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," said a member in Mongolia.
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SJB GlobalSJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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Click connect to have our partner contact you via e-mail and/or phone.
Other Questions:
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- Should I buy or rent a home in Mongolia?
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- 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 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.