As the middle of the year approaches and the economic outlook becomes more stable, Colombians’ desire to purchase their own home is on the rise.

According to Fedelonjas, nearly 17 million Colombians live in rental housing—more than 30% of the country’s population—which is why Home Capital Outlet encourages building a legacy through 2023. And the reason is simple:
“It is always a good time to invest in real estate, even during periods of high inflation, because it is the only asset that does not tend to depreciate. Therefore, it is considered a safe long-term refuge or an asset that generates income against inflation and PROTECTS YOUR INVESTMENT.”

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On average, a person in socioeconomic strata 2 and 3 may spend around COP $1,450,000 per month on rent in Bogotá, COP $1,300,000 in Medellín, and COP $1,200,000 in Barranquilla. While costs vary depending on the property’s specifications, the amount of money spent on rent is significant—money that could instead be invested in a home of your own, increasing your equity. Best of all, you can leverage financing options from various banks to help make your dream a reality.

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It’s time to change your mindset and stop wasting money for nothing! This is what we call financial education and smart investing.

Below, we present an example from Revista Empresarial highlighting the economic benefit that STOPPING RENT PAYMENTS could bring to your life:

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If you live in a rental, 100% of the rent you pay is an expense that brings no future benefit—meaning your family will continue without building any equity. The opposite happens when paying a mortgage installment: even if it may be slightly higher each month than rent, part of that payment gradually reduces the loan’s principal. At the end of a 20-year loan term, not only will your family own 100% of the property’s original purchase price from 20 years ago, but also 100% of its appreciation over those 20 years.

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Now, if we take this to a practical money example—assuming a constant and conservative annual appreciation of 5%—a property purchased on January 1, 2023, for 100 million pesos could be sold for over 250 million pesos in 20 years.

As a result, we can conclude that the family who rented during that time would end up with no assets at all, while the family who chose to buy a home would, in those same 20 years, have zero debt and an asset worth 250 million pesos.

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This is a simple example that reflects the wisdom our grandparents taught us:

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“Owning a home is not wealth, but not owning one is indeed poverty.”

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Now that you know the benefits of owning your own apartment, it’s time to take the step! Stop paying for someone else’s dreams and start building your own.

We invite you to explore our available projects by CLICKING HERE: https://www.mendebal.com/sala-de-ventas-online-mendebal/ or send us a message via WhatsApp so we can guide you toward the home you and your family deserve.

Join the #MendebalFamily today!

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