So – should you rent accommodation in the Canaries or buy a property? It’s a big decision and one worth really thinking about as there are valid arguments for both. But the good news is that the Canary Islands offer a fabulous selection of property, whether for sale or rent and the choice really is yours! So what are the pros and cons?
The idea of diving straight in and buying a property – apartment, villa, finca or whatever might suit your new lifestyle – is very attractive. It means that you have a permanent place to move into straight away and can get started with living your life abroad. What’s more, you’ll save money as you won’t be paying rent every week or month. Another reason is that it’s very much a buyer’s market at the moment. If you take a look around, the chances are you can get a real bargain. In fact, friends of ours recently took the opportunity to buy a property in one of the Canary Islands at a very good price. Although they have been living in the islands for several years, they have always rented apartments but now that they have a baby on the way, they wanted a place of their own, a place to call home.
Luckily, they found the perfect house for them as the owner wanted a quick sale and didn’t even want to get involved with moving the furniture and so was happy to include everything in price. That meant they got a fantastic house at a knock-down price, something they wouldn’t normally have been able to afford and with the furniture thrown in for free. Now they’ve just got the cot and baby things to buy for later in the year!
However, on the other hand, when it comes to renting accommodation it’s the ideal way if you are not sure where to live on the islands. It means you can take your time, look around and find out if the area (or island) is your sort of place. It’s also another way to bide your time until the right property comes up for sale.
When we came to the Canary Islands, we rented accommodation of various types for over 5 months and stayed on every single island. Not quite our initial intention I must admit! At the start of our search we rented apartments both in the north and south of Tenerife whilst looking at apartments with a view to buy. We then spent a few days in La Gomera before heading over to La Palma. I think we must have stayed in every type of accommodation from a pensión (room only) in the capital to apartments in the east and the west and finally a house. But that didn’t stop us heading over to the other islands too where we looked at places for sale. Eventually though, it was the country that stole our heart and living the good life on a finca, growing vegetables and keeping a few chickens. Which just goes to show that when you start a journey, you never quite know where you will end up!
But in our case, renting accommodation in all of the Canary Islands really stood us in good stead and allowed us to make an informed choice in the end. So whether you choose to buy or rent you have a fabulous choice out there. As they say in Spanish, Se Alquila/for rent or Se Vende/for sale!