Last week in Escape From America Magazine we detailed some amazing properties you can buy overseas for $150,000 or less. This week, part 2 of our 4 part series, we are going to show you what a budget of $100,000 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 …….
Are you dreaming of escape? Would you like to leave your old life behind and go in search of an idyllic lifestyle abroad? Perhaps you’re approaching retirement and you’d like to find a cheaper cost of living overseas. Do you want to move abroad with your children to live and work in a country where the quality of life is better?
Do you dream of finding a home overseas that you can turn into a vacation retreat? Would you like to cash in on crashing markets in Europe maybe, and bag an investment property abroad? Whatever the reason you are looking for real estate bargains overseas, we have taken on the challenge to see if it is possible to purchase a dream home anywhere abroad for around $100,000 US dollars – read on to see where in the world your real estate dollars can buy you some stunning homes!
Note: property details including prices are based on those listed by the vendors and agents cited, and exchange rates are based on those on the 30th of October 2009.
What Can You Get in Asia for $100,000?
The Philippines is fast becoming a popular new destination for those looking abroad for an affordable home in one of Asia’s paradise locations. With prices for properties in Thailand having shot up, fuelled by tourism demand, properties in the Philippines offer an attractive alternative for those on a budget who want to buy in to a market where there is more potential for long-term growth. Experience International is offering fully furnished studio apartments for sale within the stunning Blue Coral Resort and Spa frontline beach development from $85,864.
These properties are ideal investment properties according to the developer, offering a 21% guaranteed gross income as well as up to 60% non-status financing. The properties are set within an exclusive development that will be run as a managed resort hotel backed by a major tour operator. The resort is situated on the high-end eastern side of Mactan Island, offering visitors tranquillity, beauty and a paradise island effect – yet the apartments are actually within easy reach of Cebu City and its international airport which is the second largest in the Philippines.
Therefore, you can apparently afford an investment property for sale in Asia for $100,000…
Alternatively, if you’d like to retire to Malaysia and benefit from the Malaysia My Second Home Programme whilst being within reach of popular expatriate employment destination Singapore, there’s a stunning condominium for sale at Danga Bay in Johor Bahru. The condo has a sea front location facing Singapore, it’s just 2 minutes from the Singapore Causeway and the 2nd Link and offers you 1,038 sq ft. of living space comprising 3 bedrooms, 2 bathrooms, a fitted kitchen and built-in wardrobes. It’s on a complex with a large swimming pool, a gym, sauna, 24 hours security and is within walking distance to Danga Bay Leisure Complex. The property is for sale by an expat owner for $93,636 and offers an exceptional buy for a professional individual or couple who want to move to the region to live, work or even retire.
Buying Property in Africa for $100,000
If you’re looking for a home abroad rather than an investment property such as the one featured above, what about a house on the Garden Route in the Western Cape of South Africa? This is one of the most sought after areas of this stunning and diverse nation because it has arguably the best climate. It boasts the best views, it is very civilised and cultured, home to Cape Town and traditionally one of the safer parts of the country. The property that we’ve found for sale is on the market for just $83,733 and it comprises of a 3 bed, 2 bath family home situated in a good area close to schools, churches and local amenities. As well as 3 bedrooms and 2 full bathrooms, there are 2 living areas and a kitchen with a breakfast nook, a scullery and a laundry room. Set in a neat and mature garden, this property does need modernisation – hence the low asking price – but because it is in such a sought after area, you could do it up, live in it or just pop it back on the market and perhaps realize a profit from your refurbishment efforts?
Looking elsewhere in South Africa, there is a 5 bedroom, 3 bathroom family home on the market in Muckleneuk, Pretoria close to the University of South Africa. It’s up for sale at auction which is quite common in South Africa – but the guide price is similar to the Garden Route home. Unlike the former property it’s ready to move in to but of course you can still put your own stamp on it after moving in. Both homes are being listed for sale by PrivateProperty.co.za
$100,000 Bargains in North America
If you don’t want to move too far from home but fancy spreading your wings across the border to Canada, how about a fractional ownership share in a modern, stylish condo in Mont Tremblant? This is one of Canada’s most exciting winter sports resorts – and it benefits from the fact that it has year round appeal with those who love the great outdoors. For just $92,640 you can buy 13 weeks a year in a property that comprises of 2 bedrooms and 2 bathroom in a development that’s just 100 feet from the gondola in Sommet des Neiges at the top of Mont Tremblant resort village.
The condo is on the 5th floor with mountain views, it has a fireplace, a terrace, a parking space and very spacious rooms. Amenities in this prime condo hotel include unbeatable ski-in, ski-out access, a grand lobby with fireplace and lounge areas, a fitness room and concierge service, activity room, library and internet kiosk, private year round personal ski locker, hot tub, sauna, pool, private lounge and kids and teens game rooms complete with pool tables. As world-class golf is also on your doorstep, this is a property that could give you a winter skiing holiday and a summer golf vacation!
Exploring South America’s Real Estate Market on $100,000
If you head south instead of north however, you have far more choice when it comes to spending your $100,000 of prime real estate cash. Starting off in Panama there’s a 2 bed, 1 bath apartment for sale for $82,000 in Panama City itself. This apartment is in a building located within walking distance of San Fernando Clinic and hospital, it has shops and restaurants within walking distance and Parque Omar is close by. The condo has a small outdoor terrace, a laundry area off the kitchen, above average finishes for this price tag and affords you great space for full or part-time living – but without the huge price tag!
In Belize you can get an entire house for $92,500 though – so you might prefer this. Located in the Santa Rita Heights area of Corozal Town, this 2 bed, 1 bath family home has a small swimming pool and it’s set in a mature and private garden. For sale by the owner, there is the option of limited owner financing, and the property is described as a perfect vacation retreat or a new home from home in Belize. The interior is immaculate and the views are typically tropical.
If you prefer to explore even further afield, what about Argentina? For $102,000 you can buy a 3 bedroom villa in the town of San Rafael in the wine growing region of Mendoza. A popular spot with expatriates from the US and Europe, Mendoza is an exceptionally beautiful part of Argentina. The home being offered for sale includes separate living and dining rooms, a large kitchen, 3 bedrooms, a beautiful and spacious garden with a barbecue area and a two-car garage. The villa is on a 520m2 plot in the town centre meaning that it is ideally located for a family who want to move to this nation and settle in to an already established community.
What Can Your Get for $100,000 in Europe?
If you would like to see what the dollar can buy in Europe, note that at the moment the dollar is particularly strong against the pound making it even possible to buy a property in the UK with your $100,000.
You might like to opt for a 3 bedroom terraced house for sale in Gainsborough in Lincolnshire for example. Situated in a popular area of the town, you’d be close to the town centre and all local amenities. The house features a sitting room, dining room, a fitted kitchen, downstairs bathroom, two bedrooms on the first floor and a third bedroom on the attic floor. The good thing about this home is that it is not in a chain so you don’t have to worry that your vendor has to find somewhere else to go and live – meaning you or your tenants could move in straightaway.
If you fancy somewhere a little more exciting in Europe than the UK, what about Italy? In the southern region of Calabria (which is the toe of the boot of Italy!), there is a fully furnished, 2 bedroom apartment for sale in the seaside town of Santa Maria del Cedro. The apartment is on the first floor of a small complex and consists of an entrance hall, open plan living room and kitchen, 2 bedrooms, a bathroom and the best bit is the terrace that has panoramic sea and mountain views. The complex on which this apartment is located has a swimming pool and there is even on site parking available. At just $95,792, this is a property you could move in to tomorrow, let out for profit immediately, or plan your forthcoming holidays in straight away!
How Far Will $100,000 Stretch in Australia?
The final continent to explore with our $100,000 is Australia where you can get a 3 bedroom home in Katanning, a country town in Western Australia, for $95,202. The property needs completely refurbishing mind you, because it is firmly set in the 1970s in terms of the internal décor! Set on a 1,300m2 corner block opposite the town’s recreation centre, this property has 3 bedrooms, 1 bathroom and it features a lounge with an open fireplace and a large veranda. Because properties this affordable are seldom found in this town, this home offers investment potential. If done up well and presented attractively, it’s possible you could re-sell for profit.
However, you can get much better value for money if you take a short plane ride and head to New Zealand. This nation not only offers some of the most fantastic scenery in the world, it has a buoyant tourism market, it has an economy that is continuing to weather the global financial storm well, and the local language is English – making it even easier to buy real estate and even set up home in New Zealand. Our final choice for the $100,000 budget is a newly renovated, very tidy single story detached house, in Castlecliff which is in Manawatu-Wanganui on the North Island. The home is tenanted so you can earn an income from it, or you can serve notice and move into this property that could be your new home from home in New Zealand. On the market for $92,481, this home comprises 2 bedrooms with an option to turn an additional study into a third bedroom. There is also a bathroom and separate toilet, a separate sitting room with a kitchen/diner and there is extensive garaging for 3 cars.
As you can see, your $100,000 will get you an exceptionally fascinating array of homes, investment opportunities and real estate around the globe – proving that you just have to be a savvy buyer if you have a relatively tight budget. Bearing in mind that there is subdued interest in homes for sale globally also stands you in good stead in terms of your negotiating position. Remember, an asking price is just that – a price being asked for. It doesn’t mean it is the final sale price! Be bold, negotiate hard, haggle well and always, always employ qualified, local legal representation to protect your interests when you enter into real estate negotiations abroad.
For details on the properties mentioned in this article subscribe to the Expat Daily News Newsletter – check the list titled International Real Estate for Less than $100,000. 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 $75,000
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.