How to Find a Cheap Home

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By mizchulita
User-Submitted Article

Article Rating: (3 Ratings)

Cheap Home--This one costs $10,000

It is an excellent time to find a cheap home. If you are in the market to buy, you can use foreclosures to your advantage. The 4 bedroom home pictured costs only $10,000, and it is on the market right now! Granted, it is located in Detroit, which may give you pause. But it is proof that cheap homes do exist, and are in fact plentiful. I live in a cheap home (a 1920's Craftsman in a historic neighborhood) that I located using these steps.

Difficulty: Moderate

Instructions

Things You'll Need:

Internet

Step 1

Create an account with Realtor.com. Realtor.com can be your best friend when it comes to locating a cheap home.
Step 2

Set your search perimeters. Decide where you want to locate a cheap home. You can do this by zip code, and decide how far away from that location you are willing to consider.
Step 3

When the search results come up, order them by price, lowest first! You want to look at the cheapest homes on the market. After doing this for a while, you will get a sense for what is a good deal in your community.
Step 4

Since this is an article about cheap homes--not cheap houses for investment purposes--it is important that you investigate the neighborhood before you buy. Drive by the house at night, talk to neighbors and the police station. You want to make sure you're not buying a problem.
Step 5

Also get your potential cheap home inspected. Termites, electrical problems and plumbing issues can turn a cheap home into an expensive nightmare. You don't want to defeat your purpose of having low housing payments each month! Actually, if you find a home that is cheap enough, you may be able to pay cash. Now wouldn't that be sweet?