If you’re looking for an investment to diversify your portfolio, you might want to consider the merits of owning property overseas. Foreign real estate investment in Costa Rica provides you with all the best qualities of an investment buy-beachfront, luxury homes in a great community. Here are some of the best reasons to invest right now:
Tired of the snow, sleet and cold? A second home in Costa Rica can serve as a lovely summer spot for your winter getaways. You can afford to be impervious to the cold when you’re thousands of miles away, basking in the sun and drinking Mai Tai at the beach.
Costa Rica can offer you lower costs of living. If you’re planning to retire abroad, buying a home now is a good move to secure your future later on, says U.S. News. That way, when you’re ready to move, it’ll be a whole lot easier-all because you already own a home in the country.
Earn rental income
A foreign real estate investment in Costa Rica means you can rent out that property and earn some rental income. That should come in handy for covering some of your maintenance and repair costs as well as monthly expenses like bills and association dues.
Tax deductible perks
That investment property can also give you a few tax perks. Any costs you incur when you go on trips to manage and check on your properties could be tax deductible. Talk to your agent and lawyer about it.
Add to your hard assets
Hard assets can provide you with added security. The value of the property will only go higher, as luxury properties grow in market demand. Also, owning property helps give improve your financial credit and standing, especially if you establish a good record of on-time payments.