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?

  • V0uges@jlai.lu
    3·
    9 months ago

    I know, I’m Swiss and now I live in a country where no one bats an eye when I say I buy studio flats for when my kids will be students and want to live in the city and in the meantime rent them out. The 30k is the auction starting point. But if I could grab it for less than 60k and the have a cost total of 90k max with reno works, that would be splendid.