Owning a home is a dream for many folks. If you're among them, you may be wondering where you should start your journey. When you're buying a home, many factors come to play. You have to consider the security of the location, the level of development, the social opportunities, and availability of government and educational services, among other things. However, the ultimate decider of where to purchase your home is likely to involve your pocket. It's important to look for a house that falls within your range of financing. Even if you are going for a mortgage, you should have a certain level of assurance about your ability to pay it to the end.
In this post, we are going to look at some of the places here in the US and outside the country where you can easily afford a cheap house. In some localities, house prices are so low that a college student can comfortably buy one. However, we will also consider other parameters to ensure that you do not get a raw deal. Here are the cheapest places to buy a house, based on median house prices.
1. Buffalo, NY
Probably, you did not expect to find any New York neighborhood on this list. Well, you are lucky and you should grab your chances as quickly as possible. Buffalo has a number of neighborhoods where you can purchase a home for as low as $40,000. The median home price in Buffalo is $51,000 according to the real estate giant Zillow. Since the collapse of the real estate sector in 2006, property prices have remained low in some areas of Buffalo. You can start your search along the City's east side and the northern neighborhoods.
2. Toledo, OH
Toledo Ohio is another place you may want to purchase your home if you have a low budget. The beauty of Toledo is that it is a revitalized town with a booming central business district. The house prices in Toledo fell in the 1980s due to a struggling economy. However, the town has managed to pick up is pieces and put its act together. They have a minor league baseball stadium and a hockey arena. The town looks beautiful with restaurants, walking trails, and an amazing landscape. The median house price in Toled is $51200 but you can purchase a ready to move in house for as low as $35,000.
3. Cleveland, OH
Home prices in Cleveland have dropped by about 25% since the market started crashing in 2006. Today, the median house price in Cleveland is just below $50,000 but you can purchase a ready-to-move-in house below $40,000 in some neighborhoods. Among the most popular estates is Forest Hills, which sits on the former 700- acre estate of John D. Rockefeller
4. Tampa, FL
Another surprise on our list of the cheapest places to buy a house is Tampa Florida. This is understandable given that the median house price in Tamps is $120,000. Even with such a median price, Tampa is still it is among the cheapest places to buy a house in Florida. The crash in the real estate market might have created some room for those who wish to buy a home in Florida. Home prices in some neighborhoods are very low. Case in point, most houses in the St Petersburg area sell for just bellow $40,000. If you think that this is an area you would love to relocate to, you can do your survey and find yourself a comfortable home.
5. Sydney and Cape Breton County, Nova Scotia, Canada
Besides the US homes that we have seen, you may also want to move to a suburb or an uptown home in another country. If you are a person who enjoys traveling and you would rather buy a home outside the US, then the Canadian city of Sydney in Cape Breton Island may interest you. Although the average housing prices in Canada are considerably high as compared to some places in the US, you may still be able to find a decent home here at affordable prices. The median price for a home in Sydney is just below $98,000. However, you may also buy a home in this area for as low as $70,000. This is considerably low for a developed area on an island.
6. Australia Affordable Homes
While you may not fancy moving to a colder country, you may love the idea of moving to a much hotter one. Australia has some of the beautiful cities in the world and a fascinating natural landscape. Even in the land of the kangaroos, you may also land on a deal too good to let go if you research well. Some of the developed localities with a cheap house in Australia include Andamooka, for those who wish to move to South Australia. The median house price here is just $34000, with the possibility of purchasing a ready to move in a home for less than $20,000. If you wish to move to a more developed region, you may want to consider Tasmania in Queenstown, where the median price is $67,000, or Dysart Queensland where the median house price is $75000. In essence, with a budget of just about $50,000, you can purchase a decent house in any part of Australia.
7. Newcastle, United Kingdom
The UK is one of the places that most Americans love spending their time. While you may have a desire to move to the UK permanently, you should keep it in your mind that housing is not cheap there. One of the cheapest places to buy a house in the UK is Newcastle- Under Lyme, where the median house price is $63,500. In this region, you can buy a house for just below $60,000, but that is the lowest it gets.
As you can see, you do not have to be a millionaire to own a home or relocate to another country entirely. There are many places where you can find a decent home on a budget. From as low as $20,000, you can purchase a house in Australia or the US. You can purchase a house in many other localities at just above $40,000. Good luck in your search!