6 month Condo

2POSTS

6 years ago

I'm mid 50's, wife is mid 40's, we're looking to retire in the next few years and considering Cartagena. Yes, we've visited and are good with the weather (heat). We've noted that we would only be allowed to stay for 6 months at a time due to income tax concerns. We would be looking to preferably buy a 2 bedroom condo in El Laguito or Bocagrande. The prices seem very affordable. Our question would be given the 6 month rule, do you think that we would be able to find another buyer (preferable) to split the cost (who would also be looking to stay for the other 6 months) or long term rental or I suppose WE could rent for the other 6 months from a stable owner. We're not looking to become Airbnb rental hosts and all that that entails.聽聽tia for any help. j&y

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cccmedia Ecuador/Colombia Expert

10285POSTS

6 years ago

jeff101d wrote:
Do you think that we would be able to find another buyer (preferable) to split the cost (who would also be looking,聽 to stay for the other 6 months) or long term rental or I suppose WE could rent for the other 6 months from a stable owner. We're not looking to become Airbnb rental hosts and all that that entails.

Dear Jeff,

Welcome to the Colombia forums of expat.com ....

It may be too soon to buy.聽 Renting for six months next time instead of buying will inform you about how you like living there, in ways that having visited probably did not.聽 Even a couple of months living in Cartagena heat may change your mind about the weather.

Finding a six-months-on/six-off partner and managing the two-party purchase and ensuing financials successfully is a dubious concept.

Renting does not promise a headache-free existence, but would improve the odds compared to the responsibilities of being an owner and attempting the share-concept.

cccmedia

jeff101d Member

2POSTS

6 years ago

My Spanish is passable. I can get what I need and carry-on a casual conversation. Discuss 19th century philosophy? no.聽
I agree that we would rent for the first few months - just in case. We did that with our last move which was < 100 miles away.

"Finding a six-months-on/six-off partner ... is a dubious concept".
This is the heart of our question. Would this be possible? practical? Finding a co-owner/or renter/ or tenant聽 for the other 6 months would be a big plus in making our decision,

Using round numbers. We COULD live in a $200,000 condo for 6 months and leave it empty (yes with manger of course) for the other 6 months or we could LIVE LARGE in a $400,000 condo if we could split that cost.

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Adriana Gutierrez Active member

63POSTS

6 years ago

I鈥檝e been intrigued with the same idea, maybe 6 months minus 1 day in Colombia and 6 months in Spain...聽 would consider sharing /renting to start in a cooler climate - Pereira, Armenia, outskirts of Medellin.