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5 things to look for when buying/renting a house in Costa Rica

Buying a house **siiiiigghh** one tedious path of paperwork and visits to buildings until you find the one that fits your family and lifestyle to call your HOME

The process is different from a country to another, and to help you have a better understanding of what you'll need -besides money- to avoid getting frustrated when finding your nest.

 

Get to know the developer 

Research on previous projects and their history, check out the style they specialize in. Your home will host all your family and lifestyle, so make sure the developer understands and shares your likes and needs in a building.

Also other than style you should make sure the company is registered and has authorization for the project by the MEIC.

 Pic of towers at Central Avenue by  @Caya_c137

Pic of towers at Central Avenue by @Caya_c137

 

Certain inspections are NOT mandatory here

Lead and mold inspections certainly give the buyer peace of mind, but in Costa Rica are not a requirement in order to sell a property. Since Costa Rica's weather is VERY humid and mold is bound to come to every house, landlords are used to make maintenance work yearly to get rid of it. 

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Check that territorial taxes are up to date

This is important, in order to have any legal paperwork going on. It is as easy as checking online at the local municipality with just the ID of the actual owner of the property. You don't want to buy a house with debt!

 San José, Municipality 

San José, Municipality 

 

Have the house appraised by a legal counselor

When asking for a mortgage in Costa Rica or buying a property the way to make sure you are negotiating with the right price is getting it appraised by a legal counselor. Not any attorney can help you, but almost everybody knows one that can. As most lawyers say here in Costa Rica; "Everybody is a lawyer nowadays"

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Have a guarantor

If you are applying for a mortgage you will need a guarantor to co-sign with you. It is not just about your credit score, but guaranteeing the bank that someone will pay back. 

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