Should I buy or rent a home in Colombia?
If you have not spent a lot of time in Colombia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"We knew we had come to stay for several years or more. So we rented an unfurnished apartment. Some friends referred us to locals and the process was very easy. We bought a few things new like mattresses, TV and recliners, but all the rest of the furniture was used and we got some bargains. We had to buy lots of accessories, and those cost more than we counted on, but we have them now and they aren't going anywhere. In 3+ years, we have had 5 different homes. We could not have had all our adventures if we had purchased a home," remarked another expat who made the move to Medellin, Colombia.
"We are currently renting, but when I get there permanently next year, we will be buying. We actually were able to sign up for a government plan through a local bank. We make monthly deposits & in a year, they'll offer us our mortgage," explained one expat living in Cali, Colombia.
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Other Questions:
- What do I need to know before moving to Colombia?
- How do I find a place to live in Colombia?
- What is a typical expat home or apartment like in Colombia?
- What is the average cost of housing in Colombia?
- Should I buy or rent a home in Colombia?
- What should I pack when moving to Colombia?
- What cultural faux pas should I try to avoid making in Colombia?
- Why do people move to Colombia?
- What are healthcare services like in Colombia?
- What are medical services in Colombia like?
- What are typical rents in Colombia?
- What appliances are typically included in a rental?
Should I buy or rent a home in Colombia?
If you live in Colombia, newcomers to Colombia would love to hear your answer to this question.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.