I'd like to invest it in a house. I have a few options but I don't want to rush and regret my decision after. All have pros and cons that are really worth considering and I'm also trying really hard to ensure this is not a fade too that I will regret.
Just a quick description of my current living situation to explain the various options I can think of. I live in the east of France in a house with a nice backyard (not big, but nice enough for me). I'm not in a flat in a big city where the need to have a green space is a must for the weekend, that's not the case. Prices for the house in my area are about 175k€ for a 100m2 (1076 square feet), and it's easy to find a house at 80/100k to fully renovate it after. I did a lot of work in my current house in various area, and even though I'm not a professional in that area, taking house renovation work doesn't frighten me. The issue is more on the time availability (where can we find 48 or even 72 hours a day, I only get 24!). Buying a house in these price range would consume around 70% of the money I got from my sale, and I'd like to keep a bit also for anything that could arive. Also, I'm not looking to invest to make more money from it, but to have something outside my bank account that is solid and can potentially help in the future.
With that in mind, here's the ideas I have, with their pros and cons (in no particular order).
Option 1: Buying a house to rent We are near the swiss border and a lot of french people live in France and work in Switzerland. I believe buying a house in these city would be taken quickly and could be rent with no troubles. A house, compared to a flat, would target families, which are - in general - more calm than a 1-bedroom studio for students.
Pros: Rent money - Quickly taken Cons: I can not enjoy it (go on weekend there for example)
Option 2: Buy a cottage at less than one hour drive. I could enjoy living in these a few times per year, let the family also use it, with the kids and all, and have a way to disconnect from our daily routine. I could also go a few days from time to time to work remotely, isolated (I like that). On the opposite side: we'd have to pay for service we wouldn't use everyday (electricity, internet, taxes, etc) and we would have to maintain the house (cutting grass, etc). No - or not much - renting to bring back money
Pros: Nice escape place - Could be shared from the family - Work remotely from there from time to time Cons: Weekly work (cutting grass) - Extra expenses (electricity, internet, etc) - No rent
Option 3: Buy a lake, and hopefully with a small cottage in it Kind of like Option 2, but with a more bare/raw way to sleep there. I'm not sure I could escape there to work remotely for instance, but I'm attracted a lot by the water side of things
Pros: Could have some nice weekend there - Could be shared from the family Cons: Work (cutting grass, managing the lake) - No real way to work remotely from there
(Text is too long, I'll continue in a comment: https://news.ycombinator.com/item?id=44887733 )
cx42net•5mo ago
Option 4: Buy an appartment in a skiing station We are at about 4 hours drive of the French alps and we frequently go to the same place that we really appreciate. Buying a flat there would make sense but this one is on the extra budget (I would have to take a bank loan for about 45% of the price). But this could be rented, shared with the family. I could still go do some remote work isolated from time to time even though the drive would be longer, but the view would be much better. On the cons side, this might be a risk bet in the future because of climate change, I'm anticipating there could be a house crisis in these places when snow won't be there.
Pros: Renting - Can be shared with the family/kids - Can do remote work - Nice weekends too Cons: Cost! - A bit far away - Risk of house crisis that could kill the investment
Option 5: Buy a house in brittany! This is the most extravagant option. We live at the total opposite of Brittany. It takes around 1000km and 10 hours drive to go there, but we absolutely love the region. We frequently go on vacation there (but not at the same place) and I know this is a place I would love to have a house and share it with the family and kids, spend some nice time with them, etc. The big issue there is that we couldn't be present a lot, and any issues where we need to come would mean a lot of constraints (it takes one tiring day to go there).
Pros: Something I'd really love - Could be shared to the family and kids - Can be rented - Can do remote work there Cons: Too far away
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These are the various options I'm considering, but all of these bring their cons that makes me stop and think they might not be the right choices. I'm also thinking about not investing in a house, but maybe acquire a SaaS project online and work on it, but I already manage two SaaS and they can be time consuming.
One disclaimer; I hope I don't come out as pretentious with my current situation. If that's the case I apologize. I know HN has quite a few people that are making a decent living and could have faced this situation in the past and I'm hoping to have some good advices on my choices before I make any stupid decision.
Thank you for your help !