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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] 4 points 8 months ago (2 children)

According to Zillow, a 3 bed 2 bath with 800 monthly HOA fees for 465k.

[–] [email protected] 6 points 8 months ago (1 children)

800$ per month for HOA is insane.

[–] [email protected] 2 points 8 months ago

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.

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

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.