80,000 Pounds Options?

[Jamespaddle29]

What to do with 80,000?

Hi, I am planning on buying a very small place with this money that will come to me as an inheritance.

the place will have a small place to do some metalwork/sclpture, either that or can get a metal shed.

Yes, house prices are cheaper where I am in the UK.

I want to be within distance of the sea, where I can surf and paddle.

Dont need to be right on seafront but within say 25 miles max.

As a free agent, without debts, mortgage wife etc.

Can anyone advise me if there is anywhere else in Europe (preferably Atlantic) where I could get something with a small garden for a very small workshop shed

for this money? I am self employed but am considering TEFL as some extra income.

I was looking at Galicia in Spain, however prices there seem to have zoomed up even some run down barn

with manure and tetanus is 60,000!!! Perhaps prices here will fall but dont seem to.

Also, the Cadiz area in Spain prices seem to be holding.

I would happily consider northern Portugal but not researched it and would have

to learn the language, I know some Spanish.

Another idea I had was IF house prices either decline or stall and do not go up with inflation,

I can just bank the money and go abroad to rent a place then think about buying

back in the UK if I want to 'settle down' unlikely as I am 34 already.

I feel it is criminal that having this money coming, I have to worry about it devaluing

due to the incompetancy of the last government. In the past one could happily

bank it and travel the world. In this propery obsessed Hello magazne trash

culture we all now have a Hobson's Choice when it comes to savings.

I might just do the easy option to just get a place here and start my metalwork but want to

make sure I know of alternatives.

Many Thanks for any help.

[BlinkTooFast]

Buy 150kg of silver?

[Milton]

One would assume that property in Spain will come crashing down, in a big way within the the next 12-24 months......?

Edited June 20, 2010 by Dan1

[Jamespaddle29]

I assumed this would happen in Galicia and the north coast of Spain,

I cannot find evidence of this happening in this area, anyone know?

Ha ha blinktoofast, I work in steel mainly and that much would need a bigger shed to store it in!

Edited June 20, 2010 by Jamespaddle29

[okaycuckoo]

Try the mountainy bits of the west coast of Ireland. Cork/Kerry/Connemara - all amazing. In hot sunshine the atmosphere is mediterranean (a few weeks a year, if you're lucky), and the winter storms are awesome. Full of holiday homes that I'm sure will have to be offloaded in a giant firesale.

[Giordano Bruno]

Just what I was going to suggest. Even Donegal - the Atlantic surf is fantastic. Look on Daft.ie to get an idea on what's available. Remember though to factor in private health care.

Thanks for the daft.ie site, doccyboy. I will be looking for a house in the £70k region when I decide to stop working.

The site is well named. Some of the prices seem daft. Houses and flats being offered at about the same price!

[Jamespaddle29]

Thanks for links.

Seems like where I am 'Scottish west coast' seems overpriced in comparison.

However, I would prefer to stay here.

What are houses doing in Iceland?

Seriously, I should think they will be cheap now?

I reserve my one right next to the big volcano, lol.

[Peter Hun]

Thanks for links.

Seems like where I am 'Scottish west coast' seems overpriced in comparison.

However, I would prefer to stay here.

What are houses doing in Iceland?

Seriously, I should think they will be cheap now?

I reserve my one right next to the big volcano, lol.

Try here for Iceland property, There are other sites of course.

The exchange rate is an issue. The Icelandic Krona is non convertible; essentially its worthless and the Icelandic government set an exchange rate. But you could possibly find someone willing to pay far more than the official exchange rate (i.e. double). Prices before the crash were astronomical, now less so and they will continue to crash as the effects of the kreppa continue - which they will do for many years.

Iceland is no way an investment, but as a cheap place to live if you earn foreign income it may be viable. Not cheap though, very expensive for food and quite expensive for heating/electricity.

[swissy_fit]

Try here for Iceland property, There are other sites of course.

The exchange rate is an issue. The Icelandic Krona is non convertible; essentially its worthless and the Icelandic government set an exchange rate. But you could possibly find someone willing to pay far more than the official exchange rate (i.e. double). Prices before the crash were astronomical, now less so and they will continue to crash as the effects of the kreppa continue - which they will do for many years.

Iceland is no way an investment, but as a cheap place to live if you earn foreign income it may be viable. Not cheap though, very expensive for food and quite expensive for heating/electricity.

Eh?

What about all this easily obtained geothermal energy then?

[Peter Hun]

Eh?

What about all this easily obtained geothermal energy then?

They don't give it away, its actually about the same prices as the UK, if not more, and you use it more as its very dark and cold for half the year.

[audi tt]

Turkey is where i would look if looking for a sound investment.

load of choice, lots of english speaking people, soon to join the e.u being a possibility. flights to and from the uk 4hrs ish. the cost of living in cheap and you should be able to buy something quite nice with that budget.

but i am saying turkey mainland here, don't even consider north cyprus where i live on that budget. yes you will buy something but it will be stollen greek cypriot land from the war.

. turkey doesn't have those problems and from what i understand the goverment has been harsh with any developer who is scamming. where as here in north cyprus its a free for all.

[thod]

Just go across the channel to Britanny (Bretagne). You can get exactly what you describe for the price you want. A bit warmer, everywhere near the coast, first world, and only a ferry hop back to the UK. Try www.seloger.com with the appropriate criteria.

[timebandit]

Like to read any more creative ideas. Any chance of moving this thread please, needs a wider audience.

My dull insular island life choices are Malta (island or Eastern Cyprus if you like to go downmarket.

Anyone Northern Spain/Portugal border?

Edited August 20, 2010 by timebandit

[Errol]

Sod the property, put minimum 5% into precious metals.

If really paranoid this could be placed in your own keeping or in a range of private vaults across Europe. I know of several in Vienna, for example.

Edited August 21, 2010 by Errol

[darkageahead]

They don't give it away, its actually about the same prices as the UK, if not more, and you use it more as its very dark and cold for half the year.

Where are you getting this information from exactly? I own a flat in Iceland.

Electricity bills are between 20 and 30 pounds per month, but rise in winter.

tax (which includes trash collection, water, etc) is £450 per year

Houses have sold in recent years in Iceland for as little as 50,000 kr (about £250), they can be bought at auction. Obviously these are the kind of houses need a lot of work doing to them.

[1888]

no one has mentioned Germany yet !

£80k will buy a very nice house

especially in the east

has to be a long term investment tho as selling within 10 yrs

attracts a lot of tax on profit

Germany is easily the best quality of life I have experienced so far

Belgium where I am now based is a redtape nightmare and the house prices

pretty extortionate

I am looking all over europe for my own wee place to buy

Portugal and Italy look quite tempting

France in places is still relatively cheap unfortunately not Corsica

which is a beatiful island

Spain I dont trust an inch due to local/regional planning permissions

which could see your house demolished or a road built through it and the bill given to you

have thought about Eire as well but still overpriced even with their crash

£80k gets u a dillapidated cottage miles from anywhere

[Jamespaddle29]

'Portugal and Italy look quite tempting '

any links?

how r u protecting your money?

I dont want to risk it in gold.

If I commit on Europe is a euro account insanity?

[Innocent Abroad]

Turkey is where i would look if looking for a sound investment.

load of choice, lots of english speaking people, soon to join the e.u being a possibility. flights to and from the uk 4hrs ish. the cost of living in cheap and you should be able to buy something quite nice with that budget.

but i am saying turkey mainland here, don't even consider north cyprus where i live on that budget. yes you will buy something but it will be stollen greek cypriot land from the war.

. turkey doesn't have those problems and from what i understand the goverment has been harsh with any developer who is scamming. where as here in north cyprus its a free for all.

Very many foreigners who have been scammed out of their life savings by dishonest developers would laugh or cry at the suggestion that the turkish government is harsh on the developers. To date the turkish government has turned a blind eye to their plight. Don't buy offplan in Turkey.

[Peter Hun]

no one has mentioned Germany yet !

£80k will buy a very nice house

Indeed, with depopulation in the east there are many abandoned houses.

[red11]

'Portugal and Italy look quite tempting '

any links?

how r u protecting your money?

I dont want to risk it in gold.

If I commit on Europe is a euro account insanity?

I think you could do a lot worse than put 5-20% into metal.

Daft.ie has some amazingly cheap cottages and bungalows, albeit in the middle of nowhere.

I would look at Eastern Europe and Turkey.

[swissy_fit]

I think you could do a lot worse than put 5-20% into metal.

Daft.ie has some amazingly cheap cottages and bungalows, albeit in the middle of nowhere.

I would look at Eastern Europe and Turkey.

Turkey.

Hmm.

Google "Seismology Turkey" before you buy.

[kenzdawg]

I hear interesting things about South Africa, though I know that doesn't meet the OP's criteria. GDP growth, HPI and high rental yields, but have to keep an eye on taxes, transaction costs and currency controls not to mention crime and personal security.

[strromness]

Turkey.

Hmm.

Google "Seismology Turkey" before you buy.

and also google DASK and insurance, its not a problem

80 000 will get you a fully furnished and airconditioned 5 bedroomed detatched house with sea views, marble stairs and fully fitted kitchen, either with shared complex pool or own small pool

Im not an EA I have one and that would be the price if I were selling (I'm not)

some good advice in the thread though, be very wary of buying off plan, ensure anything you buy has a tapu and iskan

[swissy_fit]

and also google DASK and insurance, its not a problem

80 000 will get you a fully furnished and airconditioned 5 bedroomed detatched house with sea views, marble stairs and fully fitted kitchen, either with shared complex pool or own small pool

Im not an EA I have one and that would be the price if I were selling (I'm not)

some good advice in the thread though, be very wary of buying off plan, ensure anything you buy has a tapu and iskan

My first concern wasn't really the financial aspect(though that is an issue), I was thinking about being inside my marble-staired villa when the earthquake happened. Still, for 80k and something of that standard, I might take a chance. Got an example or two? What are the internet speeds like?

[strromness]

Not sure about the internet speed, I know my mate over there at King Villas is watching the ex factor over a vpn provider at this very minute, so its at least usable. The only area I know well enough to recommend is Akbuk, although I like Kusadassi and dislike Altinkum (sorry) use google for properties and can I re-stress - be careful of the legalities. Be forewarned - have a look at the 'ripped off in altinkum' website (google it) for what can happen to the unwary.