GUIDELINES FOR PROSPECTIVE BUYERS | Costa Verde Costa Rica
GUIDELINES FOR PROSPECTIVE BUYERS
FINANCIAL OBLIGATIONS:
Costa Verde operates as a Property Owners’ Association built on trust and integrity. Our collective well-being is contingent on the shared responsibility of each property owner.
It is important to understand that when individual property owners do not fulfill their financial obligations, this increases the financial burden on their fellow neighbors.
If these financial obligations do not align with your preferences, we encourage you to please explore alternative options that better match your needs.
Access to community assets requires properties to be current on financial obligations. If purchasing a property with outstanding fees, settling these as part of your transaction is crucial. We advise resolving any unpaid fees with the seller at the time of deal closure and recommend obtaining a letter of good standing before finalizing your purchase.
1) Annual Fees: At Costa Verde Estates, we operate on an annual fee system that plays a pivotal role in the preservation and enhancement of our community's assets and security.
In 2024, the annual fees were set at $3,784. These fees are instrumental in upholding the exceptional quality of life that defines our neighborhood.
Our commitment to maintaining this high standard of living is made possible through the dedicated efforts of our team who oversee the meticulous care of our grounds and ensure gate security.
With over 11 kilometers of roads to maintain, a gated community boasting 24/7 security, a well-equipped fitness center, a tennis/pickleball court, a welcoming community park, and an emergency helipad, our financial resources are directed toward sustaining these essential amenities.
2) Building Assessment Fees: Building Assessment Fees are in place to support road maintenance due to heavy truck use and to upgrade our infrastructure as the community expands.
These fees apply to both new construction and renovations.
New construction incurs a fee of $1 per square foot, while renovations within existing foundation size and floor levels cost $0.50 per square foot.
3) Special Assessments: In some years, special assessments may be implemented to address specific community needs or projects. Please note that we are undergoing upgrades to the water system which requires funding through special assessments.
4) Escaleras Road Fund: In 2024, Property owners contributions were $400/Home and $200/Lot to the Escaleras Road Association which maintains Escaleras Road. For more information, please see their website at www.escaleras-costarica.org
Additional Information
Ensure that your real estate agent or lawyer provides you with a Letter of Good Standing prior to closing to ensure that the seller is up to date on their fees.
Access to our community’s common areas, including the tennis/pickleball court, fitness center, and community park, and emergency helipad is reserved for properties in good financial standing.
These are a set of guidelines that property owners adhere to regarding property use and maintenance, including common areas. These rules are designed to preserve the community’s overall aesthetics, property values, and the quality of life. They encompass various aspects, such as construction standards, road regulations, tenant guidelines, and more.
Just as with financial commitments, if these community rules do not align with your preferences, it’s important to consider whether this community is the right fit for you.
Download the full policy here
We are committed to maintaining the integrity and vibrancy of Costa Verde Estates, and we invite you to reach out if you have any questions or require further information.
Contact Information: Email: [email protected]