A quarter of a million is no small amount of money and can be put to good use across the pond to bag you some serious property investment. Whether it’s simply square feet you’re after, or a truly luxurious apartment – you’ll be able to find somewhere well worth your money.
You may think that property in one of America’s big cities like New York or Los Angeles would be impossible to get your hands on for £250,000 – but thanks to the conversion rates and some research on our part, there is a wide range of options for you to choose from.
If you’re interested in finding out exactly what £250,000 can buy you in the US in 2021, then keep reading.
Before You Buy
Before you jump in head-first and purchase a property that you’ve never even viewed, consider conducting a virtual inspection.
Apps such as Property Inspect allow you to create accounts accessible by your property manager, where they can inspect properties and log their condition.
Being vigilant and making sure your property is in tip-top condition before handing over your £250,000 is a vital part of the process. Failing to do this could leave you in a vulnerable position if something unexpected goes wrong in your new home.
Otherwise known as “America’s Heartland”, the Midwest is known for its scenic views and laid-back way of living.
The most famous city in the Midwest is Chicago, in the state of Illinois. It is known for its culture, history, and food and drinks scene. Setting up shop here can be expensive, but apartments for roughly £250,000 can be found. On average, you can expect a floor space of just under 1,000 square feet, with 1-2 bedrooms, and a trendy, loft-style interior.
If you’re after more bang for your buck, look to states such as Nebraska or Ohio, which will offer larger properties at a lower rate.
The southern part of the United States is a place steeped in history and rich in culture. One of the best things about southern states is that the property prices are outrageously low!
If you’re after somewhere you can spend days sunbathing and the nights partying, then look no further than Florida. £250,000 here will get you either a trendy 1-bed apartment in Miami, or a 2+ bed property in a quieter city like Key West, both well over 1,000 square feet.
For those wanting a quieter lifestyle, you can easily find a beautiful piece of land in Jackson, Mississippi, with space to construct your dream home!
A great tip for finding property to fit your budget is by extending your search a little further afield than the centre of a city. Moving half a mile out of town will give you hundreds of more ways to put your £250,000 to good use.
The East Coast
The East Coast is a coveted place to live, but not many people know that there is much more to this region than just New York and Washington D.C.
Having said that, it is possible to find a property in these big cities, it just may not be as spacious as homes in other parts of the East Coast. In New York, you can find 3-bed properties in the Hamptons for approximately £250,000, or smaller studio apartments in the City for a similar price.
If you need something with more square feet, then look to Connecticut or Massachusetts for lower prices and larger rooms. Whilst old and spacious family houses may be out of the question, you can definitely find a 1 or 2 bed with a bath and kitchen for a budget of a quarter of a million.
Another area to explore is Holly Springs, North Carolina, known as one of the more affordable states to live in as a family.
The West Coast
There is a misconception that property on the West Coast is extortionately priced and unattainable for the majority. However, there are some hidden gems on the market if you know where to look.
Los Angeles is a great place to get your foot on the US property ladder, and is more affordable than you may think. By picking a neighborhood like Watts, you can get a 3-bed apartment, styled perfectly and with great connections to the areas of Hollywood and Santa Monica.
Did you know that Hawaii is technically considered part of the West Coast? For £250,000 you can land yourself a sizable apartment in Honolulu if you’re looking for a vacation spot!