Beginning The Apartment Search
Now that I've settled in and been here about two weeks, I'm starting the process of looking for an apartment to buy. Since I wasn't able to get the kind of loan I wanted, I'll be looking for a place that's a little smaller than I normally would have purchased.
Since I may only live in Buenos Aires for a few years, I wanted to make sure that the purchase I make is also a good move financially. This means that when I'm done with the apartment, I want to be able to rent it out or sell it at a profit.
Yesterday, I met with Michael Koh of ApartmentsBA, one of the biggest apartment rental companies here in Buenos Aires. He gave me some great advice about where to buy a place, to ensure that it makes money as a rental and also has a chance for some capital appreciation. It comes down to one word -- Recoleta. According to Mike, 85% of all tourists request an apartment in the Recoleta area. So, if you want to be able to rent out the apartment, you pretty much have to buy it in the Recoleta area.
So, today I start my search for an apartment here in Recoleta. I'll keep everyone updated with how it goes.