Rent vs Buy: Downsides of Renting and Buying Property in Medellín - Medellin Guru
Rent vs Buy: we look at the advantages and downsides of renting vs buying property in Medellín. Which is better for foreigners – renting vs buying?

Rent vs Buy: Downsides of Renting and Buying Property in Medellín

Subscribe and become a patron to see this content! The future of Medellin Guru needs the help of readers to remain ad free. Becoming a patron costs as little as $3 per month and provides access to all the content on Medellin Guru plus other benefits.
To view this content, you must be a member of Medellin's Patreon at $3 or more
Already a qualifying Patreon member? Refresh to access this content.

Last Business-Directory

11 thoughts on “Rent vs Buy: Downsides of Renting and Buying Property in Medellín”

  1. Daniel Rusteen December 16, 2020

    I cannot find this article on Patreon

  2. Jeff, excellent article. One of the reasons we are choosing to buy is because it helps us to be able to get a 5 year visa. We can also put the place on AirBnB when we travel for more than a month at a time. Not sure if renters have the same flexibility. Not sure, but I believe by renting the apartment, that opens up a bunch of potential tax write-offs back in the States. Lastly, although landlords are responsible for fixing things, to what standard and in what timeframe can vary dramatically.

  3. – CDT (security deposit) is the way to go for foreigners. You’ll be asked a deposit from 3 to 10 months worth of rent, with an insurance company. That’s it. Save a lot of hassles otherwise. Nobody in Colombia wants to be a “fiador” (guarantor).

    – As for buying, it’s a personal choice. Like someone told me once: for the same money, would you be able to buy something similar or better in a more stable country? So, yes, there are pros and cons.

  4. Hi Jeff, good and informative reading as usual. With regard to the fiador requirement, if an individual chooses the CDT route, does the bank return these funds with interest at the end of the rental term?

    • Yes, the bank returns the funds with interest at the end of the rental term if no issues with the rental.

  5. Graeme Ruddick August 22, 2019

    Hello. I am from the UK and house prices in Devon where I live are always on the rise. How does this compare now in Medillen ?

    • The prices continue to rise in Medellín in terms of pesos. New homes tend to increase in price each year by the inflation rate, if not more. I understand there hasn’t been a down year in Medellín for the real estate market in at least the past decade.

  6. Brian Cosier August 22, 2019

    Thanks another good read Jeff.

    It would be interesting to know the average number of days properties are available for sale until sold.

    It would also be interesting to hear how successful tenants have been when taking their rent increase issues to their local municipality.


  7. Nice post that should be required reading for foreigners moving to Medellin. We decided to rent as rents are so cheap and we also like the flexibility of renting.

Comments are closed.