Questions and Answers about Plantation Acres, Costa Rica

GENERAL

What is Plantation Acres ?

The project is an eco-residential resort community, comprised of 50 acres of both tropical and forest land divided into 47 estate sized lots. There are 29 ocean view and 18 forest view lots, each a minimum of 1.25 acres (5000m2). There will also be a swimming pool, a clubhouse and a barbecue area. 

Does Plantation Acres have security? Is it safe?

Absolutely. Plantation Acres is a private, gated community that has 24-hour security, to insure your privacy and safety.

Does Plantation Acres have beach access?

Plantation Acres is only minutes from Punta Leona and Agujas beaches, which is great for morning walks. Additionally, there are several beautiful beaches within a 10 minute drive, like Playa Blanca and Playa Manta. Jaco Beach and Playa Hermosa are located only 10 minutes from Plantation Acres

Is there shopping close to Plantation Acres?

A new up-scaled shopping center featuring boutique home services and a super market is currently under construction in Playa Herradura. Additionally, both Jaco and Orotina offer large supermarkets and small convenience stores

How close is the nearest medical facility?

Both Jaco and Orotina offer doctors and excellent medical clinics.

What is the closest airport to Plantation Acres?

All private and commercial aircraft are required to clear Customs and Immigration in one of the two international airports: Juan Santamaria International Airport in San Jose’ or Daniel Oduber International Airport in Liberia. Visitors to Plantation Acres should fly into San Jose airport, as it is significantly closer to the development. From there it is only a 1 hour and 30 minute drive.

Are pets allowed at Plantation Acres?

Pets are allowed as long as they are contained within your property and pose no threat or nuisance to other residents. It is a relatively easy process to bring a pet into Costa Rica. For further information, contact your airline of travel. 

Where does the water at Plantation Acres come from? Is it included with the maintenance monthly fee?

The water at Plantation Acres comes from well(s) that you will be building on your home site. Presently, there is an aqua duct beneath Plantation Acres and two springs on the property to provide clear fresh water for all of your household needs

HOME SITES

Do I have to use Plantation Acres architects or can I use my own architects and plans?

You are certainly free to choose the architect you desire for the design of your home. We only require you submit your plans to Plantation Acres Architectural Committee for approval in order to ensure that certain quality standards are met and rights of view are protected.

What can I build on my lot?

We do have some limitations with regards to construction. The lot owner agrees to build within 3 years from the date of purchase. Homes can not be less than 1,500 sq feet under roof. Additionally, lots cannot be subdivided after their purchase.

Does Plantation Acres have a construction company or do I find an independent builder?

Plantation Acres has an onsite architect and engineer. We also work with select smaller companies that we can recommend. However, you are free to choose your own independent builder.

Are there any restrictions on the resale of properties? If so, what is the standard commission?

To maintain the highest resale values and provide owners with the best brokerage services, we presently require all buyers to list their property with the Plantation Acres Sales Office for resale as specified and agreed to in the Purchase and Sale Agreement. Sellers may choose to either sell their property without an agent in which event no commission is payable to Plantation Acres or to list their property with a third party, in which event a commission is payable to Plantation Acres upon the closing of the sale of the property or the stock quotas of the S.A. or Limited that owns the property. Plantation Acres charges a 6% commission, which is on par with the region and national averages.

Does the fact that I own property automatically qualify me for Costa Rican residency?

No, If you are interested in obtaining residency, we advise you contact a reputable attorney such as Gerardo Calderon Leon (tel. 011-506-836-1831). It is not necessary for you to obtain residency if your maximum stay in the country does not exceed the period specified on your tourist visa. After spending a minimum of 72 hours outside the county, you will be allowed to re-enter Costa Rica and receive another tourist visa.

Are there any restrictions for foreigners to own property in Costa Rica?

Foreigners have the same rights as Costa Rica nationals when it comes to real estate in Costa Rica. Regardless of your nationality, we always recommend that you take title of your Plantation Acres property either through a Costa Rican corporation (“Sociedad Anonima” or “S.A.”) or limited liability company (“Limitada”), as this has many current tax advantages when it comes to reselling the property at a later date.

How much is the construction cost for a house?

The construction cost of a good luxury home can range from $75.00 to $100.00 per sq. ft. depending on the finishing and materials chosen.

EXPENSES

How much are maintenance fees?

The Plantation Acres Homeowner Association fee will be approx. $100.00 per month, subject to revision yearly. A detailed break down of these fees shall be provided.

What sort of taxes can I expect to pay on my property?

At the time of sale, you will be responsible for land transfer taxes and registry stamps totaling approximately 2.5% of the purchase price of the property. As most buyers elect to take title to their properties in either a Costa Rican S.A. or Limitada. Property taxes in Costa Rica are significantly lower than in North America. They are currently set at 0.25% of the registered property value and are payable on a quarterly or annual basis, at the property owner’s discretion. There are currently no capital gains taxes in Costa Rica on the sale of the property or the sale of the shares or quotas of the S.A. or Limitada that owns the property.

CLOSING

How long does it take to close?

Closing is very convenient and fast. It can take less than 24 hours, depending on how long it takes for your cash transaction to post.

Do I have to be in Costa Rica at closing?

No, a Power of Attorney can be appointed by you to close by proxy.

Why does Plantation Acres sell real estate through corporations?

First, there is no sales tax on the purchase of a corporation. It also protects you from personal liability in case of accidents or suits from third parties. The property is inherited by your beneficiaries without transferring the title, thus reducing costs. Resale is also completed without the costly title transfer. In addition, as an owner of a corporation, you can buy a cell phone, a car, or get a phone line connected in Costa Rica. Non-residents do not have this purchasing ability. The only way to make these types of transactions is by either being a national/resident of Costa Rica or the owner of a corporation.

PAYMENTS

How can I reserve a home site?

To secure the reservation, you deposit Ten Thousand Dollars ($10,000 USD) as an upfront sign of agreement towards the purchase of Real Estate /Property. These funds will be delivered and deposited into the escrow account of Lic Gerardo Caldron Attorney at Law. You will then have up to 60 days to physically inspect the property here in Costa Rica and agree to the terms. At closing the cash balance is due.

CONTACT INFORMATION

For further information about Plantation Acres please click here to visit our contact page or call us now on 011 (506) 643 1165 (Costa Rica office)

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