Forwarded from Dull Academic Incessant Liturgical Yapping: Philosophical Orations on Order & Reaction
A vacant house in Ann Arbor, gutted, dilapidated, and untouched for 50 years, is priced at $400k.
The value of being near urban centers is often overlooked when comparing the prices and quality of homes in different regions. Ann Arbor's status as a major city elevates its property prices, irrespective of condition.
Factors include:
- Higher demand and prestige of cities generally.
- Limited land for new developments boosting existing property values.
- Cities offer numerous amenities, from transport to entertainment, increasing demand for housing.
- The concentration of specialized job opportunities in cities attracts professionals, driving up prices.
When people see the homes The Daily Poor posts for under $100k, they often jump to conclusions, associating price with quality. They might assume that these properties, being less than ¼ of the price of the Ann Arbor home, must also be less than ¼ the quality, and thereby plagued with major issues. In reality, many homes in decent or even great condition are priced lower primarily due to their rural location, where the dynamics of real estate differ significantly from urban centers. Often, it's not that the homes are low quality, but just that they're in rural areas.
Because of this, there's affordable livelihood available for those who do not prioritize urban living. There are easily affordable homes available for those who prefer the quiet and connectedness to nature that rural areas offer. Those who can cast aside the desire for city jobs and amenities, those who can embrace a quieter life, can also enjoy the affordable, often beautiful homes in the countryside, without the city property price tag.
The value of being near urban centers is often overlooked when comparing the prices and quality of homes in different regions. Ann Arbor's status as a major city elevates its property prices, irrespective of condition.
Factors include:
- Higher demand and prestige of cities generally.
- Limited land for new developments boosting existing property values.
- Cities offer numerous amenities, from transport to entertainment, increasing demand for housing.
- The concentration of specialized job opportunities in cities attracts professionals, driving up prices.
When people see the homes The Daily Poor posts for under $100k, they often jump to conclusions, associating price with quality. They might assume that these properties, being less than ¼ of the price of the Ann Arbor home, must also be less than ¼ the quality, and thereby plagued with major issues. In reality, many homes in decent or even great condition are priced lower primarily due to their rural location, where the dynamics of real estate differ significantly from urban centers. Often, it's not that the homes are low quality, but just that they're in rural areas.
Because of this, there's affordable livelihood available for those who do not prioritize urban living. There are easily affordable homes available for those who prefer the quiet and connectedness to nature that rural areas offer. Those who can cast aside the desire for city jobs and amenities, those who can embrace a quieter life, can also enjoy the affordable, often beautiful homes in the countryside, without the city property price tag.
Forwarded from Dull Academic Incessant Liturgical Yapping: Philosophical Orations on Order & Reaction
Another very strong example of the phenomenon described in the post I'm replying to. This home in Portland, OR costs $250,000.
Folks will often tell me, "That home is only $70,000, it must have major issues."
This is true if it's in a profitable area.... But often, the biggest "issue" causing a home to have a low price is that it's in a low demand area.
Location, location, location. Avoid the locations in high demand, and you can buy cheap.
Folks will often tell me, "That home is only $70,000, it must have major issues."
This is true if it's in a profitable area.... But often, the biggest "issue" causing a home to have a low price is that it's in a low demand area.
Location, location, location. Avoid the locations in high demand, and you can buy cheap.
Forwarded from Dull Academic Incessant Liturgical Yapping: Philosophical Orations on Order & Reaction
On the other hand, $250k in a poor area gets you a beautiful 4 bedroom house on 40 acres with farmland equipped with a chicken coop, various pens and fencing, and automatic watering systems, acres of forest with walking trails, and a stream running through it
Dull Academic Incessant Liturgical Yapping: Philosophical Orations on Order & Reaction
Anyone in the market for a small $20k starter home?
Now compare the $20k Ironwood house to the $240k Tacoma house
Forwarded from Theodulfo Borfoni
I think if you pour a circle of Comet-brand cleaner to keep rats from biting your face while you sleep on the floor curled in the fetal position, it's almost livable
Dull Academic Incessant Liturgical Yapping: Philosophical Orations on Order & Reaction
Anyone in the market for a small $20k starter home?
Want something a bit bigger? In a bit better shape?
This 2 bedroom home is going for $40k.
This 2 bedroom home is going for $40k.