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," explained one expat living in Cali, Colombia.

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"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," said another expat in Medellin, 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 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.