Should I buy or rent a home in Peru?
If you have not spent a lot of time in Peru, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"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," remarked another expat who made the move to Lima, Peru.
"Buying a home in Peru can be a great investment, as the country has a growing economy and real estate market. However, it is important to consider the cost of living in Peru, as well as the availability of financing options, before making a decision. Renting a home in Peru can be a great option for those who are not ready to commit to a long-term purchase, as it allows for more flexibility and can be more cost-effective in the short-term. Ultimately, the decision to buy or rent a home in Peru should be based on individual needs and preferences," explained one expat living in Peru.
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Other Questions:
- What do I need to know before moving to Peru?
- How do I find a place to live in Peru?
- What is a typical expat home or apartment like in Peru?
- What is the average cost of housing in Peru?
- Should I buy or rent a home in Peru?
- What should I pack when moving to Peru?
- What cultural faux pas should I try to avoid making in Peru?
- Why do people move to Peru?
- What are healthcare services like in Peru?
- What are medical services in Peru like?
- What are typical rents in Peru?
- What appliances are typically included in a rental?
Should I buy or rent a home in Peru?
If you live in Peru, newcomers to Peru 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.
