Interested in Purchasing Casa Rio Mar?

The original property that became Casa Rio Mar was purchased in September of 2008. It was a small house on a small lot that was owned by an American that essentially bought it, stayed one week, locked it up and never came back. According to locals, this lot was a parcel of three adjoining lots that were purchased in 1952 for 2500 Colones (about 5 dollars in today's money). These three original lots make up the three lots just north of the river. The two sisters that inherited the middle lot always argued and split their lot in half.

During the construction of Casa Rio Mar, the sister lot was purchased as well, putting back together what has been separated so long ago.

Actual construction of the home was started January 2nd with the demolition of the old house. The best architect in the region, Mr. Roberto Maracha, was hired to design the house. He is the architect for such notable properties in Jaco as The Monte Carlo and Monaco condominium developments. If fact, it is these high construction standards that were used as the construction standards for Casa Rio Mar. No expense has been spared. The height of the two lots was raised several feet. The hundred plus year old Mango trees were all spared. In fact only two coconut trees and one cashew tree were removed during the entire construction of the house.

Although land and house prices in Costa Rica have risen substantially. peaking in 2008, many investors still consider beach front property in Costa Rica to be more affordable than other premium beach areas around the world. Cursory checks of Destin, Florida, Cabo San Lucas, Mexico, Hawaii, and any coastal portion of California will reveal Casa Rio Mar to be a real bargain. Taxes, insurance and local labor are easily 80-90% cheaper than any of these other areas. A comparison of the homes for sale in the beautiful Los Suenos development a mere five minutes from Casa Rio Mar will reveal a lower price, beachfront, and no common area fees. A stroll of Jaco beach will show that there is no other home on the entire 2.7 mile beach that has this combination of good price, quality construction and high rental activity.

In May of 2010 a toll road was finished that connected San Jose with Jaco. Even though Jaco is just 30 miles in a direct line from the airport, this drive used to take a full 2.5 hours due to the back roads that had to be used to get through the mountains. With the toll road this drive is now half that time. There is another section of toll road that will leave directly from the airport. When completed, this is expected to shorten the trip to Jaco by an additional 30 minutes. These municipal improvements makes it even easier for owners and guests to enjoy the use of Casa Rio Mar

Owning property in Costa Rica

Foreigners cannot directly own property in Costa Rica. However, foreigners can form a Costa Rican corporation that may own property in Costa Rica. With the help of one of the reputable lawyers in San Jose, it is not difficult to set up one of these corporations.

Owning Beachfront property in Costa Rica

Being able to purchase outright actual titled beachfront property is very rare in Costa Rica for several reasons. First, most beachfront properties are owned by the government, which sells 20 year land "concessions". You can build whatever you like on the property, but whatever you build you may lose when your concession runs out. In this instance your property is never truly yours and it can never be paid off. In other cases "beachfront" can mean several hundred yards between you and the ocean. This makes it difficult to enjoy the beach.

Casa Rio Mar IS titled beachfront property and at high tide the water is 20 yards from the gate of the house. You will not find another house on the beach with better ocean access.

Rental history and forecasts

Rentals technically began in 2009 but only one rental was booked in the four months that Casa Rio Mar was accepting bookings that year. Year 2010 rental income jumped to $40,000. Year 2011 rental income was fantastic, more than tripling from the year before. This year is looking like an even better rental season and the house is staying as busy as we want. We have some guests coming back for their fourth rental of Casa Rio Mar, and it is becoming a popular destination for weddings, honeymoons, family gatherings and relaxation after a long day of fishing out of Los Suenos Marina. At this point we only see rental income continuing to rise, as demand is controlled with price increases as demand merits.

Terms Of Sale

• Cash sale $1,500,000
• Everything in the house and on the property except what is in the owners closet
• Rental sites and beachhousejaco.com
• All pre-booked rental for the period after purchase
• Costa Rican corporation
• The house and property

Owner Finance

• $500,000 down
• 8% interest rate (interest rates in Costa Rica run 8-14%) 10 to 20 year amortization
• Everything in the house and on the property except what is in the owners closet
• Rental sites
• All pre-booked rental for the period after purchase the house and property

Currently in place at Casa Rio Mar is a property and bookings manager, gardener and cook, cleaning and security services. Any and all of these service providers have expressed an interest in continuing to serve in this capacity for the new owner.

DIRECT CONTACT: