Colombia
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 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," said a member in Cali, Colombia.
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"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," remarked another expat who made the move to Colombia.
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Other Questions:
- What should I pack when moving to Colombia?
- Where should I setup a bank account in Colombia?
- Will I be able to find a job in Colombia?
- What is life like in Colombia?
- What do expats in Colombia appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Colombia?
- Is there a lot of diversity? Are people in Colombia accepting of differences?
- What are the schools in Colombia like?
- What are healthcare services like in Colombia?
- What are medical services in Colombia like?
- Are healthcare and health insurance expensive in Colombia?
- What are emergency services like in Colombia?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Colombia?
- How are local medical facilities in Colombia?
- As a foreigner living in Colombia, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
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 Digital Nomad Exchange 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 Digital Nomad 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.
