Everything is that price in Florida! I am talking about 1 or 2 bed Condos, or one house for the whole sum, so $120k, I could manage that in Florida easily.
Lol, you haven't been to New York state then? I nearly bought a nice little home in a non-gangland part of Rochester for about $30k in 2007, with the intention that my fiance (now wife) could live there rent free whilst she worked there.
I'm not talking about something off of Desperate Housewives, I'm talking about low end of the market, in any area where drive by shootings aren't a daily occurance.
Basically I am left with Vegas (rentals to UNLV students and occassional non-term time use myself) or Florida (see link, easily manageable, I would use something like that myself).
I am clearly shooting down south, rather than up north, if I could spend $250k then I would be upgrading to something http://www.realtor.com/ bigger here
Basically my wife wants to build equity in something, I own this flat outright (pre-nup too), and we are happy to stay here for 6 years. Six years rent alone for this flat in the UK would be 28000 ($42000) so the intention is to use a large proportion of that saving to put a downpayment on property somewhere. Florida looks to be my best bet (just ask Bill Manning how cheap Florida is!).
I was looking at Spain, where people are having to give away apartments, but interest rates are heading towards unprecedented levels there so I would only buy in 100% cash there. Then there is Turkey, where many Brits are buying right now, but the unrest in that area does concern me, there is a growing fundamentalist element in Turkey which could well rise to the forefront in a decade or so. I could become Sufidreamers neighbour in Greece, but I was hoping for something which would require nothing other than minor cosmetic changes rather than a wholesale renovation, the mid-market in rural Greece doesn't really cater for turnkey buyers, as much as I would love to get a cement mixer and start building walls, I just don't have the luxury of time.
Berlin could be an alternative, where I could get two big flats in an up and coming area for around $150,000, a lot of paperwork and bureacracy though. Bulgaria is another but I would have to be quick, they are fed up with British investors so will be changing their land ownership laws.
I am basically left with Florida or Berlin, or Bulgaria apartments (apartments are long term leasehold, so foreigners will be unaffected by land reforms).
There is of course the UK, where I could just about buy a one bedroom apartment in my county with a $120k budget, but I was hoping for something which provides a potential escape route from the new launch singapore general misery of the UK, albeit a temporary non-working one if outside of http://www.mls.com/ the EU.