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House Costs Just $20k-But It’s Nicer Than Yours

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Re: House Costs Just $20k-But It’s Nicer Than Yours

#21

Post by zorak8me »

olliej wrote: post #6

The bulk of a "house" price in populated areas is the cost of the land . That's why rundown, dilapidated, etc "homes" in the Bay Area are so expensive. You're paying for the land. So a $20k home is still going to cost you a stupid amount. If you go out to the middle of nowhere, you can get huge, and amazing, homes for less that $100k (because no one wants to live there).

> If you go out to the middle of nowhere, you can get huge, and amazing, homes for less that $100k (because no one wants to live there).

Median home prices in flyover country start at $100K (West Virginia) and max out around $300K (Colorado, Nevada, etc.). "Huge and amazing" is probably 3x that.

Re: House Costs Just $20k-But It’s Nicer Than Yours

#22

Post by curryst »

Jsharm wrote: post #19

Why does a mortgage cost the bank $2300?

I'm guessing those are administrative costs related to servicing the loan. Doing due diligence on whether you're credit worthy, filing the paperwork, maybe some form of insurance.

$2,300 does still seem high for that, though. I would love to see that broken down.

Re: House Costs Just $20k-But It’s Nicer Than Yours

#24

Post by bayouborne »

hindsightbias wrote: post #18
kevindong wrote: post #7

I'm curious about why they decided to design a one bedroom home. In my midwest hometown of ~10,000 people (which was also the biggest town for ~12 miles in any direction), one bedroom homes essentially don't exist (I checked Zillow and there's exactly 4 listed as for sale or recently sold).

Rural Studio typically does projects scaled to elderly, disabled and poor who would otherwise be renting mobile homes. The goal is to make them home owners with a durable asset. Also the scale of the projects allow it to serve as a thesis project for Architecture students.

It's ironic that it's situated in Serenbe, an exclusive $300k-$1M+ 'new urban community' that, despite its efforts to appear otherwise, is designed for anyone other than the common person.

Re: House Costs Just $20k-But It’s Nicer Than Yours

#25

Post by olliej »

zorak8me wrote: post #21
olliej wrote: post #6

The bulk of a "house" price in populated areas is the cost of the land . That's why rundown, dilapidated, etc "homes" in the Bay Area are so expensive. You're paying for the land. So a $20k home is still going to cost you a stupid amount. If you go out to the middle of nowhere, you can get huge, and amazing, homes for less that $100k (because no one wants to live there).

> If you go out to the middle of nowhere, you can get huge, and amazing, homes for less that $100k (because no one wants to live there). Median home prices in flyover country start at $100K (West Virginia) and max out around $300K (Colorado, Nevada, etc.). "Huge and amazing" is probably 3x that.

What I’m hearing is that a huge and amazing place is cheaper than many small apartments in the Bay Area :)
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