Costa Rica’s Last Boom Towns Could Make You Rich
Costa Rica is a beautiful country, with long stretches of deserted and undeveloped beaches…dense jungles teeming with exotic wildlife…towering volcanoes, lush green valleys, and hundreds of crystal-clear lakes and rivers…
Not only that, but the country offers a great climate year-round, neighborly atmosphere, no-hassle residence programs, excellent healthcare, a stable democracy, and safety and security. It doesn’t hurt that many retired couples report living well on $2,000 a month—that includes all their costs.
For these reasons, as well as the welcoming locals who are warm and friendly to new foreign neighbors, Costa Rica has been an expat haven for more than 30 years.
That’s another bonus: you don’t have to be a pioneer in Costa Rica. There are well-established expat communities throughout the country. Things are “set up” so to speak, when it comes to shipping your household goods, using the healthcare system, buying property, and more. And by following this well-trodden path, your transition to your new life is much easier.
It’s small, about the size of West Virginia. But the variety of landscapes, climates, and lifestyles in Costa Rica is amazing. You have the rainforests, wild beaches, and charming seaside villages of the southern Pacific coast, also known as the Southern Zone.
A Landscape and Lifestyle for Every Taste
There are the bustling market towns surrounded by sugar cane fields and coffee plantations of the Central Valley. Around the pristine 33-square-mile Lake Arenal, expats have taken up residence on the verdant hills rising from the shore, with vast lake views from their homes. On the Caribbean coast, life is laidback and moves to the rhythm of reggae. And that’s just a small taste of all Costa Rica has to offer as far as places to live.
With all these different climates and landscapes, it’s no wonder that this Central American jewel is also one of the most biodiverse spots on the planet. With just 0.03% of the earth’s surface within its borders, the country has an estimated 5% of the world’s species. In Costa Rica, this natural world surrounds you, putting the country on the forefront of eco-tourism and eco-living. Sloths, capuchin monkeys, toucans, and scarlet macaws will be your new neighbors.
And no matter which location you choose, you can benefit from bargain real estate, whether you buy or rent. Three-bedroom homes in the Central Valley start at $109,000 to buy and $300 a month to rent. And two-bedroom condos a five-minute walk to the beach on the central Pacific coast in a booming resort town are $500 a month, the same units selling for under $70,000. Deals like this can be found throughout the country.
Another big bonus is the high-quality, low-cost healthcare. There are two systems: private, for which you can pay cash or use insurance, and the government-run public system which you join when become a legal resident. Overall, expats in Costa Rica pay a fraction of what they did back home for medical care.
All these advantages make Costa Rica a premier destination for those looking for a secure, fun, and active retirement surrounded by new friends in a beautiful setting.
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- Population: 4,695,942
- Capital City: San Jose
- Climate: Tropical and subtropical; dry season (December to April); rainy season (May to November); cooler in highlands
- Time Zone: GMT-6
- Language: Spanish (official), English
- Country Code: 506
- Coastline: 1,290km
After working in the U.S. for more than two decades, I love the freedom I now enjoy from making an income in one of the most beautiful parts of Costa Rica. I wake each morning, excited to see what the day will bring. That first cup of coffee on the patio—watching whatever may be in the jungle—is awesome. Monkeys and their antics…perhaps an exotic bird I’ve never seen before…a new bloom on an exotic plant…all these things give me great pleasure.
I’ve never seen so much green…and in so many shades and variations. The tall, jungle-covered mountains of Costa Rica’s Southern Zone dominate the landscape. And many locals and long-time expats say they enjoy these mountain views even more than the ocean, thanks to the lush vegetation that covers them. This region, on the southern Pacific coast, is a land of empty beaches, wild Pacific waters, those tall mountains dropping to brief lowlands before turning to a strip of sand, and then blue ocean.
Costa Rica is a great place for retirees for many reasons. Think warm weather year-round, bargain real estate (foreigners have the same property rights as locals), friendly people, the Pura Vida (life is good) vibe, and low-cost but high-quality health care. Plus, it’s easy to qualify for residence as a retiree with the pensionado program. All you need is $1,000 per month per couple from Social Security, disability, or a pension.
I’ve never seen so much green…and in so many shades and variations. The tall, jungle-covered mountains of Costa Rica’s Southern Zone dominate the landscape. And many locals and long-time expats say they enjoy these mountain views even more than the ocean, thanks to the lush vegetation that covers them. This region, on the southern Pacific coast, is a land of extremes. Empty beaches, wild Pacific waters, those tall mountains dropping to brief lowlands before turning to a strip of sand, and then blue ocean.
I discovered the potential of ecommerce 14 years ago when I started my online maternity store…from my kitchen table. At the time, I was searching for a business that offered me the freedom to work from anywhere and the flexibility I needed to care for my young children after my husband was diagnosed with cancer. I found it in ecommerce. In its first month, my first site brought in $7,000. I was ecstatic. And it grew from there. I turned my online business into a multi-million-dollar business in a short amount of time.
“My dream was always to live on the beach with palm trees,” says Peter Ottinger. “And here on Costa Rica’s Nicoya Peninsula the climate is an endless summer.” A far cry from snowy winters back home. “When I first moved here, to Santa Teresa, it was a very small community. In the beginning there were hardly any foreigners. But since 2004, it’s grown a lot,” says Peter. “Now we have a very international community.” It’s a booming haven of backpackers and even mainstream travelers in search of a laid-back and bohemian off-the-beaten path beach destination.
The classic vision of Costa Rica that you find on postcards and tourism board posters is of the Pacific and Caribbean coasts. The white sand beaches…blue ocean…and the wildlife-filled rain forest as a backdrop.
Our balcony in Costa Rica looks out at the tops of the trees, giving us a perfect view of the forest. Toucans, tanagers, and tropical birds I’ve never seen before gather there every morning. Three-toed sloths graze in nearby branches, while the Pacific Ocean laps in the distance. As my husband and I sip coffee and watch the show each morning, I can’t help but be thankful for my good fortune.
In many ways, the Central American country of Costa Rica is a pioneer of the concept of eco-tourism and adventure sports. The idea is that instead of lounging on the beach or going on a sightseeing bus tour, participants venture out into the wild and natural areas for a variety of activities, like bird watching and trekking…or they get an adrenaline rush from engaging in safe but thrilling activities like zip-lining. Whatever your activity, you get to see wildlife up close and enjoy being out in a beautiful natural setting. And there are plenty of things for people of all ages, including U.S. retirees in Costa Rica, can do safely—and it’s a lot of fun, too.
Conventional wisdom says that you have to get the travel bug out of your system early; that once you have children you have to abandon your overseas dreams—or at least shelve them until the kids grow up and leave the nest. But it’s just not true…and an increasing number of American families are proving it. Folks from all over the U.S. are bucking tradition and traveling the world with their kids—for a summer, a year, and longer.
Last year I traveled to nine countries. I stayed in Costa Rica for six months and Mediterranean Malta for three months. This year, I am once again dividing my time between Costa Rica and the Mediterranean…as well as visiting seven other countries. Right now, I’m in London, taking a break from the tropics and the glorious island life. My days are filled with visiting attractions like Buckingham Palace, Big Ben, and the London Eye…while stopping off at quaint English pubs for lunch and perhaps a beer or two. By night, I’m enjoying the buzz around Piccadilly Circus.
In the 2014 Fast-Track Your Retirement Overseas Package we’ll introduce you to more than a dozen beautiful places in the world where you can live a caviar lifestyle on a hot dog budget.
Perhaps you long for your own cottage on a quiet beach… a grand apartment in a city vibrant with concerts and cafes… a mountain villa where the air is crisp… or even your own vineyard amid gently rolling hills…
It wasn’t the practical reasons, like lower cost of living, great—and cheap—medical care, and friendly people, that convinced Dave Scott to move to San Ramón, a town on the western edge of Costa Rica’s Central Valley region. Though the country has all those advantages and more, and while those were factors in the decision, it was something else that drew him. “It was like an invisible string around my neck pulling me here,” says Dave. “It’s more of a heart thing than a head thing. It’s hard to explain. It was just the feeling I had.”
Check any list of the world’s best retirement destinations, including International Living’s Annual Global Retirement Index, and you’ll find Costa Rica near the top. And it’s not a new trend; this little Central American country sandwiched between Nicaragua and Panama has attracted North American expats for more than 30 years due to many diverse factors. Here are four reasons why many retirees think it’s a great place to live. One of the biggest attractions of Costa Rica is the weather. For those seeking relief from frigid winters, the warm temperatures year-round are quite welcome.
To some folks, home is a place on a map or a house filled with memories and possessions. But for Ellen and Hank Barone, “home, it turns out, is something internal and portable. We’ve traveled to all 50 states and six continents and are curious and comfortable in the world,” says Ellen. “So in 2011, when we began looking for a new place to live—it wasn’t restricted to the U.S.”
Vikki Gold from Colorado is delighted with her move to Costa Rica. “I love it here. I’m at peace. There’s beautiful scenery, a great climate, and so much wildlife. It’s our little paradise,” she says. She came here just over a year ago after she and her daughter, Hollee, bought and renovated a boutique hotel in the jungle.
Jutting out into the Pacific on the country’s northwest corner, the Nicoya Peninsula is set apart geographically from mainland Costa Rica. It’s more than an hour’s drive to the nearest sizable city, Nicoya. And from the capital, San José, and the main international airport there, it will take the better part of a day and include a mix of rough dirt roads and pavement winding through forest, farmland, and mountains. One route, to the southern tip of the peninsula, even includes a ferry crossing.
Vikki Gold is delighted with her move to Costa Rica. “I love it here. I’m at peace. There’s beautiful scenery, a great climate, and so much wildlife. It’s our little paradise,” she says. She came here just over a year ago after she and her daughter, Hollee, bought and renovated a boutique hotel in the jungle, which they renamed Villas de Oros (Villas of Golds in Spanish—a play on their last name).
Sarah Booth was only 23 when she bought her first vacation rental. It was a tiny studio in a ski resort village in Canada, but it was the beginning of a portfolio that now includes properties in Panama, Colombia, and Mexico…and an income that allows Sarah to enjoy a wonderful lifestyle from her home in Coronado, Panama. “Ultimately, my rentals have funded my lifestyle and my travels,” says Sarah. “I live for free and enjoy awesome rental yields.”
After researching Costa Rica in the pages of International Living and seeing the country featured in real estate TV shows, Victoria, 67, and Larry Torley, 65, were ready to check it out for themselves.
And it didn’t take long for them to find a new home. “On that trip we checked out Jaco,” says Victoria, referring to a popular Central Pacific coast resort town. “But the beach areas are too hot and humid. So we drove up here to Arenal on a Saturday morning. By 5 p.m. we had made an offer on a house.”
“Won’t you miss your family and friends if you move overseas?” That’s a question we at IL get asked a lot, and the answer is… “Of course you will.” It’s something my husband Dan and I have experience of. We didn’t think about it too much when we moved to Ecuador back in 2001. With the exception of Dan’s mother, none of our family—my parents and our siblings—lived in the same city as we did.
Optimism and purpose, a low stress level, a natural diet and an active lifestyle…experts say those factors are three times as important as your genetic makeup when it comes to enjoying a long and healthy life. Luckily, it’s easy to embrace those elements when you’re living in a place where they come naturally. And they do in our top picks for the world’s healthiest places to live.
The expats who’ve decided to make their home in Costa Rica have the right idea. This is a really great country. The beaches are fabulous…the jungle is amazing…and you can eat the healthiest, freshest food imaginable. Plus it’s full of opportunity for creating an income. Internet services are good…tourism is booming…and there’s a need for all manner of services.
As Corey Coates finishes his morning stroll along Jaco beach he can’t help but feel grateful to have such balance and peace in his life. Every day he wakes up with the sun, meditates, enjoys Costa Rica’s superb fruits and coffee for breakfast, then visits the ocean from his beachfront luxury condo. “The satisfaction I feel each day doing what I love is immeasurable. Some days are harder than others, but at the end of the day I’ve done exactly what I want when I want.”
Silence…the morning air is fresh and pure. Sitting in a rocking chair on the porch, doing some morning reading, I hear a rustling in the mango trees nearby. Then there’s a thud, a mango hitting the ground. But it didn’t fall coincidentally. It was intentionally dropped. Suddenly the silence is broken by the culprit—the deep bellow of a howler monkey. It is mango season in Costa Rica, and the capuchins and howlers have set up camp in the mango grove on the property where we’re currently living on the Nicoya Peninsula.
Located about three hours northwest of San José, Costa Rica’s capital, the Arenal region has been drawing eco-minded travelers in search of opportunities in wildlife watching, jungle hiking, water sports, and other activities for decades. But in recent years it’s become much more than a tourist destination, attracting an increasing number of expats interested in making permanent homes here. The area is dominated by the 33-square-mile Lake Arenal. Also, looming above the landscape at the east end of the lake, is the 5,479-foot Volcan Arenal, a cone-shaped volcano that is active but not dangerous
I still remember the first time I went to the feria, or farmers’ market, in Grecia, the Central Valley town I call home here in Costa Rica. It was a bit embarrassing. I was buying some carrots and potatoes and had dutifully handed over my filled-to-the-brim bags to be weighed. The vendor read out the total, and I handed over a 10,000 colones note (about $20). Still adjusting to the exchange rate, it took me a second to realize I owed him only about $1.50—and I was taking all his change for the day! I quickly counted out some coins and handed those over to the grateful vendor instead.
Skip ahead a year and a half, and we find ourselves still gazing with eyes wide open at the land where we began. Costa Rica completely captured this whimsical family, much to our surprise, with its total package. As nature lovers, we experience an ever-present awe for our intense surroundings—the tropical birds, countless waterfalls, incredible beaches, and stunning mountain views…so much diversity in such a small country.
In many ways, the Nicoya Peninsula is off the radar of most tourists and expats who make their way to Costa Rica. A large landmass jutting out into the Pacific, it’s harder to get to and travel around than most areas of the country, due to lack of quality roads. Some spots are best reached by ferry from the mainland.
For many visitors and even many expats who’ve lived in Costa Rica for years, the country’s capital, San José, remains a very utilitarian destination, so to speak. As the commercial center, it’s the place go for the best shopping in the country. If you can get it in Costa Rica, it’s in San José. And as the governmental center, when you’re going through the residence process…you end up in San José.
Costa Rica has a lot going for it as a place to live and retire: Natural beauty, exotic wildlife, warm weather year-round, beautiful beaches, warm and welcoming people…the list goes on. But one of the most attractive features of life in this tropical Central American country is the lower cost of living. Retired couples average about $2,000 per month in expenses, including housing, transportation, food, and medical costs.
Another perfect day in Costa Rica. It’s bright and sunny and the temperature is a comfortable 72 degrees. A hummingbird flutters outside the window. Then there’s a knock at the door. It’s one of my tica friends (the name Costa Ricans use to identify themselves). She’s come to visit, walking 2.5 miles to get to my house.
It’s been 18 months since I moved to the tropical land of my dreams, Costa Rica, and I am still smitten with my new surroundings. Every time I return to the States for a short visit, I am reminded of how intensely I’ve transformed my life…and I realize I could never go back to my previous, mundane reality in Maryland.
When my wife Jen and I chose Costa Rica as the country we would retire to, like many moving to a tropical climate, we had visions of morning runs on the beach, learning to surf. We imagined ourselves fishing and snorkeling in crystal clear waters, and watching the sun sink into the ocean as we sipped cocktails with friends. In short, we envisioned beach life.
One of my favorite surprises upon moving to Costa Rica was the open-air ferias or farmer’s markets. They can be found all over the country, and offer delicious fresh fruits and vegetables at very affordable prices. For example, at my favorite market (located in the town of San Isidro de General and held every Thursday and Friday), you can buy three pineapples for $2, mangoes for less than a dollar a pound, and a head of lettuce for 50 cents.
With 763 miles of coastline on the Pacific and Caribbean, Costa Rica is blessed with its share of beautiful beaches…not to mention pristine waters. And inland lakes and rivers provide more outstanding scenery. But these waterways are more than just pretty to look at. They’re the playgrounds of watersports enthusiasts of many different disciplines. Below […]
2014 Fast Track Costa Rica Package will deliver all the real-world information you need on the places in Costa Rica where you can live better. Places where you can enjoy these benefits of “the good life” for significantly less than they’d cost you back home.
Le Marche is a land of rolling hills topped with traditional stone farmhouses, honey-colored villages seemingly untouched since the Middle Ages, and farm-to-fork cuisine served up in rustic trattorias, where a meal will cost you as little as $7.
I’ve always lived near the coast. But in Florida, where I’m from originally, a trip to the beach wasn’t always fun, thanks to crowds, noise, and looming hotel towers. But during my recent trip to Nosara, a Pacific-beach community on Costa Rica’s Nicoya Peninsula, I found the polar opposite of those overrun Stateside beaches…and a place unlike any other I’ve visited during my two years in this country.
Warm and sunny days…beautiful people lounging on the sand as surfers vie for choice waves… palm tree-lined boardwalks in picturesque beachside towns, dramatic craggy cliffs…the California coast has certainly captured the popular imagination. No wonder; it’s one of the most pleasant places in the world to live. But on the flip side, it also has some of the most expensive real estate in the world and a high cost of living.