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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I’m in Ashburn, VA. I just looked at Zillow and saw that the cheapest single family home right now is $625k for 2060 sqft. If you have a credit score >719 and put $100k (~16%) down, it’s only $4438/month according to their estimates.
So my wife and I live in an apartment with no kids or pets, and we both work a lot… Maybe one day we can afford a townhouse? I just found a decent looking one that’s only $450k so $3200/month…
Good reminder to never move their.
Explains why my rich brother in law lives in Charlottesville
Fairfax isn’t any better. We looked at a 1625sq ft here that sold for $800k. And it was from the 60s and old as hell.
The cheapest home I could find in my hometown of Vancouver, BC is:
1 bedroom, 1 bath, 696 sq/feet 398,000
Just to point out, everyone else is talking about detached single family homes. The person from Vancouver gave a tiny apartment and it’s still worth nearly half a million.
The cheapest detached home for sale is $1,350,000, and it’s about as far away from downtown you can get while still being in the city of Vancouver.
Vancouver’s housing is out of control.
Has that “absentee owner” law (or whatever the name is) taken effect yet? Do you think it will help?
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The current government is trying to add things fairly quickly, the absentee owner law is in effect, and they did just add another 20% ‘flipper’ tax. As mentioned though, people still own way too many houses. My current landlord owns 7.
To add to this, they’re banning mass AirBNB rentals which should help. But yes, banning ownership of more than 2 properties would surely help most.
Just wanted to quickly point out - there’s likely nothing for 1.35 million in Vancouver. There are in greater Vancouver though.
And yes, 100% out of control.
Yeah, actually found a detached 2 bedroom. It was so far south it was practically on the Fraser River, but still in Vancouver.
Here in London, you can easily find for £120k a nice 100m² garage without plumbing outside of a busy hospital where passerbys go to smoke and urinate.
You wish it was a 100m2 garage for that price!
For more fun, calculate how much money you would have to make to meet the rule of having your mortgage only cost 30% of your take home pay!
To buy a home with a 2k mortgage and keep that rule, you’d need a TAKE HOME pay of nearly 80k, so easily needing 6 figures gross pay to afford these two homes while still keeping this rule.
By that calculation I am incredibly lucky (UK home owner). My mortgage is 16% of my take
I’m not saying I would kill to have my mortgage be 16% of my take home pay.
But if the military could guarantee it, id consider it.
155.000€ for new 5 bedroom 200+ m2 duplex in my small town in Spain.
No HOAs! supermarkets and schools are in walking distance ;)
Cheapest is around 30K, but why bother?
Do you get fiber Internet? Asking for a friend ;)
Yup, 700/700Mb. Also wimax but that only gets up to 25Mb
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Like $15k if you want a total gut & remodel
Edit: found one for $10k. Fun. https://www.zillow.com/homedetails/1205-Mill-St-Pittsburgh-PA-15221/11379395_zpid/?utm_medium=referral
“EXPLORE the UNTAPPED POTENTIAL”, I love the agents unyielding optimism.
Does that count though? If it isn’t even legal to live in yet, I think we should add rebuilding costs to be accurate. I could afford that $10,000 with help from the bank, but wouldn’t have the first idea how much it would cost me to make it livable. Can you still get a mortgage or house loans on materials to rebuild?
The OP said “house”. Interpret that however you’d like I guess. If you bought this place for $10k in cash, I don’t know who exactly would stop you from clearing out a room and living in it while working on it.
You can get a loan for just about anything from the bank. You don’t even have to be very specific about what you’re using it for. All they care about is credit history, what interest rates they’re giving you, length of loan, blahblahblah
Holy shit. How does that have a positive value? Still, Pittsburgh… hm…
Hyup. I was born and raised here, and love the city to death.
Wilkinsburg is a bit of a strange part of town. It’s one of a few neighborhoods that have resisted annexation for a century plus. Just look at a map of Pittsburgh and you’ll see big empty holes (literally mount Oliver is completely surrounded by the city). This results in some weird circumstances, wilkinsburg has really high taxes, shit schools, and is one of the rougher parts of town.
On the other hand, I love where I’m at in the city, I got a beautiful 1800 sq ft 4BR home built in 1890 along the river. I can see the water from my front stoop. $160k, and I have a few roommates. Currently slowly renovating the place.
It is a bit ironic opening Instagram or something and seeing posts like “omg! Pittsburgh is so affordable, my rent is under $2k!!!” For those shitty “luxury” apartments going in all over the country. Meanwhile, my mortgage is $830 because I bought during covid.
I feel the creep and know the city isn’t gonna be affordable forever. Wages are still a bit shit around here.
315k GBP for a 2br ‘period property’ (aka a disgusting dilapidated horder house with the energy efficiency of a tent)
Figure in another 100k and a year to fix it, due to how UK contractors work.
Does energy efficiency make a big difference in the UK? I was under the belief yall had a pretty tame climate. In Arizona it’s not uncommon to have days around 45 degrees for months so I know the efficiency really matters.
It does because energy is very expensive in the UK.
Here in a small village in the Netherlands the cheapest is 315k euro for 65m2 and 2 bedrooms
Well, there goes my dream retirement plan.
For a “cheap “ suburb of Boston
- $580k for 1,038 sq ft 2 br on a 5,000 sq ft lot. The homes on this area were originally built as summer cottages so they’re going to be expensive to heat. Of 12 single family homes for sale, 7 are over $1M and one is in a different town
- $265k for a 1 br condo, 579 sq ft. The only feature listed is “private entrance”. Second cheapest is a new townhouse for $1.5M
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.
That’s a shed, mate
This housing crisis won’t change until we start to move into politician’s lawns and garages.
$229k NZD for a 2 bed, 1 bath 80sqm slumlord rental in a shit neighbourhood in Christchurch, New Zealand
I don’t really understand the question. We have a few “houses” you can buy that would need a lot of work (to be livable for most people), that are also probably in high-crime areas (because of the price), that are available cheap.
You can buy a 1/1 in Montgomery, Alabama, downtown, on a 3,000 sq.ft. lot, for $4,000.00 total. 4k, that’s it. You can buy a 4/2 for $9,000.00. 9k, that’s all. And there’s more than one available. Come on down!
Great. Just remember that having to deal with the Alabama Supreme Court carries an additional cost.
There’s a reason for everything. But Montgomery, Alabama is a bargain housing-wise. You can get a real decent home for 100-150k no problem, and a gem for a bit more. The city has history (a lot not positive for white people) and a newly reelected black Democrat mayor who is pursuing rejuvenation. Some cool things are happening.
I understand the history and cost-related benefits to home buying. I just couldn’t live in that kind of conservative political climate.
It’s not to be underestimated.
My house is a small two story granny cottage with a total floor area of 90sqm (1000sqf) though the upstairs have a low ceiling so the “true” floor are is closer to 60sqm (650sqm). The plot is 1000sqm (10500sqf) and has an additional building with a sauna and a small workshop space. It’s located about 10km (6 miles) from the city centre on a residential neighbourhood in Finland. It’s one of the major cities in the country. I paid about 105k€ for it which means 450€/month
