Costa Rica Home Inspections–Do they exist? Do I need one?

Written by Michael Simons on . Posted in Buying and Selling Property in Costa Rica, Costa Rica Service Providers, FAQ's, Investing in Costa Rica

Costa Rica Home InspectionsCosta Rica home inspections are important for homes like this

Yes, Costa Rica home inspections are available.  Moreover, we always recommend for our buyers to have a professional inspection done during the due diligence period, to see if there are any issues that need to be addressed. Many homes are older, and it is obvious to the buyer that some renovation or TLC is needed. This is usually reflected in the asking price, and also taken into consideration by the buyer and his agent when they write the offer. But if there is something more serious, it will be found with a good inspection. Then the buyer usually goes back to the seller and his agent and either requests it to be repaired, or gets a credit at closing in the form of a price reduction. Then they can repair the issues themselves after closing.

There are two fantastic Costa Rica home inspections professionals that we use on a regular basis. They give full detailed, North American inspections with photos and comments. The price is anywhere from $300 to $1000 depending on the size of the house or condo. Make sure to get a quote for the inspection before giving the OK. Both are also general contractors and they can give you a fair estimate to repair any issues that might come up. Then the buyer and his agent can decide the best way to proceed.

Marko Karkoc

pacificrenovations026@gmail.com

8581-8433

Clermont Gagne

https://www.costaricahomeinspection.com/

clermont.cr@gmail.com

8887-8484

Is Costa Rica a Good Place to Make Money on Rental Property?

Written by Michael Simons on . Posted in Buying and Selling Property in Costa Rica, Costa Rica Real Estate Market Update, Investing in Costa Rica

We have been telling you for a while that Costa Rica is a good place to make money on rental property.  It turns out that we are not the only ones that think this.  A recent article in the Business Insider found that Costa Rica ranks as the 3rd Best country to Buy Rental Property and make money.

Make money on rental property like these condominiums

The research was done by GOBankingRates who reviewed important indicators like monthly rent, rental tax rates and gross rental yields to come up with the amount, expressed as a percentage, that a landlord can expect as return on his investment before taxes, maintenance fees and other costs.  Each metric was assigned a score, and the three scores were then combined for each country to form an overall score, which determined the final ranking. The higher the score, the higher the potential income for property owners.

Here are the numbers for Costa Rica:

Rental yield: 7.48%

Effective rental income tax: 5.16%

Monthly rent: $1450

Although Costa Rica’s rents are comparatively low, it has the second-highest rental yield in the survey, and its effective rental income tax is lower than 72 percent of the other countries reviewed.  Only the United Arab Emirates and The Philippines beat Costa Rica out of all the countries in the world.  Check out the article for details on how to make money on rental property in Costa Rica.

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