mean what would they take on rental income in Costa Rica ?

Back to my previous post, nothing if you are no longer a resident of Canada.  If you maintain residency ties I do not know.

Just remember that there are many thousands of vacation rental properties here...and location is KING, so many sit empty.

Costa Rica wants you  to pay tax on properties rented for less than a 30 day period.Plus you pay management fees, cleaning etc.

bonjour, ola,,,,How are you doing wtih your house in Playa Lagarto. I need guidace since I will go see the lots and possiblities of ecodev as I am hoping for real ecosense housing,
thanks ,monica

If I become a pensionado Canadian goverment takes money away from our pension of 65yrs up and for the rentes du Quebec?

Bonjour Monica, We are doing great !  We love it here in Playa Lagarto Eco Dev.  If you have any specific questions, please feel free to ask in private if you wish......English or Français.  M-C

Bonjour Ermac,
Contente de voir que sa va bien !
Avant tu déjà un p'tit video que tu pourrais m'envoyer ?
Aussi je va peut être té demander quel question par email.
Je suis prêt de faire l'achat !!!!

Hi everyone, it's me again,
You guys and girls must of done a lot of research before buying so I would love your opinions !
I'm looking to by the last villa in the next few days, I've never been to Costa Rica.
I'm getting it as an investment, as I will only go once a yr for now, they say it will rent 55% of the time ? Do you think that's a realistic figure for that region ?
I find it far away from everything for tourists.
Do you highly trust the company ?
Do you trust the company will do well ?
Is the work on the villas advancing quickly?
Do you think it we be a profitable project ?
Did you take your own layer in Costa Rica ? Or , in your own country ?
I know it's a lot of questions but I would love to get your opinions !!!
Ty so much !! 😀😀
Julie

I have already advised you to check out, in person, any development, before purchasing any property. Important to look at the competition...

To expect it to be rented out for 55% of the year, is too high, I think.   25% may be more likely.

And I agree, that it is '....far away from everything for tourists'.

We have a number of houses that rent out in our development.  Aside from the two long term rentals the others mostly rent from 2-4 months.  I personally would not invest in anything in Costa Rica without having been here multiple times.

Hi terrynviv,
Are you right in town viv or a bit isolated ?
Yes I know I should go, but I can't and I feel it's the right time for me. I'm sure I'll love it, it's totally my style, if not I'll re-sell it hopefully with a profit as it is an investment for me now. If this investment works it will allow me to join you guys in Costa Rica in about 6 yrs !! 
Ty for your advise, I appreciate it !!! 

Ty for your advise, I hope I'm not making a bad decision, still have a few days to think !!

Completely agree with Kohlerias. We also bought lot in PLED and at some point decided to cancel the purchase. We too had in mind to use it for investment at least for the next 7-10 years as we're to young to retire, but after our research also thinking that at that location it will not be to easy to rent it out and 25 % is a right number....
Also considering that most of the people who purchased small lots & villas did it for investment ...so ..big competition plus consider all expenses and HOA fees you have to pay monthly regardless will your house be rented out or not ..just my two cents

you need to research other properties. all available properties are not all in a "eco village" environment.
I found a home in a private development, low hoa, secure, and 2 minutes from the beach, and significantly lower in price than a "village"
I would guess "visitors" coming from other parts of the world are looking to be near a beach and/or near "shopping" whether for food or mall type stores
Think about renting your place and telling the renters they will need a 4x4 to go the market for a loaf of bread!
Sorry to say, it sounds like you are in a big hurry??

Hi Ty,
Did you ever ask them ?
I just did in an email.
Ty that's a very good point ! 

Sorry if I offend but Julie et Bri you are not listening.  I am thinking "Troll" but definitely do not want to offend a legitimate (albeit mis-informed person).  You are either extremely naïve or you are yanking us.  If you are naïve then re-group.  If you are a troll then .................................

They will have a market in place and a restaurant however I'm not sure I can trust there time line.

Ya your right, when the snow and cold weather comes I freak out, I live way north, I wook up to another feet of snow and -17'C. And the -40'C for another 5 mths are coming.,,,lol
, I appreciate your advise !

Sorry, but I don't think you know about this company or there development, I am not the only person that has bough sight unseen, I'm sure I read on here of a few people buying site unseen. Don't you think if it's a good company and its a good development that it might go up in price with time ?
I don't think I'm that naïve, I've gotten pretty far in life, but unfortunately I was diagnosed with cancer in 2009, I'm lucky to still be alive and I don't have the commodity of waiting to live my dreams.
If you really think this would get me in trouble, I appreciate your advise.
No I'm not troll,,,whatever that is, I guess I am naïve.
I am not yanking you !!! Sorry you think so.

you are pensionada in Costa Rica so goverment of Canada can take % of pension?
If it takes 4 years to get the pensionado, then you are not taken any money from the pension? thanks monica

Allo Monica,
Ca j'ai aucune idée, tu regarde a Playa Lagarto toi aussi ?

Hello Monica,

The reason the Canadian gov is taking 25% from my military pension is, I beleive, because I still have a Canadian passport and a Canadian bank account.  Unfortunatelly, Canada has no  économic treaty with Costa Rica, therefore my pension can not be deposited directly in a bank account here, so I have to use my Canadian one.  Hope this make sense.
It only took us 1 year to get our "pensionado" status. I understand some other ppl takes longer to get theirs. We used the same law firm that Recap use here, in San Jose, CR, to get it done.  No regrets so far !   M-C

you were in the military,,nice that you now enjoy your life in CR!
I will be in Tamarindo Dec 1st for 3 months, if you come there, let,s have lunch!
for old age pension ...do we get to keep it all?

In regards to your Canadian pension, 25% will be 'withheld' when you have applied to be a 'non-resident of Canada for tax purposes'. You may qualify for a lower rate, but it will take time and at tax time, you apply for a refund...but it does takes longer than a regular refund.
Plus it is very important to consider the exchange rate which makes it much worse with  the dollar difference.

However, when you apply for residency as a pensionado, your full pension amount will be taken into consideration for your CAJA (mandatory health care) payment.

It 'usually' takes between 1-2 years to get temporary residency, and 4 years as a temporary resident when you can apply for Permanent residency, but as soon as you apply for 'non resident status', the 25% or the amount they decide on...will be 'with held', and this will continue for as long as you are in this status.

BTW, to receive cancer care in Costa Rica you must travel into San Jose, for treatment.

In my experience in building here, the cost of land and construction will not necessarily give you the value that is recorded in the land registry office of what you could hope to expect, so making a profit later on is not to be relied on, especially for investment purposes. Most properties that are available are now lower than when built.

Most of the previously owned properties sell or have an asking price  for much less than the original investment.

Article

I've been browsing their website and it looks painfully low on information.   For instance,  the gallery entitled "The Development" are all pictures of the beach.  And when I see phrases like "life-time opportunity", I just shudder.  The whole Pacific coast is littered with real estate for sale.  The rental market in the Tamarindo area is extremely competitive.  I would question the rental potential of a development so far away from any substantial amenities.   

I was also wondering if the development has their own water supply?   Guanacaste has massive water shortages in the dry season and whole towns have regularly lost their water for days.

I'm not trying to be negative on the development, just raising questions that I had myself when buying property in the area.   Firstly, I would never purchase property in Costa Rica without boots on the ground.

The developer has drilled wells. That's the water supply. I've owned land there for about three years and only now are a few houses coming up. There is no "gated community", no road yet to the beach which would be a half hour walk away (if there was a road), and 30-40 minutes minimally to groceries, gas or any other services. The "road" within the development is in many places impassable without a four-wheel drive and some courage.

Is this Because you have your residency in Costa Rica ?

Merci Joan Marie,
Do you still have your land ? Do you expect to build on it ?
They say the villas will be ready for May, I know you've been there, does may sound right ?

I still have it. I don't think I'll build. I've bought a condo in Tamarindo nearby and I'm in love with the town. I'll likely sell the land at some point.

Julie et bri, I'm of the same opinion of TerrynViv, in that you are not listening to what you are being told. You are asking for opinions and you are dismissing them along with the very important information that Joan Marie has provided you with, and since she has been recently to this project, I would say that her information is credible.

Good luck ... and I am no longer going to be involved with this discussion.

Hi kohlerias,
Yes I am considering all your opinions and advise, good or bad !
However I've been looking at many development and I have confidence in this one, plus I have spoken to other people that bought in there other developments and the company seems to be good and trustworthy. Of course I want to make an informed decision and there's risks involved and every one as different advise which I all take seriously.
Ty so much !!
Julie

I'm starting to wonder, are some of you saying that buying in Costa Rica is not a good ideal all together ?

hello yes it,s quite a big step to buy in Latin America and like the others say it's better to go there, boots on the ground to invetigate . Iwould stay on premise for a week to see what's real...and the beach road isn't yet done...Little too far for rental oppoutunities I think
Iwll be in Tamarindo tomorrow Sunday until march 15th looking for eco community...less far from social life and ocean
monica  good luck to you

PLEASE, I reiterate, you say you have confidence in THIS development but you have not seen it and are contemplating investing blindly.  Why invest now?  Come down here and scope it out.  Your "investment opportunities" will not disappear.  Google "Pacific Lots", they have sold many hundreds of acreages and most of the sold properties now have for sale by owner signs on them.  Tranquilo Julie!

not sure she gets it. almost seems like someone playing on this blog. if not, she will buy and be stuck

I guess I was hoping to get the advise of more people that have experienced with recap inv. and there playa Lagarto project.
Now I see that people that don't,,bash the ideal completely.

just read the posts in response to your questions, all the answers are there!