Are You Interested in Costa Rica Real Estate?

If you'd like a place in the sun, this Central American jewel is a place to consider and Costa Rica real estate is a great way to start your search for your second home, vacation home and simply your retirement dream.

Costa Rica is often called the 'New Hawaii'. This usually means that is that it is similar to Hawaii as far as climate and beauty is concerned but, importantly, that this Central American country nestled between Nicaragua and Panama is how Hawaii used to be fifty years ago! Then Hawaii had huge sugar plantations. Now, however, Hawaii gets most of its money from tourism. Costa Rica has coffee and pineapple plantations but its tourist industry gets bigger every year.

Located in Central America, Costa Rica is an emerging nation who are working hard to get rid of their 'third world' status. Surrounded on the east by the Caribbean Sea and on the west with the Pacific Ocean, The country is truly beautiful and is famous for its bio diversity and indeed even the sand comes in all colors, from volcanic black, browns, reds to spectacular white. The ocean is warm and you can either enjoy a good book on the beach with the occasional swim or go all out with a great variety of water and sand activities from scuba diving to wind surfing to beach volleyball. There are many varieties of insects, birds and animals and this alone is a huge source of eco tourism.

There are two seasons - wet (green) and dry. On the coast it's usually hot and humid - although even that varies from north to south where it is more arid in the north. However, the Central Valley which surrounds the capital, San Jose, has spring-like weather all year round.

People that visit often think of returning to live there - be it for a vacation home, a second home or even to relocate there for good. Prices are still reasonable but the place already booming, so now is the time to buy.

Buying real estate can be as simple or challenging as you like. There are so many options. Land and housing come in all forms and prices! You can buy a simple hut on a piece of land or go all out and have a villa built overlooking the ocean.

It seems that everything is available if the price is right. Even North American realty companies are there to help you - Remax and Century 21, for example are well represented.

There are also companies from the U.S. or Canada who have bought up a large tract of land in Costa Rica and then put it into plots for sale. You can buy this land in various stages, from the original land, the land with roads and infrastructure in place and many companies facilitate building a house for you and take care of all the legalities. Everyone here is Spanish speaking, getting a lawyer that understands what you want and can speak and understand English can be challenging.

These North American companies take care of all that and even after you have your home built, some companies offer furnishing options as well as maid and gardener services. To put icing on the cake, they often offer rental services - i.e. they will rent out the place for you and keep it maintained and cleaned for the time you are not using it personally.

This is a great place to be and Costa Rica real estate is booming so make your decision soon.

The secret to buying a great vacation home or even retiring is Costa Rica Real Estate. Many more resources at http://traveldestinationcostarica.com Article Source: http://EzineArticles.com/?expert=Sandra_Fierling

Top Tips For Property Investing

The Buy to Let market has been very lucrative for myself and many other people for the past few years. It has been quoted by the London Stock Exchange as being the best investment in the last ten years. As a nation of home lovers many of us feel more comfortable investing in brick and mortar. Most of us at some point have purchased a property and therefore have some experience.

The complexity of buy to let investment is far simpler than investing in the stock market. All investments carry some degree of risk and my top tips have been tried and tested by myself, by experience of building my portfolio and working in the property industry for 25 years. Buy to let investment offers great returns even in today's market for those that can wait for the medium and long term. Property prices have doubled every seven to ten years.

KNOW YOUR MARKET. It is vital to your own success to research your market. - Current house prices in that area - The realistic market rent - What type of property you intend to buy and for which tenants - Reasons for investing in that area..

Good School Catchment Area Good commuter Links Regeneration Area
Do Your figures Once you decide what sector you would like to buy into i.e New build, apartment, house etc., do your research into the rental yield. Most buy to let lenders require 125% rental cover of the mortgage repayments and hence your target area can be further fine tuned to look for those properties which fit this criteria. The usual loan to value a buy to let lender will lend is 85% and hence you will have to put 15% deposit in. There are many no deposit schemes available which I cover in my Two Day Property School. Furthermore you will have to consider what is affordable should your property be empty for two months per year plus any maintenance costs, buildings insurance and managing agents costs. I always advise to have a lump sum set aside during void periods. Assume two months void period per year and £600 maintenance per year.

Controlling Your Emotions
When I invested for the first time I was shaking with anticipation... and yep I was really shaking... I had butterflies in my stomach for days just thinking about it. Nobody can explain the emotional excitement and fear. That excitement has since proved to be well founded...in fact, results have been even better than I could have ever hoped for in the beginning. It's something I hope you'll experience too in what promises to be an immensely exciting journey for you , and one which I'm sure you're absolutely bursting to start. A property portfolio is built over time and those who plan well, will really reap the rewards. Carefully do your research and math's prior to committing! Do not follow what others say as it is your decision. Your confidence will increase over time as your experience grows.

The Buying Process
Sorting out your mortgage can be quite daunting. There are hundreds of mortgage products available and dependent on your strategy you will be able to decide which one suits you best. A good mortgage broker will be able to source the best product on the market for you and manage your case through to completion.

Solicitors
Once you have agreed the deal you need to know what is going on at every stage of the process and who you can contact. You need to employ a solicitor to perform the legal necessities such as searches and contractual work.

Always clarify the fees beforehand so you know your initial outlay and instruct solicitors
After you have received your mortgage offer just in case the lender refuses you. Depending on whether you buy a stock property or new build, you need to know a time frame. With new build properties you will be required by the builder to exchange within 28 days. Check that they are able to complete this, some are not used to acting quickly!

Should You Manage The Letting Process?
You can source the tenant and manage it yourself. I would recommend if it is your first property investment to a specialist let and manage it for you. Approach a Rental Agency who specialise in lettings only Agree the fees Get complete breakdown of terms and conditions You can add your special conditions You will need full British gas cover Learn and record everything about your first let When you decide you know enough to rent and manage it yourself, you can take it over. This is far cheaper and you will save at least 10%. Managing your own property will give you an insight into the types of problems such as, boiler break down or leaks. Ask yourself ...Do you have the time to manage it. I very rarely see my tenants. I used to manage it myself, but decided it was more tax efficient and less stressful to let a letting agent do it for me. My portfolio is run as a business. I invest to give me a Better Lifestyle, More Time and More Money.

Property Tax
You can claim many expenses and it is vital to keep a record of your receipts and expenses during your property ownership. It is important to plan your tax strategy with a chartered tax advisor. Legal A Landlord gas safety certificate is required every year to ensure all gas appliances are in good working order. A CORGI registered installer will perform the annual safety check and issue you a certificate.

You must keep all the safety checks and issue the tenant with a copy. You must also ensure that the electrical appliances and systems such as, toasters, washing machines, kettles, cookers and immersion heater are safe to use. If you decide to rent fully furnished you are also legally responsible for furniture and fittings you supply. These must meet the Furnishing and Furniture Fire and Safety regulations 1988. All new and secondhand furniture must meet these standards, unless it was made before 1950. Keep Your Investment In Order Invest in a file management system from the outset. You can buy an off the shelf package.

Terese Bond's Property School is for people who want a better lifestyle. Even at this time Property is the only way to make serious money. I run two day property school's throughout the year. It is a fastrack course for people who are ready to take their life in their hands. 07775912756 Article Source: http://EzineArticles.com/?expert=Terese_Bond