What would you do?

An opportunity has arisen for me to purchase a large three floor house in Taichung County for only NT$ 2.5 million. It is valued at 8 million, but a family member is selling the house that low to give my wife and I a head start in life.

I have been mulling over the idea now for quite a while. The advantageous side is that the house has business rights, which opens a whole avenue of opportunities, and I can purchase it without too much financial strain. The flipside is that the house is in a typical ramshackle Taiwan. If my wife and I do purchase the house it will be with the intent of living there ourselves and setting up something permanent. It is not an option really to simply buy the house at 2.5 mil and sell it in the near future for a healthy profit. The people who live there now would do that themselves if that were the case. As it stands, the house is a gift really and is to remain in the family for the next 10 years or so at least.

This is where the dilemma comes in. Buying the house would allow me to quit my teaching job and be able to work from home doing what I really enjoy. But it will also mean moving out an amazing place in Yangmingshan to a scruffy town in Taichung.

To me, my surroundings are central to my sense of well being. But being able to do what I most enjoy is also central that. So which would you choose: to live well doing something mediocre, or to live grudgingly in a hodge-podge town doing what you enjoy?

You are being handed a gift.
Buy it. Then decide if you want to quit teaching.
Houses have their own set of needs and repsonsibilities.
Think of it as the next step in your adventure.

Just stop there. Weigh these things. We can’t do it for you. :rainbow:

From an amazing place on Yangmingshan to a scruffy town in Taichung is probably a much bigger step than you coming to Taiwan from wherever it is you’re from.
It’s a real life-changing move. Why not take the house and rent it out for a while, spending some SERIOUS time down there to get a feel for it. Living there will be very, very different to visiting the in-laws there for a few days at a time.

[quote=“Sirakwai”]An opportunity has arisen for me to purchase a large three floor house in Taichung County for only NT$ 2.5 million. It is valued at 8 million, but a family member is selling the house that low to give my wife and I a head start in life.

I have been mulling over the idea now for quite a while. The advantageous side is that the house has business rights, which opens a whole avenue of opportunities, and I can purchase it without too much financial strain. The flipside is that the house is in a typical ramshackle Taiwan. If my wife and I do purchase the house it will be with the intent of living there ourselves and setting up something permanent. It is not an option really to simply buy the house at 2.5 mil and sell it in the near future for a healthy profit. The people who live there now would do that themselves if that were the case. As it stands, the house is a gift really and is to remain in the family for the next 10 years or so at least.

This is where the dilemma comes in. Buying the house would allow me to quit my teaching job and be able to work from home doing what I really enjoy. But it will also mean moving out an amazing place in Yangmingshan to a scruffy town in Taichung.

To me, my surroundings are central to my sense of well being. But being able to do what I most enjoy is also central that. So which would you choose: to live well doing something mediocre, or to live grudgingly in a hodge-podge town doing what you enjoy?[/quote]

No brainer,

If this opportunity is legit then jump on it.

What does your wife say?

Go for it.

Decorate the hell out of it, make the home a paradise. Working from home will be a pleasure then.

That’s pretty cheap, but how good is the house?

I disagree. The four walls and the ceiling might be very nice, but you’re still in the middle of bumf*ck, nowhere. That would drive me bonkers. How much would your environs affect your sanity? If I had to hear buses roaring past, have cretins spitting betelnut outside my front door, hear nakashi every time I got in a taxi, I’d probably slit my wrists in despair. Make sure you have a good internet connection - I think if you move down there you’re going to be posting on Forumosa A LOT!

Are you prepared to return at least $5.5 million of favors over the next 10 years? The out of work relative who needs a place to live…extended visits by your mother in law…a loan requested here and there…favors requested for so and so who wants to study in the states.

I have no experience at this, but maybe you are very likely walking into a lifetime of indentured servitude by accepting this gift.

I disagree. The four walls and the ceiling might be very nice, but you’re still in the middle of bumf*ck, nowhere. That would drive me bonkers. How much would your environs affect your sanity? If I had to hear buses roaring past, have cretins spitting betelnut outside my front door, hear nakashi every time I got in a taxi, I’d probably slit my wrists in despair. Make sure you have a good internet connection - I think if you move down there you’re going to be posting on Forumosa A LOT![/quote]

Yeah, could be a waste of money.

I would be wondering why they were selling it for so cheap. You can pay that much for a decent enough house back in Canada in not too bad of an area.

Thanks for your responses.
Rice_t, my wife says that it sounds like a feasible idea, but that the decision lies entirely with me.
Tomas, my thoughts were exactly the same. The house is in pretty good nick, but with new wooden floors, a fresh coat of paint on the walls, some decent furniture, and a nice western kitchen it will be even better. I am a real homebody and I am sure it would be comfortable to work from home when I am done with the place. But maoman raises a good point too. I am very much a city person. I need good coffee shops, book stores and a variety of good restaurants to feel I live somewhere worthwhile. I don

I disagree. The four walls and the ceiling might be very nice, but you’re still in the middle of bumf*ck, nowhere. That would drive me bonkers. How much would your environs affect your sanity? If I had to hear buses roaring past, have cretins spitting betelnut outside my front door, hear nakashi every time I got in a taxi, I’d probably slit my wrists in despair. Make sure you have a good internet connection - I think if you move down there you’re going to be posting on Forumosa A LOT![/quote]

Yeah, could be a waste of money.

I would be wondering why they were selling it for so cheap. You can pay that much for a decent enough house back in Canada in not too bad of an area.[/quote]
Off-topic: Considering that 2.5 million NT equals about CA$90,000, exactly where in Canada could you buy a “decent enough” house for so little? The Yukon?

I disagree. The four walls and the ceiling might be very nice, but you’re still in the middle of bumf*ck, nowhere. That would drive me bonkers. How much would your environs affect your sanity? If I had to hear buses roaring past, have cretins spitting betelnut outside my front door, hear nakashi every time I got in a taxi, I’d probably slit my wrists in despair. Make sure you have a good internet connection - I think if you move down there you’re going to be posting on Forumosa A LOT![/quote]

Yeah, could be a waste of money.

I would be wondering why they were selling it for so cheap. You can pay that much for a decent enough house back in Canada in not too bad of an area.[/quote]
Off-topic: Considering that 2.5 million NT equals about CA$90,000, exactly where in Canada could you buy a “decent enough” house for so little? The Yukon?[/quote]

You could get a house with a front and back yard. Bungalo style. Solid foundation. Not even too old. Maybe a house made in the 80’s. Sure. Not in Toronto or Vancouver, but I’m not sure if you can ther. I’m from Frederciton. It’s not the cheapest either, but not too far out of town. Pretty much in town. Population there is 50,000 and it’s a government/university town.

You could also get yourself a really huge house with an even exponentially huger property for that in the country and give yourself a twenty minute drive to work in the city.

You could get one in Saskatoon; or an even nicer one in the countryside.

You could get one in Saskatoon; or an even nicer one in the countryside.[/quote]

That’s what I was saying.

Why would you want to pay for a stupid house in stupid Taiwan? Talk about a waste of cash.

Does owning a house in Taiwan give one some tax advantages as it does in the US? Real estate is an investment, so you’d be doing what you love and making an investment at the same time. Taichung city is quite nice from what I remember of my one or two time visits there. Surely they have some bookstores and coffee shops.

Bodo

[quote=“Bodo”]Does owning a house in Taiwan give one some tax advantages as it does in the US? Real estate is an investment, so you’d be doing what you love and making an investment at the same time. Taichung city is quite nice from what I remember of my one or two time visits there. Surely they have some bookstores and coffee shops.

Bodo[/quote]

I’d say “not” in this case. Sounds like someone’s trying to make a buck, but it’s not the foreigner groom.

I would buy the house, even if you live in it for a while and then move out. At least you have a house. If it’s worth so much more than what you’re getting it for, at least you could sell it later and get your money back, if not make a profit. you could also rent it out.

I wish I owned my own place in Taiwan. Paying rent is stupid.