Main reasons:

  • Houses in Yoko Village are built ground up, are beautifully designed, furnished, and weather resistant.
  • Prices are between $245K – $450K based upon size and finish.
  • Yoko Village has amenities that are exclusive to its residents including a gym with an olympic size swimming pool, large elegant co-working space with ocean views, communal restaurant, communal garden, and is located in a gated property with 24hr security service providing comfort and security for your family and investment. 
  • A community of like minded people, who maintain a healthy lifestyle and adventurous spirit.
  • The best location on the peninsula. Nestled in the hills of Santa Teresa,, minutes away from the beach, restaurants and nightlife, Yoko Village has a premium foothold in Santa Teresa. 
  • Abundant nature surrounds your every view, peace and tranquility follow your every step.
  • Construction has been planned ahead so that as the community grows it will not stress the infrastructure, while continuously blending into the environment.
  • The resale factor will only go up as the community’s roots grow deeper.
  • Due to the fact that we are building such a large scale project we have already gone through the painstaking efforts to secure top contractors, architects and landscapers that we know can do the job and provide top quality affordable finishes. 

To know what’s good, it’s important to first understand what is not good thus, the Negative. 

Negative attributes when buying existing homes in Santa Teresa and things to be aware of:

  1. Constructed houses that already exist on the market tend to fall into two categories, the first being old and outdated construction and finishes, the second being new and overpriced with a heavy premium for someone else’s work.
  2. Inexpensive houses that are currently on the market are priced so for a reason. That reason is typically they are run down and have been built a long time ago and have not had regular upkeep and maintenance. A lot of the old construction was from wood and if this is not looked after and treated well can sustain a lot of damage and cost to repair or replace.
  3. Certain homes are not really in Santa Teresa, but rather in the surrounding areas such as Santiago and San Isidro etc .
  4. Road access and egress issues. Many roads are just assumed to be public roads that later on turn out to be part of someones private land and can be disputed in a court of law creating extreme inconvenience.
  5. Water and electricity. Most lots of land sold here do not come with water and or electricity. This can lead to long delays in construction permitting. Depending on your location in the area you can be provided water. However most mountainside locations you will need to dig for your own water source, which can be cumbersome and expensive.
  6. What is the legal use of the land? There are several types of land use here in Costa Rica and depending on the type of land you own they have different land use restrictions applied to them.
  7. How much of the land is buildable?  Relating to the above statement the type of land usage permits determines the amount of buildable space you can use on your land ranging between 15-75% of the total area.
  8. Ecological rules. As we know, Costa Rica is very ecologically weary and goes long lengths to protect the lands. One can run into all sorts of permitting issues due to tree and landscaping restrictions. 
  9. Working with local developers can be tough and not as transparent as one would think.
  10. Listed houses for sale online usually differ from the real product and photos can be misleading.
  11. Watch out for communities that are sold really well, but inside the houses are made of thin doors that crack, or other cheap materials that will end up costing you more money.

 

When buying and developing your own lot and home:

  • The cost of buying  land with a beautiful ocean view ranges between $250K – $500K for the lot only.
  • There is no one stop shop for acquiring land here, so you will need to meet with many different owners and representatives in the area before you will find that ideal piece of property.
  • Top quality construction and finishes run between $1,100 – $1,500  a square meter for construction.  A typical 2 bedroom villa is 100 square meters interior and then another 300 meters exterior. 
  • Interior basic furnishing including bed frames, closets and shelves will cost a further $15K – $20K.
  • Permits for water, electricity and  building can easily pass $10K.
  • Timing:  It takes around 18 months to look for the right land, view, buy, permit, develop,  build and move in. Not to mention the trips down here to keep track of your project.
  • Local attorney + 1% purchase tax will set you back a further few thousand dollars.

 

Here are a few interesting things to learn from what local deal makers say about Santa Teresa: 

«In my experience, here you can make between 12 to 15 percent profit of investment the first year running.”

Mercedes Simonini

Property owner in Santa Teresa.

“In the midst of covid, this year has been better than any other, occupancy rate was perfect, And even though we had to lower our prices a bit, we experienced most days in full capacity in all of our Villas.“

Dani Asado

Property owner in Santa Teresa.

“When it comes to finding something nice, new or well maintained in Santa Teresa, prices usually go from $700K forth and it’s hard to get anything really beautiful for less than $900K.”

Jose Gonzalez

Property owner in Santa Teresa.

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