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

submitted 9 months ago by ericbomb@lemmy.world to c/asklemmy@lemmy.ml

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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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[–] MrVilliam@lemmy.world 40 points 9 months ago (3 children)

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...

[–] ericbomb@lemmy.world 6 points 9 months ago

Good reminder to never move their.

[–] Reverendender@sh.itjust.works 3 points 9 months ago

Explains why my rich brother in law lives in Charlottesville

[–] Jeff@lemm.ee 1 points 9 months ago

Fairfax isn’t any better. We looked at a 1625sq ft here that sold for $800k. And it was from the 60s and old as hell.