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Why So Many People Are Retiring In Costa Rica?
The fact is that the general population doesn’t make much money here; the average worker makes about $400 a month. Not much by our standards but it filters down to this: everything has to be affordable for everyone who lives here.
I live in the North American community of Escazú about 15 minutes from San Jose.
My electric bill is $20 a month, cell phone $8 a month, taxes $350 a year, etc.
What all of this boils down to is this:
Baby Boomers can sell their home in the U.S. even in a declining market and still have enough to buy a very nice home here, put money in the bank, and live very well just on their social security check. In fact, more social security checks come here than anywhere else in the world except for the U.S. of course.
You can hire a live in maid for about $400 a month, a couple for about $600 a month, they are happy to have the work and most North Americans treat them like family. This is one of the reasons North Americans are so well like here. Now that the free trade agreement has been approved even more North American business will move here creating new opportunities for Ticos (the local people) and improve services.
Yes it is a beautiful country with friendly people who still like North Americans but Costa Rica is also one of the best places in the world to retire.
Medical care is also a concern to Baby Boomers. Costa Rica is known for its cosmetic surgery and excellent medical facilities. Recently I had a hernia operation; I went in on a Saturday, and was released Sunday afternoon. About three days at home and then back to work. Not only did I like the Doctors but the entire staff was excellent. They were kind, friendly and catered to me like I was family. The room was very large, it has a bed, a couch for visitors, a flat screen TV with cable, and the entire bill was only $2,800 as I was not on the National Insurance program yet as I have been incredibly healthy. In the states that wouldn’t even get me in the door.
Climate is one of the most attractive things about Costa Rica is that you can pick your climate. Our elevation goes from the beach to 3,820 meters (12,529 feet) above sea level, we have everything but snow. What this means is you can choose the climate that suits you best. For example: if you live in the central valley the average temperature is about 72 degrees with little need for air-conditioning or heat and very low utility bills. Obviously if you live at the beach they would be higher running A/C on a daily basis but still much less than other countries. The nicest thing is that even if you choose to live in a cooler climate it is only about a two hour drive to the beach.
Please feel free to go on and read the demographics and all of the facts about C.R. on our website, but as far as I am concerned what we have just covered are the best reasons to choose Costa Rica for your retirement home or just a great place to live or invest.
Tom Roucek Broker
Costa Rican Realty Group