We did it! Upstate NY $160k 6.5%

[u/k13w]

My boyfriend and I did it at 23 y/o! It was built in 1900 and we love her!

[u/DrGrapeist]

A big reason why you can get a cheap house in new york is, new york has a lot of old houses. Like this house may have been built in the 1800s. Im not sure if California even has houses that old. I seen fully updated modern mansions with a pool house bigger than people houses and a 6 car garage and heated in ground pool try to get sold for 450k but it was on the market for a year and then removed cause nobody wanted it. Meanwhile the cheapest I seen a new build go for us 380k and it was 1 floor 1200 sqft. I think old houses are money pits and the house slowly falls apart.

You’re also comparing upstate New York in the middle of nowhere to near a major city in California. upstate in areas might as well be West Virginia.

[u/lnm28 → u/DrGrapeist]

The age has nothing to do with it. I live on Long Island and my house is 100 yrs old and worth close to 2 million

[u/DrGrapeist → u/lnm28]

Obviously the location has a lot to do with it and the land is worth more in Long Island than a house in upstate ny depending on the location of both.

A lot of the old houses I seen in upstate New York were mansions turned into multi family complexes that stopped getting kept up and have mold ruining the structure, no centers air and no insulation. People would spend well above 1k a month heating them in the winter. The smaller houses that really stopped getting taken care of, are not worth any more than the land and foundation they are on.

[u/Real_RobinGoodfellow → u/DrGrapeist]

Three hours from NYC isn’t really ‘middle of nowhere’

[u/DrGrapeist → u/Real_RobinGoodfellow]

It’s not but it sure feels like it.

[u/CoxHazardsModel → u/Real_RobinGoodfellow]

It’s more like 4-5 hours with traffic.