Does anyone (American's) here own any property in a foreign country? Does it make any sense at all to do so? I've been contemplating buying something in a place like Bangkok (like a nice 1 or 2 br condo), but I wonder if this is at all smart. Of course, South of France is also not a bad place to buy. I'm talking about places that cost between $100K and $200K USD in central or near-central locations.
Advantages:
a) always have home base that you have control over
b) you can rent it out for when you're not there (not always easy however)
c) long term it can appreciate
Disadvantages
a) feel like you have to go there even if you want to go somewhere else
b) dealing with foreign property laws/management company
c) unless you buy for cash, it's a mortgage (if you don't rent it)
d) miscellaneous foreign idiosyncrasies
Ideally it might be nice to have two such homes: one in Europe and one in SE Asia, or maybe alternatively one in Europe and one in Central/South America.
Advantages:
a) always have home base that you have control over
b) you can rent it out for when you're not there (not always easy however)
c) long term it can appreciate
Disadvantages
a) feel like you have to go there even if you want to go somewhere else
b) dealing with foreign property laws/management company
c) unless you buy for cash, it's a mortgage (if you don't rent it)
d) miscellaneous foreign idiosyncrasies
Ideally it might be nice to have two such homes: one in Europe and one in SE Asia, or maybe alternatively one in Europe and one in Central/South America.