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Ask HN: Where can I live off 1k USD per month?

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131–140 of 557 posts

Re: Ask HN: Where can I live off 1k USD per month?

#131

I recommend the Balkans, in particular the less touristic countries. Serbia, Bosnia, Albania, Bulgaria are all very inexpensive, safe, have reliable internet, and an abundance of cafes and co-working spaces. Most also have favorable visa conditions for Americans (e.g. Albania lets Americans stay up to a year on a tourist visa.) In terms of cities, I recommend Belgrade and Sarajevo the most. Going further east, Tbilis…

Yeah. The quality of life available in many of these major Balkan cities is on-par with anywhere else in Europe for a tiny fraction of the price. You can find lovely flats in the urban center Sofia, Bulgaria for less than $500 pcm, pay basically no local taxes, access the quality of music/museums/restaurants you'd expect in any other capital city, use a solid public transport system, and get healthcare that beats the USA in both quality and cost. Add in a gorgeous countryside, safety orders of magnitude better than major US cities, and decent English skills among the younger generations and it's a very easy place to pass a year or two. Something to consider for retirement too. Trying to convince my parents to give that a go, since they'd be able to live like kings on their modest savings rather than developing ulcers from constant fear of retirement ending healthcare mishaps.

Re: Ask HN: Where can I live off 1k USD per month?

#133
post #74

Earlier quoted context omitted.

> Basically, if you put down a huge deposit (like $90,000: 50% to 90% of the value of the property), you don't pay any monthly rent and get the entire deposit back when you move out. That's kind of a strange system. Any idea how it evolved there? Basically sounds like the landlord has to invest the money in such a way as to get a return that would be equivalent to rent but also safe enough so that they can return the…

I believe the system started when there were double digit interest rates (in the 80's?). Now interest rates are much lower, but Koreans got used to paying $0 rent and anything above that feels like they are being ripped off. One reason landlords like the system is because they can daisy-chain the purchase of multiple properties. They take the first cheonsae deposit and use it to purchase another property, then use th…

This reads like a Ponzi scheme, if you consider the tenants as investors.

Re: Ask HN: Where can I live off 1k USD per month?

#134

Not quite $1k per month, but in the cheap areas of the UK you can rent for $620/mo, call bills another $230. After adding food, you won't be far over $1000. Just in case you wanted an English speaking country and could stretch the budget.

How cheap is Norwich?

Re: Ask HN: Where can I live off 1k USD per month?

#138
post #42
post #11

I live in Korea. Some months my total expenses are as low as $400 while living comfortably. If I spent $1000 in a month, I spent a lot of money. I'd say my average monthly living expenses are $600-$800. My main expenses are food/entertainment, and I eat out a lot (50% of meals). Housing is probably the biggest living expense. I take advantage of Korea's interesting rental system called Cheonsae: Basically, if you put…

12% is pretty high yield for the modern/western world. South Korea central rate is %0.75 according to Google. Where does the 11.25% come from?

in crypto 12% is quite low.

Re: Ask HN: Where can I live off 1k USD per month?

#139

Central Portugal: an hours drive to the beach and incredibly low cost of living at small towns. Amazing food and weather, very low crime rate, easy access to well connected international airports (Porto), easy access to regional tech hubs (Lisbon and Porto) Example: https://www.numbeo.com/cost-of-living/in/Viseu

With 850 euros, you don't live well in Portugal.. you survive. Disclosure: I live part-time there and I love it.

Re: Ask HN: Where can I live off 1k USD per month?

#140

Earlier quoted context omitted.

You perhaps missed that you get the whole deposit back. The landlord doesn't keep it. You could buy the property outright, or you could live somewhere for essentially free, as long as you don't value the interest on that cash more than you value the place you're staying.

Still, why not pay 10% more and own the building? You could still get the money back (and hopefully more) when you sell it again.

Or potentially a lot less. The idea that real estate always goes up doesn't match reality.
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