5 places where you can buy a condo for $100,000

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5 Things You Must Do Before Buying a Condo

Buying a home, no matter what it costs, is a massive purchase. This is especially true in big cities, where space is hard to come by and, as a result, comes at a premium price. One of the biggest ways to save money when buying in an urban area is to think on the smaller side, making condominiums an appealing option. And in places like New York City where smaller is the norm, condos can offer more flexibility for buyers than co-ops sometimes can, with fewer restrictions on things like subletting.

Condos are individually owned homes in multi-unit buildings, and just like houses and apartments, they can vary widely in price. Finding an inexpensive condo isn't easy, because they tend to be more common in dense cities with high property values, but it's not impossible. Using Zillow's property search tool, we looked at condo prices in some of the country's biggest urban areas and found plenty of places listed at $100,000 or less. We didn't include foreclosed homes or those up for auction, though such properties can sometimes be an opportunity to get a significant discount on a home.

Of course, the listing price doesn't mean that's what you'll pay. Homebuying often involves a fair amount of negotiating, and there's more to what you'll owe than the home's sticker price. There's the down payment, mortgage fees and closing costs to consider when putting together a homebuying budget, not to mention the condo or homeowners association fees that sometimes apply in condo living. And your credit score will impact how much house you can actually afford. (You can check your credit scores for free on Credit.com to see where you stand.)

Still, listing price has a huge impact on the overall cost, and if you look hard enough, you can find some decent and affordable condos.

Indianapolis, Wynnedale neighborhood

Listing price: $79,900
Details: Two bedrooms, two bathrooms, 1,362 square feet

Chicago, Avondale neighborhood

Listing price: $99,900
Details: Studio, one bathroom, no square footage listed

Phoenix, Northern Lanai neighborhood

Listing price: $64,900
Details: Two bedrooms, one bathroom, 924 square feet

San Antonio, Woodlake neighborhood

Listing price: $68,000
Details: Two bedrooms, two bathrooms, 1,253 square feet

Chicago, Old Irving Park neighborhood

Listing price: $95,000
Details: One bedroom, one bathroom, 600 square feet

Related: 13 features all homeowners want

13 PHOTOS
13 features homeowners want the most
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5 places where you can buy a condo for $100,000

1. A laundry room (92%)

2. ENERGY STAR® appliances (90%)
3. Exterior lighting (90%)
4. ENERGY STAR® rating for whole home (88%)
5. ENERGY STAR® windows (87%)
6. Ceiling fan (86%)
7. Patio (84%)
8. Full bathroom on main level (83%)
9. Hardwood on main floor (82%)
10. Insulation higher than required by code (81%)
11. Garage storage (81%)

12. Table space for eating in kitchen (80%)

13. Walk-in pantry (80%)
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Want to check out five more neighborhoods where you can get a condo for under $100K and get links for all the listings? See the full list on Credit.com.

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This article originally appeared on Credit.com.

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