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Real Estate in Manizales, Colombia | Digital Nomad Exchange
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Real Estate in Manizales, Colombia

By Betsy Burlingame

Last updated on Jan 08, 2024

Summary: People living in Manizales, Colombia offer advice about real estate. How do you find a home in Manizales? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Manizales?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Manizales involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a shared apartment to a private house. Next, you should research the different neighborhoods in Manizales to find one that suits your lifestyle and preferences. Some popular neighborhoods include El Cable, Palermo, and La Estrella. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rentals in Manizales, such as Airbnb, Booking.com, and local real estate websites like FincaRaiz and MetroCuadrado. You can also contact local real estate agencies directly. They can provide you with listings that match your criteria and arrange viewings. Another option is to look for listings in local newspapers or on bulletin boards in community centers or supermarkets. When you find a place you're interested in, make sure to visit it in person before making any commitments. Check the condition of the property, ask about any additional costs such as utilities or maintenance fees, and try to meet the landlord or property manager if possible. Finally, once you've found a place you're happy with, you'll need to sign a lease agreement. Make sure to read it carefully and understand all the terms before signing. If you're not fluent in Spanish, you might want to get help from a local friend or hire a translator to ensure you understand everything. Remember, finding a place to live can take some time, so it's a good idea to start your search well in advance of your move," said one person in Manizales.

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What is a typical expat home or apartment like in Manizales?

"A typical expat home or apartment in Manizales, is often located in a safe and secure neighborhood, with easy access to local amenities such as shops, restaurants, and public transportation. These homes are usually modern and well-maintained, featuring spacious living areas, fully equipped kitchens, and comfortable bedrooms. Many apartments offer stunning views of the surrounding mountains and cityscape. Some homes may come with additional amenities like a private garden, a swimming pool, or a rooftop terrace. The interiors are often tastefully decorated, with a blend of contemporary and traditional Colombian elements. Despite the high quality of these homes, the cost of living in Manizales is generally lower compared to other major cities, making it an attractive destination for expats," said one expat who made the move to Manizales.

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What is the average cost of housing in Manizales?

If you are thinking about moving to Manizales, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Manizales can vary greatly depending on the location and size of the property. For a one-bedroom apartment in the city center, the monthly rent can be quite affordable. If you're looking to buy, the price per square meter for an apartment in the city center is also relatively inexpensive compared to other major cities. However, prices can increase significantly for larger properties or those in more desirable locations. It's also worth noting that utility costs and condominium fees are typically additional expenses to consider," remarked one member in Manizales.

Should I buy or rent a home in Manizales?

If you have not spent a lot of time in Manizales, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Manizales, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Manizales for a long period, buying a home could be a good investment. Owning a home allows you to build equity over time and could provide financial stability in the future. On the other hand, if you're unsure about your long-term plans or if your job requires you to move frequently, renting might be a better option. Renting offers more flexibility and less financial commitment. It also allows you to avoid the costs and responsibilities that come with home ownership, such as maintenance and repairs. It's also important to consider the real estate market in Manizales. If property prices are high and continue to rise, buying a home could be a good investment. However, if prices are low or stagnant, renting might be more cost-effective. Lastly, consider your financial situation. Buying a home requires a significant upfront cost, including a down payment and closing costs. If you don't have enough savings, renting might be a more feasible option. However, if you can afford the upfront costs and the ongoing mortgage payments, buying a home could be a good long-term investment. In conclusion, the decision to buy or rent a home in Manizales, Colombia, depends on your personal circumstances, financial situation, and long-term plans. It's important to carefully consider all these factors before making a decision," explained one person living in Manizales, Colombia.

About the Author

Betsy Burlingame Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

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SJB Global

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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