Costa Rica first became popular with expats in the early 90’s. Back in those good old days, it was mainly backpackers, sport fishermen, and adventurer’s who invested or built new homes in Costa Rica. Back then, Costa Rica was pretty rough and often called the ‘wild west” by expats living here during that era.
Today, Costa Rica is attracting people from all walks of life; from the rich and famous, to regular folk like me looking to stretch out their retirement years in a tropical lifestyle.
Two things many expats finding their way to “The Jewel of Central America” have in common are; first a desire for a simpler and relaxed lifestyle on the ‘road less traveled’ and second to make their retirement savings long-lived with a good quality of life.
With the chaotic, unstable economic world these days, the Costa Rican back-to-basics lifestyle is not only appealing, but economically logical and definitely a good option for you to investigate for your Golden Years.
Costa Rica in the 21st century is attracting a new breed of investors and expats looking to make their mark in the new world of living and investing abroad. Escaping the uncertainties of life back home, they are finding the freedom and means to live their own lives at affordable prices and a quality they expect.
Meet Ian Tompkins who saw The Safe Haven of Costa Rica as a Good Retirement Choice
Retiring in Costa Rica is not as difficult and many think. Ian Tompkins is a perfect example. He moved here last year with his wife Jessica and their 15 year old son, to reinvent himself. Before arriving on the shores of Costa Rica he was an insurance broker in Toronto Canada.
“I was looking for something different and after visiting Costa Rica the year before on vacation I fell in love with the idea of owning my own little ‘cantina’. I always wanted to own my own bar and even though I made pretty good money in Canada, I just couldn’t afford the start up or the risk there.
“I wanted to find a little bar in Costa Rica with a house attached or apartment above the bar to save on rent, basically a cash-cow to get up and running fast down here. I was surprised because turn-key restaurants and bars are actually easy to find in Costa Rica.
I found a great little cantina with a 2 bedroom apartment above, turn-key for $25,000 USD, everything already in place, ready to go and a good local client base – it was the perfect start-up that made money the first day… and every day since!” Ian told me with a hardy laugh.
Ian is not alone, North Americans and Europeans alike are discovering that living abroad is not only a good option but in many cases a necessity especially if they just don’t want to continue working past retirement age.
“Right now is a perfect time to buy or invest in Costa Rica, especially if you are retiring or are planning retirement because we seeing amazing opportunity in the adjusted prices after the global housing crisis. We’ve seen 10 to 15 percent gain in value in some areas of Costa Rica and a continuing trend, so this is another reason to invest now.” said reported Brett Elliott, Chief Executive Officer (CEO) of CRRE (CostaRicaRealEstate.com).
If you are looking to escape to the tropics to reinvent yourself, Costa Rica has a lot to offer. As an emerging market Costa Rica is bursting onto the international stage through regional and global free trade agreements opening doors for new business development in most of its sectors, from small mom & pop shops to large scale production.
For those entering their retirement years or in the planning stage, living abroad in countries like Costa Rica has much offer as well, with significantly lower cost of living compared to North America, including health care which are dramatically lower.