How cheap is the cheapest home for sale in your city/region?
How cheap is the cheapest home for sale in your city/region?
In Utah County the cheapest "House" for sale is 600 square feet, 2 bed, 1 bath, at $300k.
So at current interest rate it would be $1,800 a month mortgage(assuming you put the 60k down payment! A decent amount more if you do 3% down.)
The cheapest condo/town in utah valley is 205k, 1,100 square feet, on a 400 square foot lot. But due to a $500 HOA fee the monthly cost is still 1,700 a month (assuming 20% down).
With 3.5% down they'd both be closer to 2.1k +PIMI.
So yeah, how is where you live doing?
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There are houses in my town that have sold in the last 12 months for less than $100,000.
These don't include the shacks that are falling apart that sell for $30,000.This one was bought, fixed up, and is currently listed for $132,000.
"fixed"
I said "fixed up" meaning up-fitted as opposed to "repaired".
If you want to get to repairing things you can buy a house here for under $40k.
That's a shed, mate