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?

  • ℕ𝕖𝕞𝕠@midwest.social
    1·
    9 months ago

    I bought my 3BR 1bath SFH, west side of Chicago, for $61K… kinda. To be actually livable it needed another $21K in immediate repairs (electric, plumbing, HVAC).

    Luckily I refinanced right before inflation went crazy, so my total mortgage + escrow is $945/mo.

    We also looked at a 3-flat building for $2K, but it had a $10K lien on it and all the copper had been stripped, sooooo