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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Handful of townhouses for sale. Cheapest is $225k for 2 beds/1 bath, 1100 sq.ft. The others for sale are about 20k more expensive and are bigger (and there are some that are $$$).
One of the older (60s?) homes in the area is for sale $525k. It's 3 bed/3 baths, 2100 sq.ft. and an ingroind heated pool and half an acre. This is far too cheap for the area so it might be a divorce or something.
Most lots go for about 400k and other houses are 600k. This is in one of the big upper middle class suburbs in the Midwest