Frequently Asked Questions
COSTA RICA LIFESTYLE
What is the time Zone? Central Standard Time; however without day light savings, they are two hours behind Eastern Standard Time.
What form of government does Costa Rica have? It is a democratic republic with a president chosen by a general election every 4 years. Costa Rica boasts a very stable government compared to other Central and South American governments.
What are the annual property taxes? .25% of declared value, i.e. $250 per $100,000 of value.
What is the currency of Costa Rica? Colones. The exchange rate as of September 2006 517.56 colones for $1.00 U.S. Most places of business except dollars or colones so you do not need to change your money.
RANCHO LAS LOMAS
What kind of roads will be used in the development? Gravel roads will be used on the property; these are most common in Costa Rica. The roads will be within a 7 meter “servidumbre agricola” which is equivalent to a 23 ft. right-of-way easement.
What kind of power source will be used? Public electricity will be brought within 100 meters of each lot.
Where will the water be supplied from? Water for the property will come from a well on the development. A water supply line will be in each street or separately run to each lot. The well and reservoir have been completed.
How many lots will be in your development? Currently 60 lots are being subdivided for Ranchos Las Lomas. In addition, about 20 smaller home sites will be available for construction of rustic cabins.
Where is the closest hospital to the development? A medical clinic and doctors offices are in Jaco and Quepos; hospitals are located in San Jose.
How far is the airport from the development? It takes about 2 hours by car from the San Jose Airport to get to Parrita; a new road is being built which will make the trip only 1 hour from the airport.
Where is the closest beach to the property? Playa Banderas and Bejuco are 10 minutes from Ranchos Las Lomas.
What kind of sewage system is in place for the development? Each lot owner will pay to have a septic system installed at the time of home construction. Past prices for a septic system were $800 - $1,000.
How much will it cost to build a house? Building costs in this area vary widely depending on size of the project, design, materials, degree of supervision and features. Other nearby developers are quoting prices from $75(Paragon), $85(Columbus Heights) to $150(Del Pacifico) psf. not including soft costs and commissions. We are now working on plans to provide quality home construction at less than this range. Builder and buyer need to move quickly to hold current pricing in the face of material price increases. Our home designs will be presented our website as soon as they are released. We will coordinate our experienced contractors to help bring these savings to our future owners.
For more information regarding legal and building matters such as permits, requirements and policies check out this website:
http://www.costaricalaw.com/legalnet/faqs.html