Hard Rock Cafe - Playas del Coco

The Hard Rock in Coco is now open.  Click here to see the REMAX crew get together this past week.  A great addition to our sleepy little fishing village - Hard Rock Coco  Look for me I am the old white guy who can't dance:-)

Cost of Living Comparison - USA vs Costa Rica 2015 - Interesting!

United States and Costa Rica Cost of Living Comparison!

Posted by crie on Aug 26, 2015 in Cost of Living, immigration, News, Real Estate Investment | 0 comments

The cost of living  is one of the main considerations when contemplating moving to Costa Rica. 
Did you know, Costa Rica’s cost of living is substantially lower than that of the United States? 

Please don’t shoot the messenger!!! If you think the price is wrong you can edit it yourself below.

The information below is from the good folks at numbeo.comNumbeo is the world’s largest database about food prices worldwide!

Do you live in Costa Rica? We need your help: Add data for Costa Rica 

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Indices Difference

Consumer Prices Including Rent in United States are 42.35% higher than in Costa Rica
Rent Prices in United States are 107.57% higher than in Costa Rica
Restaurant Prices in United States are 46.90% higher than in Costa Rica
Groceries Prices in United States are 27.42% higher than in Costa Rica
Local Purchasing Power in United States is 108.12% higher than in Costa Rica

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Costa Rica Cost of Living

	Costa Rica	United States	Difference
Restaurants	[Edit]	[Edit]
Meal, Inexpensive Restaurant	6.58 $ (3,500.00 ₡)	11.00 $ (5,855.30 ₡)	+67.29 %
Meal for 2, Mid-range Restaurant, Three-course	33.82 $ (18,000.00 ₡)	50.00 $ (26,614.99 ₡)	+47.86 %
McMeal at McDonalds (or Equivalent Combo Meal)	6.76 $ (3,600.00 ₡)	6.75 $ (3,593.02 ₡)	-0.19 %
Domestic Beer (0.5 liter draught)	2.25 $ (1,200.00 ₡)	3.50 $ (1,863.05 ₡)	+55.25 %
Imported Beer (0.33 liter bottle)	3.57 $ (1,900.00 ₡)	5.00 $ (2,661.50 ₡)	+40.08 %
Cappuccino (regular)	2.37 $ (1,259.30 ₡)	3.74 $ (1,988.81 ₡)	+57.93 %
Coke/Pepsi (0.33 liter bottle)	1.52 $ (807.97 ₡)	1.65 $ (877.49 ₡)	+8.60 %
Water (0.33 liter bottle)	1.32 $ (703.97 ₡)	1.34 $ (711.94 ₡)	+1.13 %
Markets	[Edit]	[Edit]
Milk (regular), (1 gallon)	5.23 $ (2,783.24 ₡)	3.76 $ (1,998.83 ₡)	-28.18 %
Loaf of Fresh White Bread (1 lb)	1.61 $ (857.05 ₡)	2.26 $ (1,204.05 ₡)	+40.49 %
Rice (white), (1 lb)	0.94 $ (499.39 ₡)	1.50 $ (796.71 ₡)	+59.54 %
Eggs (12)	2.74 $ (1,456.06 ₡)	2.48 $ (1,319.69 ₡)	-9.37 %
Local Cheese (1 lb)	2.82 $ (1,499.63 ₡)	4.48 $ (2,384.76 ₡)	+59.02 %
Chicken Breasts (Boneless, Skinless), (1 lb)	3.17 $ (1,688.74 ₡)	3.83 $ (2,038.80 ₡)	+20.73 %
Apples (1 lb)	1.82 $ (969.84 ₡)	1.84 $ (981.79 ₡)	+1.23 %
Oranges (1 lb)	1.11 $ (591.50 ₡)	1.82 $ (966.95 ₡)	+63.47 %
Tomato (1 lb)	0.94 $ (498.65 ₡)	1.79 $ (952.40 ₡)	+91.00 %
Potato (1 lb)	0.81 $ (433.16 ₡)	1.18 $ (630.34 ₡)	+45.52 %
Lettuce (1 head)	0.84 $ (446.05 ₡)	1.58 $ (839.70 ₡)	+88.25 %
Water (1.5 liter bottle)	2.42 $ (1,288.10 ₡)	1.76 $ (936.56 ₡)	-27.29 %
Bottle of Wine (Mid-Range)	11.27 $ (6,000.00 ₡)	12.00 $ (6,387.60 ₡)	+6.46 %
Domestic Beer (0.5 liter bottle)	1.93 $ (1,027.59 ₡)	1.76 $ (936.92 ₡)	-8.82 %
Imported Beer (0.33 liter bottle)	2.74 $ (1,461.14 ₡)	2.37 $ (1,259.76 ₡)	-13.78 %
Pack of Cigarettes (Marlboro)	3.19 $ (1,700.00 ₡)	6.15 $ (3,273.64 ₡)	+92.57 %
Transportation	[Edit]	[Edit]
One-way Ticket (Local Transport)	0.75 $ (400.00 ₡)	2.00 $ (1,064.60 ₡)	+166.15 %
Monthly Pass (Regular Price)	56.36 $ (30,000.00 ₡)	64.00 $ (34,067.19 ₡)	+13.56 %
Taxi Start (Normal Tariff)	1.20 $ (640.00 ₡)	3.00 $ (1,596.90 ₡)	+149.52 %
Taxi 1 mile (Normal Tariff)	1.93 $ (1,029.98 ₡)	2.50 $ (1,330.75 ₡)	+29.20 %
Taxi 1hour Waiting (Normal Tariff)	13.15 $ (7,000.00 ₡)	30.00 $ (15,969.00 ₡)	+128.13 %
Gasoline (1 gallon)	4.89 $ (2,602.26 ₡)	2.86 $ (1,523.28 ₡)	-41.46 %
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	24,891.98 $ (13,250,000.00 ₡)	21,000.00 $ (11,178,297.90 ₡)	-15.64 %
Utilities (Monthly)	[Edit]	[Edit]
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment	74.63 $ (39,726.36 ₡)	157.23 $ (83,694.50 ₡)	+110.68 %
1 min. of Prepaid Mobile Tariff Local ( No Discounts or Plans)	0.06 $ (34.27 ₡)	0.16 $ (83.55 ₡)	+143.80 %
Internet (10 Mbps, Unlimited Data, Cable/ADSL)	52.21 $ (27,790.09 ₡)	47.97 $ (25,536.24 ₡)	-8.11 %
Sports And Leisure	[Edit]	[Edit]
Fitness Club, Monthly Fee for 1 Adult	42.57 $ (22,658.24 ₡)	37.22 $ (19,809.67 ₡)	-12.57 %
Tennis Court Rent (1 Hour on Weekend)	17.11 $ (9,108.64 ₡)	18.20 $ (9,685.61 ₡)	+6.33 %
Cinema, International Release, 1 Seat	6.58 $ (3,500.00 ₡)	10.00 $ (5,323.00 ₡)	+52.09 %
Clothing And Shoes	[Edit]	[Edit]
1 Pair of Jeans (Levis 501 Or Similar)	68.16 $ (36,281.80 ₡)	41.14 $ (21,896.94 ₡)	-39.65 %
1 Summer Dress in a Chain Store	51.24 $ (27,273.14 ₡)	35.78 $ (19,045.92 ₡)	-30.17 %
1 Pair of Nike Running Shoes (Mid-Range)	103.15 $ (54,905.09 ₡)	76.97 $ (40,972.49 ₡)	-25.38 %
1 Pair of Men Leather Business Shoes	94.74 $ (50,430.40 ₡)	87.05 $ (46,334.16 ₡)	-8.12 %
Rent Per Month	[Edit]	[Edit]
Apartment (1 bedroom) in City Centre	428.51 $ (228,093.24 ₡)	1,006.62 $ (535,826.19 ₡)	+134.92 %
Apartment (1 bedroom) Outside of Centre	361.47 $ (192,409.67 ₡)	786.88 $ (418,857.12 ₡)	+117.69 %
Apartment (3 bedrooms) in City Centre	879.62 $ (468,224.08 ₡)	1,727.44 $ (919,515.19 ₡)	+96.38 %
Apartment (3 bedrooms) Outside of Centre	669.14 $ (356,182.24 ₡)	1,333.84 $ (710,004.95 ₡)	+99.34 %
Buy Apartment Price	[Edit]	[Edit]
Price per Square Feet to Buy Apartment in City Centre	129.07 $ (68,706.08 ₡)	204.19 $ (108,692.80 ₡)	+58.20 %
Price per Square Feet to Buy Apart. Outside of Centre	118.58 $ (63,117.85 ₡)	132.28 $ (70,413.71 ₡)	+11.56 %
Salaries And Financing	[Edit]	[Edit]
Average Monthly Disposable Salary (After Tax)	903.18 $ (480,762.31 ₡)	2,675.72 $ (1,424,286.23 ₡)	+196.26 %
Mortgage Interest Rate in Percentages (%), Yearly	13.25	4.19	-68.41 %
Last update	August, 2015	August, 2015
Contributors:	199	11052
Data from past:	18 months	18 months

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An Interesting Take for Canadians Looking to Buy a Vacation Home in Paradise!

Changing lifestyles affect the decisions Canadians make on how and where they choose to live. Second homes are very popular for winter and vacation getaways. Good news; it is possible to finance a second property with owner-occupied (best) interest rates and rules.

A Primer on Getting a Mortgage for a Foreign Property

Understand that Canadian lenders will only provide you a mortgage if they can register their mortgage against a Canadian land title or deed in a Canadian (not foreign) land title system, using Canadian lawyers in order to enforce the contract in a Canadian court, if ever required. 

This rule holds true for lenders in other countries as well - they will only lend on properties within their legal jurisdiction.

So a Canadian lender mortgage on a foreign property is a non-starter.

Here are some options:

Option 1 - there are a number of Canadian banks operating in foreign countries, and a borrower typically must deal directly with the foreign bank office, not a Canadian branch.

For the USA, where language and rules are quite similar to Canada, this can be fairly straightforward.

In other countries, getting a mortgage locally can be time consuming, exhausting, and expensive

Ask us for a referral if you would like to try this option.

Option 2 - for many, refinancing your principle Canadian residence and using the equity to purchase your foreign home is by far the simplest finance solution.

Up to 80% of the value of your home can be refinanced, for example: if you have a home worth $500,000 and only hold a mortgage of $250,000 you can refinance to $400,000, payoff the $250,000 mortgage and use the other $150,000 to buy a vacation home.

The interest rate will be lower because you remortgaged your permanent residence and have no mortgage owing on the vacation home.

Makes it simpler and faster to buy in the foreign location.

There are no restrictions on the use of the vacation home, such as if used for a rental

A Visit to the Veterinary Store

Always an adventure!  Every week we visit our favorite Veterinary Store in Liberia on our way home to the mountain farm.  These are not  the veterinary clinics you would think of in Canada or the US rather they are like the old general stores of the past.  Yes, there is usually a veterinarian on staff to look after small animals and recommend treatments for large animals.  But the store itself is a conglomerate of animal feed supplies, horse tack, boots, hats, hardware supplies, baby chickens, animal medicines and just about anything to do with gardening.  Quite a mix.  Always lots of fun, crowded with customers and busy as a bee hive!   Don Victor (in the middle picture above) is the owner of this operation and always a pleasure to work with.  A typical nice Tico eager to please and help out.   All merchandise is behind the counter so you need to walk up to the till and list out what you want.  The clerks then yell out to the staff your order.  You go the caja and pay the bill then on to the next counter where your order is filled.   A little confusing but always amusing:-)  When in Liberia take in some of the local atmosphere and head for the Super Veterinary store just south of the main town square and church.  See you there on Fridays!!!  

Fortuna Cabalgata

Great time this weekend at the town of Fortuna about 15 kilometers or 10 miles from our farm.  The little town was bursting with beautiful dancing horses and a ton of just strong patient Costa Rican creole horses like our Chalana and Prieto.  Beautiful ride through the hills with some great views of Miravalles Volcano.  Lots of good food and cold cerveza made a for a great day.  Back to the house by 9 PM after a few sarpes (Costa Rican for last round - one of the big lies everybody laughs about here in CR).  If you ever have an opportunity you should take in one of these  fun events.