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...

"Whether you should buy or rent a home in Colombia depends on a variety of factors. Consider what your long-term plans are for living in the country. If you intend to stay for an extended period of time and anticipate growing roots, then buying may be the most cost-effective option. On the other hand, if you’re going to be spending limited time in the country, then renting may be the more practical choice. Make sure to also take into consideration Colombia’s current economic and housing markets. Research real estate options, costs, and rental rules and regulations to make the right decision for your needs," mentioned another expat when asked about moving to 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," commented one expat who made the move to Cali, Colombia.

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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 one of the founders of InternationalTravel.ai and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and InternationalTravel.ai, 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. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.