The 10 Cheapest Countries To Buy A Home

With more employers offering their staff the option to work from home, employees are taking weeping the benefits of working from anywhere ­– including in another country.

A new report analyzed the 20 wealthiest countries in the world using factors such as interest rates, housing prices, cost of living & income to determine the cheapest countries to buy a home.

If you’re ready to pack up and live abroad, here’s a list of 10 of the most affordable countries for prospective home buyers.

Mortgage repayments account for just 14.5% of income for the average homeowner in the US — making America one of the most affordable countries to own a home, according to the report.

united states

Belgium may take second place on the list, but it is Europe’s most affordable country for homeowners. The average housing cost is $215K and an average mortgage hovers around $850.

belgium

For a repayment mortgage on a $200K property, with a 20% deposit, a solo house-hunter in Spain can expect to budget $837 a month for mortgage payments.

spain

The average home price in Italy is roughly $236K. And while that’s a little more than the home prices in Spain, you will spend less on mortgage and living expenses.

italy

With an average housing price of $97K, Romania is a great place to purchase a home, with an average mortgage of $549.

romania

Mortgage repayments account for just 22% in Ireland, more than half the cost when compared to Romania.
The average home price is $266K  and the average mortgage is $1237.

ireland

Denmark homes on average will cost you $329K, according to the report. You should expect to spend at least 23% of your income on mortgage and living costs. The average mortgage is $1292.

denmark

For a repayment mortgage on a $257K property, with a 20% deposit, home buyers in the Czech Republic can expect to budget $1092 a month for mortgage payments.

Czech Republic

Canada is North America’s second most affordable option where the average home price is $294K.  At $1354, the average mortgage cost is cheaper than the average rent prices in the U.S.

canada

Finland takes the number 10 spot as the most affordable countries to buy a home, where the average cost of a home is $342K. The average mortgage is $1305.

finland

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