I’ve been toying with the idea of investing in a vacation home abroad for about a year now. There are many suitable countries for such an investment such as Costa Rica, Portugal, Chile, Brazil, etc. Right now, this is just an idea, but here are some links and information I’ve located on the topic.
I watched a program on one of our specialty channels on investing in Rio de Jineiro. Evidently, you can purchase a condo 5 minutes from the beach for in the neighbourhood of $150,000 USD. Not a bad price given that you would only need to come up with the down payment, and the place would be yours.
- LandShareProfits answers the why of retiring to Costa Rica? The website is 100% focused on Costa Rican real estate.
- Free the Drones posts a lengthy article with some nice details on the legal aspects, and includes some real estate listing sites to-boot. They also have a few other posts on the topic .
- Free the Drones also posts about retiring to Thailand. It is mostly an outline various travel guides to the country, as strict retirement guides are not available in print. However, the author states that he’s working on a collection of what the internet has to offer on the topic. Visit the Retire Abroad tag for more goodies.
- Good news , the coup has not significantly affected real estate prices.
- More good news , if you’re American, you might find better healthcare in Thailand and neighbouring countries than at home, so why not retire there?
Furthermore, here are some other ideas:
1) Invest with friends and time-share the home
– this spreads the inital cost out
– a recurring yearly fee would take care of the regular expenses
– in short order, I’m sure it would be easy to find enough interested parties to fund the home
2) Rent the house for most of the year, while owning it yourself
3) If you find a house in the right area, it could appreciate significantly in value as more and more people consider buying up property in areas where tourism and trade are only just beginning to take-off.
To be continued…