When you retire in Costa Rica you will enjoy a high standard of living
If you're ready for la pura vida, “the pure life,” you might want to consider a Costa Rica retirement. This country of just over 4 million is tucked between Nicaragua to the north, Panama to the south, the Pacific Ocean to the west, and the Caribbean Sea to the east.
Costa Rica may truly have it all: a year-round tropical climate, modern cities, Caribbean beaches, Pacific coastline, rain forests, lush valleys, and mountains.
According to the U.S. Department of State, more than 20,000 U.S. expatriates live in Costa Rica, many of them as retirees. That's because Costa Rica has one of the highest standards of living in Central America. With an economy catering to tourists, you'll have no trouble finding theaters, galleries, fine dining in virtually any cuisine, excellent health care, and modern telecommunications. In addition to its natural beauty, culture, and convenience, Costa Rica attracts many expats with its lower cost of living and slower pace of life. This jewel of Central America has the added advantage of still being relatively "undiscovered" by mass tourism.
Many retirees choose to live in the Central Valley of Costa Rica, within a few hours of the capital city of San Jose and its international airport, shopping, and medical facilities. The weather is also an important factor--this area enjoys year-round spring-like temperatures averaging 72ºF. Others choose to live near the beaches…the Guanacaste province and the Pacific coast from Jaco to Quepos are the most popular.
If you plan an extended stay, consider applying for either rentista or pensioner residency status. In order to qualify, rentistas simply have to show income of $1,000 per month from sources outside Costa Rica. For pensioners, the minimum is $600 per month, making it a great option for retirees looking to move to Costa Rica. Spouses and dependent children can be included in either of these plans, and residents can even start their own businesses in the country.
A recent increase in the number of foreigners choosing Costa Rica as a retirement destination has taken the country's immigration staff by surprise. The result is that residency laws in Costa Rica can change, and people applying for rentista or pensioner status can sometimes experience delays. Getting the help of an in-country attorney will help things go smoothly.
What Does It Cost to Retire in Costa Rica?
Costa Rica is not the place for bargain-basement living. It is the most expensive country in Central America; but in Costa Rica, you will find a high standard of living that is still far below the cost of living in the U.S., Canada, or Europe. How much it will cost you, of course, depends on your lifestyle.
You won't need to give up anything if you retire to Costa Rica…except cold winters. Need modern appliances? A high-speed Internet connection? Cellular phone service? Costa Rica has all the infrastructure in place to meet all your needs. And because the cost of labor is low, you may be able to employ household help that will enable you to vastly improve your quality of life.
Again, depending on your lifestyle, you can get easily get by in Costa Rica on $1,000 to $1,500 per month. Spend more, and you will have a lifestyle that would never be possible back in the United States. Rents range from $500 to $3,000 per month for a large house with a large yard, depending on location. Rural areas are cheaper, and ocean and urban properties are more.
There are also many tax advantages to living in Costa Rica. Investors pay no capital gains taxes on real estate, business taxes are minimal, and high interest bank accounts are tax free. Property taxes are also reasonable compared with the U.S.
Learn more about retiring in Costa Rica and other countries in our daily postcard e-letter. Simply enter your email address below and we'll send you a free report -- Why Are Americans Still Flocking to Costa Rica.
Wednesday, March 31, 2010
live in costa rica for under $500.00 per month!
Just a few dollars/euro would be enough to survive in Costa Rica. And surviving in Costa Rica may be just a pleasure. The land has 12 different climatic zones and abundant wildlife, but in general, the weather is hot tropical and the natives (called Ticos) are very spirited and friendly people.
Prices in San José are low - the cost of goods and services is among the lowest of all cities throughout the world. You can easily live on $500-$600 (€350-€425) a month if you share a house or flat with a partner or a friend.
Obviously the further away from San José, the lower the cost of housing. Around 75 km (50 miles) from the town you can rent a small or medium house for $250 (€177) a month.
In the restaurants you can have an excellent meal with desert for about $4.00 - $5.00 (€2.8-€3.5). And if you buy food at local markets and from the street vendors, you pay less- a bunch of bananas will cost you $0.50 (€0.30) or less. Cigarettes are only about $1.20 (€0.90) per pack. In general, the prices in supermarkets are 30% higher than on the local markets and street stalls.
Street stall in Costa Rica. By Angela Rutherford
While in Costa Rica you can learn or develop your surfing skills as the coast has great breaks and excellent surf conditions. And if you're not too lazy, you can learn or practice your Spanish. Lessons will cost you much less than back home or in Spain.
To find out more check the blog by Tim, who has lived in the country for several years. It seems that he knows a lot about living in Costa Rica.
If you seriously think about moving to Costa Rica, you should also read ‘Living Abroad in Costa Rica’ by Erin Van Rheenen, who herself moved to live there and wrote from experience. The book explores the country’s history and culture, describes the nation and, of course, suggests a reconnaissance trip to Costa Rica before you decide to move.
Prices in San José are low - the cost of goods and services is among the lowest of all cities throughout the world. You can easily live on $500-$600 (€350-€425) a month if you share a house or flat with a partner or a friend.
Obviously the further away from San José, the lower the cost of housing. Around 75 km (50 miles) from the town you can rent a small or medium house for $250 (€177) a month.
In the restaurants you can have an excellent meal with desert for about $4.00 - $5.00 (€2.8-€3.5). And if you buy food at local markets and from the street vendors, you pay less- a bunch of bananas will cost you $0.50 (€0.30) or less. Cigarettes are only about $1.20 (€0.90) per pack. In general, the prices in supermarkets are 30% higher than on the local markets and street stalls.
Street stall in Costa Rica. By Angela Rutherford
While in Costa Rica you can learn or develop your surfing skills as the coast has great breaks and excellent surf conditions. And if you're not too lazy, you can learn or practice your Spanish. Lessons will cost you much less than back home or in Spain.
To find out more check the blog by Tim, who has lived in the country for several years. It seems that he knows a lot about living in Costa Rica.
If you seriously think about moving to Costa Rica, you should also read ‘Living Abroad in Costa Rica’ by Erin Van Rheenen, who herself moved to live there and wrote from experience. The book explores the country’s history and culture, describes the nation and, of course, suggests a reconnaissance trip to Costa Rica before you decide to move.
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