Buying a condo in BA

[trojans10]

I'm a dual citizen - US/Argentina. I tend to visit Argentina quite often and enjoy staying in the city for extended periods of time. I usually rent a furnished airbnb for 3-7 months in Palermo (costs me 1-2k per month) but can't help to think what it would be like if I owned my own condo as I plan to continue to visit for years to come.

Would love to get thoughts on the pros and cons.

I've always been concerned about converting USD into pesos, as well as the various other issues that could arise from being a condo owner in Argentina.. but at the same time, maybe it can be a good investment for later in life as I am in my 30's.

 

[sts7049]

let's put it this way. say you buy a condo for 150k. that is probably equivalent to 10 years worth of visiting and renting based on your costs above at your highest budget for 7 months a year. even longer if your trips are shorter or cheaper. that just doesn't seem worth it to me, especially in this country with the instability. if you want to invest for later in life i would do that just about anywhere else in the world.

and this isn't even discussing the taxes, headaches, repairs, etc etc.

 

[jbeas176]

“i’ve always been concerned about coverting USD to Pesos” and you’ve been a member since 2012? how did you survive, on credit cards? don’t recomend you buying a place. for the last several years its been way cheaper to rent. if you have family in arg and can maintain it when your gone you could probably get a unit for a good price.

 

[medialuna]

I'm a dual citizen - US/Argentina. I tend to visit Argentina quite often and enjoy staying in the city for extended periods of time. I usually rent a furnished airbnb for 3-7 months in Palermo (costs me 1-2k per month) but can't help to think what it would be like if I owned my own condo as I plan to continue to visit for years to come.

Would love to get thoughts on the pros and cons.

I've always been concerned about converting USD into pesos, as well as the various other issues that could arise from being a condo owner in Argentina.. but at the same time, maybe it can be a good investment for later in life as I am in my 30's.

I am in the same situation. I think there are opportunities at this moment but if I do purchase something it has to be in a good location and it has yo be a good quality building ( solid construction and good quality tenants). It has to be something that can be sold easily without financial loss in the future . For me those pros and cons of buying are:

Pros: 1, potential capital gains in the future (when the economy situation stabilizes but who knows when)
2, you can stay in your own place when visiting BsA, and do temporary rentals while you are not in Argentina

Cons, you need to prepared to deal with all the issues associated with your purchase I.e buying/maintenance/tax/tenants

I think you can afford taking the risk because you are still young. You can spend some time doing house hunting/researching but don’t need to rush into buying something unless it’s a good deal. It could be fun process.