In previous issues of Escape From America Magazine we detailed some amazing properties you can buy overseas for $150,000 or less and then what you can buy on an even lower budget of $100,000 or less. This week, part 3 of our 4 part series, we are going to show you what a budget of $75,000 will buy. We looked for homes that were ready to move in to, or needed very little in the way of renovation. Instead of providing the links to the properties featured in this article we are listing them on a separate newsletter which is free and easy to subscribe to. This is so that we can keep you up to date with properties in a price bracket that suits your pocket. Subscription details are given at the end of the article.
Read on …….
The global financial crisis has left us all strapped for cash: a recent survey complied by HSBC Bank International delved into the lives of expats living in 50 different nations, it revealed that across the board expatriates are facing higher living costs and lower salaries. Having said that, when asked if the recession was a reason to give up their new life abroad, a resounding ‘no’ was returned by 85% of all those expats questioned.
So it seems that even if money’s tighter now, those living abroad are still managing to enjoy their new life so much that they will not give it up! If you’re also strapped for cash but would still like to escape overseas, what can a limited budget of say $75,000 buy you in the way of a new home from home abroad? We thought we’d go on a journey around the globe with just $75,000 in our pocket and see what real estate bargains we could bag for you.
Whether you have a budget in mind for a second home in the sun, you’re looking for a good, solid investment in real estate or you just want to escape to a new life overseas, here’s what your $75,000 could buy you around the world.
Note: property details including prices are based on those listed by the vendors and agents we consulted, and exchange rates are based on those on the 4th of November 2009.
Real Estate in Asia on a Budget of $75,000
A question often asked is, ‘is Turkey in Asia or Europe?’ and the answer is that it is a Eurasian nation, the vast majority of which is geographically located in Asia. Politically and economically speaking Turkey may be considered more European, but when it comes to bagging a bargain property, who cares whether Turkey is an Asian or a European nation because Turkey simply offers some stunning deals – whether you’re looking for a home abroad, a holiday home in the sun or a real estate investment opportunity. The vast majority of tourism activity in Turkey is located in Istanbul or along its massive southern coastline – and it’s in stunning locations along this coastline that you will find the best bargain properties for sale.
On the Aegean Coast in the beautiful and highly popular resort town of Altinkum there is a resale apartment for sale that’s ready for immediate occupancy. The property has 2 bedrooms, it’s being sold fully furnished by the vendor and is close both to the Blue Flag beach and the town’s centre. The immaculate apartment is on the market for just $72,710 and is within a small development that has its own communal pool.
More typically Asian than Turkey is perhaps Malaysia, so how about a partially furnished condominium for sale in Kuala Lumpur for $74,541 instead? Located within walking distance of the globally respected International Medical University, this apartment has 3 bedrooms, 2 bathrooms, it’s spacious and set within a complex that features a cafeteria, club house, covered parking, a gym, jogging track, mini supermarket, a nursery, squash courts, a swimming pool and 24hr security. Because of its ideal location near the university and also a main train station, this property could be a great buy to let opportunity.
Buying a Home in Africa for $75,000
The continent of Africa offers such a vast choice when it comes to real estate options because it is blessed with so many diverse nations – from Tunisia in the North to Madagasgar in the South, or even the Cape Verde Islands far out west, where would you like to live? How about on Tunisia’s Gold Coast? A brand new development is taking shape close to the exclusive resort of Port El Kantaoui, the Dunes Golf & Spa Resort is a beach side development offering world class onsite facilities from a Thallasso Spa including an indoor swimming pool, Turkish baths, a sauna, gymnasium and beauty & massage treatment rooms, to 24hr security, concierge services, a restaurant, snack bar, supermarket, bank, bakery and a rental management company. Rental income is said to be very high in this region due to the strength of the local, neighbouring and European markets, ensuring that yields can be up to 10% to 14% per year – so a property in this location could be a good investment. 1 bed, 1 bath apartments are being sold off plan from $65,261.
In Cape Verde the market is more established if you want either a rental property or a second home in year round sunshine – studio apartments are available for sale from $50,000 for example. But what about buying a marina berth so that you can moor your yacht when you’re sailing the Atlantic Ocean? At Mindelo Marina on the island of San Vicente you can purchase a 15 year lease on a highly sought after berth for up to a 48 foot yacht for just $59,504. The marina is able to host more than 120 boats, up to 30m in length. All the facilities one expects of a state-of-the-art marina are available onsite and there is even a bistro.
Exploring North American Real Estate with just $75,000
Forming the southern tip of North America, Mexico should not be overlooked by those in search of a bargain and who don’t want to travel too far from home. In Cancun there is an incredible bargain of a property for sale for bang on the money at $75,000. It’s a fully furnished studio apartment billed as having a million dollar view! Right on the beach, this studio is within an older development and yet it is immaculate. You cannot buy property this close to the beach for so little money anymore, so go with the older style development and realise that your $75,000 investment could see you returning up to $100 a night in room rental rates! The property is small as it’s a studio apartment, but it is more spacious than a hotel room and its balcony juts straight out over the Caribbean! Onsite there’s a pool – although why use that when the Caribbean is probably less walking distance – tennis courts, security and what’s more, the development is right within walking distance of all the entertainment action available in downtown Cancun.
South America’s Real Estate Bargains for Sale for $75,000
To beat the Cancun bargain we’ve had to head a bit further from home – but I think you’ll agree we’ve done well! We’ve found a 5 bedroom, 2 bathroom house with incredible mountain views for sale for just $70,000 on the outskirts of Alajuela in Costa Rica. This property needs a thorough update in terms of its décor – even though it was only constructed in 2002 – but structurally it would appear to be sound, and the vendors assure us that the area the property is located in is quiet and safe. If you’re looking to move abroad and live a new life in an exciting new country, this could well be your ideal choice. The property is spacious, it’s set within a beautiful part of an astoundingly stunning nation, and it is a bargain at less than our budget of $75,000.
If you prefer beach living instead, how about considering Brazil as a destination for your real estate dollars? For $69,500 there is a large one-bedroom apartment currently for sale at the Fountains Resort, which is an exclusive development of sea view apartments set on fantastic beachfront land in Praia Das Fontes. The development is set in lush Thai style gardens and the theme of water is well illustrated through the extensive pools and water features that form central focal points throughout the development. The apartment for sale is available off plan with a 33% deposit down and with 24 months over which you have to find the balance. Once completed this property could be your holiday home abroad or it could form part of an investment portfolio for you.
Can You Buy Real Estate in Europe for $75,000?
Europe possibly features some of the most expensive nations when it comes to property – but never fear, your $75,000 will stretch to a property in Portugal for example, or a property in Sweden too. In Portugal you can buy a small village property for $66,780 and renovate it, turning it into a stunning retreat. The house is situated in the Leiria region of Portugal, about 5 miles from the sea. The asking price is apparently negotiable, so bearing in mind that you will have to totally renovate this property to make it home, ensure you put your bargaining hat on if you decide to discuss terms with the vendor.
If you fancy a less touristy destination in Europe then what about Sweden where there is plenty of choice for affordable property, such as a beautiful and totally typical Swedish house with 4 bedrooms that’s also on the market for just $66,780? The property comes with plenty of land that you can either have your own horses on or which you can rent out to local farmers for profit. According to the vendor you will be visited regularly by elk and the asking price includes membership for you at the local village sauna!
What’s for Sale in Australia for $75,000?
If Sweden is too cold for you then consider Australia – where sunshine is guaranteed practically all year round in many states, particularly in Queensland where we’ve found a totally unique home for sale. For $75,404 you can buy an alternative style house that consists of a 1964 ex-Melbourne bus as the kitchen, a 1969 ex-Brisbane bus as the lounge, then there’s a 16 foot caravan that serves as the adjoining en suite for bedrooms housed in 40 ft and 22 ft caravans. There is an office, further bathrooms and a massive outdoor living area which is shaded with large canopies. There is solar and generator power and apparently there’s a lot of fallen iron bark wood for firewood. The property has caves, a fishpond and a courtyard and the owners advise that theirs is a home that has to be seen to be appreciated!
Whether you’re thinking of buying an investment property in Portugal or a new home in Costa Rica, a buy to let in Malaysia or a holiday home in Tunisia, it is essential to get good legal advice before you even enter into negotiations to buy real estate. Ensure you understand your rights as a foreign buyer in a given land, and that you fully explore how the buying process should work. Ultimately make sure you have qualified and independent legal representation, and that you tread carefully when it comes to your real estate dollars at home or abroad.
For details on the properties featured in this article subscribe to the Expat Daily News Newsletter – check the list titled International Real Estate for Less than $75,000. Subscription is free, it is easy to unsubscribe and we do not spam or sell email addresses to third parties.
Check back next week to see what you can buy for less than $50,000
About the author: Susan Beverley is a writer and editor for Escape From America Magazine and also writes for and maintains Expat Daily News – the expat news blog for EscapeArtist.com. She traveled extensively before becoming an expat herself having found a place to call home in South America where she has lived for the last five years. She understands the concerns, needs and difficulties that expats face from first-hand experience and is dedicated to supporting and encouraging anyone who is looking for a new nation to call home.