Should I buy or rent a home in Lima?

If you have not spent a lot of time in Lima, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"Buying a home in Lima can be a great investment, as the city is growing rapidly and property values are increasing. However, it is important to consider the cost of living in Lima, as well as the cost of purchasing a home. Renting a home in Lima can be a more affordable option, as it allows you to live in the city without the long-term commitment of buying a home. Additionally, renting can provide more flexibility if you are unsure of how long you will be living in Lima. Ultimately, the decision to buy or rent a home in Lima should be based on your individual needs and financial situation," said another expat in Lima, Peru.

"I rented a house (Miraflores) for the first year from a gringo who actually took a USA check for the years rent. I also bought his car and sold it 6 years later for the same price. I bought a Penthouse apartment overlooking the Pacific (for a song)on my tourist visa with only $500.00 deposit and a photocopy of my passport," wrote a member who made the move to Lima, Peru.

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