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Foreigners and Costa Rican citizens (Ticos) have equal rights under the law when it comes to buying real estate, and one does not have to live in Costa Rica to buy property.  There are restrictions, but generally buying or building in Costa Rica is not too difficult, and real estate is appreciating at 20% per year.  

Real estate options come in all shapes and sizes, and while prices are on the rise, it is still possible to find deals.  We found a 1,130 square foot, two bedroom, two bath home, complete with a good-sized front and back yard, a garden, tile floors and air conditioning in a gated community, and just a few yards from the beach, for $135,000.   We found another two bedroom, two bath home, slightly larger with 1,425 square feet, tile floors, a warm water system and a large garden, for $185,000.  This wonderful property is actually located in the jungle and has a large balcony that affords amazing ocean and mountain views.  For $198,000, we found a 5,300 square foot home only a few yards from the beach.  It has two bedrooms, one bath, a separate maid quarters, a pool, large garden and a terrace with mountain views.

Because Costa Rica has been "discovered," developers are making their way here, and Tambor is seeing some of that as well.   Tambor Hills is a growing, gated, residential community located a mile and a half from the beach.   This community has lots, homes and condominiums for sale.   Currently, a small (600 square feet), one bedroom condominium is selling for $113,000, and a two bedroom, 645 square foot condo is selling for $235,000.  Model homes are now open, and there are five floor plans, with prices starting at $157,000 (excluding architect fees) for 1,800 square feet.  Currently, lots being sold include an ocean view, electricity, road access and water.  Financing is available through the developer, with 20% down and the balance paid off over 5 years at an interest rate of 9.5%. 

Los Delfines Golf and Country Club is another gated community and offers golf, tennis, swimming, dining, a club house, gardens, beach and mountain views.    Here a two bath, two bedroom duplex starts at $130,000 and has a $122/month HOA fee.  Two bedroom, two bath single family homes (1,122 square feet) with gazebos, new furniture and a pool begin at $170,000.  Developer financing is also an option.  This and Tambor Hills are lovely, manicured communities, but they do seem a little out-of-place here.   

Building a home is another option.   It is the essentially the same process as in the States (buying land, researching the title, hiring an architect, getting a building permit, supervising workers).  Usually, the entire event takes 2 1/2 years on average and costs $73,000 to $108,000 for a 2,000 square foot house, excluding land costs.  Keep in mind that squatters are an issue in Costa Rica, and they can acquire limited property rights if the property owner allows them to use the property for just three months, so it is not a good idea to buy land and then go back to the States.  If you buy it, build on it quickly and if you cannot live in the house, rent it.  

Real estate is the largest expense for retirees in Tambor.    Other items, such as transportation, health care, food and utilities, are much less than in the States, making the overall cost-of-living less. For example, a loaf of bread is 50c.  A pound of chicken is $1.35.  A can of beer is 65c.  Electricity is $26 per month.  A telephone is $13 per month.  A maid is $1-$2 an hour.   In fact, it is possible for one person to live here on $300 a month, excluding real estate costs.    Renting is also an alternative to buying real estate.  Rents in the area run $350-$400 a month for a two-three bedroom home, but rents in the gated communities run higher ($800 a month and up).  Generally, rentals (not vacation rentals) are found by talking to the locals.

Spanish is the language of choice, but English is the second language, and Tambor Ticos speak both.    Anyone from a northern climate also needs to be aware of how strong the sun is and wear LOTS of sun block.  Even just an hour on Tambor Beach can bake a pale New Yorker or pasty Oregonian to a crisp.