Let’s be honest—owning a second home sounds like a dream reserved for the rich. Beach house? Mountain cabin? Cute condo downtown? For most people, it feels out of reach. But here’s the truth: You don’t need a million-dollar bank account to make it happen.

Thanks to changing real estate markets, global remote work, and some clever planning, more and more regular folks are investing in second homes. Some use them as getaways. Others as rental properties. And some are prepping now for early retirement.

Whatever your goal, here’s how to make it happen—without striking it rich.

Step One: Rethink What a “Second Home” Looks Like

Forget the mansion with a pool and tennis court. A second home can be:

• A small studio condo in a walkable town

• A cottage in a rural area

• A compact flat in another country

• Even a fixer-upper you slowly improve

It’s not about impressing people. It’s about creating freedom, flexibility, and long-term value.

Step Two: Set a Realistic Budget

You don’t need $500K to get started. Many solid properties can be found for under $100K—especially if you’re willing to be flexible about location.

Check out this helpful post on the cheapest condo options in the U.S. You might be surprised by what’s available in smaller cities, up-and-coming neighborhoods, or less trendy states.

When you go international, your dollar stretches even further.

Step Three: Go Global

If you’re open to buying outside the U.S., your options multiply. Countries like Portugal, Bulgaria, Mexico, and Colombia offer incredibly affordable homes—some even for less than a used car.

And no, you don’t have to be fluent in the language or completely uproot your life to buy abroad. Plenty of expats own properties they visit seasonally, rent out, or retire to later.

Want a wide-angle view of what’s out there? Take a scroll through all real estate listings around the globe. You’ll find options in dozens of countries, at every price point.

Table: Where to Look for Affordable Second Homes

Country | Typical Price Range | Why It’s Popular

Portugal | $70K–$150K | Mild climate, good expat community

Mexico | $60K–$120K | Affordable living, close to the U.S.

Bulgaria | $30K–$80K | Low property tax, natural beauty

Colombia | $50K–$100K | Spring-like climate, urban conveniences

United States | $80K–$100K | Condos in smaller cities or towns

These aren’t fantasy prices—they’re real listings from buyers who looked beyond the usual hot spots.

Step Four: Know What You Can Handle

Before you jump in, think realistically:

• Can you maintain it yourself, or will you need local help?

• Do you want to rent it out when you’re not there?

• Will you visit seasonally or more often?

• How much can you afford in upfront costs and ongoing upkeep?

Answering these questions helps you narrow down the right kind of property for your lifestyle and financial comfort.

Step Five: Get Creative with Financing

If you don’t have piles of cash sitting around, you’ve got options:

• Home equity loans (if you own your primary residence)

• Partnerships with friends or family (co-own and share time)

• Seller financing in some international markets

• Savings + side hustle combo (set a timeline, chip away at it)

You don’t have to buy tomorrow. But knowing it’s possible? That changes your whole mindset.

Step Six: Embrace the DIY Lifestyle (or Not)

If you love projects, a fixer-upper can save you money—and give you a fun challenge. But it’s okay if you’re not that person.

Some properties come move-in ready. Others might need a coat of paint, new fixtures, or just your personal touch.

You get to choose the level of involvement that fits your skills, energy, and goals.

Final Thoughts: Freedom Comes in Many Forms

A second home isn’t just a status symbol. For many people, it’s a key part of their escape plan—from burnout, high rents, or the same old routine.

It’s about having a place that’s yours. Somewhere you can go to rest, dream, or start over.

And while it might take some research and creative thinking, it doesn’t take a lottery win to get started.

So go ahead—explore what’s out there. Run the numbers. Check the listings. Dream a little.

You might just realize that your version of a second home isn’t far away after all.