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?

  • MrVilliam@lemmy.worldEnglish
    35·
    2 years ago

    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…

  • tetris11@lemmy.ml
    23·
    2 years ago

    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.

    • The Dark Lord ☑️@lemmy.ca
      29·
      2 years ago

      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.

      • bobbyfiend@lemmy.ml
        3·
        2 years ago

        Has that “absentee owner” law (or whatever the name is) taken effect yet? Do you think it will help?

        • rab@lemmy.ca
          5·
          2 years ago

          Nothing will help unless they ban the ability to own multiple properties. Policies such as the empty homes one have intentional loopholes

        • TSG_Asmodeus (he, him)@lemmy.worldEnglish
          2·
          2 years ago

          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.

          • The Dark Lord ☑️@lemmy.ca
            2·
            2 years ago

            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.

      • TSG_Asmodeus (he, him)@lemmy.worldEnglish
        1·
        2 years ago

        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.

  • ericbomb@lemmy.worldOP
    17·
    2 years ago

    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.

    • breadsmasher@lemmy.worldBanned from communityEnglish
      8·
      2 years ago

      By that calculation I am incredibly lucky (UK home owner). My mortgage is 16% of my take

      • ericbomb@lemmy.worldOP
        11·
        2 years ago

        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.

  • hawgietonight@lemmy.world
    14·
    2 years ago

    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?

  • rab@lemmy.ca
    11·
    2 years ago

    Here in Victoria BC the cheapest detached house is just shy of $1m cad. What a shithole

  • chrizl@lemmy.world
    10·
    2 years ago

    Here in a small village in the Netherlands the cheapest is 315k euro for 65m2 and 2 bedrooms

    • Obi@sopuli.xyz
      8·
      2 years ago

      Godverdomme. Right behind my house also Dutch village they built a new building with apartments, 240-270k for 35m2, they’re literally shoeboxes.

    • krash@lemmy.ml
      5·
      2 years ago

      “EXPLORE the UNTAPPED POTENTIAL”, I love the agents unyielding optimism.

    • Sylver@lemmy.world
      3·
      2 years ago

      Does that count though? If it isn’t even legal to live in yet, I think we should add rebuilding costs to be accurate. I could afford that $10,000 with help from the bank, but wouldn’t have the first idea how much it would cost me to make it livable. Can you still get a mortgage or house loans on materials to rebuild?

  • hackerwacker@lemmy.ml
    8·
    2 years ago

    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.

    • Tak@lemmy.ml
      22·
      2 years ago

      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.

  • AA5B@lemmy.world
    8·
    2 years ago

    For a “cheap “ suburb of Boston

    • $580k for 1,038 sq ft 2 br on a 5,000 sq ft lot. The homes on this area were originally built as summer cottages so they’re going to be expensive to heat. Of 12 single family homes for sale, 7 are over $1M and one is in a different town
    • $265k for a 1 br condo, 579 sq ft. The only feature listed is “private entrance”. Second cheapest is a new townhouse for $1.5M
  • Mac@mander.xyz
    7·
    2 years ago

    There are houses in my town that have sold in the last 12 months for less than $100,000.
    These don’t include the shacks that are falling apart that sell for $30,000.

    This one was bought, fixed up, and is currently listed for $132,000.

  • RegalPotoo@lemmy.worldEnglish
    5·
    2 years ago

    $229k NZD for a 2 bed, 1 bath 80sqm slumlord rental in a shit neighbourhood in Christchurch, New Zealand

  • athos77@kbin.social
    5·
    2 years ago

    The cheapest one is apparently in the town next door. It’s a 3 bedroom, 1 bath, 984 square foot single family home built in 1955, on a third-of-an-acre lot with no HOA.

    All the pictures are of the outside only, so I’m assuming the inside is pure shit. However, I also have to assume it’s some kind of liveable shit, because the places that aren’t liveable generally have to list as “0 bedrooms”.

    It’s $60,000, in south/central New Jersey. Or $665 per month, which includes 30 year mortgage as well as property taxes.

  • Addv4@kbin.social
    5·
    2 years ago

    $70k in my area in NC. It’s a lovely 2bd/1ba, and can keep the rain off your head (mostly). It totally wouldn’t be condemned if actually inspected.