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?
Lithuania, Telšiai county
14000 Euros
4 rooms
66 square metres
25 ars of land
Link for even more curious
That sounds cheap as an American! Is it affordable with how much money Lithuainians make?
An average salary is 1250 euros, so it would be possible to save up enough in 3-5 years. Or save enough for a downpayment. However, a house like that would take twice the amount or more to become livable and the location is not the best.
A more decent home would cost between 50-100K, also possible on a mortgage with a decent salary, but not that cheap.
Houses next to big cities can get more expensive, but so do the salaries. Most city people don’t live in houses though, they go for apartments. Some of them are renovated. Mixed use buildings are also common.