How to buy property and move to Chile, FIRST STEP

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How to buy property and move to Chile, FIRST STEP

Postby admin » Sun Aug 12, 2012 12:27 pm

VISIT CHILE FIRST!!!!

Not sure why, after all these years, it never occurred to me to post this. It is repeated, over, and over, and over again on the forum in one form or another. It is the advice I give out for free in email, phone calls, private forum messages all the time, sometimes several times a week if not every day depending on the season. Just never occurred to me to post it on the forum.

So, here it is. I will now try to explain why I am posting it.

That single piece of advice, from what we have seen over the years, is worth about $30,000 to $250,000 on average in serious mistakes made by people planning to move to Chile. For a few, it would have been worth millions of dollars.

It seems obvious, but it is not. Every year we have a certain number of people just show up on our doorstep (literally sometimes with their entire family). Often they have sold everything, closed their bank accounts, quit their jobs, burned all their bridges behind them. Sometimes it does works out, but about 99.999999% of the time it results a total financial train-wreck when they discover they don't like Chile, or they bought in the wrong place, or whatever could have been figured out had they just visited Chile before jumping off the cliff.

So, don't even start looking for property before you have visited Chile, beyond some sort of vague survey of general prices around the country perhaps. Your wasting your time, and likely your money.

The ONLY people that should consider shopping for property without visiting Chile first, are pure play investors. They typically do not hang out on expat forums. Totally different category of real estate buyer, with totally different motives. Even those types, we recommend at least having a look around if possible before dumping some change in to Chile; but, they typically are not risking their entire net work or even a big portion on Chile. Their investors. It is just stocks and bonds to them, and they don't have to live on their investment in Chile.

We ( both as a forum collectively and privately as a Spencer Global ) can not even begin to help you, until you narrow down what you are after (and why you are after it).

I explain it this way to people on the phone a lot of times. People call me up and say something like, "can you help me buy a property in Chile"?

Well, yes and no. It is too vague. It is as vague as calling me up and saying you would like to buy a property on the west coast of North America, and asking how much will it cost. Northern Canada for instance is not the same as say Baja Mexico. They are very very different, and that would be totally obvious to most any of the people we talk to; but, when it comes to Chile, it is not for hundreds if not thousands of foreigners that have contacted us over the years.

There is likely thousands of threads on the forum with people taking a similar approach to Chile. Of course, many never get off the couch; but, more than a few do make the move.

Perhaps it is some sort of lack of geographic or cultural reference, but in any case, you MUST first establish some reference points to be able to buy property. Property requires geographical reference points. Not just in the GPS coordinates of the property lines, but the overall country and possibly continent too.

That also means finding cultural reference points. Living in small town in the South of Chile, is not like living in a small town in the United States or Europe. Living in Santiago, is not like living in New York or London. Living in a medium size city in Chile, is well, sometimes is neither here nor there.

So, get some reference points FIRST. Then you can start worrying about what things costs, is it a good deal, will my neighbours cow eat my tulips, and all that good real estate stuff.

The most fundamental question that you need to answer first: IS CHILE FOR YOU?

That is your cornerstone reference point by which all other points in Chile will be triangulated from.

In the grand context of spending 10's if not 100's of thousands of dollars to make the move to Chile, spend a couple thousand bucks a quick trip to check it out first. It will be the best money you will spend in Chile ever. The longer the exploratory trip the more you will learn, but even just a few days is better than nothing; that is especially essential, if you plan to do it with a family.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

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Re: How to buy property and move to Chile, FIRST STEP

Postby ExpatBob » Sat Aug 25, 2012 7:59 pm

He had good info on the mysterious vale vista for foreigners, however it lacked details on how that all played out. Apparently he was able to get a cuenta corriente opened at BBVA and somehow used that to obtain his vale vista.

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Re: How to buy property and move to Chile, FIRST STEP

Postby nwdiver » Sat Aug 25, 2012 8:20 pm

Well put Admin.
I would add as I have several times, IF you are going to live in Patagonia OR Santiago for a winter arrive in the fall and spend 4 months there, rent something along the lines of what you will eventually buy or build and see if Chile is for you. Spending 2 week on Chiloe in January and think wow THIS IS FOR ME, unless you come from Prince Rupert BC you have no clue, so spend the time before you spend the money and those that think an 8K winter is too expensive to “see if we like it” then you deserve to lose your 250k.

If you only are around for the summer then its a different story, carry on.
It's all about the wine.

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Re: How to buy property and move to Chile, FIRST STEP

Postby otravers » Mon Sep 03, 2012 8:25 pm

What's mysterious about vale vistas?? You don't need a cuenta corriente to use them, You just need a cuenta RUT/prima and a bank that a) knows what they're doing and b) is willing to help.

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Re: How to buy property and move to Chile, FIRST STEP

Postby ExpatBob » Mon Sep 03, 2012 11:27 pm

otravers wrote:What's mysterious about vale vistas?? You don't need a cuenta corriente to use them, You just need a cuenta RUT/prima and a bank that a) knows what they're doing and b) is willing to help.

A and B are hard to come by.


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