Houses are expensive. Especially in densely populated urban areas. But there are some houses on the market that only cost a few thousand dollars.
Where can you find those dirt-cheap houses? One place we found for example is Bulgaria where you can get affordable houses, even some that are close to the beach.
Example: Cheap Houses in Bulgaria
Bulgaria is a country in the Balkans, Eastern Europe. It is bordered by Romania to the north and the Republic of Macedonia to the east. The country has a population of 7,6 million people and is one of the oldest countries in Europe.
Bulgaria offers beauty and history for all types of travellers willing to explore it. It is very affordable as well. For instance, a meal in a restaurant will cost you around 2 euros maximum, while accommodation will cost you anything from 10 euros per night for an apartment up to 50 euros per night for a hotel room with 4 stars. Bulgaria also has some remarkable festivals that are worth checking out – like the folk festival “Kukeri” during which participants dress up as masked characters with colourful outfits and dance around bonfires!
There are also many other reasons why you might want to consider property investment in Bulgaria such as:
– The country has a low crime rate
– There are plenty of opportunities for owning businesses
– Land prices are very low
4 Factors Affecting the Cost of a House
The cost of a house can vary in four main ways.
1) Location: the cost of a house will depend on where it is located. For example, a house right at the beach will cost you more than one in the middle of nowhere.
2) Size: the size of the property will also affect the price. For example, properties with a bigger backyard or more rooms might be more expensive than other homes with less space to offer.
3) Age: this factor is closely related to size and features but it also includes things like how old are the pipes? Or how new are the appliances? This is important because older homes might need lots of repairs and upgrades.
4) Amenities: another thing that affects housing prices is what kind of amenities, such as a pool or a gym, come with the property.
3 Ways to Make Your Home More Affordable
There are many simple ways to make your home more affordable. Here are 3 of them:
– Consider downsizing
– Look for a mortgage with a lower interest rate
– Consider walking away from your mortgage
– Consider to move to the Countryside
Downsizing is the most common way to make your home more affordable. The truth is that the size and space of your home can have an impact on its value. You could also look for a mortgage with a lower interest rate, which would help decrease the amount of money you spend each month. Lastly, it may be time to consider walking away from your mortgage if you have reached the end of what you can afford or if you are struggling to come up with additional funds.
Conclusion
Don’t look for a house that is bigger than you actually need it. Know what you can comfortably afford and then be flexible about the location as well as be ready to do some repair works yourself. Like that you will find cheap houses in no time.
Bio
Our Property under 20k team are the founders of www.all-real-estate.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries. We just love to have a good strong cup of coffee while we write our experiences in this blog.
Image by Martin Winkler on Pixabay