See what you can get for £650,000, including a seaside apartment in Europe.

Are you currently daydreaming about owning your very own home? Or perhaps you are actively searching for the perfect property to buy? The UK housing market can be quite a beast to deal with, often leaving us fantasizing about what we would buy if we suddenly won the lottery. Even just having a little extra money in our deposit funds can make a huge difference.

Recently, a trend has emerged among Redditors to participate in the "£650,000 challenge" on a thread called Spotted on Rightmove. Members of this forum dedicate themselves to sharing unique, eccentric, and sometimes breathtaking dream homes from all around the world. Some notable posts include a four-bedroom renovated church in Dollar, Scotland and a French manor house with six en-suite bedrooms, a swimming pool, and even a tennis court.

It's no surprise that this trend has gained popularity, especially among younger individuals who are struggling to enter the competitive and expensive housing market. Just like how people window shop for clothes, we now find ourselves virtually browsing through properties that we can only dream of owning. With the average property in the UK costing £282,000 and in London skyrocketing to £687,134, it's no wonder that fantasy house shopping has become a common practice.

Curious about this challenge ourselves, we decided to see what we could find. Unsurprisingly, we came across a wide variety of options, from a tiny apartment in New York City, one of the most expensive property markets in the world, to a 6-bedroom home in Croydon, South London.

Our search began in the Big Apple, known for being one of the most expensive cities in the world to live in. According to the Cost of Living Index by Numbeo, New York City ranks as the third most expensive city, only surpassed by Geneva and Zurich. It's clear that one needs to have a high income to afford living in Switzerland. With that being said, £650,000, which converts to £844,174.50 in sterling, doesn't get you much in New York City.

We were able to find a two-bedroom house in The Heights for just under £650,000, priced at $839,000. This equates to an estimated monthly payment of $4,602, which is almost half the average monthly wage of a New Yorker. While not exorbitant, it's still not considered cheap. It's no wonder that the majority of New Yorkers, 69% to be exact, are renters, as not only is buying a property expensive, but they also have to pay hefty taxes each year.

Moving on to Montenegro, known for its medieval towns, beautiful Adriatic coast, and sandy beaches, we came across a studio flat in Tivat for just under £650,000 at £640,383. This may seem pricey, but it's important to note that even in London, studio flats can end up being relatively expensive. And this particular flat is right next to the beach, with access to an outdoor pool, spa, wellness facilities, and stunning views of the surrounding mountains. It's definitely a luxurious option, but not completely unattainable.

Back in London, we were surprised to find a six-bedroom house in Croydon for exactly £650,000. Who would have thought that such a property even existed in the city? Located a bit further from the city centre, Croydon is still well-connected by bus, train, and tram. It was even named the most affordable location for home hunters in London, with shared-ownership homes starting at just £76,000. Aside from its convenient location, Croydon also offers plenty of cultural hotspots and green spaces, making it a desirable place to live.

As our search came to an end, it was clear that £650,000 could get you a range of options, from a small studio flat in a popular city like New York, to a spacious six-bedroom house in a lesser-known area like Croydon. It all comes down to personal preferences and priorities. But one thing is for sure, owning a home, whether it's a dream or a reality, is a significant investment that requires careful consideration and financial planning.

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