My family and I live in Cambodia and are considering purchasing a vacation home here. We rent our primary residence. We are 37 years old and have around $500k in retirement savings. Land and a modest house in a scenic mountain area can be purchased/constructed for around $30k total here. As far as I know, land here is expected to appreciate at a rate keeping pace with inflation. Not sure about the home built on it as things tend to deteriorate faster in the tropical weather. Land is 15k for 60x150 ft plot, $15k more for house. No property taxes, and we have a good friend who lives next door and can keep an eye on the property and coordinate cleaning and maintenance for quite cheap. The downside is that the area is a 5 hour drive from our primary residence.
I’ve read some discussions concerning vacation homes, but wonder if the forum has any wisdom to share about this decision given the cheap price relative to our net worth?Alternatively we would invest the money as we continue to accumulate retirement savings.
Thanks!
I’ve read some discussions concerning vacation homes, but wonder if the forum has any wisdom to share about this decision given the cheap price relative to our net worth?Alternatively we would invest the money as we continue to accumulate retirement savings.
Thanks!
Statistics: Posted by AmCam — Sun Dec 08, 2024 2:13 am — Replies 7 — Views 769