In Colombia, the legal minimum monthly wage (SMMLV) is $980,803, and many families rely on it throughout the entire year. At Mendebal, we want to show you how to make a decision that benefits your future while taking care of your budget.

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Benefits of Buying a Home vs. Renting:

• Heritage: When you buy a property, you build family wealth, unlike renting, where the property remains with the landlord.
• Economic Stability: Owning a property allows you to rent it out if you don’t want to live there, providing a steady source of income.
• Credit: The monthly installment of a mortgage is often lower than a rental payment.
• Renovations: As a homeowner, you can make internal and external changes to suit your tastes and needs—something you can’t do in a rented property.
• Appreciation: Unlike a car or other material goods, real estate increases in value over time, making it a smart investment.
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Regarding appreciation, this refers to the increase in price per square meter from the moment the property is officially registered. In other words, it’s the profit you can earn over time compared to the initial value.

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Key factors for choosing a property with high appreciation potential:

• Location and Surroundings: These are essential for ensuring future value growth.
• Consider the following aspects of the neighborhood:
  • Upcoming developments around the property
  • Roads and general mobility
  • Public transportation access
  • Commerce: supermarkets, bakeries, stores, pharmacies, etc.
  • Schools
  • Green spaces
  • Recreational areas: libraries, shopping centers, cinemas, parks, etc.

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The real estate market, like any other, is governed by supply and demand. A well-located project is one where many people want to invest because they see its future potential. Investing early maximizes your property’s appreciation.

Long-term investment: Real estate is a smart long-term investment. When construction costs rise, property values also increase, benefiting those who bought early. When the price of new housing rises, older properties also gain value.

Type of Construction: For many, this factor may not be decisive. Both traditional and structural systems are safe and reliable. However, some prefer traditional construction because it allows for renovations, removing walls, or expanding spaces, which can further increase the property’s value.

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We invite you to learn more on our website www.mendebal.com and stop paying rent to finally own your dream home.

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