Learn How to Buy a House in Colombia

Your First Home Purchase

Tips for Buying a Home

Projects to Buy a House in Colombia

Buying a home is one of the most common goals for young people and adults alike, and it's common to have questions about how to start the process of buying a house in Colombia, which is why it's crucial to have professional guidance from real estate experts who can guide you from the very start of the purchase process.

Encouraging home buying in the country has been one of the most emphasized factors in recent years, since the arrival of the pandemic and the economic crisis it caused led the real estate sector to lose momentum. According to DANE's analysis, based on information published by Infobae, the number of people who owned their own home decreased in 2020 compared to 2019, whereas by 2021, "with more than 190,000 units sold in 10 months, it was the best year in the country's history for home sales."

That's why now is the perfect time to think about buying a house in Colombia and making the investment for you and your family alongside experts like Arquitectura y Concreto.

Your First Home Purchase

Buying a house in Colombia means securing your future and your family's, since it means finding a unique space to live in or invest in. You'll be able to decorate the space to your taste, find harmony and comfort in the area you like best, and it will give you the confidence to grow and transform your life in a positive way.

Taking the first step to buy a home in Colombia means having a plan for making a very important decision, all in order to avoid surprises in the middle of the investment process. And although the desire for independence is one of the factors that influences the purchase of apartments in Colombia, especially among young people, the key is to make sure the process is carried out calmly and brings the expected results in the shortest possible time.

According to experts like Jairo Coronado, a professor at the Faculty of Habitat Sciences at Universidad de La Salle, in an article published by Revista Portafolio, raising awareness about buying a home at an early age is a good thing because "it builds a sense of asset ownership and financial security. It also opens up other perspectives from a social, cultural, and economic standpoint, as well as perspectives on responsibility, taste, and comfort, among others."

That's why, below, we share some tips to keep in mind so that buying a house in Colombia is an enjoyable experience.

Tips for Buying a Home

While every purchase process is different, these are some of the points that can be key to enjoying and successfully completing the purchase of an apartment in Colombia.

1. Know Your Income

Your borrowing capacity is a key factor when buying a house in Colombia, since ideally this positive debt shouldn't affect other areas of your life and should be a comfortable contribution throughout the purchase process.

2. Financing Methods

Choosing how you'll pay the down payment on your apartment or house is another important aspect. Decide whether you'll use your own savings or extra income such as bonuses or severance pay to take that first step toward buying an apartment in Colombia.

3. New or Used Home?

Do you prefer to buy a new or used home? The decision you make about the type of property could affect the total investment amount; however, it's best to have this defined before starting the financing process. In Colombia there are all kinds of projects within your reach, and through Arquitectura y Concreto you can find used or new houses and apartments that are perfect for you.

4. Rent or Live In It

Buying a house in Colombia becomes a way to build a stable future for your family, and this stability can be tied to investing in a property either to rent out or to live in. If your idea is to get the most out of buying your first home by renting it out, you could opt for properties with good growth potential and appreciation. But if, on the other hand, it's for your own and your family's enjoyment, you should think exclusively about what's essential for your household.

5. Additional Expenses

Beyond the value of the property, there can be additional expenses during the investment. Renovations or finishes the apartment may need, as well as the paperwork and documentation required during the purchase process, are some of the expenses to keep in mind when buying an apartment in Colombia.

Projects to Buy a House in Colombia

Arquitectura y Concreto has different projects throughout the country that could become your next home. Here are some options for buying a house or apartment in Colombia:

Saint Michel

Saint Michel is an apartment project located in El Poblado in Medellín, with exit roads toward eastern Antioquia. It consists of 3 towers with 4 apartments per floor, each with 2 or 3 bedrooms.

Tribeca

This project could be a unique opportunity for buying an apartment in Colombia, as it's an exclusive tower with 2 apartments per floor. Each apartment will have a spectacular 180° panoramic view.

Unión 5 Once

These apartments are located in one of the most exclusive areas of Cartagena. Unión 5 Once is a high-end project featuring 2- and 3-bedroom apartments with beautiful direct views of the Caribbean Sea and Tierra Bomba Island.

Girasoles

The Girasoles project in Cajicá, Cundinamarca, features apartments designed for families who want to live in an open, natural setting. Here you'll find apartments for sale with 2 or 3 bedrooms.

DC Home

DC Home is an apartment project that is part of the Nueva Colina master development in the city of Bogotá. Its design is inspired by people looking to buy their first home, university students seeking independence, and couples just starting to build their family.

For more information on how to buy a house in Colombia, you can get in touch with an advisor through our website and learn more about the projects available throughout the country.