A very common question I receive when people begin looking at making the move to Costa Rica is, “Should I rent or should I buy a house in Costa Rica“? People make the point that you should rent in Costa Rica for a while, to make sure you like it before you buy. There is obviously some merit to this and of course each person has a different opinion.  Personally, I have always been a firm believer in home ownership as that is the American Dream, right?  

I have owned many properties in my life, buying my first house at 23 years old. I have never wanted to rent a property for quite a few different reasons.  First of all, it isn’t MY property.  So I can’t do what I want.  I can’t paint it the color I like, build the BBQ I need, or plant the landscaping I want to see every day.  I am at the mercy of the owner and must live by their rules.  Now, if the owner happens to be a great guy, who is very flexible, then that might work out ok.  But what if the owner isn’t easy to deal with?  We have all heard the horror stories of crazy landlords and I have never wanted to put myself in that situation.  I have owned every property I have ever lived in, and I also own the real estate that my businesses operate on.

Tank Tops Flip Flops Newsletter edition no. 45

UPDATE 2020.  La Finisterra Hotel is no longer operating but it was a long time Playa Hermosa staple for over 20 years.  The story is still the same.

Having lived here now for 11 years I have seen a lot of changes; almost all of them for the better.

Like everywhere in the world, Costa Rica was booming in 2006 and 2007 and at the crash of 2008, as you can imagine, everything came to a screeching halt.  But over the last couple years we are seeing a tremendous amount of new investment, not only in the real estate sector (homes, condos, lots) but also with the commercial opportunities.

Many of the original business owners in the Papagayo region were not prepared mentally or financially to survive and continue to grow in a down economy.  I tell everyone, that if you talk to any business that is still here after 6 years of the worst economic times in the world’s history, then they are probably doing something right.  

On that same token, many people were forced to walk away from their little pieces of paradise, which only meant new opportunities for those with vision who were willing to step up and take it to the next level.  We have seen many new faces in the area, in the last few years, buying or starting businesses, and turning them into a profitable dream.