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How cheap is the cheapest home for sale in your city/region? (lemmy.world)

submitted 8 months ago by [email protected] to c/[email protected]

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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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[–] [email protected] 5 points 8 months ago

Not answering the question really, but it prompted me to check out property prices in my home town in New Zealand - small town near a small city in the south. Example: 3br "character" wooden villa on a small section, NZ$700k (US$434k, £350k). I had heard about the explosion in NZ house prices, but that really took me aback. The house I live in now, 3br mid-terrace with garden in a similar sized Scottish town, would sell for about £250k. Even that seems crazy expensive, but at least it's within half an hour of a fantastic city.

(The estate agent's website lists previous sale prices, it shows the kiwi horror story: 2022: $570k; 2019: $430k; 2011: $271k; 1988: $52k; 1984: $26k.)