We have several friends and family that are currently looking at buying of building new homes. The prices they are willing to spend ranges between about €650.000 and €750.000. I personally think they are bonkers, but I still love them anyways. So, what to buy with €700.000?
What to buy with €700.000?
As noted in this post, if you can survive on about €25.000 a year (after taxes) as a couple, you need about €682.000 in wealth at a 4% ROI (net cash-flow) or a 4% SWR (for your index funds/bonds). So why on earth would you spend that same amount on a house? That is beyond me. I know there is something to say for home comfort and that you are happy living in certain area’s, but still! It’s basically a decision between being FI or having a HUGE liability. You pick 😉
Anyhow, what can you buy with €700.000? Let’s have a looksy!
If you have about €700.00 to spend, and you want to live in Amsterdam. Behold this! You can actually spend €10.000 per m2 of living space 🙂 Mind you, you will be living on the highly desirable Herengracht. That’s hard to beat! However, you pay €350.000 per room for this privilege. Darn.
Want a little bit more space than in Amsterdam? You can buy this little National Monument (Rijksmonument) in Wijchen near Nijmegen. For the same price as in Amsterdam you get almost 5 times as much living space + close to 3 hectares of land. Heck, the house is newer too.
Only the upkeep is going to be horribly expensive, since it’s classified as a National Monument. That being said, you can request funds from the government to help pay for the property maintenance. Also the grounds might be contaminated with asbestos. Lovely! Let’s move on.
Moving to France?
You know I could not resist throwing this one in the mix. Still got a soft spot for ….. castles! How about this beauty! This has almost 9 times the living space compared to the condo in Amsterdam. It also has about 3 hectares of lands. And the beauty, this place might even make you some money if you (Air)BnB out a few rooms 🙂 You got 16 rooms anyways!
Want more freedom? How about this? Yes, you bankrupt yourself on maintenance, but at least you will have awesome views! Should you buy a yacht? No, of course not, but look at it! I’m already sold, screw FIRE!
Ok, this is just dumb. But I like cars, so what can you get for €700.000? Well this would work. You even have money left for a few options and perhaps a driver for a year or so. Who doesn’t was such a great depreciating asset? Heck, you could live in it!
On another note, you could have also bought the Lamborghini from the pope!
Now this is perfect! An island in the Bahama’s. Not that you really need to avoid taxes anymore because you would have spent all your money, but still! Any money you have left still needs to be enough for a one way ticket, camping gear and fishing rods. Plane not included!
Oh, you want a house too? No problem! How about this beauty?! A wooden home on an island in a river 🙂 It’s built up in the air to keep you dry during floods, smart thinking. The owner even wants to help finance it! With 36 acres (14,5 hectares!) you won’t have to see your neighbours either. Nice and quiet.
So, what else can you buy for €700.000? Let’s hear it!