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US Retirees Falling For the Charms of Costa Rica Condos
If you are in the lookout for a retirement heaven, consider this package that Costa Rica can offer you: quality real estate for a price that is far cheaper than comparable US properties, low living costs, stable political culture, welcoming people, picturesque locales and just a few hours air travel to access all these! While great logistics is one of the most important reasons for moving to this country after your retirement, cheap real estate is another big reason why thousands of US retirees have already moved in this country. Thousands more have started planning and investing in suitable Costa Rica condos to spend their golden years in style.
Costa Rica is one of the Latin American countries that roles out a red carpet reception to the foreign real estate investors. Particularly for the retirees, there is no dearth of wonderful investment opportunities. The US retirees are also encouraged to additionally invest in tourism related Costa Rica condos, equity market and country’s agriculture. If your plan involves a frequent travel to your home country that keeps you away from your Costa Rica condo home for a considerable part of the year, then you can put it into rental program, so that it earns money for you when you are away.
However, before buying Costa Rica condos, you must check with the legalities involved with living retired life in Costa Rica. To begin with, the Costa Rican residents can apply for attaining varying levels of legal status; the retirees with a monthly income of $600 a month can qualify for the retired or “pensionado” status. If you want a range of additional benefits, you have to obtain the “rentista” status, but for that you must have a monthly income of at least $1,000 for a minimum of 5 years. The additional benefits include the right of operating an independent business among the others. However, if you plan to work within the country, you will be required to obtain a separate permit. To continue with the particular status, the applicants are required to renew a card every two years. However, you will not be doubly taxed for those incomes that are generated outside the country.
Costa Rica condos are not only affordable, they are varied in sizes and types and can suit the needs and budget of the retirees belonging to all status groups. With more and more US tourists coming in this country, more people are getting acquainted with the high quality of living that Costa Rica condos can offer. The quality of living apart, the biggest reason that more and more retirees are flocking into Costa Rica is that here you can get more value for your dollars than you are likely to get back home. Add to it the list of luxury amenities that Costa Rica condos offer to the residents and things just become irresistible for the US retirees who are currently stuck in the middle of the worst recession of the modern history.
In the end, here is a practical advice for those contemplating retirement in Costa Rica condos: spend at least few months in the country before you finally take the plunge. Carefully examine all aspects of Costa Rica condo living and then embark upon the all important decision. But with the sunny climate, spectacular nature, array of activities and above all, a large community of expatriates to give you company, it is most likely that your decision will be on the affirmative.
