My Condo Funds My Part-Time Life in Costa Rica

Joe Hajost decided to invest in a condo on the Gold Coast in Playa del Coco, Costa Rica, so he could enjoy the best of both worlds: rental income and a place to call home four to five months a year.

Joe's decision to invest in Costa Rica was based on several factors: Costa Rica's Central American culture, affordability, varied climates, easy flights to the US, and straightforward processes, like the investment residency option—which Joe took advantage of.

Born and raised in Chicago, Joe's connection to the Pura Vida lifestyle began in 2008. "I worked for a green tech company focused on exports out of Limon until 2012," he says. His interest deepened when he introduced his kids to the country in 2013, sparking his desire to spend more time there.

Now, transitioning away from the corporate world, Joe seeks a life with more exploration and relaxation, as well as a fun social life, building bonds within the local community.

Joe left Corporate America behind for a relaxing life of surfing and socializing in Playa del Coco.

"Business is what first brought me to Costa Rica. I flew into San Jose, drove over the rough mountains to Limon, and set up my service organization there," he explains. "Every chance I got; I would stay in Costa Rica for a few extra days to explore the country. I've worked all over the world and Costa Rica is the place that called me back."

Buying a condo on a tropical beach provides Joe with diversification outside the US. According to Joe, "My property provides for equity, rental income, and residency, all the best principles of a Real Estate Trend Alert deal, which I learned from [reading Ronan McMahon's articles in] International Living."

Joe previously bought a condo through one of Ronan's RETA deals in Punta Laguna, just outside Playa del Carmen on Mexico's Riviera Maya.

He also mentions the ease of renting out his condo, which he rents out 20 to 26 weeks each year.

The apartment is centrally located about 30 minutes from the International Airport in Liberia and close to many beaches and shopping, including PriceSmart, Pequeño Mundo, and Walmart. Being in the popular (if pricey) Guanacaste region increases its rental value.

"I did my diligence by traveling around the country, visiting Tamarindo, Dominical, Jaco, and Arenal. I knew I wanted to be on the beach," he says. "And the vibe of Coco just felt right; It's the perfect blend of locals and expats and relaxed living."

Playa del Coco offers stunning natural beaches and swanky beach clubs.|©Bekah Bottone

The condo pays for 100% of its HOAs, upkeep, utilities, property management, and improvements. Its equity has increased 75% in just over three years—Joe is grateful to have been in the right place at the right time.

Joe earns $2,000 a month from his rental income. And his investment strategy doesn't end there. It continues into other areas, like Playa Carmen in Punta Laguna, Mexico, where he also seeks equity growth and rental income.

But for Joe, Costa Rica is more than just a place to invest. He also lives in Playa del Coco part-time, using his property investment to help fund his life there.

Joe's days revolve around a variety of activities, including morning beach walks, staying informed with IL updates at a local soda (a typical restaurant), chatting with the locals, going to the gym, playing pickleball, meeting visitors who golf, supporting local causes, and learning Spanish.

"My cost of living easily fits into the $2,000 to $2,500 per month range," Joe says. "Remember, everyone defines what a quality life is differently."

Here's a breakdown of his monthly expenses:

• HOAs: $650. (It's high due to living in a high-end gated complex; the average cost is $200-$300)

• Electricity: $100-$200.

• Property tax/legal fees: $100.

• Property management: $160.

• Healthcare: $104 Caja payment. (Joe appreciates Costa Rica having a solid socialized medical system.)

• $300 Medicare plan A/B and an Advantage plan. (Joe shares, "I'm fortunate to have zero medical issues or problems nor meds.")

• Entertainment: $20.

• Food: $600. (Joe only eats out.)

• Car/Gas: $400.

Everyone has their criteria for choosing a place to live. Reflect on your lifestyle goals and be honest with yourself about what you want. Then, go out and explore to find your piece of heaven, just like Joe did.