Real estate is more reasonable in Costa Rica when compared to most other parts of North America like the United States and Canada. However, purchasing a home is a significant investment that requires careful consideration, one of which is the cost of the house. If you are wondering, “what is the average cost of a home in Costa Rica” this guide will give you an idea of what it cost to buy a property in Costa Rica.
What Is The Average Cost Of A Home In Costa Rica?
When you are thinking of getting a home in Costa Rica, the first thing that you have to consider is the price of the home. Location and type of property are the key aspect when choosing a home and creating a budget. A home located in a rural area in Costa Rica will be cheaper than homes located in Santa Ana or Escazu. Property closeness to commercial centers, access to the highway, hospitals, schools and others will also determine the cost of a home.
For instance, to get A 2-bedroom house in Grecia, Alajuela, in a gated community with amenities such as gym, tennis courts, and vast gardens, you may be looking at US$120,000. On the other hand, a condo with the same features in Escazu can start at about US$100,000 more due to its closeness to supermarkets, centralized location, shopping malls, schools and more.
Condominiums and gated communities are popular among locals and expatriates. For instance, in the Guanacaste Region, especially in Tamarindo and Jaco area, there are beautiful beachfront condos with ocean views, and modern amenities such as the gym, pools, and playground and condo prices run from US$130,000. Average prices for Costa Rica homes include:
Low-middle class homes: prices average between $24,000-50,000.
Upper-middle class homes: prices average between $100,000-300,000.
Custom Homebuilding: prices for this type of property start at about $80 per square footage.
Coastal homes: prices start at $200,000 for the smaller condos and up to millions of dollars for beachfront condos and homes, but these vary depending on finishes, location etc.
Luxury homes: prices start at $750,000 to higher.
Keep in mind that a significant part of the country’s economy depends on the tourism industry, so these types of houses can also be a great investment for those looking for extra income.
Finding a Home In Costa Rica
The most popular areas in Costa Rica, especially for expatriates, are Gold Coast, Central Valley and Southern Zone. You can search for homes in these areas. You can also look for properties online until you find the one that meets your needs. Deciding on the property to purchase can be an overwhelming and stressful process, so you may want to work with a reputable real estate company in Costa Rica. However, keep in mind that there is no requirement for real estate agents to be licensed in Costa Rica, so make sure you hunt around for the best ones.
When you are ready to find the right home for your need in Costa Rica, you can contact Bella Vida Costa Rica today.