TIRI Real Estate

Life in Puerto Rico

Life in Puerto Rico is wonderful. We enjoy the most beautiful weather possible, with balmy temperatures that range between 70 and 90 degrees year round. The Puerto Rican people are wonderful and warm. We are a part of the United States and are U.S. cit izens. Any investment you make is under the flag of the USA. Our currency is in dollars. Please read the information that we include in our Life in Puerto Rico Brochure.

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[Favorite Neighborhoods] - [Schools] - [Housing] - [Condominium Living]

Favorite Neighborhoods

Americans coming to Puerto Rico from the mainland are called "continentals". Mostcontinentals moving to the Island enjoy living in the greater San Juan Metropolitan Area, such as the Condado sector, Guaynabo, Río Piedras, or Caparra.

A prime consideration is the location of a school for the children. These areas all enjoy good schools.

Guaynabo, Caparra and some sections of Río Piedras are known for their friendly and informal way of life. There are community centers, clubs and good shopping.

Although there are now some condominiums in these sections, they are prized for their fine homes and estates. You can take your choice of a home on a well cared for street or have it set in the hills with breathtaking views. These are ideal areas for your children to be able to have lots of room to play, both indoors and out.

Life near the ocean with lots of swimming, boating and snorkeling highlight living in this area. Here homes are the exception, and condominiums are the way of life. Many enjoy expansive ocean views and good recreational facilities . This section is very "Americanized" with almost no need to speak Spanish. The schools are among the best and the shops are very exclusive. Your social life will bloom in this area with many clubs and charitable activities awaiting your participation.

In these sections there are certain condominiums that we can recommend wholeheartedly to newcomers.

TIRI will give you an orientation of these different areas and then visit some of them. This way you will have a better idea of where you will want to live. We have an exceptional selection of fine homes and condominiums to offer you.

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Puerto Rico's school system is one the larger school systems within the United States. Classes, however, are in Spanish, a significant factor for consideration by newcomers. Most executives moving to the Island generally send their children to private or par ochial schools because of their high academic standards and English instruction.

Costs per child run between $3,000.00 and $6,000.00 annually plus transportation and lunch. The school year follows the U.S. pattern, from September to June. Early registration of children is extremely important.

While you are here we will take you to a number of schools that should meet yourchildren's needs.

The schools listed here compare very favorably with those in the States and all teach in English, or English and Spanish.

Baldwin, Wesleyan, American Military, San Ignacio, María Reina, The Caribbean Preparatory School, Cupeyville, Academia San José, and Maristas.

Colegio San José

St. Johns, Robinson

Perpetuo Socorro

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Housing in San Juan is plentiful. There are residential areas to fit all pocketbooks and tastes. In general, prices are somewhat higher than many parts of the States.

A good three bedroom, two bath home will range in price from $150,000 to $250,000. The land in Puerto Rico is very limited therefore very expensive. Within this price range you can expect about an 1/8 of an acre. When you desire to get more land, the price naturally goes up. Of course, a lot depends on the neighborhood. With about 1/4 of anacre, and four bedrooms, prices average between $250,000 to $475,000 to the cost of a home. Most of our homes are geared to tropical living with beautiful folia ge and terraces. There are also excellent townhomes available from $100,000.

Property taxes are usually lower in Puerto Rico than in the States. If you live in your home you are entitled to a $15,000 exemption. As a veteran you may also qualify for an additional $4,000 exemption. Many of our homes that are priced below $100, 000 pay almost no property taxes. Some homes of about $150,000 will pay a few hundred dollars a year after the exemption is granted.

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Condominium Living

You're in good company when you consider buying a condominium. People from all walks of life and from every age group, income level, and life style own them.

Most people live in their condominiums full time, but many others buy them as vacation homes or as investments.

Condominium ownership in the United States goes back only to 1958 when the Commonwealth of Puerto Rico passed enabling legislation. Therefore, condominium living is common in Puerto Rico and all types of choices are available.

Condominiums in Puerto Rico are high risers. The smallest one will probably have 10 floors. Each unit is called an apartment. You will find condominiums anywhere in the greater San Juan Metropolitan Area. Many command breathtaking views of city sky lines or mountains, or they overlook the ocean. The highest concentration of condominiums are found in Condado and Isla Verde.

Condominiums in these areas are somewhat expensive since they are located on or walking distance to the ocean. A good 2 bedroom, 2 bath apartment can range anywhere between $150,000 to $200,000. Condominiums that are extremely luxurious (marble floor s, chandeliers, 24 hour security guard, more than 2 parking per apartment...) are more expensive, ranging between $200,000 to $450,000, and up. Condominiums in other areas will not be as expensive, ranging from $90,000 to$150,000.

The great majority of condominiums have swimming pools, 2 parking per apartment, night guard, elevators that require keys, electronic gate to parking lot, etc...
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