About the Costa Rica Oceanview Home and Lots with Income
Laguna Pacifica in Bajamar Hills: 2 bedroom / 2 bath home with pool and garage on Lot 8 in the development with nice views of the ocean about 1.5 miles in the distance over a large, valley jungle. Can hear the ocean at night.
2 Car Garage is caged (about 750') and includes storage and laundry. House is about 1,500+ square feet, entertainment/pool area about 1,000'.
Property Includes 4 Lots: 9 and 10 - terracing down from the home to common area woods,
and Lots 11 and 12 across the street, all ocean view in a hilly, breezy country community with gated entrance. After recent renovations the owner has put over $425,000 in this property, and holds mortgage on adjacent lot.
Turn-Key, lock it and leave it - turn-key management - all cared for properly. Incoming mortgage of $359/month for 15 years that covers 100% of ownership expenses.
The property is situated 10 miles off the Pacific Coast Highway between Punta Renas and Jaco on Guacalillo Road. Playa Guacalillo and Playa Bajamar are the nearest beaches only 2 miles up the road, and on the highway 10 miles away are ample restaurants, fruit and vegetable stands with amazing local produce, a store, gas station, and the nearest large town is Orotina about 25 minutes from the home. Punta Leona is a beautiful resort about 30 minutes away with white sand beaches, and the Pacific, anywhere along this coast, is warm and great for swimming, body surfing and surfing. Playa Bajamar is a tan-sand beach up our road, and Playa Guacalillo more of a black-sand beach with amazing cliffs and caves of volcanic rock to explore. You can play Frisbee and body surf on these beaches just moments from the home, and cool off in the in-ground pool.
Fishing is excellent and they catch tuna, wahoo, red snapper, many varieties of fish. High-end resorts such as Villa Caletta, and amazing cliff-side place, and Los Suenos by Marriott, are within 30-40 minutes, as is the town of Jaco. Punta Renas has an amazing marina offering many Charter Fishing options. The resorts are great to take guests and have lunch or dinner, and Villa Caletta is an amazing, special treat that offers a sunset Happy Hour daily with excellent appetizer options.
The 35-acre development currently has 10 homes. At one time, the two pools and common areas were immaculately maintained. As participation dwindled, the grass got long and things became untidy. Last year, we formed a Home Owners Association and made the place a nice development again. I took on the entryway project, beautifying the entrance with new stucco, painting the gates and installing a proper receptacle for weekly garbage pickup. They also hired the manpower necessary to cut all of the grass, paying attention to fire lanes surrounding the 35 acre property. Other routine maintenance and repairs were performed with each member taking on a project. We all pitched in $500 and got a lot done.
The 35-acre development looks over a vast jungle to the ocean, and you don’t hear anything but the sounds of birds, congos in distance each evening at sunset, and the distant crashing of the surf on the beach.
Red macaws and green parrots fly over daily, and we have about 20 different species of birds that can be seen regularly. All lots in this development are owned, and Phase 1 has improved roads, street lights, power, city water and the 12 homes. Phase 2 is undeveloped and mostly owned by one family.
There are a total of 81 lots in the Finca (Spanish word for farm), and all of the lots and homes are properly titled and deeded, as well as recorded on the National Registry of Costa Rica. The owner's attorney has transacted many lot and home transfers in this community, and turn-key manages everything for the owner. The Costa Rican government is greatly in favor of the making these Finca developments Condo developments, which consequently can greatly enhance the value of the lots and homes. A conservative estimate for this increase in value is 50% for the lots and homes.
All of the owners have their properties set up in proper Costa Rican Corporations, which are recognized by the Costa Rican government, and placing land and home in a proper Corporation helps keep taxes to bare minimum. It costs about $1,000 to set up a Corporation, the owner choosing their Corporate name, and then proper title and deed are provided for each lot, as well as recording ownership on the National Registry.
Large Infrastructure Announcements in 2014 Indicate Steady growth for the Region
In 2014 Costa Rica gave the go-ahead for two important expansion projects. The first was the expansion of the national airport in Costa Rica’s Southern Zone. Evelyn Fernandez Mora, Director of Civil Aviation in Costa Rica, said in the business weekly El Financiero, that they are currently awaiting environmental impact studies, but the Southern Zone’s International Airport is Costa Rica’s latest effort in expanding its tourism industry.
The other big announcement is the plan to replace and move Costa Rica’s main international airport to Orotina in the province of Alajuela, on the Central Pacific lowlands. The future international mega-airport could triple the capacity of the Juan Santamaria International Airport in Alajuela. The airport is scheduled to open as early as 2025.
These projects are expected to have significant investment impact for the entire Central and South pacific region over the coming decade.
In addition, they are paving our road all the way to the beach this year. This is another value enhancement, and makes travel to town faster.