5 Real Estate Pitfalls to Avoid When House Hunting in Costa Rica
Buying a home might be a financial decision – one of the most significant you will ever make – but it is also an emotional one. This is why many homebuyers get swept up in all the hype, emotion, and options and make a decision they will regret for a long time. If you are looking for homes for sale in Costa Rica, the luxurious lifestyle and breathtaking beauty of the coastal town may sway you away from good judgment. To keep you on track, here are five pitfalls you should avoid while house hunting.
Getting Caught in the Hype – Don’t Buy a Home You Cannot Afford
Having helped many homebuyers find homes, Costa Rica real estate agent Robert Davey is familiar with the excitement of house hunting. There are so many property types, neighborhoods, amenities, and price points to consider. And considering the grandeur of Costa Rica, you might even end up saddling yourself with a mortgage you cannot afford. This is why it is crucial to create a budget and stick to it. Before you begin looking at homes, set clear guidelines about what you want from a home and how much you are willing to pay for it, and don’t be persuaded to go beyond your budget.
Failing to Visit the Property
Online photos of listed properties do not always represent a property as it is in reality. Especially in Costa Rica, where proximity to the ocean is a major selling point, sellers can take aerial and drone photos to exaggerate the location of their homes. This is why one of the worst mistakes you can make as a homebuyer is to purchase a home without visiting it. Make time to tour the house, walk around, and survey everything, including the neighborhood, before you make an offer.
Missing or Overlooking Property Flaws
As you look at the property, it is also important to hire a home inspector to check the things you cannot see. You can plan to fix small issues, such as a paint color you don’t like, but bigger problems, like a leaking roof or faulty septic system, can set you back thousands of dollars. And while the perfect home does not exist, do not buy a home until you know all the repairs it will need and how much they will cost.
Discounting the Weather
Costa Rica is a tropical destination, which means residents can expect extreme weather conditions every once in a while. Ask your agent which areas and properties have a history of soil movement and drainage problems and actively avoid them. You should also consider weather conditions when looking at property types, materials, and amenities.
Dilly-Dallying on Your Offer
Once you find a home that meets all your needs, make an offer immediately. Costa Rica is a competitive real estate market, and homes only stay on the market for a short time, especially when they are good. Ask your agent to help you craft a competitive offer as soon as you find your dream home.
Get Your Dream Home with Costa Rica Resort & Estate Properties S.R.L.
Looking at Costa Rica real estate is exciting. There are so many condos, luxury estates, single-family homes, and waterfront mansions to consider. If you want to stay on track and buy a home that meets all your needs, contact Costa Rica CIRE to enlist the help of an expert. This team of brokers, agents, and other real estate professionals will walk you through the home-buying process from selection to closing. Call today to learn more.