Buying or renting? What is the best option for investment in 2022 and beyond?

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It may seem like a dream come true-finally being able to live on a tropical island in the middle of the Caribbean; spending your weekends sipping mimosas on the beach and knowing that the freedom you have isn’t just a fleeting feeling. This beautiful island home to endless sandy beaches and vibrant culture is now your home too. But when it comes to settling in, finding a place to stay is something that takes more than a search on the Airbnb app.

Many decisions must be thought through and many delicate processes to consider. One of these intricate decisions is whether to rent or buy a house. In this article, we will aim to uncover all the differences between the two and shine a light on which option may be better for your relocation journey to Antigua.

Buying Vs Renting- Factors to consider

Before making your decisions, you must consider all aspects of your plans and situations. The number one point to note is that renting does not give ownership. Here are some of the main factors to consider when making your decision.

Buying Vs Renting

Overall plans

Before you make any decisions, there are a few questions you must ask yourself, one of which is “why?” When making a real estate investment, you must take into consideration your reasons for doing so and your overall plans. Here are some questions you should ask yourself:

  • How long are you planning to stay? If you are a digital nomad, then the rental property is the way to go. There are several accommodation options for remote workers, and you can read about these in our article about real estate options for digital nomads.

Antigua and Barbuda’s Digital nomad program offers temporary residence for up to two years for those who don’t intend to make it permanent. But if you want to obtain citizenship, there is always the option of doing so via investing in real estate properties.

  • Do you plan to make a profit from your property? Another main part of your plans that you need to examine is whether you intend to use your property for profits. Think about your business plans. Do you intend to start a small business? Do you intend to rent out your home at some point? It is important to note that while renting may be the best option for commercial properties, it may not be best for residential spaces.

Current lifestyle

Where are you currently in your life? After assessing your short- and long-term goals, are you confident enough that you are ready to purchase a property? And if you’re thinking of renting, would that be the most financially efficient decision? The main financial considerations when buying a house are:

  • Overall cost
  • Down Payment.
  • Property taxes/Interest Rate
  • Closing Costs
  • Your Credit Score
  • Your Debt-to-Income Ratio
  • Homeowners Insurance


Your budget is a key part of making any financial decision. By examining all your current obligations and future, you will be able to conclude whether renting or buying is best for you. You can start by comparing your debt-to-income ratio to the net and additional costs of the properties you are interested in. For buying, there may be things restricting you such as the down payment and property taxes. Also, in some cases a loan may be required to obtain the property, meaning you must further analyze your budget.

If you are planning to purchase property in Antigua, we can assist you with banking processes. Relocate Antigua experts will guide you through opening an account in Antigua and anything else you may need. Give us a call today!

Make a budget first

Mortgage and rental rates of the area

Lastly, consider the general costs of property in the area you are looking whether for renting or buying. You can consult with a professional real estate agent to assist you with this. In addition to looking at the costs, you must also look at the features of the properties to help you make your decision. For example, you may want to live in a certain area but due to the high rent prices there, buying may be the more efficient decision.

For information on buying property in Antigua and Barbuda, check out this article.

Buying Pros and cons

Investing in anything is a risk, but if you go about, it the right way, the benefits will outweigh the risks. When it comes to buying, there are several things to take into consideration. You must also be aware of the advantages and disadvantages. Here are some of the major pros and cons of buying property:


Build wealth

Owning property is one of the easiest and best ways to build equity especially if you purchase residential property. Think about it as investing in yourself. Home equity is defined as the actual amount of your home that is yours. It is the difference between what your home is worth and what you owe in mortgage and is built as you reduce the balance of your loan. Furthermore, as you make mortgage payments your credit will improve allowing for future investments. You will find that you can save money better since mortgage payments are fixed. Property value increases over time so you can always make a profit by selling it in the future.

Citizenship by Property Investment

Some countries offer citizenship in exchange for investing in real estate. If you meet the given requirements, you can enjoy the freedom that comes with dual citizenship. Antigua and Barbuda have one of the best citizenship programs and offer great benefits for families. Read more about this here and contact us for further information.


Financial responsibility

Being a house owner means that all the responsibilities are in your hands such as property management and maintenance and repairs. For older houses. The cost for repairs and maintenance will be higher as more initial renovation will be required. If you are investing in an old property to rent or resell, then be prepared for extreme renovations.

More complex processes

Buying a property isn’t as simple as signing a lease and moving in. There are many complex processes than renting including:

  • Acquiring licenses
  • Hiring lawyers
  • Acquiring funds
  • Paying property taxes

Renting vs Buying

Renting Pros and Cons  

Renting may be the best option if you are not quite ready to settle down or if you do not have the funding required for upfront costs that come with purchasing real estate.


Lower costs

This is by far the biggest advantage of renting, considering that monthly rental rates are lower than mortgages. In addition, there are no property taxes, homeowners insurance, and maintenance and repair costs. While renting, you can channel the money you save into other investments.


Renting allows you to have the freedom and flexibility that you won’t normally have if you own a home. You can move to another place and travel if you need to without having to worry about property management or fixed mortgages. There are several types of leases that cater to different needs- Short leases offer freedom and affordability for digital nomads and visitors, while longer leases offer more income consistency for those who are relocating but aren’t quite ready to buy a home.


No Equity

No ownership means that you won’t be able to gain equity or any profits. Additionally, you won’t profit from tax benefits and can be evicted at any time.

Rent prices fluctuate

Landlords have the power to raise or lower rent. This is more of a disadvantage as prices are more likely to raise due to renovations or market fluctuations. Rental estate agents can assist you in finding the right place to stay.

The landlord has the final say

When you rent, you have to accept that the landlord always has the final say. Some properties may not allow pets, personal renovations such as additions and paintings, and you may have to seek permission for something as simple as starting a garden.


So, is it better to rent or buy a property? The easy answer is whichever one works best for you. You can figure it out by taking into consideration all of the pros and cons of renting or buying and examining all the aspects that will influence your decision.

If you are interested in relocating to a breathtaking island such as Antigua and Barbuda, property investment will allow you to reap all the benefits that come with dual citizenship all while becoming a new homeowner. There are many options including villas and homes in gated communities in Antigua. You can read more about this in our guide to buying property in Antigua.

If digital nomadism is your intention, you can find out more about accommodation options in this article.

Whether you want to find luxury homes for sale in Antigua and Barbuda or learn about Antigua property sales tax, Relocate Antigua experts will be there to assist you along the way. Get in touch with us today.

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