Quote:
Originally Posted by photoLith
I would only consider buying of those houses if they were under 35k. 100,000 is insane. The reason people live in small places usually is because they are cheap, 600 bucks a month for one person isnt cheap. After utilities it would be about 800 a month for 300 some odd square feet. Thats crazy.
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At $35K, your monthly payments would probably be around $250. While that would indeed be very attractive, I don't see why it is necessary to get the monthly payments that low in order to have a market.
Again, people are apparently paying $1150-$1295/month for 510 sqft studios in a nearby location. Many other people probably also think that is insane, crazy, and so on, but that's a market reality.
So if you actually like the smaller inside space but more outside space configuration (and again, some people won't like that, but others will), then with the extra $600-700+/month you could save, you could cover utilities, a maid, a gardener, a handyman, a club membership, your groceries, maybe a car payment . . . again, I really don't see what is so hard to grasp about the appeal here.