Costa Rica Offers Baby Boomers a Second Chance at Retirement

This is Dominical Property’s first Press Release and it got a very positive response and even made Yahoo! News and many other online news outlets:  http://www.prweb.com/releases/costa_rican_real_estate/baby_boomers/prweb10102981.htm

Costa Rica is a natural choice for Baby Boomers due to its year round temperate climate, lower cost of living, advanced medical sector, and a short flight from most of the continental U.S. Joshua Kanter of United Country – Properties in Dominical discusses current retirement trends in Baby Boomer retirees.

Playa Dominical, Costa Rica (PRWEB) November 06, 2012

Costa Rica has historically been a retirement haven for ex-pats and will be one of the top destinations for Baby Boomers to retire. The Southern Zone and Playa Dominical area are fast becoming more popular with retirees due to unparalleled natural beauty, laid back healthy lifestyle, easier access, plus convenient hospitals and clinics. Dominical Property, S.R.L. is a local real estate and property management expert that specializes in making the transition to Costa Rica as smooth as possible.

Baby Boomers Facts
-76.4 million Baby Boomers born from 1946 to 1964 (U.S. Census)
-A Baby Boomer turns 60 every 8.5 seconds (U.S. Census)
-More than 10,000 Baby Boomers will retire every day for the next 19 years (Pew Research Center)

According to Mary Furlong’s book, Turning Silver into Gold the top 3 financial concerns of Baby Boomers are as follows:
1.) Having enough money to retire
2.) Overall financial well being
3.) Having enough money for health care

So what will Baby Boomers look for in a retirement destination? Basically somewhere they can make their savings last and enjoy an active lifestyle, while staying fit and healthy.

The quality of life in Costa Rica is some of the best in the World and it has been ranked #1 on the Happy Planet Index (New Economic Foundation) for two consecutive years. The medical care in Costa Rica is also some of the best in Central America; as many travel here specifically for medical tourism. Most all fruits and produce are grown locally; meat and poultry are fresh; and seafood is plentiful.

Costa Rica has many micro-climates, but more and more Baby Boomers are exploring the Southern Pacific Zone. This area is best known for Playa Dominical, which was 18th on CNN Go’s list of the “World’s 50 Best Beaches”. The Playa Domincal area offers some of the most beautiful landscapes in the country, an abundance of wildlife, miles of secluded beaches, numerous waterfalls, and tons of outdoor activities from adventurous surfing, hiking, rafting, and zip-lining to more relaxing hobbies such as; bird watching, beach combing, fishing, and whale watching.

The Dominical-Uvita area, also known as Costa Ballena, has experienced recent growth and popularity due to the new Caldera Highway and paving of the Coastal Highway from Quepos; now only a 3 hour drive from San Jose. Also the Quepos Regional Airport is 30 minutes from Dominical and services daily commuter flights from San Jose.

Costa Ballena has all the amenities a retiree wants in casual and fine dining restaurants, banks, shopping, supermarkets, mechanics, pharmacies, and clinics. There are also 3 hospitals with in 30 to 45 minute drive in Quepos, San Isidro, and a new hospital in Cortes. The city of San Isidro is 40 minutes from Dominical and is one of the fastest growing cities in Central America. Modern conveniences mixed with a laid back lifestyle and lush rain forest surroundings make this one of the most desirable areas of Costa Rica.

Joshua Kanter of Dominical Property, S.R.L. (http://www.dominicalproperty.com/) says, “Our most common clients are those nearing retirement looking for a second home to eventually live here full or part time. Or those seeking ocean view property to build their dream home. Plus the Southern Zone still has very affordable real estate prices compared to other regions of Costa Rica real estate and this allows an investor’s dollar to go a long way.” He continues, “We have also seen an increased trend in retirees renting long term prior to a purchase in order to make sure the Costa Rica lifestyle is truly for them.”

Dominical Property, S.R.L assists Baby Boomers in retirement relocation with a wide array of Dominical real estate listings for sale and rent. The company can also manage a second home, recommend real estate and residency attorneys, and help facilitate the building process. The Southern Pacific Zone of Costa Rica is becoming a World class retirement destination and allows Baby Boomers a second chance at retirement.

Contact:
Joshua Kanter, Agent
United Country – Properties in Costa Rica
Website: http://www.DominicalProperty.com
Blog: http://www.DominicalProperty.WordPress.com/
Toll Free: 1-888-679-1227

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Cost of Living in Costa Rica

The cost of living in Costa Rica is a popular topic among those considering it as a retirement location or for those moving down with their family.  Everyone wants to know how far their Dollar or Euro can stretch; which depends a lot on your life style.  If you have an affluent lifestyle where you are from, you will also have that type of lifestyle here, just for a bit less.  If you can live modestly using mostly local products, then you can save a lot.  More importantly no matter what your spending habits are, the quality of life here is so much more than anything I experienced in the U.S. with beautiful natural scenery, pristine beaches, clean rivers and waterfalls, fresh fruits and vegetables, locally caught fish, and the “Pura Vida” laid back lifestyle.  In this Blog I will attempt to portray some common expenses that the average retiree or person living in Costa Rica can expect.

Food and Entertainment

Food products and restaurants can be much less than the States or Europe and by how much really depends on how you live.  If you eat out a lot and buy American or European imported food items it can be expensive by Costa Rica standards.  However, if you buy local fruits and veggies at farmer’s markets and local food products at the supermarket it can be much cheaper.  Also there are local restaurants called “Sodas” that have a daily “Casado” for $5 to $7; which is a typical dish of rice and beans, a salad, usually another side, and a choice of fish, thin steak, chicken, or pork.  Even at high end elegant restaurants the prices are less than the same quality restaurant in a big city back home.

Entertainment is also more affordable whether going out to the movies, a bar and night club, or even attending a play (mostly in San Jose).  Although beers and drinks can be expensive, they are still less than what you are used to at a night club or bar.  Many beachside bars around here offer a drink special for happy hour and to watch the sunset.  Also there is tons of free daytime entertainment from hiking in the jungle to surfing or strolling local beaches.   Plus once you are a local you can receive discounts on the tour activities such as: zip-lining, rafting, sport fishing, and more.

Health Care

Health care, even private health care is much cheaper here.  When my wife gave birth to our last daughter it was around $3,500 for the C-section with doctor’s fees, medicine, and 1 night stay at the private clinic all included.  Dental care is much more affordable, as well as, minor and even major surgeries.  Medical Tourism is a becoming a very popular trend in Costa Rica with World-Class medical facilities like CIMA, Clinica Biblia, or Hospital Catolica in San Jose.  More and more foreigners are coming to have plastic surgery, dental implants, and all types of joint and even back surgery at a fraction of the cost.  Then the patient can recover in a lush tropical resort close by and be attended to their every need.   

Services

Services like house cleaning, gardeners, and cooks are also very affordable at $2 to $4 per hour.  You can afford to have a full time employee in order to spend less time on household chores and more time enjoying life in paradise.

Imported Items
Cars and electronics like TV’s and cell phones are all much more here because of import taxes associated with them.  Diesel and gas at $5.50 to $7 per gallon respectively, along with car maintenance will be one of (if not) your biggest expenses here.  The mechanics are reasonable and parts are comparable in price, but there is more wear and tear on vehicles here depending where you live and what kind of road access it has.   A good 4×4 SUV or truck is the way to go and most people prefer diesel engines for better fuel efficiency and price at the pump.

Taxes
Property taxes are 0.25% of the registered property value, so for example a $100,000 house or property pays $250 per year in property tax.  There is a fairly new luxury home tax for homes over $200k and that is about $2,500 to $3,000 per year.  Additionally a new annual corporation tax implemented in 2012 is equal to approximately $180 for inactive corporations and $360 for active corporations.  There is currently no capital gains tax in Costa Rica; which is beneficial when selling personal property investments.

Costa Rica and specifically the Dominical area is a great option to retire or raise a family.  The lower cost of living and much higher quality of life make this a place to truly consider for your next full time or part time residence!!

Top 10 Reasons to Retire in Costa Rica

Costa Rica is one of the most desirable places in the World to retire for its beautiful natural scenery, tranquil “Pura Vida” lifestyle, friendly locals, year round temperate climate, and many more reasons depending on the individual.  In this blog I will discuss the Top 10 Reasons that most people retire here.  The majority of retires are from the U.S., Canada, and Europe making Costa Rica a unique country of many cultures living peacefully together in paradise and truly enjoying life!!

Peace and Stability – Costa Rica is commonly known as the Switzerland of Latin America due to its neutral political stance, peaceful democracy, and dramatic mountainous landscapes.  There has been some form of democracy in Costa Rica for well over 100 years and the country abolished its military long ago in 1949.  The United States is their closest ally and many expats already live in Costa Rica.  Former President Oscar Arias was once awarded the Nobel Peace Prize in 1987.

Cost of Living Life in Costa Rica is very affordable and one of the lowest in the Americas.  For $1,200 per month a retired couple can live very well and for around $2,000 per month can live affluently.  Utilities are up to 30% cheaper in Costa Rica than the US and Europe and a full time gardener and house keeper can be obtained for a few hundred dollars per month each.  Numerous inexpensive local restaurants with fresh local fruits, vegetables, meats, and seafood ingredients make eating out enjoyable.

Lifestyle – The ‘Pura Vida’ or the ‘Pure life’ is the local expression for everything from a greeting to a state of mind.  The pace of life here is laid back and punctuality is merely a suggestion, which is the whole idea of retirement.  There is also plenty to do for those searching a healthy active lifestyle such as: surfing, hiking, white water rafting, bird watching, sport fishing, biking, zip line tours, horseback riding, walking secluded beaches, and much more.  Explore or relax as much as one desires.  According to the New Economics Forum Costa Rica is the happiest country in the World, ranking 1st on the Happy Planet Index in 2009, up from 3rd in 2006.  It also consistently ranks among the top Latin American countries on the Human Development Index.

Affordable Health Care – The cost of health care in Costa Rica is a fraction of that in the US or Europe.  Many even come here for medical tourism to enjoy the benefits of World class medicine and a top travel destination.  Public health care is readily available and private hospitals such as: CIMA Hospital, Clinica Biblia, and Hospital Catolica are filled with specialist doctors that studied abroad.

Climate – The year round warm weather is another of the desirable reasons to call Costa Rica home.  The central valley has moderate temperatures and enjoys weather in the70’s most of the year.  The coastal climates are warmer with plenty of sunshine for days at the beach.  There are only two seasons here; dry season typically November through April and rainy season typically May through October.  Even in the rainy season there are mostly sunny mornings with afternoon or evening rains.  September and October are usually the rainiest months of the year.

Natural Beauty – Costa Rica is unsurpassed as one of the most naturally beautiful countries in the World with mountains, rainforests, volcanoes, pristine beaches, rivers, and two coastlines bordered by the Caribbean Sea and the Pacific Ocean.  Costa Rica, despite accounting for only 0.25% of the World’s land mass, it is home to 5% of the World’s biodiversity.  National Geographic has called the Corcavado National Park on the Osa Peninsula in the Soutern Pacific Zone one of the most bio diverse places on the entire planet.

Sustainability – Costa Rica is very ‘green’ or eco minded with the majority of utility power coming from hydro-electric sources, protecting rain forests and wild life, and promoting eco-tourism.  The government even has plans to become the World’s first carbon neutral country by 2021.  Costa Rica ranked 3rd in the World, and 1st in the Americas on the 2010 Environmental Performance Index.  An astounding 25% of its total landmass is protected by reserves and national parks, more than any other country by percentage.

Taxes – Low tax rates are another popular reason for people to retire in Costa Rica.  There is no income tax paid on income earned outside of the country and no capital gains tax.  Property taxes here are extremely low at only 0.25% of the recorded property value.

Business Opportunity – There are numerous investment opportunities in Costa Rica with historically rising real estate values, ever increasing international trade, and a large tourism sector.  It is the number one Latin American tourist destination, which is more than a $2 billion per year industry.  Retirees can start a small business such as; bed and breakfast, hotel, restaurant, fishing charter, tour operator, spa, and more providing themselves with income and additional jobs for the local work force.  Costa Rica also has a highly educated population with over a 94% literacy rate.

Comfort Factor – Costa Rica has more Americans living here per capita than any other country outside the United States.  The locals are friendly to expatriates and there is less feeling of isolation with other retirees nearby.  Only a 3 hour flight from Florida and the US; its close location makes visiting the States easy and accessible.  Other comforts include majority English channels on SkyTV, internet access even in rural areas through satellites or 3G cell phone networks, and the same or comparable stores and services in the larger cities and towns.