If you’ve been searching for a Costa Rican investment property, you’re making the right move. A vacation rental can not only offer you an idyllic place to spend your downtime but can also be a source of income to offset your homeownership costs and expenses. Guanacaste, Costa Rica is one of the most attractive areas for investing in vacation rentals and is a hotspot for tourists throughout the year. Here we’re going to look at how you can maximize your Costa Rican investment with a vacation rental in the upcoming years.
Why Should You Consider Investing in a Vacation Rental in Costa Rica?
There are so many reasons why individuals are looking to invest in vacation rental properties in Costa Rica. Whether you are looking to spend more time in a tropical paradise with your family or are simply trying to make an investment that will offer you a solid source of income, you’ll find a wide selection of ideal properties when looking at Guanacaste, Costa Rica real estate. Real estate prices are still growing in this region of Costa Rica, so it’s well worth investigating what you could get for your money now. If you aspire to retire in Costa Rica in the future, US residents can also consider using their IRA to purchase an investment property, which they can then take over when the time is right in the future, and they are ready to relocate to Costa Rica.
What to Look For in a Costa Rican Investment Property
When it comes to investing in Guanacaste, Costa Rica real estate, there are certain considerations that you’ll want to keep in mind if you are specifically purchasing your property to use as a vacation rental. If you’ve visited Costa Rica before, you’ll know how beneficial it is to rent a property that’s in close proximity to the beach or that enjoys views over the ocean. These properties will generally see a better return than a vacation rental without a stunning ocean view. Location is the number one factor to consider for a Costa Rican investment property, and you’ll want to find somewhere that’s within reach of many popular tourist attractions, beaches or national parks.
Ideally, a vacation rental will be close to amenities, such as stores and restaurants, and have security or a gate. Comfort and cleanliness are of top priority for vacationers who are looking to ensure they feel secure in their home away from home. Privacy is also something that most visitors are looking for when renting a vacation home in Costa Rica, and this is one of the top reasons they opt for this type of accommodation in the first place.
To maximize your income, we recommend that you look for a property with at least three bedrooms if you are aiming to attract families. En-suite bathrooms in the main bedrooms are something that’s expected as standard today, as is air conditioning throughout the property or at least in the bedrooms. A swimming pool is an extremely attractive feature for Guanacaste, Costa Rica real estate, and will give your rental income a significant boost. Finally, ensure you can equip your new property with internet and a TV or satellite signal to help attract visitors from the US and Europe. Of course, the more features you can offer to potential visitors, the greater your chances of making your new vacation rental a success!
Choosing an Accessible Property
One of the reasons we believe Guanacaste, Costa Rica real estate is so popular is due to its excellent location within the country. Our team will be able to advise you about the best property options for your needs, and they’ll be able to guide you to find an accessible property that will be attractive for visitors. Access in Costa Rica is more complicated than visitors from the US and Europe may be used to, and in the green season, some vacation rentals may become unusable. Rural properties will struggle to get bookings throughout the year, especially as these properties often can’t offer the facilities that we expect in the modern world. Make sure you take the time to discuss access to your property to ensure you make a wise investment and don’t restrict the number of bookings you can take each year.
Vacation Rental Bookings Throughout the Year
As with anywhere in the world, there are low and high seasons for rental properties. It’s worth keeping these in mind, as you may be able to enjoy visiting your property during the off-season when it’s unlikely to be rented. December to April sees the highest occupancy rates, with many properties remaining full throughout this time. May to July have reasonable occupancy, and then things drop lower for the August to November period before picking back up again in time for Christmas and New Year. Of course, this will all depend on your property, as we have many properties which experience 100% occupancy almost every month.
Most people who purchase a Costa Rican investment property find they can make an annual net return of between about 4 and 6% on their investment. A popular vacation rental can be booked for about 65% of each year, but our team at Tropical Homes of Costa Rica can work to push that number even higher. With our expertise and knowledge of the Guanacaste area, we can help not only with high booking rates and property management but also with finding the right investment property for you.
Working with a Property Management Team
Often one of the biggest concerns for individuals purchasing a Costa Rican investment property is caring for the property and managing the booking process. Using our Tropical Homes team, you won’t have to worry about anything, even if you are on the other side of the world. It can be a challenge to find honest and hardworking people who will keep your property in top condition, but you can be sure your new home will be in good hands with our team. As well as being the key holders for your property, we also oversee maintenance and cleaning between bookings.
Instead of having to worry about putting time aside to deal with your vacation rental bookings, we can even handle inquiries and concerns from your renters and will help to schedule your guests and take care of payments. You’ll have peace of mind knowing your investment is offering you a great return without you having to dedicate endless hours to look after your listings, payments, and concerns from your clients. We also offer a wide range of services for your clients, including concierge services, which will ensure they have a wonderful time in the area and will return to your property again in the future.
If you are interested in Guanacaste, Costa Rica real estate, or are looking for a vacation rental management service, don’t hesitate to contact our team today. With over 20 years of experience, we are very well practiced at assisting individuals with their vacation rental properties and can guide you to select a property that will offer you the best return on your investment. Once you’ve purchased your property, our team will look after your home when you are out of the country, allowing you to rest easy knowing your new Costa Rican investment property is safe and secure throughout the year.