Should I buy or rent a home in Bilbao?
If you have not spent a lot of time in Bilbao, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"The decision to buy or rent a home in Bilbao, Spain, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Bilbao for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide financial security in the future. However, buying a home also comes with additional costs such as maintenance, property taxes, and insurance. It also requires a significant upfront investment for the down payment and closing costs. Therefore, if you're not financially ready for these expenses, renting might be a better option. Renting a home in Bilbao offers more flexibility. It's a good option if you're not sure about your long-term plans or if you prefer not to deal with the responsibilities of homeownership. Renting can also be more affordable in the short term, as it typically requires less upfront money and you won't have to pay for maintenance or property taxes. However, renting doesn't allow you to build equity and your monthly payments could increase over time. Additionally, you may have less control over your living situation, as you'll be subject to the rules and decisions of your landlord. In conclusion, both buying and renting a home in Bilbao have their pros and cons. It's important to carefully consider your financial situation, lifestyle, and future plans before making a decision. Consulting with a real estate professional or financial advisor could also be helpful," wrote a member who made the move to Bilbao , Spain.
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With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Balcells Group LawyersWith over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Click connect to have our partner contact you via e-mail and/or phone.
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Should I buy or rent a home in Bilbao?
If you live in Bilbao, newcomers to Bilbao would love to hear your answer to this question.
