Currently 20% of our home budget is spent on the rent of the girl’s home. Having our own home would reduce our costs significantly.
One of the most financially advantageous options in Bolivia is what is called an “Anticretico”. Interest rates for investment loans in Bolivia are extremely high and difficult to obtain. Homeowners will often offer their home or property as an Anticretico to raise capital to invest. With an Anticretico a tenant loans the owner of the property a set amount for a specific period of time. The property is secured against the loan. In return the tenant receives free rent. At the end of the agreed upon term the full amount of the loan is returned to the tenant. The term is usually extendable based on the approval of the tenant and owner. Many people and organizations use this method for their domicile.
For us this method would save us a significant amount monthly and provide us with a much more long term situation for the girls living there.