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July 19th, 2006
It just occured to be that very often I answer emails from readers of The REAL Costa Rica who ask questions that might be of interest to readers of this BLOG. Many are on topics NOT covered in that web site, so starting right now I am starting a new Category “Questions” where you Blog readers can see my replies to these emails. Let me know in Comments if you like this idea!I am NOT going to edit these emails, I will just quote them without name and provide my reply below.
Question i know you are very busy,but i have one question.i am a 45 yr. old male.would i be able to live comfortably if i had $300,000.using this money to purchase a home and for daily expenses.i am a simple man who is tired of the rat race.i am not materialistic,but i do enjoy the creature comforts of modern living.i have read in your website about rents and home prices,but i guess i am looking for an opinion from someone with the knowledge you posess.i know this is a vague description of myself and my needs,but do you think this is feasible? i would aquire this money through liquidating my assets.selling my home and monies i have in the bank,investments,etc.
REPLY $300,000 is MORE than sufficient to live here. If you are intelligent and take your time, you can buy a nice home here for a fraction of that.
BUT –Why buy anything? You should be able to earn at least 10% on that 300K and you can live here very easily on the 30K per year interest.
Here is my suggestion:
RENT here and travel the country until you have seen everything. You will be MUCH happier, still have your $$$ and will be much less likely to buy something stupid, overpriced or end up in an area where you won’t want to live.
Also, 40% of those who move here RETURN HOME within one year. If you are sadly one of those, you at least return home looking pretty smart as you still have your nest egg.Filed under Costa Rica, Immigration & Residency, Life in Costa Rica, Moving to Costa Rica, Questions from Readers, Retire in Costa Rica | Comments (7)