Saturday, November 19, 2011

Where in the World Can You Buy Property for Less Than $45,000?

Imagine sipping an ice cold glass of Chardonnay on the terrace of your dream home whilst admiring a panoramic view of the countryside as the sun sets on a glorious summer's day.

Although it may not be possible to transform this dream into reality in your home country, there are still several  countries in the world where you can find affordable homes for sale. Here is a round-u p of four countries where it is possible to purchase a property for US$50,000 or less. Ecuador

If you have always dreamed of owning a home in Hawaii but you know that you will never be able to afford it, why not consider the South American country of Ecuador as an alternative? Ecuador has a similar climate to Hawaii and is just a four-hour flight from Miami. However, it is not as well developed as Hawaii, so you can expect peace and quiet rather than non-stop diversions

In 2009, Ecuador was voted the top country to retire to by International Living Magazine.

You could purchase a three-bedroom villa close to the beach for just under US$50,000

Bulgaria

A wide range of properties under US$50,000 (equivalent to approximately Euro 35,000) is available in the Eastern European country of Bulgaria. Bear in mind, however, that many homes in this price range are unfinished or require extensive modernization. They may have only very basic facilities with an outside toilet and no internal bathroom or central heating.

However, these properties may have a sizeable amount of land attached with fruit trees, vegetable gardens and perhaps even vines. They have rustic charm and beautiful views of the countryside and mountains. Since the prices of such  properties start at around US$5,000,  you will be able to afford at least some renovations out of your total budget.

If you prefer a ready-to-move-into property, it is also possible to buy a new, modern apartment  in Bulgaria for less than US$50,000.

Italy

Between ten and twenty years ago, property in the romantic Western European country of Italy was very affordable. However, prices have risen steeply in recent years as many foreigners have invested in real estate there. Although it is still possible to buy a home for less than US$50,000 (Euro35,000), most properties in this low price bracket will need at least some restoration which will necessitate further investment.

New Zealand

The Lord of the Rings film trilogy has increased interest in the remote English-speaking country of  New Zealand in recent years. However, it is still possible to invest in property therefor less than US$50,000, or around NZ$65,000.

For around US$31,000 (just under NZ$40,000), you can purchase a three-bedroom, one bathroom property close to a surfing beach on the west coast of New Zealand's South Island. Such a property will need some sprucing up, but with  around US$20,000 left in your budget, you will be able to afford to make some improvements.

If you prefer a smaller property in a better condition for about the same price, you could consider a one-bedroom, one-bathroom house in Tapanui at the foot of the Blue Mountains, just one and half hour's drive from Dunedin International Airport.

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