Nicaragua
Should I buy or rent a home in Nicaragua?
If you have not spent a lot of time in Nicaragua, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"We bought a home but I recommend you rent first for at least six months. Not everyone likes it here. You do not have to be a resident to buy a home or own a business in Nicaragua. It is fairly easy to buy a home but be careful! Everyone will try to sell you property and many of them are not stellar examples of character. Work with a known real estate agency. It is easy to forget to do the normal due diligence when you are looking from your potential property watching the sun set over the ocean," mentioned another expat when asked about moving to Granada, Nicaragua.
"I doubt that a typical home purchase in Leon, or anywhere in Nica, is a good investment at this time (2/2023), That is unless you really know what you are doing. However, due to the ongoing "issues" in Nica, you may be able to find real estate at discount prices if you know where to look. Stuff you see after a 2 minute google search will not be in this category. Prices online seem to have been set when the market was much better and conditions were good, and remain sticky at unrealistic levels. These online listings I see don't seem to reflect the new reality on the ground. If you're looking to buy in a gringo area from another gringo, go online. If you want a good deal, better to network extensively in the area you have targeted. The market is local, word of mouth, and fragmented, you will need a lot of contacts to get access to the best properties. Many properties never appear online, and searchable databases/sites are not the default sales method. I doubt there will be price growth for years or until there is dramatic political change," commented one expat who made the move to Leon, Nicaragua.
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Other Questions:
- What do I need to know before moving to Nicaragua?
- How do I find a place to live in Nicaragua?
- What is a typical expat home or apartment like in Nicaragua?
- What is the average cost of housing in Nicaragua?
- Should I buy or rent a home in Nicaragua?
- What should I pack when moving to Nicaragua?
- What cultural faux pas should I try to avoid making in Nicaragua?
- Why do people move to Nicaragua?
- What are healthcare services like in Nicaragua?
- What are medical services in Nicaragua like?
- What are typical rents in Nicaragua?
- What appliances are typically included in a rental?
Should I buy or rent a home in Nicaragua?
If you live in Nicaragua, newcomers to Nicaragua would love to hear your answer to this question.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
