Buying With Your Head, Not Your Heart
There were some great comments today about why buying in Palermo or some other neighborhood might be a better option than Recoleta. In fact, I saw an apartment today that was in Palermo and I actually liked the neighborhood there a lot better than Recoleta -- it was quieter, just a couple blocks from some of the great parks on Libertador, and much more private that any of the apartments in Recoleta.
However, I'm buying with my head, not my heart. With an apartment in Recoleta that's suitable for rentals, I open myself up to a lot more options. Should I could leave Argentina for 6 months to go traveling or decide I only want to live here part of the year, I can be assured that the apartment will be generating income for me when I'm abroad.
Even though I plan on staying in Argentina for the next couple years, I have no idea where I'll end up after that. I'm a person who likes to have the flexibility to move around at a moment's notice without being tied down. An apartment in Recoleta gives me a chance to have a good (not great) place to live when I'm here, but it also lets me leave at a moment's notice and allow the apartment to start generating significant income.
Should I want to take a 2 month vacation in Europe, I just lock-up my personal belongings in a specific closet and then open up the apartment for rental use. I saw the same thing done when I rented a condo in Hawaii for a few weeks. The couple that owned it furnished it with very nice things that they shared with guest visitors when they weren't using their condo. They had a specific closet that was locked that guests couldn't get into that had their various personal belongings, but otherwise the condo was easily available for rental use.