Purchasing a home in a foreign country requires a considerable amount of Due Diligence to understand the financial implications for ownership and to ensure that buyers are fully protected for their investment.
Purchasing a lot to build a custom home requires significantly more effort for designing the house, finding a reputable construction company, hiring a Project Manager to manage the project and working to complete the effort in a timely fashion.
The Monte Mar development team can help to guide buyers through both of these endeavors. The following questions and answers are very high-level and meant to provide general guidance.
More detailed information can be provided for potential buyers and anyone with additional questions.
Home Ownership Overview
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You do not need to be a citizen or a resident to own property in Costa Rica. You can own land with a fee simple title. We are attaching a detailed guide to home ownership that will answer many of your questions.
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The community will use HOA fees to pay for those expenses that represent the common interests of the property owners. This includes maintenance of roads and landscaping, maintenance of trails and common areas, Community Center maintenance, fire prevention measures around the perimeter of the property, garbage removal, support for community administration buildings, and other common expenses. The Developers will manage the operating expenses during the initial phases of the project, and then turn over management of the HOA operating budget to the Homeowners’ Association.
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Monte Mar will have homeowner association rules for the protection of the property owners. These rules are available for review prior to purchase. We are designing the rules to provide flexibility to the owners while protecting all owners from nuisances such as excessive noise, commercial and agricultural activities, and blocking site lines to views.