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Low Cost Houses?

Discussion in 'Financial Management & Budgeting' started by Jaxom22, Jun 23, 2014.

  1. Jun 23, 2014
    Jaxom22

    Jaxom22 Enjoys Recycling

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    I know they're out there. Every so often you'll see a news piece on cheap or free homes. Tried googling sources, but most links look shady or want a membership fee.

    I'm talking about empty homes that cities or states actually encourage you to take them over. This isn't about squatting, legally called "adverse possession".

    And before anyone gets cute. We're not interested in moving to or living in Detroit!
     
    baymule and BillSchi like this.
  2. Jun 23, 2014
    Denim Deb

    Denim Deb More Precious than Rubies

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    I've seen a few advertised, but they weren't in good locations. In fact the last one I saw advertised, locals said was in the red light district.
     
  3. Jun 23, 2014
    mrscoyote

    mrscoyote Almost Self-Reliant

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    Check on foreclosures and repo's in your area.
     
    rhoda_bruce likes this.
  4. Jun 25, 2014
    Jaxom22

    Jaxom22 Enjoys Recycling

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    I try as best as possible. Most places online are membership based. Same goes for sellers willing to do lease option contracts. I also keep tabs on Home Path for HUD owned properties.
     
  5. Oct 14, 2014
    Tuco

    Tuco Power Conserver

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    I never heard of adverse possession before. I look for cheap houses on www.zillow.com you can narrow down the search by price range (There's many for $10,000-$20,000, possibly less)
     
  6. Oct 14, 2014
    Tuco

    Tuco Power Conserver

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    chicken girl likes this.
  7. Jan 25, 2015
    Plantress

    Plantress Power Conserver

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    We found a cheap and lovely seasonal house in central NY. It's open from April until November and then the gates get locked. A great way to escape the Maryland heat and you can live pretty frugally up there in the summer!
     
  8. Jan 26, 2015
    baymule

    baymule Sustainability Master

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  9. Jan 26, 2015
    moxies_chickennuggets

    moxies_chickennuggets Almost Self-Reliant

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    DH and I found a bank repo on Zillow, back in 2010. We picked it up for cash... it was that cheap. :thumbsup
     
  10. Apr 2, 2015
    xoxocammyxoxo

    xoxocammyxoxo Enjoys Recycling

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    They are out there, I actually intend on looking into it in a few years to get us started in our first place. Contact counties you'd like to live in and ask for tax foreclosure information. In most counties that means you pay for whatever three years of back taxes are plus their processing/auction fees and the place is yours. I'm sure I don't have to tell you what comes with a foreclosure though with the repairs that may be needed. Most of these houses sit for a long time. The down side is you have to do a lot of research into these places. Most counties will only give you a parcel number and approximate location and an approximate auction starting amount. If they don't sell during the auction the county holds onto them and you can buy them directly from the county, in most cases. All types of properties go to auction. About 10 miles south of me 40 acres went up for sale for $56,000 and it was prime cattle property, just the house was unlivable.
     

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