Do I need to speak Spanish to be able to live in Costa Rica?
No. You don’t NEED to. It is however very much recommended that you learn at least the basics. And with time you will, because Costa Ricans are very friendly people that often love to help you practice your Spanish (so they can practice their English). Many people speak (some) English. Some speak it very well, like most professionals such as lawyers, doctors and business people.
Can a foreigner own property in Costa Rica?
Yes. Anybody can own property in Costa Rica. Having the Costa Rica nationality or having permanent residency is not a requirement to own property. Even if you are not living in Costa Rica, you can own property in Costa Rica.
Can I buy basically any property I want?
Yes, you can, but some you cannot own. The difference being that especially in the Maritime Zone (the first 200 meters from the high tide line) properties can normally only be leased from the government. What you pay for, when ‘buying’ a property like this, is the right to lease this property from the legal owner (the local government). There are however some exceptions to this.
Can a foreigner get financing in Costa Rica for a Costa Rican property?
Yes. It is getting easier to do that, even though it will still take some time and paperwork. Banks and other financial service providers, both governmental and private, do offer financing with good terms (relative to each situation). E at Cornice will be happy to help you fid the best solution for your situation, in case you want to use some type of financing.
Can I build on any property just the way I like?
No. Every construction on a property must comply with the rules established by certain regulatory plans and laws. Even on two properties laying next to each other these rules can be very different. These rules relate to the minimum size of a lot, the maximum percentage of ground coverage, whether or not you can cut certain trees, the minimum distance between a construction and the boundaries of the lot, the minimum distance from a river or spring, and many other things. You always need to be aware of what is and isn’t allowed BEFORE buying a property. Of course we, at Cornice, are very glad to help you with that.
Do I need professional help when buying a property?
Yes. Once you know that much of the legal paperwork in Costa Rica has to be done in Spanish, you will realize that unless your Spanish is very good and you have experience in completing the, often bureaucratic, processes involved, you do need (some) help. Of course all legal processes are done by lawyers and notaries (often the same person is both). But besides them, when it comes to buying real estate, you need a real estate professional that understands you and can communicate with you without language barriers. We at Cornice can do all the research necessary to make sure that in the end you buy something worthwhile without worries.
What else do I need to know?
Many things. Every situation is different. Details matter. Surely more questions will rise. And all will be answered. Because bringing your wishes and needs together with the realities of the current real estate market, finding you that property that satisfies most of your requirements, if not all, that is our challenge. Ask us. If we don’t have the answer available immediately, we will find it out for you. Contact us if you have more questions.
