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Real Estate in Flores, Guatemala | Digital Nomad Exchange
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Real Estate in Flores, Guatemala

By Joshua Wood, LPC

Last updated on Sep 08, 2024

Summary: Expats and retirees talk about real estate in Flores, Guatemala? How do you find a home in Flores? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Flores?

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

"Finding a place to live in Flores, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a simple room in a shared house to a luxury apartment or a standalone house. Next, you should research the different neighborhoods in Flores to find one that suits your lifestyle and preferences. Some areas might be closer to amenities like shops and restaurants, while others might offer more peace and quiet. 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 rental listings, such as Airbnb, Booking.com, and local real estate websites. These platforms allow you to filter results based on your preferences, and you can often view photos and read reviews from previous tenants. Another option is to hire a local real estate agent. They can help you navigate the local rental market, arrange viewings, and negotiate contracts. This can be particularly helpful if you're not fluent in Spanish, as they can communicate with landlords on your behalf. You could also consider staying in a hotel or guesthouse initially, and then look for a more permanent place once you're in Flores. This gives you the opportunity to get a feel for the city and its neighborhoods before committing to a long-term rental. Finally, always make sure to view a property in person before signing a contract. This allows you to check the condition of the property, ask any questions, and ensure that it meets your expectations," remarked one member in Flores.

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

"Expat homes or apartments in Flores, are typically located in safe and secure neighborhoods. They often feature a blend of traditional Guatemalan architecture and modern amenities. Many homes have spacious living areas, fully equipped kitchens, and multiple bedrooms and bathrooms. Some may also have outdoor spaces such as patios or balconies, offering stunning views of the surrounding landscapes, including the lake and the city. The homes are usually furnished, with comfortable furniture and decor that reflects the local culture. They often come with services like housekeeping and maintenance. The homes are usually located close to local markets, restaurants, and other amenities, making it convenient for expats. Some of these homes may also have access to shared amenities like swimming pools, gyms, and communal gardens," said one expat who made the move to Flores.

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What is the average cost of housing in Flores?

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

"The average cost of housing in Flores can vary greatly depending on the type and size of the property. For a one-bedroom apartment in the city center, the monthly rent can be quite affordable. However, for larger properties or houses, the cost can be significantly higher. If you're looking to buy property, the price per square meter can also fluctuate based on location and the condition of the property. Overall, compared to many Western countries, the cost of housing in Flores, Guatemala is generally considered to be relatively low," remarked one foreigner who made the move to Flores.

Should I buy or rent a home in Flores?

If you have not spent a lot of time in Flores, 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 Flores, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Flores for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could potentially provide a return on investment if property values increase. On the other hand, renting might be a better option if you're not planning to stay in Flores for a long period. Renting provides more flexibility, as you can move more easily if your circumstances change. It also means you won't have to worry about property maintenance or unexpected repair costs, as these are typically covered by the landlord. It's also important to consider the local real estate market in Flores. If property prices are high and predicted to fall, it might be better to rent for a while and wait for prices to drop before buying. Conversely, if prices are low and predicted to rise, it could be a good time to buy. Lastly, consider your financial situation. Buying a home requires a significant upfront cost for the down payment, closing costs, and other fees. If you don't have enough savings to cover these costs, renting might be a more feasible option. In conclusion, both buying and renting have their pros and cons, and the best choice depends on your individual circumstances and goals. It's recommended to seek advice from a real estate professional or financial advisor before making a decision," explained one expat living in Flores, Guatemala.

About the Author

Joshua Wood Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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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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