Cities in the US where you can buy a decent home for $50k or less? (condos, property)
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I have to agree that even if houses below $50K do exist in some cities, they will still be less than desirable. You might regret that purchase. It might be a better idea to rent. There are plenty of advantages to renting.
I think there have been enough examples provided in this thread to show this isn't always true.
My sister and Brother in Law bought a home in Arkansas for under $20,000. Not sure how big the lot is, I was thinking 5 acres. They have spent $40,000 to date fixing it up. For them this home is a hobby of sorts. They own homes in California and Arizona. My brother in law wants to retire to Arkansas and both of them love the home they are fixing up. I guess it can be done.
On a side note, realize that the area they bought has no jobs.
Either way, the OP didn’t specify the houses had to be in a desirable area. The only criteria were less than $50k and livable.
Nor did he state they had to be updated lovely newer houses. He's looking for a decent home that is livable. There have been more than a few examples here of that.
I don't know why some people don't understand that part of the conversation. People are responding as if they themselves are being forced to move and live in them.
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.)
A lot of people have that response to Camden, NJ. I've never understood why Camden hasn't become more desirable. There ARE little pockets of OK -- and even nice -- neighborhoods. I do recognize that. But by and large, the city is a crime-ridden place, with more than its share of burned-out, falling-down buildings. Pity, because it is just a short train ride (under 10 minutes) from Philadelphia, which has had much more of a Renaissance in the last 20-30 years. After the housing crash in 2007-2008, I was expecting a developer to buy up huge chunks of Camden and re-develop it, but it never happened. I actually do hope Camden has its own Renaissance, but I'm not holding my breath. It hasn't happened in the almost-40 years I've been living in South Jersey.
My sister and Brother in Law bought a home in Arkansas for under $20,000. Not sure how big the lot is, I was thinking 5 acres. They have spent $40,000 to date fixing it up. For them this home is a hobby of sorts. They own homes in California and Arizona. My brother in law wants to retire to Arkansas and both of them love the home they are fixing up. I guess it can be done.
On a side note, realize that the area they bought has no jobs.
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.
A lot of people get this impression that very rural is cheap, and that isn't necessarily so.
The town I work in is pretty much full blown Rust Belt. Drugs are everywhere. Crime is high. The house below is about a mile from a large paper mill. It smells awful most of the time. The job market is weak for anything about $15/hr or so. Would you want this house even though it's below $50k?
A lot of people get this impression that very rural is cheap, and that isn't necessarily so.
The town I work in is pretty much full blown Rust Belt. Drugs are everywhere. Crime is high. The house below is about a mile from a large paper mill. It smells awful most of the time. The job market is weak for anything about $15/hr or so. Would you want this house even though it's below $50k?
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.
Last edited by Yac; 12-03-2020 at 03:43 AM..
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I've never understood why Camden hasn't become more desirable. There ARE little pockets of OK -- and even nice -- neighborhoods. I do recognize that. But by and large, the city is a crime-ridden place, with more than its share of burned-out, falling-down buildings. Pity, because it is just a short train ride (under 10 minutes) from Philadelphia, which has had much more of a Renaissance in the last 20-30 years. After the housing crash in 2007-2008, I was expecting a developer to buy up huge chunks of Camden and re-develop it, but it never happened. I actually do hope Camden has its own Renaissance, but I'm not holding my breath. It hasn't happened in the almost-40 years I've been living in South Jersey.
