Home prices in California reached a new record high in April as sales increased despite elevated mortgage rates and the state’s seemingly insurmountable housing shortage. The median price of …
My mom bought a tear-down for less than $100k in a small Southern city last year. It really needs a shit ton of work and we’ll probably sink another $200k into it over the next 10 years. We are basically going to replace the entire house, in stages as we can afford it. But the point is that 1) she can live in it during this time, and 2) she’s building equity in it.
Still, I’d rather rent in California than own in the South. Good for her though.
Ah, so it’s a tear-down
My mom bought a tear-down for less than $100k in a small Southern city last year. It really needs a shit ton of work and we’ll probably sink another $200k into it over the next 10 years. We are basically going to replace the entire house, in stages as we can afford it. But the point is that 1) she can live in it during this time, and 2) she’s building equity in it.
Still, I’d rather rent in California than own in the South. Good for her though.