Buying a home overseas can be the beginning of a retirement adventure, even for those with a modest retirement budget. You don’t need to be a millionaire to be able to own a home in another country. In select destinations throughout the world you can buy a home for as little as $100,000 or less, including, in some cases, at the beach. You may even be able to improve your retirement finances by securing an affordable home overseas.
Here are six of the world’s best places to retire overseas in a home of your own for under $100,000:
— Dominican Republic.
— Northern Cyprus.
Belize has a vibrant Caribbean culture, lush rainforests and a welcoming and hospitable population. English is the official language, which can make relocating more comfortable for monolingual American buyers. On the coast and out on the cayes, beachfront properties can come with price tags in the millions. However, inland, in the Cayo District, you can own your own home for as little as $75,000.
Bogotá is appealing for its cosmopolitan lifestyle and undervalued property market. This is an ideal choice for a part-time home that you could rent out when you’re not in residence yourself. As the fifth largest city in Latin America, Bogotá is home to almost 8 million people, and the growing city supports over 100 universities that turn out more than 100,000 new graduates every year. Thanks to its stable and diverse economy, more than 1,800 multinational companies have established offices here. The Alcala Park area has restaurants, bars, shopping, transport and parks that are popular among local professionals and tourists.
The Dominican Republic
Las Terrenas is an eclectic community that feels Euro-chic as well as Caribbean. Patisseries offer fresh baked pains au chocolat, and restaurant menus feature fine French and Italian wines. The quintessential sea, sand and sunshine in this part of the world are supported in Las Terrenas by a first-class hospital, well-stocked supermarkets and international schools. The cost of living and buying property is a bargain compared with other top-tier Caribbean options. You can own a condo close to one of Las Terrenas’s most beautiful beaches for as little as $90,000 that would be both an ideal island escape and a solid rental investment.
Tourists throughout the world flock to Rio for its famous beaches. But if you ask a Brazilian about the best place to go for a beach vacation in the country, they will point you to the state of Ceará on the country’s northeastern coast. The beach town of Fortaleza, Ceará’s capital, boasts long stretches of soft, golden sand backed by resorts, shopping, nightlife and all the amenities of a big city. For a slower pace of life, consider the laid-back town of Canoa Quebrada, with its pink-hued sand dunes. Property prices are undervalued, and beachfront condos can be had for less than $70,000. The currency exchange rate with the U.S. dollar can help make the price of oceanfront property and the overall cost of living feel like a bargain.
With year-round sunshine and world-class golden beaches, Spain qualifies as an affordable beach retirement spot. There’s also a rich culture, tasty local food specialties, good wine and a wide range of outdoor activities. Some regions of this diverse country qualify as luxury and come with price tags to match, but other areas are undervalued. Murcia, located in the southeast of the country, has a 250-kilometer stretch of Mediterranean coast known as the warm coast as well as Europe’s largest saltwater lagoon, the Mar Menor. Home values in Murcia are one-half to one-third of those in other better-known coastal cities. It’s possible to own a home in Murcia for as little as $100,000.
This Mediterranean island has year-round sunshine, pristine beaches and clear blue waters. Formerly a British colony, English is widely spoken in Cyprus and the expat community is welcoming. The cost of living and of owning property in Cyprus is notably less than elsewhere in the region, and a property purchase qualifies you and your family for easy residency. New hotels, luxury marinas, five-star resorts, golf courses and casinos are being built along the gold-sand coast. From beach homes to vineyard villas, there are many options for owning a home for $100,000 or less in Northern Cyprus.
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Where Retirees Can Buy a Home Overseas for Under $100,000 originally appeared on usnews.com