How to buy a home in Colombia from abroad?

At Arquitectura y Concreto we know the effort Colombians living abroad make to achieve their dreams, which is why, together with our International Sales Director, Olga Patoa, we explain how to buy a home in Colombia if you live abroad and the documentation process for mortgage or cash purchases in off-plan and ready-to-move-in projects.

• 3 steps to buy a home in Colombia from abroad

• What to consider when choosing an apartment or house

• How to buy my second home

1. Select the property: browse our catalog of available projects at www.arquitecturayconcreto.com. Remember that we have VIS (social housing) and non-VIS residential projects in Colombia's main cities, in regions such as Antioquia, Cundinamarca and the Caribbean. We also have projects starting at 150 thousand dollars, with immediate delivery or terms of up to 36 months to pay the down payment.

2. Reserve your property: once you've chosen the project of your dreams, it's time to reserve the property. You can do this process 100% online, and you'll need to sign the trust agreement. Remember that each of our projects is backed by a trust company, which safeguards the money until the project reaches its break-even point and construction can begin.

1. Sign the deal: once your deal is linked to the trust, we prepare all the trust contract documents, the signing of the plans, and the signing of the payment plan you've chosen. Keep in mind that the builder offers you a payment plan, but you can also propose your own payment plan that better fits your monthly income.

There are many factors you should consider before deciding on a specific property, for example:

The price: it's important to choose an apartment or house that lets you maintain cash flow. It's also good to have some extra money in case you need to make adjustments or renovations to the property.

The location: not only because the area determines its annual appreciation, but also because it's vital to consider proximity to your family, schools and universities, and shopping centers or financial service points.

The built area: especially if you have a large family or even if you love pets and aren't satisfied with just 2 of each species.

The builder: if you're thinking of buying a new property, it's essential to have strong backing, especially for the warranties and construction quality standards.

The timing: and we don't just mean the age of the property, but also the time you have to make the monthly payment. Remember that you need cash flow, so the home buying process won't be exhausting!

Your personality: choose projects that suit you, your way of life, what you enjoy most and your personal style.

The process is really the same; just keep in mind that to get a mortgage you need to have paid off the previous one, so make sure you're fully paid up, not because it's a bank requirement, but because this way you'll be able to pay off the loan with greater peace of mind.

Our best advice is to give yourself some time before looking for a second property, because we want you to fully enjoy the achievement of buying your first home. So breathe, give yourself a couple of years after completing the payment, unleash your creativity, personalize your home and enjoy the best moments with family, on your own and with friends.

Olga Patoa

Business Administrator, specialist in Senior Management, with a master's in Organizational Management. She has 15 years of experience in sales and mortgage lending for Colombians abroad.

Industrial Engineer from the Universidad Javeriana, specialist in strategy and innovation from Copenhagen Business School, MBA from Tec de Monterrey. He has 19 years of experience at Davivienda and 6 years of experience in housing finance.