I just want a 1bedroom 1bathroom apartment and something under 700 a month. Are there small houses that you can buy for a cheap monthly rate?
Oh, and I would prefer a cheap monthly rate over a cheap overall price.
2006-09-17 14:16:07 · 5 answers · asked by 42yxalag 3 in Business & Finance ➔ Renting & Real Estate
It depends on where you live. I was BUYING a 3 bedroom, 1 1/2 bath house for $311 a month, financed for 11 years. Utilities were about $100 to $160 a month. Taxes were about $500 a year. You can't beat that.
2006-09-17 14:25:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depending on which state you live in and your credit status, you may want to go to homesteps.com and check there to see if there are homes available in your area. They are primarily foreclosed properties, so they need to be checked out. If you can qualify for there financing, the closing costs are minimal and the interest rates are very competitive. If you go for a condo or townhouse, you really need to check the Homeowner's or Maintenance fees....I agree with the Ray, the additional fee on top of a mortgage payment can be killer. What's your reason for wanting only a 1 bedroom, 1 bath?? Finding a house that small may be a bit difficult and the resale potential will be horrible. Check into a 2 bedroom and use one for an office or even a storage room or closet. Good Luck
2006-09-17 21:40:00 · answer #2 · answered by Grannie 3 · 0⤊ 0⤋
It all depends. It depends on the city you live in, the district -- the surrounding areas -- the size of the condo -- the state of the repair inside and outside. Then you had a second question --small houses that you can buy for a cheap monthly rate -- do not exist as such. My suggestion is to read a few real estate books --and to go around in your neighborhood and ask agents to show you houses -- in the price range you can afford. Good luck.
2006-09-17 21:21:59 · answer #3 · answered by s t 6 · 0⤊ 0⤋
I live in a nice condo but the maintenance fee is the killer... our mortgage is low but the maintenance is another $200 or so per month. Take that into consideration that your mortgage is tax deductible but not the maintenance fee.
2006-09-17 21:18:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
i paid only $26,000 cash for a one bedroom, finished basement, central A/C, patio, new windows, new kitchen ranch and pay $252 monthly maintence for inside and out gas included- heated pool
Look for co-ops in your area
2006-09-17 21:25:32 · answer #5 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋