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?
You must log in or register to comment.
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.
I had to laugh at someone in our office who found a listing for a fairly nice house for 20k.
It was indeed a nice house. Unfortunately the listing was for the parking space in front of it.
sounds right, sounds sadly right
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…
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
🚩
$200,000 for a 1 Bed 1 Bath with an hour and a half commute to the city. It’s a unit, so probably has a bunch of other fees attached for upkeep but they aren’t listed. Area is far away from necessary services, highly car dependent and notoriously crime ridden. The unit is run down and requires renovations.
Double that for a 2 Bed 1 Bath in a similar area.
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?
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.
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.
deleted by creator
600 square feet? What do you do with all the space? I can’t even conceive of having such a large house.
The house I live in is about the cheapest in my area that has an actual land deed. So it’s an effective minimum for a house in my city – smaller houses can’t get land deeds, so you can’t properly buy them. It costs about the equivalent of USD 150k.
I live in Ho Chi Minh City, Vietnam. The median salary is not so high here. So correcting for cost of living, that’s ‘something like’ the equivalent 600k in the USA.
The other catch is that the house is 2.3 meters wide and maybe 9 meters long (including the walls). That’s about 225 square freedom units. No yard in the front or back. Typically 2-3 families would live in a house like this, but it’s just my wife and I, because I need half the space for my business. My previous residence was smaller, about 2 meters by 4.5 meters. The roof fell on me once, but otherwise it was quite acceptable. That cost about USD 5k to build (building only – not land price), but you can’t legally buy or sell it.
Home ownership is basically impossible here except through inheritance, or owning a successful business (which is quite a battle in a cost-driven market). Even then, most families get a small room, with no ownership paperwork or land deed – the theoretical value of these is about 60k USD based on the rent vs. value of other buildings. So, equivalent to ~240k in the USA.
The other other catch is that bank interest rates are very high – and unless you are already rich, chances are you cannot get a loan. So typically buying a home is done in cash. Some people who work at big companies with upper middle class salaries have been able to get loans in recent times too.
Off in the countryside, you can still get a decent plot of empty land for ~30k USD and build your own home (10k to 200k depending on whether it’s a hut or a villa). However, there are basically zero employment opportunities out there, and you’re far from advanced hospitals and so on. Basic services are available, roads and power are OK, and it’s quite lovely. If you’re in good health, know how to catch fish, and speak Vietnamese, it’s actually a pretty good good life.
Anyway there are many things about life here that are really great (I mean, I chose to immigrate), but the path to home ownership is brutal. I thought it was brutal in North America but really I had no idea.
600 squared freedoms are 55 communists squared, in case anyone else from the civilised world was wondering. So not very big.
I have yet to meet a square communist!
I tried:
Wow. To be fair, most of the communists I know are less handsome than that. They look like maybe… somewhat better than average middle-aged people? They also only occasionally stare off to the horizon, far ahead and slightly to the left, with appropriate literature held tightly against their chests :P
I like that black shirt, I’d buy that in a second. We get some really nice propaganda posters here, but often the message is less dramatic than the artwork. Usually it’s stuff like ‘don’t drink and drive’, ‘try to eat less salt’, and ‘spitting in public is gross, stop doing it please’. Once I could read them, I discovered most of them were… surprisingly wholesome :D
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.
Its all relative really, because we don’t experience extreme temperatures the smaller variations in temperature make a bigger difference to us. It might get up to 25 degrees on a typical summer day and as cold as -10 in winter, but the difference between a day for shorts and a day for a jumper could be only 3 or so degrees
Totally and the cost of gas or electricity could be higher and that makes it a bigger impact.
It does because energy is very expensive in the UK.
London? Or somewhere close?
The cheapest livable in Paris, FR would be a 35m2 with two rooms, a kitchen and a tiny basement room for 30k€. It’s actually sold by the courts in April in an auction after being seized for whatever reason and I currently wonder whether I should make an offer for it as it’s so dirt cheap and I could pay it cash.
That’s stupidly cheap, especially for a city like Paris. In Swiss cities single outdoor parking spaces go for 30k. Not in the centre though.
I know, I’m Swiss and now I live in a country where no one bats an eye when I say I buy studio flats for when my kids will be students and want to live in the city and in the meantime rent them out. The 30k is the auction starting point. But if I could grab it for less than 60k and the have a cost total of 90k max with reno works, that would be splendid.
38 m^2, 2 rooms, 1 bathroom, 169000 € in a rural part of a bigger city in Western Germany.
That’s an exception, though. The house is a bit weird since it apparently stands next to a church in the backyard of some other building…
The church bells’ relentless ringing, calling for the children of the area to come to the priest’s most loving care, probably drives down the price a lot
With a quick search on Zillow for Lincoln, Nebraska (~300k pop college town), cheapest I can find is $90k for a 1 bed/1 bath 500 sqft condo. $100k for a 1 bed/1 bath 500 sqft house, though technically that’s a foreclosure so you might not consider that to count. The cheapest normal house for sale that I can find is $110k for a 2 bed, 1 bath 1500 sqft house. It’s an older home, but actually a pretty decent location (close-ish to downtown).
(£1 gbp = $1.27 usd = €1.17 eur)
Cheapest land - £15,000 (0.56 acres)
Cheapest “house” - £50,000 - The dwellinghouse may be suitable for renovation or as a building site for a new property
Cheapest livable house - £85,000 - looks like it was lived in at least.
Cheapest flat - £85,000 (1 bed)
Church - £100,000 - The adjacent cemetery is not included in the sale.
Genève (Geneva), Switzerland
Cheapest apartment is 38m², 2 rooms, 570’000 CHF (646’000 USD)
That’s very cheap. It’s a shitty flat but livable if need be.
https://www.immoscout24.ch/buy/4000814125
Cheapest house is 240m², 6 rooms, 2’950’000 CHF (3’347’000 USD)
That’s cheap???
Dear heavens, I didn’t realize some places were that rough.
Welcome to Switzerland
$70k USD - 3 bed, 2.5 bath, 1400sq ft., 0.3 acre lot, two stories and a detached garage. The interior needs plenty of non-cosmetic work (e.g. - new flooring)
$75k USD - 2 bed, 1 bath, 800sq ft., 0.15 acre lot; newly redone floors, electric and paint.
After that, there’s about 10 more in the 125-150K range.
