Prices Properties Are Finally Falling: The Right To Buy?

[Fettucini]

I am putting my house in Villa Crespo on the market now if anyone is interested, 5 bedrooms, one block outside Palermo Soho, works great as a residency renting out rooms, gets almost 100% occupancy.. it's a Ph so no expenses.. Excellent rental yield. if interested for more info send me a message!

 

[PhilipDT]

I don't understand buying here at all. Not now, and not anytime that wasn't directly after the crisis.

 

[ajoknoblauch]

I don't understand buying here at all. Not now, and not anytime that wasn't directly after the crisis.

Even during the crisis, we wouldn't have bought without a long-term commitment. We bought the place not because of speculation, but because we wanted it, and we're not worried about selling it in the future.

 

[PhilipDT]

Even during the crisis, we wouldn't have bought without a long-term commitment. We bought the place not because of speculation, but because we wanted it, and we're not worried about selling it in the future.

You're not worried about resale, so why not rent?

 

[Chet]

I am putting my house in Villa Crespo on the market now if anyone is interested, 5 bedrooms, one block outside Palermo Soho, works great as a residency renting out rooms, gets almost 100% occupancy.. it's a Ph so no expenses.. Excellent rental yield. if interested for more info send me a message!

Ph?

 

[ajoknoblauch]

You're not worried about resale, so why not rent?

Why don't we rent? Why should we? We like having a place we can return to whenever we like. We do rent it out short term, and that's helped it pay for itself.

 

[Girino]

Ph?

Propiedad horizontal = on one level

 

[steveinbsas]

I don't understand buying here at all. Not now, and not anytime that wasn't directly after the crisis.

I wasn't here immediately after the crisis but I started apartment hunting as soon as I arrived in May of 2006. A few expats were already saying it was "too late" then as prices had increased dramatically in 2004 and 2005. It was impossible to know for certain. Perhaps those who bought in 2002 knew that they bought at "the bottom" but it was impossible to know how much higher prices would climb. It's easy to look back today and regret not buying more property at the time, but if prices had crashed in late 2008 and returned to anywhere near "post crisis" levels (as a few expats predicted) they wouldn't be looking back now with the same attitude.

I bought in an apartment in Recoleta in October of 2006 and sold it in July of 2009, after putting it on the market in Novemeber of 2008. it was not an easy time to sell, but prices did not drop. I didn't make a profit on the sale but I saved about $35,000 USD by not renting for the 44 months i owned the place (figuring $800 a month for a two bedroom furnished apartment on Aranales in Recoleta with an elevator and a portero). The rising monthly expenses was one of the reasons I sold the apartment. I then bought a PH in Nunez. It didn't have expenses, but it didn't have any outside property or even a view. I sold it a year later, arriving at my present location four years ago today, after saving another $8,000 or so in rent and expenses for the last year I lived in Capital Federal.

I sold the PH too quickly to make a profit but I did so in order to get out of the city and to live in a detached house with lots of trees and about 10,000 sq. meters of land. If I had paid rent for the four years I lived in BA I would not have had anywhere near enough money to buy it.

 

[PhilipDT]

I didn't make a profit on the sale but I saved about $35,000 USD by not renting for the 44 months i owned the place (figuring $800 a month for a two bedroom furnished apartment on Aranales in Recoleta with an elevator and a portero).

"saved money on rent" That's a first for me, I've never heard that before when talking about buying a house. What about the opportunity cost?

 

[PhilipDT]

Propiedad horizontal= on one level

That's not what it means. Did you read your own link?

PH does indeed mean propiedad horizontal but in common use refers to different apartments built on the same lot but which do not have administrations or porteros or the associated fees.

Legally as your wikipedia article mentions it means any properties which share the same lot and are accessed by a common hall, which includes pretty much every single apartment building.