Covid 19 has created quite a time to reflect on investing in Costa Rica in many levels. One important thing learned during this process is access and use/enjoyment of your investment.
If you are considering buying into a development (housing community) there are some extremely important things to consider, even when not under restrictions such as Covid 19, but also consider the impact of those.
1). When you purchase in a development, you are not only subject to the municipality around the development, but the developer (and HOA) as well. This means you have several sets of rules, regulations and decisions to follow. Also, if the HOA is not “set up”, it is simply a way for a developer to force decisions upon you as “acting” HOA.
2). Regardless of whether you begin with an attorney assisting you, consider a few important things: Is the attorney acting on my behalf or the company? Even if I have an attorney, if the company breaches or mismanages the build or the money, it will still take money and time to attempt to rectify the issues.
3) Companies that send out newsletters, letters to clients, set up social media, and reviews DO NOT have to be truthful and transparent, you are relying on their intrinsic value system which may be non-existent. Make sure you read the find print on advertising and in contracts, especially when it says -not everything advertised exists and we will do our best to provide amenities and infrastructure but do not promise it will actually be done.
4) Know the company, history, country, people, banking, legal system, etc before you invest your life savings and dreams. Many scammers USE the beauty of CR and your emotional attachment to your dreams to take advantage and there are a lot of horror stories.
5) Get on blogs and forums of those who have attempted to do what you want to do! Their successes and failures give you more opportunity to see your dreams realized!
PURA VIDA!