Should I buy or rent a home in Mongolia?
If you have not spent a lot of time in Mongolia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"When deciding whether to buy or rent a home in Mongolia, it is important to consider the cost of living, the availability of housing, and the length of time you plan to stay in the country. Buying a home in Mongolia can be a great investment, as property values are likely to increase over time. However, it is important to factor in the cost of maintenance and repairs, as well as the cost of a mortgage. Renting a home in Mongolia can be a more cost-effective option, as it eliminates the need for a large down payment and allows for more flexibility in terms of length of stay. Additionally, renting can provide access to a wider range of housing options, as there are more rental properties available than there are for sale. Ultimately, the decision to buy or rent a home in Mongolia should be based on your individual needs and financial situation," remarked another expat in Mongolia.
Other Questions:
- What do I need to know before retiring in Mongolia?
- How do I meet people in Mongolia?
- What is life like in Mongolia?
- Is there a lot of crime in Mongolia?
- Is there a lot of diversity? Are people in Mongolia accepting of differences?
- What are the schools in Mongolia like?
- Is the cost of living in Mongolia high?
- What advice do you have for expats having a baby in Mongolia?
- What are healthcare services like in Mongolia?
- Is the cost of living in Mongolia high?
- What type of recreational facilities are in Mongolia?
- What is the weather like in Mongolia?
- Are there good restaurants in Mongolia?
- Where will I buy groceries and do other shopping in Mongolia?
- What are the visa & residency requirements in Mongolia?
- Are healthcare and health insurance expensive in Mongolia?
- What do I need to know when buying property in Mongolia?
- Are foreigners allowed to own property in Mongolia?
- What appliances are typically included in a rental?
Should I buy or rent a home in Mongolia?
If you live in Mongolia, newcomers to Mongolia 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.