I’ve been eyeing a piece of land in beautiful Guatemala.
While Mo’ Money Mo’ Houses was thinking about buying property in the US, I was deciding where to invest the money I’ll receive in a couple of months. My sale will be finalized on Friday, so until then, I’m not making any offers, but my plans have significantly shifted.
Europe is insanely expensive. I don’t have a steady income, nor do I want to go into $1 million debt for a small two-bedroom apartment in Paris. I have around $100,000 from the flat sale and my savings to invest in real estate.
Here are my options in France:
Option 1: South-East France
Pros:
– Buy a 900 sq. ft. house for $100K, although it requires a lot of repairs (roof and insulation).
– Close to friends and my godmother.
– Convenient transport: a three-hour train ride to Paris and a one-hour drive to the beach.
– High tourist traffic in Provence could allow renting out rooms in the summer.
Cons:
– Small, old house in bad shape, needing gradual repairs over three years.
– Houses are often three small, 30 sq. ft. split levels, which is impractical.
– High cost mainly for the location.
Option 2: More Remote, South-West France
Pros:
– For $100K, get a 2,000 sq. ft. house with a decent garden.
– Property in better condition, like a big house from 1762 with a brand new roof.
– Potential to make six apartments for short- and long-term renting.
– Nice region with skiing two hours away and great food.
– Lower prices leave some budget for renovations.
Cons:
– Remote and rural area with an aging population.
– Complicated logistics and travel: Paris is 7-8 hours away requiring train changes.
– Socializing and dating will be compromised.
Option 3: Land in Guatemala
Pros:
– 21,500 sq. ft. land with a 35-meter private beach for $30K, leaving plenty of money to build a beautiful house.
– Option to buy a 90-acre ranch across the street for $70K, which could be divided into smaller plots for village extension.
– The land has a basic house for living while the new house gets built.
– Warm lake year-round with crystal-clear water, and plenty of tourist activities.
– Close to UNESCO World Heritage site Tikal and other Mayan ruins, with the international airport a 15-minute boat ride away.
– I’ve lived in Guatemala for four years, speak the language fluently, have friends who can help, and understand the local administration.
Cons:
– Far from Europe with expensive tickets, around $1,000.
– Less frequent family visits, particularly missing out on time with my 2-year-old niece.
– Some parts of Guatemala can be dangerous, although not particularly this area.
The Winner: Guatemala
Despite the extra transportation costs, Guatemala wins with its year-round pleasant weather, lakeside property, and significantly lower costs for land and construction. I’ll finalize my decision on Friday when I’m sure I’ll get the money from selling my flat. Fingers crossed!
Have you ever thought about buying property abroad?
