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Old 03-31-2018, 04:58 AM
 
Location: Phoenix AZ
5,920 posts, read 10,444,053 times
Reputation: 9226

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Quote:
Originally Posted by marino760 View Post
I would if that's what I could afford. It's not horrible. It's a small older house that needs some work. It's not the end of the world. Everything I see is quite fixable and cosmetic. This house could easily be made livable. Estimated monthly mortgage is $275. It's much more affordable than an apartment and it sure as hell beats being homeless and living in your car.

So true, in the rust belt, rents for "nice" places are often way higher than payments on older houses. If you're careful and handy, you can certainly get an affordable and decent house without a huge mortgage (or possibly any mortgage at all).
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Old 03-31-2018, 08:10 AM
 
Location: Houston, TX
13,153 posts, read 7,398,957 times
Reputation: 27260
Quote:
Originally Posted by mathjak107 View Post
i would think they would be in some pretty undesirable areas
/thread.
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Old 03-31-2018, 03:19 PM
Status: "In an Involuntary Time Warp" (set 24 days ago)
 
7,849 posts, read 10,151,521 times
Reputation: 11403
Cleveland, Detroit, maybe Utica, NY?
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Old 03-31-2018, 05:19 PM
 
Location: Washington state
4,680 posts, read 2,302,044 times
Reputation: 13681
Quote:
Originally Posted by ersatz View Post
Cando, North Dakota.

https://www.zillow.com/homes/for_sal...ct/6_zm/1_fr/?

I'm tempted to buy it myself except for the ND thing. Location location location.

(I'm just having fun. I passed through ND on vacation two years ago and thought it was pretty cool. Plan to go back there and hang out when I have more time.)
I love that house and check out that staircase. I wish there was some way to buy it, then pick it up and move it to a lot here somewhere. For free.

I have seen some nice houses under $50,000 in the area I want to live, but I also want some acreage. At least half an acre. I really don't want to piddle around with a 3000 sq ft lot. So when I see the prices of homes on say, an acre, I know most of the cost is the land itself.

In fact, I'm getting really, really tired of seeing small lots with huge price tags on them that say value is in the land only. If it's in the land only, then price accordingly. Just because a wreck sits on your lot doesn't make it more valuable. In fact, people with wrecks on their lots need to price down, because it's going to cost and arm and a leg to raze that sucker and get it trucked out.
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Old 04-01-2018, 04:09 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,400 posts, read 50,602,810 times
Reputation: 28627
Quote:
Originally Posted by rodentraiser View Post
I love that house and check out that staircase. I wish there was some way to buy it, then pick it up and move it to a lot here somewhere. For free.

I have seen some nice houses under $50,000 in the area I want to live, but I also want some acreage. At least half an acre. I really don't want to piddle around with a 3000 sq ft lot. So when I see the prices of homes on say, an acre, I know most of the cost is the land itself.

In fact, I'm getting really, really tired of seeing small lots with huge price tags on them that say value is in the land only. If it's in the land only, then price accordingly. Just because a wreck sits on your lot doesn't make it more valuable. In fact, people with wrecks on their lots need to price down, because it's going to cost and arm and a leg to raze that sucker and get it trucked out.
Sellers will price based on what they can get. In the current market, a tear down in a desirable area is still going to cost more than a nice home in a less desirable area. An acre here can have 8 houses or many condos built on it, half an acre 4 houses, so itís priced accordingly and often bought by developers since buildable land is in short supply. They just consider the demo a small part of the cost since they can sell the homes at close to a million apiece or condos at $500k. I donít know where you are finding those homes under $50k, other than mobiles in a park. We have looked and find even vacant lots way out in the country to be more than that.
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Old 04-02-2018, 08:14 AM
 
Location: Living on the Coast in Oxnard CA
15,371 posts, read 25,579,836 times
Reputation: 19646
Quote:
Originally Posted by Backintheville2 View Post
But if they plan to retire there, the lack of jobs shouldn't be an issue. Unless they are thinking of part time or seasonal jobs, perhaps.
Very true, for them it will work out when they do finally retire. My sister is in her 30's now as is her husband so they have many years to go before they are retired.

For someone looking for a low cost home and would be looking at a similar place that they purchased a home at the realization is that the location may not have jobs or the pay is low.
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Old 04-02-2018, 09:29 AM
 
Location: Williamsburg, VA
1,685 posts, read 768,568 times
Reputation: 3526
Quote:
Originally Posted by JR_C View Post
I think there have been enough examples provided in this thread to show this isn't always true.
I guess it all comes down to what you'd consider a decent place to live. I looked at all the examples provided and drew a different conclusion. They were ok, but I wouldn't actually want to live in any of those places. It might be partly due to my age. There were several in neighborhoods that I would have considered when I was in my 20s. I wouldn't want to be a senior there, though.
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Old 04-02-2018, 11:43 AM
 
10,375 posts, read 4,087,467 times
Reputation: 14606
Quote:
Originally Posted by Piney Creek View Post
I guess it all comes down to what you'd consider a decent place to live. I looked at all the examples provided and drew a different conclusion. They were ok, but I wouldn't actually want to live in any of those places. It might be partly due to my age. There were several in neighborhoods that I would have considered when I was in my 20s. I wouldn't want to be a senior there, though.
Of course if you can afford to purchase a nicer home you would. I think this is about buying what you can afford and what the alternatives are for living somewhere else like in your car. People have to make due. There's nothing wrong with that. If you can only afford to purchase or qualify for a $50,000 house then you make the best out of it and be proud you were able to buy a house at all. Those houses are livable. You personally may not like them but they are livable.
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Old 04-02-2018, 12:29 PM
 
Location: Here and there, you decide.
11,578 posts, read 22,679,105 times
Reputation: 3883
Quote:
Originally Posted by Winter Sucks View Post
Cleveland
Thatís too much for Cleveland. You can buy for much less. A gun is handy though
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Old 04-02-2018, 04:16 PM
 
Location: Washington state
4,680 posts, read 2,302,044 times
Reputation: 13681
Quote:
Originally Posted by Hemlock140 View Post
Sellers will price based on what they can get. In the current market, a tear down in a desirable area is still going to cost more than a nice home in a less desirable area. An acre here can have 8 houses or many condos built on it, half an acre 4 houses, so it’s priced accordingly and often bought by developers since buildable land is in short supply. They just consider the demo a small part of the cost since they can sell the homes at close to a million apiece or condos at $500k. I don’t know where you are finding those homes under $50k, other than mobiles in a park. We have looked and find even vacant lots way out in the country to be more than that.
See this one? It's 2 miles away from a paved road. The road leading to this "fixer" is the roughest road you'll ever go over. And as the mailboxes are at the paved road, you'd have to travel it back and forth just to get your mail.

Cost to remove this trailer: between $5000 and $10,000.

Now I ask you, does the property price reflect the location and make it worth tearing down the trailer?

But what I'm really talking about is a 6000 sqft lot priced at $50,000 with an uninhabitable house on it. This in an area where you can get this:


https://www.estately.com/46.2786,-12...21-e-curtis-st


https://www.estately.com/46.2786,-12...g-917-e-market


https://www.estately.com/46.2786,-12...e-market-st--2

Again, I'm looking for acreage and I for sure don't want to live out in Hoquiam or Aberdeen. But my limit is $30,000 and in Mason county I'm looking for lots over half an acre with water and I have found a few. You have to look for them, but they're there.

Last edited by rodentraiser; 04-02-2018 at 04:33 PM..
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