Life Rich Real Estate Inc. (is not a real estate brokerage) It is a company whose sole focus is educating buyers, sellers and realtors on International real estate. I am proud to say that I am a co-founder of this company.

What do we do?

We hold workshops for buyers contemplating buying off shore and for REALTORS looking for help & information so that they can assist their clients who want to buy International real estate.

We work with developers and perform a due diligence review on their properties before we include them in our portfolio.  We educate them on what a buyer information they should have available for International buyers. The information in our portfolio is is available to clients, their lawyers and advisors.

Life Rich Real Estate Inc. requires that any developer that has their property in our portfolio must provide an EXCLUSIVE money saving offer for our clients – this is in addition to any other incentives they may offer to a client who is buying one of their properties.  These offers include such things as discounts, upgrades, reduced interest rates, travel reimbursement. As these are EXCLUSIVE offers for clients of  Life Rich Real Estate it is essential that you contact us BEFORE  you contact the developer if you wish to benefit!

Upcoming events

We have a number of events coming up that I’d like to draw your attention to:

May 26, 2012 – Americana Resort, Lundy’s Lane, Niagara Falls – 10 a.m. – 5 p.m.  This is advertised as 50+ trade show – any age is welcome.

June 10, 2012 – Toronto - Toronto Womens Expo Days Hotel & Conference Centre, 185 Yorkland Blvd., Toronto, ON.   Life Rich Real Estate Inc. will be an exhibitor at the event and I will be speaking on International Real Estate – where do I start?

June 12, 2012 – Oakville – 6.30 p.m. – 8.30 p.m. At this event we will review Vista Bahia, a development in Costa Rica, and we will discuss how you could use your RRSP to purchase in this development.  This event is being held at a private residence and the address will be sent to you with your confirmation of registration.  If you would like to register for this free event please  click here

November 3, 2012 – Burlington – this is a 50+trade show – 10 a.m. – 5 p.m. Again any age is welcome. The event is being held at the Burlington conference center.

If you are interested in finding out more or need assistance in buying your piece of paradise – please contact us at 1-800-209-3214 or e-mail me

The Properties of the Nicaraguan Riviera are directly on an immense and very beautiful beach.

This beautiful beach was only recently “discovered” near the fishing and farming community of Salinas Grandes about 20 kilometers south of the city of Leon on the Pacific coast of Nicaragua.
The beach is truly world-class and the lots are large, serviced, easily accessible and very affordable. Unfortunately, the supply of these wonderful opportunities is quite limited – and, to date, “to see is to buy” has been the response of North American visitors.

Only 14 lots available in this intimate resort – there are 7 lots available on the beachfront and 7 lots in the second row.

Beachfront lots are priced US $ 94,330 (43.2′ x 97′ lot) ~ US $ 105,890 (43.2′ x 108′ lot)

Second row lots are priced US $ 55,000 (44.5′ x 92′ lot) ~ US $ 64,680 (44.5′ x 108.8′ lot)

Within 6 months of closing on your lot purchase it is necessary to begin construction of your custom villa that has to be completed within 18 months.

Custom Villas

Our experienced builder is waiting to provide you with your dream home (and perhaps even a charming guesthouse) on your beachfront estate. Soon it will be possible to visit our existing villas so that you will be able to see the high quality of the building skills, the overall construction expertise offered and the top quality materials and finishes that are used.

Steel-reinforced concrete construction, flawless custom coloured stucco wall finishes, maintenance-free tile floors both inside and the patios, decks and exterior walkways. Large fully tiled kitchens and bathrooms, high-quality air-conditioning, appliance and furnishings packages offered are just a few of the features that make the choice to live here an easy one!

Most of all – you will be impressed by the low cost of your villa residence. A fraction of what you would expect to pay in your hometown or in other popular tropical vacation or retirement locations. You will also find that your price will be exceptionally competitive with local prices.

Your new home will be custom built for you in an elegant Mediterranean villa style that is so well suited, both esthetically and functionally to your new lifestyle on the Nicaraguan Riviera. You will be able to choose from designs featuring elegant archways with high ceilings and beautifully tiled floors. Choose from an array of the most up-to-date and upscale appliances and entertainment options and you will be able to select from a range of patio styles and may include quarters for your maid or guests.

All information taken from sources believed reliable however is not guaranteed.

It is a unique business opportunity for  the right buyer.

The Zoo is open Spring through Fall and features over 120 animals including large cats (Lions, Tigers), reptiles, monkeys, buffalo, small cats, wolves, a camel, deer and bears.

Set on 55+ rolling acres and some truly stunning views.

Property features 2 homes – one currently used by the owner and one by the manager – who will stay on to assist the new owner with animals if desired.

Many of the animals have been hand reared and have been used in the Movie industry throughout N. America.  There is a small movie set on the property.

The Zoo is very popular with school groups, photographers and is well known for it’s very well attended night safari’s.

Almost 1/2 acre lot set in the stunning, well established, Altos del Maria development which is located in the Central Mountain Range (Continental divide).  Beautiful gated mountain community, located approximately 1.5 hours drive from Panama City along the PanAmericana Highway.

The entrance to the development is approximately 30 minutes drive North of the highway. All excellent roads!

This is a corner lot, offered for sale at US $69,000, is located in the Santiago Apostol neighbourhood and is approx. 2,013.39 m2.  Direct access from paved road.  Located at 2700 feet above sea level you are away from the heat & humidity found in the city and lower altitudes. The view from the lot is fabulous  with a bit of everything – looking forward island & ocean view and to the rear is mountains. Fabulous place to build your dream, vacation or retirement home!

Here are some pictures Sue took recently at the Altos del Maria development showing you the sales centre, some of the homes within the development, some of the lush vegetation, gorgeous flowers, enjoy!

Some details about the well established development of Altos del Maria

• Located about 90 kms from Panama City
• Development is over 7500 acres (3000 hectares) and is divided into neighbourhoods
• Garden like landscape with vast common areas
• Elevations within the development vary from 1640 ft to 3,,608 ft above sea level
• Temperatures range from 18C (65F) to 27C (80F) depending on the elevation of the lot
• Approx. 30 kms from the public beaches on the Pacific coast
• Approx. 30 mins from a golf course
• Breathtaking natural surroundings – flowers, trees, rivers, hiking trails, dozens of creeks, waterfalls
• Abundant species of birds
• Wireless internet
• Small grocery store & restaurants within 2 kms
• Approx. 30 kms from the town of Coronado.  Some of the amenities found there:
  • Shopping
  • Medical facilities
  • Restaurants
  • Entertainment
  • Fitness facilities
• Heliport
• Approx. 18 kms from the town of El Valle de Anton and its amenities
• 20 minute drive to natural attractions e.g. canopy tour, zoo

To find out more about this lot and the many other opportunities in Altos del Maria  contact Sue today

All information taken from sources believed reliable – buyers should verify all information for themselves.

http://goo.gl/eaojf

Here is Johns’ contact information should you have any questions or need some help with your IRS Foreign Reporting Requirements:

John Dillinger, CPA, PFS, MS.tax

While All information is taken from sources believed reliable it cannot be guaranteed.

Buying a Property in Costa Rica

The decision to purchase real estate in a foreign country can at first be a daunting proposition.  However, it is possible to safely buy property in Costa Rica with the assistance of a reputable REALTOR® and attorney.  Your REALTOR® should be able to help you to locate property suitable to your needs, educate you as to property values and other considerations in your chosen area, and assist you with negotiating a fair price. You should also use an attorney (Certified Public Notary) with a good reputation who can handle the financial aspects of the transaction and ensure that you will have legal title to your property.

Title Insurance is available in Costa Rica through well-known international companies such as Stewart Title and Fidelity Life, Chicago Title and Land America

Ownership: It is possible to purchase real estate through direct transfer where one or more individuals acquire property in their personal name.  Purchasing properties through a new or existing corporation is also very common in Costa Rica.  The process of setting up a corporation is not complicated or expensive, but requires the expertise of your attorney to follow the legal protocols involved.

The Public Registry of Properties: All property in Costa Rica should be registered in the Public Registry of Properties, whether the property is fee simple or concession. By means of the Public Registry of Properties your attorney will be able to confirm that the seller possesses ownership of the property, and to discern if there are any restrictions on the property before the deal goes through. Avoiding the purchase of unregistered property is strongly recommended.

Folio Real Numbers and Cadastrals: Each property registered in the Public Registry of Properties has a Folio Real number, which is the unique number assigned to each property to identify it.  The number is comprised of three parts, the first number indicates the province, the second group of six numbers is the number of the property itself, and the last group indicates how many owners the property has.  All properties must have this number in order for clear title to be obtained. Each registered property also has a survey plan, or Cadastral.  In order to transfer, mortgage, or acquire a property, the survey plan must be recorded at the Public Registry of Properties.

Property taxes in Costa Rica are very low, only ¼ of 1% of the registered property value.  Certain standard closing costs are required in Costa Rica to transfer the title of a property from the seller to the buyer, and this is always paid by the buyer.  Closing Costs include: (1) Real Estate Transfer Tax, which is 1.5% of the registered value of the property on the deed; (2) Documentary Stamps, which total approximately 1.25% of the registered value; (3) The Notary Fee, which is 1.5% of the first million colones and 1.25 % on the balance of the property sales price.  This means on the purchase of a $100,000 property, closing costs would be approximately $4,250, and property taxes $250 per year or lower.

Financing: If you need to borrow funds, it is generally far simpler and interest rates are usually lower in your home country. However, if your credit rating is impeccable, financing in Costa Rica may be available.  Some banks, such as the Bank of Nova Scotia, offer financing to foreigners. Usually the bank will finance somewhere between 40 and 50% of the purchase. Certain projects and/or private owners may also offer some kind of financing arrangement.

If you have any questions please don’t hesitate to contact me

Information taken from sources believed reliable but not guaranteed

As a REALTOR involved in International Real Estate I’m sure you know that I did have a business reason to visit Trujillo, Honduras!

As I mentioned in a previous blog during my trip I visited the developments of Campa Vista and Alta Vista.

If you have been contemplating buying a piece of paradise and think that you have missed the opportunity – take heart!

Honduras (in my opinion) offers a fabulous opportunity. It is estimated that property in Trujillo is probably about ⅓ the price of similar properties in Costa Rica.

To give you an idea of the price of some of the available lots:

• ½ acre – US $49,559
• ¾ acre – US $47,599
• 1 acre – US $54,300
• 1½ acre – US $63,299

What is included in the purchase price of your lot?  Services: water, electricity and roads as well as being graded and tested.  It is also located in an exclusive gated community with 24/7 security.

Foreigners can own property in Honduras as a result of a change in the law in 1990.

The process of transferring title is similar to how it is handled in Canada.  In Honduras there is a registry system and the title is held in ‘fee simple’ – in your personal or if you wish a company name.  You do receive a deed to your land.  As in Canada you are advised to get title insurance.

Another question a buyer will ask when considering buying a lot – do they have to build immediately or is it possible to buy a lot and hold?

Whilst the developer would prefer to see people building in the developments, with the exception of the lots located in the beach community where there is a requirement to build within 3 years, there is no requirement to do so in the other areas.

When the development opened several years ago the price of construction was US $75 psf.  Today construction costs are approximately US $95 per sq. ft. Even at this price you will see it is still possible to build a home in paradise for a very reasonable price!  Building sooner than later would also make sense as it is anticipated that building costs will go up again in the coming years.

The developments are within gated communities and owners will, when it’s completed, have access to the Trujillo premier beach club which will feature swimming pools, hotel suites, full service bar, green areas.   Until the club is completed owners are able to use the Trujillo Campamento Beach Club and its facilities.

A question often asked when discussing real estate opportunities in Central America is about the political stability of a country.

Honduras has a democratic political system with a strong constitution that has been in place for 30 years.

Economic growth has been spurred on by the close ties established with the U.S. resulting in building business and infrastructure – a free trade agreement was signed with the U.S.in 2005 which has seen the amount of business increase.

During my recent visit to Trujillo, Honduras my host took me to visit some of the hotels and resorts that people choose to stay when coming down to take a look around at Campa Vista and the Alta Vista developments.

Banana Beach Resort.

This resort is owned by an American gentleman Rand and run with the help of his daughter Jenna.  It’s a small resort again right on the beach.  They have 2 – 2-storey, 2 bedroom cabanas with full kitchens for rent, fabulous new pool, and ‘The Mystic’ Beach club, restaurant & bar.

We ate at the restaurant a couple of times during my visit – they have a selection of local and N. American items on their menu – the dishes I had were excellent – especially the fish!

Campamento

This resort is owned by a lovely Honduran couple, adjacent to Tranquility Bay, located on the beach – 17 rooms/cabanas, restaurant/bar, several raised areas to relax out of the sun, pool.  

We stopped in for a cool drink (fresh coconut water is fabulous) before we took a walk along the beach and around the lovely grounds.

Casa Alemania

This resort is owned by German gentleman, Gunther and his lovely Honduran wife, Paula.  26 room resort on the beach. Restaurant & bar, new pool.  This was where I enjoyed ‘Oktoberfest’ the night of my arrival. I didn’t have my camera handy so sorry no pictures.  Although it was dark and I couldn’t see the beach I could hear the waves rolling onto the shore.

Christopher Columbus Hotel.

This is a larger, more traditional low rise hotel/resort with 72 rooms. Set on a beautiful beach.  They have 2 pools one for the adults and another for kids.

They have both a formal and a more casual restaurant/bar under a large palapa in the outdoor activity area.

Tranquility Bay

This resort is owned by a Canadian couple and situated on the beach, 5 charming cabanas, restaurant.  They have kayaks for rent and other water sports. Guests can use the pool at the adjacent Campamento resort.

We were walking around the grounds when a friendly monkey appeared to harass the dogs and then take up residence on a shoulder – thankfully it chose Randy’s shoulder over mine!

There are many other hotels in the Trujillo area – these are the ones that are closest & most convenient for people coming to the developments of Campa Vista & Alta Vista.

Residents, owners and visitors visiting the park see many indigenous fruit crops being grown (pineapple, palm, mango, papaya, banana, passion, star fruit) in addition to some native animals (all rescued) that are found in Honduras within the park system.

When the park system is complete it will include four parks:

• Agriculture, Marine & Animal Park
• Riverside Village Park
• Historical Park
• Wildlife Park.

The Agriculture, Marine and Animal Park will be the first park to be completed in time the first cruise ship visit to visit Banana Coast Cruise ship terminal in Trujillo (anticipated in late 2012).

I had the opportunity to walk around the park which is ‘growing in’ during my recent visit.  Here are some of the photos from my visit to Campo Del Mar Nature Park in Trujillo.

Visitors to the park will find indigenous plants, trees, fruits, flowers and herbs, indigenous animals in spacious enclosures (these are rescued animals) and enjoy the wonderful beach and beach club.

All information believed reliable but not guaranteed.