Properties are affordable in Cochabamba. You can find rural properties, quintas (country homes), houses, apartments, condominiums, hotel and timeshare properties, and office spaces for sale, rent and anticrético (this option is not available in the U.S.)
Because real estate is immovable, properties (usually called propiedades) are also frequently called propiedades "inmuebles". Conversely, furnishings (which are moveable property) are called "muebles". Therefore, real estate agents are called "agentes inmobiliarios". Their companies are called "inmobiliarias".
Another word for real estate is "bienes raíces" (literally translated as "rooted belongings", again because they are immovable) and agents sometimes are called "agentes de bienes raíces". When you purchase or sell property you must register and pay taxes to the government by going to the department of "derechos reales" (property ownership rights) to record your transaction.
Real estate agents who sell a property will charge the property owner a commission to do so. If they are helping a buyer purchase a property, the buyer pays them a one-time commission. And unlike in the U.S. if you use a real estate agent to help you find a rental property YOU THE RENTER will also pay a commission for this assistance, usually equal to a percentage of one month's rent.
CONTRACTS: There are numerous types and qualities of housing available in Cochabamba, and several types of contracts you can enter into. You can rent or purchase an apartment, condominium or home just as you would anywhere else in the world, but there is also another very interesting (and potentially free) way to contract for housing called “anticrético”. There are some very important things you should know before you decide which type of housing to acquire and which type of agreement to enter into.
REAL ESTATE AGENTS: For a one-time finder’s fee, you can contract an “inmobiliaria” to find you a suitable home or apartment for rent or purchase, based on basic information you provide. Inform them of which area you prefer to live in, the size of home you want, how much you are willing to pay, which amenities you need, schools you are interested in for your kids, etc. Most inmobiliarias will schedule appointments to show you homes and apartments and will charge a one-time fee once you sign a rental or purchase contract. In Cochabamba, the renter or purchaser pays the fee, not the seller or landlord.
SERVICES: Prior to choosing a home, you should be informed concerning all the basic services available in the area. Be sure to ask about the availability of electricity, water, sewer lines, phone, cable and internet services, and trash pick-up. These services are not available in all areas of major cities, and are even more lacking in rural areas. Often new homeowners (and sometimes even renters) must pay to put in phone lines, electric cabling, or sewer and water mains themselves. If you plan to have a gas stove and oven, be sure to ask about the availability of gas delivery in your area as well.
APPLIANCES: You should also be aware that many homes rented or sold do not contain some appliances you might assume are included, such as stoves and ovens, refrigerators, water heaters, washers and dryers, air conditioning units or heaters. Most homes are offered completely stripped and the new renter or owner is responsible for all furnishing and appliances. There are, of course, some exceptions to this. If you specifically requested a furnished home, it will likely contain kitchen appliances, but not a washer or dryer, nor air conditioning or heating, so always be sure to ask. Don’t assume all homes have water heaters. It is the one appliance you should never forget to ask about.
THE LAUNDRY: Don’t assume the home will have a laundry area. Be sure to ask if there are washer hook-ups. Many homes do not, as usually the housekeeper will wash a family’s clothing by hand and hang them out in the sun to dry. If you don’t plan to own a dryer, you may want to consider hanging clothesline in an extra interior or exterior space. Due to the dryness of Cochabamba, clothing will dry quickly regardless of where you hang it.
AIR CONDITIONING: Few homes have air conditioning due to the wonderful climate of Cochabamba. Central air conditioning and heating are almost completely unheard of. Wall or window air conditioning units are much more common and can be purchased in many home appliance stores.
CARPETING: Very few homes have carpeting. Because of the powdery dirt in the air, expecially during the dry season (winter), most floors are made of ceramic tiles or wood/parquet flooring because these are easier to keep clean (a mop is all you need). During the 2-3 cold winter months in, many simply extend rugs or mats throughout the house.
30-DAY CLAUSE:Over time, more and more homes and apartments are being built and offered with all amenities included. However, you should always be sure to ask about these issues prior to making a final decision. This is especially important if you plan to purchase a home. Most rental contracts are for 12 months or more. Contracts for 6 or 9 months, which are common in the U.S., are practically unheard of. Be sure any contract you enter into contains a 30-day notice clause, allowing you to move out before your contract ends without having to pay off the remaining months, if you give a 30-day written notice. Most homeowners who rent to foreigners will accept this clause. Most contain a 30-day notice renewal clause anyway, but this is not the same as a 30-day early termination clause.
NANNIES AND COOKS:If you plan to have a live-in housekeeper or nanny (this is common in Bolivia), be sure to ask if the apartment or home has additional living quarters for them. Most houses and even apartments do have what is called a “dependencia”. This is usually a very small room with its own bathroom and shower at the rear of the house that is completely separated from the home. If located within the home, it is usually behind or near the kitchen. At the very least, if you don’t hire a live-in housekeeper or nanny, this can serve as additional storage space, or a room to sort laundry or iron clothing.
MAINTENANCE/GARDENING: Of course if you purchase you’re a house you will be responsible for maintenance and gardening. However, if you rent or purchase an apartment or condominium, gardening and maintenance of the common areas are usually handled through the homeowner’s association and residents pay a monthly fee. Be aware that most apartment buildings are operated like condominia. All apartments are individually owned, so any maintenance you may need inside your unit, will be your responsibility if you own it, and your landlord’s if you rent. Usually you can find a good gardener by simply asking for a referral from your neighbors. Very few homeowners or renters do their own gardening. Maintenance people (plumbers, electricians, repairmen) are best contracted through a personal referral. All will require you pay them in cash. Most make their living on a day to day basis and are unable to give you credit and do not issue invoices.
WALLS: You'll notice most homes in Bolivia are surrounded by high walls. This is of course for security; however, Bolivians are also very private about their family matters and would probably prefer walled-in homes even if security were not an issue.
SWIMMING POOLS: If you can rent a home with a swimming pool, you'll probably use it frequently, but only if you have a heated pool. There are several reliable and comfortably affordable pool cleaning services or you can buy all the pool cleaning supplies you need and do it yourself
BUILDING ONTO A RENTED HOME: As anywhere else, if you plan to do some interior decorating, additions, or building onto a home you rent, you need written authorization from the owners. You should discuss this point BEFORE you sign a contract to avoid disputes later; however, if you didn't, you must respect their decision as you'll have to return the home to them in the same condition as when you first moved in.
