Guanacaste Property ? Did I miss the boat ?

Discussion in 'Caribbean Real Estate' started by sunny_8, Jul 6, 2007.

  1. sunny_8

    sunny_8 New Member

    All,
    I am a newbie trying to invest some money (60K) in Costa Rica. Realtors point me to Guanacaste. I am only looking to buy a lot of land or somthing.

    The realtors tell me to buy in the Surfside Estates development. ONe lot is about 480sq meters for 55K.

    They say I will be able to sell for upwards or 80K when the mariner opens.About 2 yrs....or so is when they think the 80-90K mark will hit for lots.

    My questions :

    1. Is it better to buy in a gated community that is nearly all done with homes ? Resale ?
    2. Is Guanacaste still looking like it will provide double digit returns ?
    3. Single lots a good idea ?

    What do I need to be aware of ?
    Are the realtors pulling my legs ? I see tons of condo's on the market, from 100K to 400K, SFH for 400K in the same area.

    The Lot I am looking at is 3 blocks from the Beach, 3 min drive from the "Flamingo mariner", its at the Playa Potrero area. Its not in a gated community and I will look to sell it in 2yrs.

    I read that a lot of hotels are building there, and that Guanacaste is the hottest place right now for development, which began about 2-3 yrs back. Just not sure if I missed the boat and if prices will continure to rise ?

    I am thinking I cannot lose being 3 blocks from the beach....where homes are 325K right now....what you guys think ?

    Thanks
     
  2. Adrian B

    Adrian B New Member

    Who is the realtor?, Lent Eckhart Properties?

    I know the area very well, but before you buy anything, you should make the due diligence of the property to check any issues that could come up and affect the property, ie: land use of the property, etc.
    I can advise you with the due diligence, if you want contact me at 506 - 205-3957
     
  3. LisaJo

    LisaJo New Member

    Dear Newbie,

    If you'd like me to help you, as exclusively a buyer's agent and not representing the seller, then by all means I can help, and probably save you from a bad deal.

    Here's one tip for free. If the cost of the lot, including any improvements that you may need to make yourself, is 15% of the total sales price of the lot and house later on, then it may be worth looking at. So in your example. $400,000 house including land, x 15%, equals $60,000 lot. But you say you can buy a SFH in the same area for $400,000 today, but on a bigger lot? With a better view? (You have no view). Hmmmm.

    Are you here? Have you visited? More than once? You really should visit first, get your education on the ground, and write off the trip as a business expense. Otherwise.......

    Anyway, let me know when you're coming down, and I'll be happy to help you out!

    Your Costa Rican expert,

    Lisa
     
  4. awahee123

    awahee123 Banned

    Hello all,

    What kind of prices are we looking at to invest in Costa Rica?.
     
  5. LisaJo

    LisaJo New Member

    Prices in Costa Rica

    Hi W.A.,

    The prices of investment property in Costa Rica run the whole gamut. To provide you with more information could you let me know the following:

    • Are you looking for land investment or construction prices?
    • If for example, you are interested in a condo in a gated community, would you being using it for vacation or rental
    • What is your price range?

    An example of a wonderful investment property is The Oaks Gated Community. 2bedroom 2 bath fully furnished gated nature preserve within 10 minutes of 5 of Costa Rica's most magnificent beaches is only 159,900. But prices are going up December 15th because 48 units are being delivered to the new owners.

    Let me know if I may be of any further assistance.

    Lisa
     
  6. awahee123

    awahee123 Banned

    Thanks Lisa,

    Just trying to get a feel to see where I might invest next,at the moment I am comparing developments and returns.Thanks for the info.
     
  7. jvizman

    jvizman New Member

    you have not missed the boat alot of good things are still to be found!
     
  8. revealrealestate

    revealrealestate New Member

    I realize this reply is many months after the original. The answer is - "it depends". It depends primarily on definitions. There are still areas/developments in Guanacaste that have properties for sale that are below the median price for Costa Rica as a whole. But you have to be careful and pick your investments with due dilligence. For example - it is still possible to buy long ocean view condos in Flamingo and ocean view condos in Tamarindo (yes Tamarindo) that are priced below the median for Costa Rica as a whole. And right now there will be plenty of deals to be had.
     
  9. DiverDan

    DiverDan New Member

    Hi, also coming into this one a long time after the event, but it might be really interesting if anyone following this is on the ground in costa rica - someone above quoted about 160k (I assume in USD) for a 2-bed 2-bath at somewhere called "the oaks gated community". I'd love to know if there are any resales there currently and what they're on the market for?
     
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