Finding the perfect property in Costa Rica is more than just a transaction—it’s a journey. For Chanel, that journey led her to the sun-drenched shores of Guanacaste, where she discovered an investment that exceeded her expectations. With the guidance of expert agent Susan Schiavon and the support of Second Street, Chanel navigated the process with ease and confidence. In this blog, she shares her experience, from searching for the ideal location to securing the right financing—proving that with the right team, paradise is closer than you think.
Can you start by telling us a bit about yourself and what initially brought you to Costa Rica?
I am a registered nurse that loves to travel. I knew around 2018 that I did not want to retire in the US. During my travels, 2 countries stood out to me. Thailand and Costa Rica. In the new year, I said let’s look for a place in CR. I didn’t give it much thought. I googled some properties and found 2 realtors, one of them was Susan. After talking to both, Susan was the person I wanted to work with. She is very detailed and did not make me feel pressured.
What were you looking for in a property, and how did you get connected with Susan Schiavon?
Single family home, condo or townhome with at least 2 bedrooms and bathrooms at about $250,000. I used Google search.
Can you walk us through the timeline of your property search with Susan?
The timeframe wasn’t long. I started around January 13, 2025. She sent me a few listings that matched my request. I selected the place I wanted. Initially, it was a new one that was not occupied, but then the one I purchased opened up that was furnished and had an LLC that was already established. I thought this was a great deal despite it being out of my budget. I liked the fact the owners were older. Older people tend to take great care of their things and Susan said their place was very immaculate. Susan had gained my trust, so I believed what she told me and valued her opinion. We placed a bid and by January 24, 2025, I was sending my deposit. I came down February 7, 2025, met Susan and saw my place. She was very sweet and professional and so right about the place I purchased. It was a perfect fit for me. Target closing date was February 14, 2025, but there were a few delays. The appraisal, CPA letter, and Juan in escrow. We closed on February 21, 2025
What was your experience like working with lawyers and handling the legal aspects of buying property in Costa Rica?
It was certainly a detailed and complex process, requiring patience and careful attention to every step. However, with the right legal guidance, I was able to navigate it successfully.
How did you secure financing, and what was your experience working with Second Street as a lender?
I got a 30-year fixed loan with Second Street. It is costly, but after careful thought and reviewing of my other options, this was the only way for my particular financial situation. This option gave me the opportunity to get my dream retirement home in CR. Second Street was a great option for my situation and made my dreams come true. Traditionally, loans offered in Costa Rica are short term and no options for a 30-year fixed loan. Now, there is a solution. Second street is a US based company offering what Americans are accompanied to, with a competitive interest rate. This magnificent opportunity allowed me to buy a home in a place I’d like to call home when I retire. I had the most wonderful experience from start to finish. I called the number listed on their website. Steve, Sr. Loan Officer, answered. I was like this is real. No voicemail!!?? He was very pleasant, professional and knowledgeable. I have a very unique situation being a travel RN and working for multiple agencies. Lenders want to see a consistent 1–2-year work history. While I had the income and credit, I didn’t have the work history. But Steve didn’t say, “Well, we can’t help you”. What he said was let me get a better understanding of your situation. Steve and the under writer, Mike, knew that times had changed in my particular industry and were willing to listen. I thank them so much for the opportunity they gave me. After my preapproval letter, Steve was by my side throughout the entire process. I could text, email or call and Steve would follow up quickly. He even told me, “Chanel I don’t want to rush until you fully understand”. He said to the other parties I was working with, “Chanel is all our client and we need to make sure she is comfortable with everything”. He made me feel valued and helped lower my stress. Thank you Second Street for a phenomenal experience and team.
Timeline with Second Street
- January 8 – our introduction via email and a phone call with Chanel
- January 15th, our underwriter pre-approves Chanel and we issue the pre-approval letter
- February 6th – initial loan disclosures are signed
- February 15th – initial appraisal received
- February 16th – Due Diligence received
- January 17-February 18, we are working with Chanel on clearing her conditions for a clear closing
- February 21st – we close!
Total time: 44 total days from phone call to closing.
Now that you’ve completed the purchase, how do you feel about your investment?
Of course, with any large purchase it is scary especially when I think about borrowing from my investments for the down payment, thinking about the interest for the loan, and the tax implications for borrowing from my investments. But, I have to tell myself that this helps diversify my portfolio, I can make extra payments to assist in minimizing the interest, and that I can put money away each month to pay for the extra tax amount that could be imposed.
Would you recommend Susan Schiavon to others looking to invest or relocate to Costa Rica?
100% I would!
About Second Street
Second Street is the first institutionally backed mortgage lender in Costa Rica. This means that its primary investor is a U.S.-based, mortgage-centric real estate investment company with billions of dollars in capital under management. The team at Second Street brings decades of experience in real estate finance, fintech, mortgage lending, and the Costa Rican real estate market.
A few key aspects of Second Street’s loans include:
- Offering only fixed-rate, 30-year loans, similar to those available in the U.S.
- No prepayment penalties on any loans.
- Highly competitive rates, providing the only true fixed-rate option in the market.
- No requirements for out-of-the-ordinary terms, such as mandatory life insurance or health exams, which are typically required by local banks.
