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.
$229,000 for 53 sqm (571 sqft)
This post was 4 months ago.
Fun to know that it’s still absolutely screwed.
2 bedroom, 1 bath mobile home from 1960: $26,900.
$650/mo. HOA fees.
Holy shit. I thought the $650 included HOA fees. That’s literally JUST the HOA fees. My mortgage on a $300k house is only $300 more than that. Though, I do have a 3% loan. Not getting that again.
Trailer parks saw how much money normal land lords were making, and were like “What’s stopping up from raising rent for no reason as well?”
It’s actually far worse than that. Trailer park Millionaires is a report from 9 years ago following wealthy investors who were buying up trailer parks so they could Jack up rent. Investors specifically targeted sex offenders, convicted felons, and other desparate tennants, so they could mercilessly exploit them since they truly had no place else to go.
Oh well isn’t that swell, add on some of those people probably have loans for their mobile homes and can’t afford to move them, and we get what we have.
In the city at large, I see the cheapest apartment 750sq feet for 18k but you can be sure the whole building is falling down; cheapest empty lot $30k 2,500 sq feet (so maybe do-able if you can build up 2-3 stories, since you aren’t actually allowed to build out to the edges of the lot).
Cheapest actual detached house in my ‘inside the city, close to work and everything’ neighborhood is an eye watering $440k and 1,500 sq feet, cheapest for sale apartment 700 sq ft $140k.
Most EXPENSIVE house in my neighborhood $2,250,000, and most expensive house listed in the whole city, add another zero to that price.
439k, 3 bed , 2 bath.
It gets cheaper, but they are mobile homes and restricted to 55+
This is for an area of western, suburban Tokyo. Edit: most are going to be around 1.25+ hours into Shinjuku involving transfers and up to a 20 minute walk to the nearest station.
In USD terms, around $76,000. 52.x square meters 3 rooms, bath, dining+kitchen (so one room is presumably getting used as the living room). Another few hundred a year in maintenance/condo fees. But it’s in a building from 1976 which is before the latest major earthquake law revision and I would absolutely not live there (property can appreciate in Japan, but houses are not seen as investments and lose value really quickly).
Poking around, there are freestanding houses as well in that range, but they cannot be rebuilt so you’re stuck with the existing structure (I don’t know to what degree one could legally “Ship of Theseus” the thing; interior renovation is fine). This is mostly due to a change in law requiring at least a 4-meter-wide (IIRC) road connecting to the property (and mostly for emergency services access). You can buy these on the cheap but it’s because they’re not a long-term solution and you’ll be stuck holding the bag on worthless land to all except maybe a neighbor who might want to buy it (but if it’s for sale now, they don’t).
There are actually a surprising number of buildings after 1981 (latest major earthquake law revision, basically required for mortgage + insurance), but a lot of them are in areas with heavy restrictions (landscape laws, height laws, aviation laws (I have no idea what that one means; maybe it’s in a flight path (noisy) or has some additional height/light restrictions?)), etc.
The search site I used doesn’t have any good way of searching for used homes without restrictions built after 1981 for comparison and I got tired of clicking.
Prices jump a lot within a 20-minute walk of the closest station; most people don’t want to live further.
Poking around, there are freestanding houses as well in that range, but they cannot be rebuilt so you’re stuck with the existing structure
Could you link an example or something on whatever Japanese zillow is? Because this seems absolutely intriguing to me, if only to see what it looks like.
Suumo.jp Is probably the most popular.
Thanks for the link, definitely an interesting time browsing. And sorry to keep bothering you about Japanese real estate, I’m sure you have more interesting things to think about, but looking at it, the offerings on the “under 20 million yen” page just seem absurdly too good to be true. Like, looking at something like This, 1100 square feet, seemingly fairly recent renovations and built in '94, parking for 3 cars, and only 35 minute walk from the station, yet it’s listed for 11.7 million yen/78k usd? Like, from an American perspective, it looks like some Craigslist scam to get your banking info. Is there something getting lost in between cultures? Is the Japanese market really just that much cheaper?
Most people would consider a house that’s 30-40 years old at end-of-life. There are likely restrictions on the property about rebuilding or something as well; that’s usually the only time you see stuff that cheap.
35 minutes to the station is too far for most people as well (prices drop as soon as you hit 20, typically).
You wouldn’t have central heat/air (not a thing here), the insulation is probably very little, etc. That’s all still just normal here.
Most people would consider a house that’s 30-40 years old at end-of-life
That’s pretty interesting to me. The house I grew up in was built in the late 50s, as was the entire neighborhood, making it just under 40 years old by the time I was born, and it’s still there today, with the only major renovations being redoing the flooring and replacing appliances.
Is the shorter lifespan more of just a cultural thing, or is it a matter of how housing is built? Because I can certainly see the pricing if it’s the latter and it’s nearing the point of requiring major maintenance.
$47,900 for a duplex in the bad part of town.
Here in Victoria BC the cheapest detached house is just shy of $1m cad. What a shithole
Damn, I didn’t realize I just wasted 45 minutes. No definitive answer, but it seems €30-40k for something that should be repaired, but could be barely lived in.
The absolutely cheapest I found was €17,000 with no photos from indoors, only with description saying it is not suitable for living in the current condition…
Very pricey is all i can say.
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
You wish it was a 100m2 garage for that price!
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
🚩
$200,000 for a 1 Bed 1 Bath with an hour and a half commute to the city. It’s a unit, so probably has a bunch of other fees attached for upkeep but they aren’t listed. Area is far away from necessary services, highly car dependent and notoriously crime ridden. The unit is run down and requires renovations.
Double that for a 2 Bed 1 Bath in a similar area.
According to Zillow, a 3 bed 2 bath with 800 monthly HOA fees for 465k.
800$ per month for HOA is insane.
Agreed.
I don’t want an HOA at all, let alone pay what SHOULD be the entirety of a monthly payment to them, on top of a mortgage that is going to be 3 times as much as the HOA fee.
When I was little (just 29) you would hear a price like that for the mini mansions up on the hill.
I can’t imagine how absurd it seems for people old enough that they bought their first home for 20k back in the 70s.
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.
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?
