Pros

Return on investment: The money you pay into your property stays there, and if you own it long enough, it’s an asset that will increase in value. The same is true when you build, but not when you rent.

Ownership: Owning your own property means you can do what you like with it, within the bounds of local regulation. You can modify it, decorate it, and have pets. This isn’t the case when you rent.

Permanence: A nice, non-tangible effect of owning your own property is a sense of permanence or neighborhood. You can get to know your neighbors, because you’ll be seeing them for quite some time.

Simplicity: Buying an existing home, though complicated, is much simpler than building your own, and the headache factor is considerably lower.

Cons

More responsibility: You can’t just get up and leave if something happens. Property ties you down and reduces your flexibility.

Higher risk: Investing in a developing country carries with it a certain amount of risk – exchange rates, government stability, immigration law changes – which is one reason why property is so much cheaper than in a developed country. However, Costa Rica has the most enduring democracy in Latin America and is considered the most stable country in the region.

Greater initial cost: You need a sizable chunk of money to purchase a piece of property or a house, even if you’re getting a mortgage. This can present difficulties for some people.

Design limitations: By buying a pre-built home, you’re accepting someone else’s design, which may not be acceptable to some looking for a dream home in Costa Rica.