[Sidney Crosby]

(03-21-2019 12:42 PM)Shimmy Wrote:  

(03-21-2019 11:27 AM)LowerCaseG Wrote:  

Edit: Recent transaction for upper middle class colombian assuming good job and credit, purchase of apartment in mid level barrio bogota, between 9.8-11% is what I was told.

That's correct, another downside is that on top of the 10% mortgage rate you need to put down 30% or so. Financing a place in Colombia does not make sense when your interest + fees not even including principal is higher than rent would be.

One upside is if you live in an upscale building in Colombia with a doorman you pay $100-200 a month for maintenance fees where you would pay $500-1200 a month for the same in the US due to labor costs. Same goes with property taxes.

(03-21-2019 12:31 PM)Sidney Crosby Wrote:  

What can 200k USD get you in Estrato 4,5 Bogota? Most likely a 1BR or small 2BR apartment. Go to most 2nd or 3rd tier cities in the states and 200k can get you a decent house big enough for a 3-4 kid family.

You can get a really nice 3 bedroom in an estrato 6 neighborhood in bogota for 200k. Here's an example of a newer one, you can still get one twice the size for around the same $ but not as nice.

https://www.fincaraiz.com.co/apartamento...42162.aspx

With that said I still would not wait to raise kids anywhere in Colombia.

That place is ok, but really small. I'm used to and want something bigger, the problem with being raised in Canada. Everyone wants different things though.