Early Retirement and Costa Rica Real Estate

May 13, 2011 - Five years ago, Dan and Kathy would have never thought about early retirement in Costa Rica and owning a real estate in Costa Rica business to boot.

Early Retirement in Costa RicaFor Dan Miller and his wife Kathy, early retirement seemed like an impossible dream that people talked about where a friend of a friend had managed to save up enough money to opt for early retirement.

This couple had always expected to work until they were forced to retire in order to retire comfortably but all of this changed one day when they met that friend of a friend who had done the impossible and moved to Costa Rica to enjoy a well-deserved early retirement.

After a year of planning and visiting Costa Rica a few times, the decided to make the move. The first step was to sell their house as fast as possible which was nearly impossible thanks the economy. In the end, they sold their house at 72% of the estimated property value.

After selling their home in a bad sellers market, they were still able to afford a nice 3 bedroom home in Escazu because the Costa Rica real estate market is a buyer’s market. Did I also mention that they still got a nice chunk of change left even after buying a $220,000 home…

The interesting thing to note is that Dan and Kathy are living in Costa Rica as “perpetual tourists”. This means they have to leave the country ever 3 months for a few days and come back. This has not stopped them from opening a small and modest real estate agency in Costa Rica.

Thanks to the law in Costa Rica which pretty much allows anyone to start a company without being residents, Dan and Kathy opened up a real estate company in Costa Rica to make money on the side. Technically, they do not need to work for the next 20 years thanks to their savings and left over money from the sale of their home and on top of that, their pension benefits will start in less than in ten years.

The real estate company they started is more of something to keep them busy and they only work whenever they feel like it as they do not advertise and 90% of their clients are wither friends back in the U.S. who want to follow in their footsteps or referrals from those friends.

When they do sell a property which so far happens about once a year, it allows them to take so nice long vacation in Asia and Europe.

I decided to write about my friends because it is a great example of how making the decision to retire abroad can be a good and positive thing for people who are not afraid to take a chance.


Mike Meehan is an expat that has been living in Costa Rica for over 5 years and owns a Costa Rica Investment company in Costa Rica as well as a dables in real estate Costa Rica.  He prides himself in having integrated himself with the country and his people and can be contacted at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

Choose a Language


View Our Residential Properties
Beach Properties
View Our Rental properties
View Our Commercial Properties
Search our Lands and Lots
View Our Luxury Properties
View Our Bargain Properties

Search The Listings

Property Type
Area
City
Price to
Bedrooms

Our Featured Listings

TicoRealty Newsletter

Subscribe to the TicoRealty Newsletter for the latest listings, news and info.

GoDaddy Certification