There are some homebuyers willing to tackle a fixer-upper. Some want a home that is shiny and new with improved chances that nothing will break anytime soon. Yet many Americans are struggling to raise a down payment for a median-priced home, regardless of the home's condition. But if you consider a home priced under $100,000 at today's low interest rates, one could pay less than $500 per month, including private mortgage insurance and property taxes.
"Remember the mortgage payment is only part of the battle; don't forget to account for taxes, insurance, association dues, maintenance and repairs," says Patrick Bet-David, a financial adviser formerly with Morgan Stanley who is now President-CEO of PHP, a financial services company. He also advises: "Don't even consider buying a home until you have at least 12 months of mortgage payments saved at a minimum. That might seem like a high number, but it will prevent stress and aggravation down the road."
This two-bedroom, two full-bath, town home on a wooded lot is a short walk down to a boat launch in an area that feels like you are on vacation, according to its listing. The virtual tour shows that this newly painted 1981-built home, with new flooring, has slider doors to the deck. There is even a storage closet set onto the deck. The kitchen of the 1,150-square-foot home is spacious, with a pass-through to the informal dining room.
Granted this four-bedroom, three-bath short sale is up for auction with a starting bid of $90,000 and could easily sale for more. But you just never know. The 2,418 square foot house has a spacious kitchen with natural stone-top center island and an eat-in kitchen adjacent to the dining room -- which has a double-sided fireplace overlooking the living room. The master bedroom is separated from the others by a long walkway that opens to a space wide enough for a lounge area or office. But wait until you see the master bathroom ...
The L-shaped master bathroom has a round-glass block shower, a step-up oval bathtub and a separate room for the toilet. This house is open from 1 to 3 p.m. on May 31.
Walk through the arched entrance way from the driveway and inside this two-bedroom 1980-built home with bamboo and tile flooring and you’ll find a kitchen with built-in desk, slider doors off the living room and off of a bedroom. Both bedrooms have their own baths.
The 1,387 square foot house was previously sold in May 2010 for only $59,700. Look at how much your value could appreciate. Even the garage has been updated to include drywall and built-in storage. The open house is from 11 a.m. to 3 p.m. on Sunday, May 25.
This four-bedroom, 2.5-bath, tri-level home with finished basement, has an attached-two car garage with lots of storage space. If you can overlook the wood-paneled walls in the lower-level, you'll see charm in the dormer windows at the front and back of the house. The 1,500-square-foot house also has an enclosed porch and covered patio. It's set on a cul-de-sac. Just follow the road to the 1994-built yellow house. Open house is 10 a.m. to 1 p.m. on May 31.
This brick house is about 110 years old, but the three-bedroom, one-bath home doesn't look a day over 60. The large living and dining rooms are perfect for entertaining or relaxing, according to the listing. The kitchen is spacious and includes a bar-height counter. The first floor also has a large bedroom with lots of closet space. Upstairs are two more bedrooms, one with a walk-in closet. The owner has also added insulation to the second floor to make it more energy efficient. But wait until you see the staircase in the next slide....
In addition to the tall ceilings and extra large windows throughout the first floor of this home, there is gorgeous wood staircase with an ornate banister leading to the second floor.
The backyard has a paver patio with a fire pit, a unique trellis for planting, and several flower beds. There is an oversize two-car garage. The open house is from 12 to 2 p.m. on Saturday, May 24.
Built in 1940, this for-sale-by-owner home was recently renovated. The two-bedroom, 1.5-bath house has an enclosed porch, updated countertops and appliances. There also are hardwood floors throughout the 1,000-square foot home, with new carpeting in the bedrooms. There is a detached two-stall garage. Open house is from 3 to 5 p.m. on Sunday, May 25.