Home or Away: Does Your Money Really Go Further Abroad?
02 June 2015 1918 Views
Moving abroad is a dream for many Britons. There are thousands of us who sit in our offices, day after dreary day, watching the rain patter against the window as we dream of sun, sea and sand. Certainly, expatriate life has its appeals: a more laidback lifestyle, lower living costs, and infinitely more temperate climes.
Now, it seems that it may have one more factor to add to its list of attributes: dramatically lower house prices. Yes, there are still the problems, stresses and costs of moving abroad: paying for flights, exporting goods and furniture, relocating, finding new employment, building a social life from scratch… But could this dramatic discrepancy in cost make all of that upheaval worthwhile after all? Take a look at what £250,000 could buy you in each of these countries and decide for yourself…
Living in London has its perks, we’ll admit: a cosmopolitan vibe, a dazzling social scene, and opportunities galore for the young and the ambitious. Unfortunately, the cost of housing is not one of them. In England’s very own capital city, £250,000 would buy you no more than a one bedroom flat at Harrow on the Hill, complete with a guaranteed dash of grey skies and a daily commute through rain-washed streets. Redbrick and modern, you’d be buying yourself white walls, laminate flooring and uninspiring views. If you’re looking for bang for your buck, then it’s probably not the best option for you.
In the ever-popular Madrid, however, your quarter of a million pound budget would go an awful lot further. Four bedroom homes start at around £250,000, meaning that for the same price as a one-bedroom flat in the English capital, you could net a stunning semi-detached house suitable for young professionals and families alike. With guaranteed sun, sea and sand, friendly locals, and a welcoming social scene, it’s hard to imagine that Spanish euros could buy so much more for you than their sterling counterpart. At that price, it would be rude not to.
Prices in the Cayman Islands are better yet. For a little under your £250,000 budget, you could purchase an ocean front plot totalling 6,274 acres. Bordered by dazzling azure seas, and promising to stay warm and sunny all year round, you could replace your cramped London flat with your very own island paradise. Admittedly, this price doesn’t include a property, but with the low cost of labour and materials in the Cayman Islands, a little money goes a very long way. Even with the added cost of flights and relocating abroad, the two simply can’t compare.
So, home or abroad? The choice is yours.