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my husband and i live in a apartment but want a house for less than 34,000 is that possible?

Forclosed is alright also, a fixer upper too.
(0) | asked by: Elizabeth Burt | share | 3 months ago | Report
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answer by Rachael Grover-Anderson   |   Visit My Website   |   Contact Me
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It is definitely possible, but it will be fixer upper. When buying a foreclosure in this price, it can be difficult to find a lender that is willing to take on this low of a purchase price. There are special programs for first time home buyers that you may be able to take advantage of. I would suggest talking to a loan officer to find out for sure what you qualify for, and if they can in fact finance you with a lower mortgage amount. Patience and persistance are key to your search!
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answer by Julianna Sandin   |   Visit My Website   |   Contact Me
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When you are looking at homes you should be considering what your monthly payment would be compared to what you are currently paying. Did you choose this $34,000 because the payment would be the same as what your rent is? You also would be able to take advantage of the interest tax deduction at the end of the year, and being able to personalize the home as your own.
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answer by Derrick Guevremont   |   Visit My Website   |   Contact Me
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I have seen homes priced for less than $34,000 in Rochester and actually been surprised a few times at the shape they are in. You can expect to at least replace most of the flooring and paint all of the interior, but also be prepared to purchase appliances and repair windows, plumbing, and electrical. One option in this price range would be to consider a condominium. You may get a good buy but are often going to pay association fees.
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answer by Don W Bradley   |   Visit My Website   |   Contact Me
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Yes, in the past 12 months 25 homes in Rochester, MN sold for less than $39,000. The median sale price was $30,000. And yes, all of these but two were foreclosure property that very likely needed repairs and updates. Due diligence and a reputable home inspector would be money well spent when considering a foreclosure property.
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Linda Odden
answer by Linda Odden   |   Contact Me
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I have seen homes for sale in that price range. They do not become available very often but they do exist in Rochester. They are seen a little more frequently in the smaller communites that surround Rochester.
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