A nice house for <$10K?
Out of context: Reply #5
- Started
- Last post
- 13 Responses
- d_rek0
I live in Michigan and bought a house back in July 2011 in a fairly rural area that is about 45 minutes outside of Downtown Detroit.
For under $70k I got a bungelow-style 1550 sqft house that was built in 2006, tucked away in a nice sleepy subdivision. It has an unfinished basement that runs the length/width of the house. 1st floor is master bedroom with a master bath, kitchen, laundry, guest bath and living/dining room combo area. 2nd floor is 2nd and 3rd bedroom and another full bathroom. I don't have a garage but I do have a modest sized shed on the lot. The yard is also modest... but with a 6-month old the less yardwork right now the better.
The value of the home dropped about 10% since I bought it (sigh, i know). But there are some *amazing* deals in MI right now. I expect in 5 years or so to be able to sell it for at least what I paid.
If you must live in the City of Detroit there are some mind-blowing home prices, like $5-10k for a lot of square footage... but... just keep in mind taxes are way high because of corrupt-ass city government and massive population loss. Also, it's real hit-or-miss... and you'll probably be putting more money to bring any of those homes upto code than they cost to purchase.
I personally wouldn't live in Detroit... but one of the surrounding burbs like Royal Oak, Clawson, Troy, Sterling Heights, etc are all like 20-30 minutes from the downtown area and are all generally pretty nice places.