World's cheapest house said to cost under R20!
What's the catch?
When you are in the market for a home, whether it is a new build, a fixer-upper or renovating your existing residence, there is always a cost factor to consider.
HGTV (a channel dedicated to House and Garden content on DSTV) shows us some great shows that feature homes that just need money and some tender loving care with a splash of vision.
And this time we get to see something of a phenomenon when it comes to a home that is still standing and is retailing for a whopping $1 (R18.62).
A property located in the state of Michigan, USA is being hailed as the cheapest house in the world. It has two bedrooms and one bathroom is over 700 square feet.
It was built in 1956 and isn't in that bad of shape.
Check out some pics from the home below, courtesy of Zillow.com.
For more from East Coast Radio
"An estate agent, Chris Hubel revealed to a local news source that the new owner needs roughly $20,000 (R372,000) to “fix” the house and around $45,000 (R837,000) if you are using a company to assist with “repairs”." (MSN)
So, in essence, it is all about perspective. Either way, you will need a large sum of money to undertake the renovations.
It does serve as a great story though, buying your home for under R20 and turning it into your masterpiece.
The thing about renovations or fixer-uppers, is the unseen factor.
You can buy a home for under R20 but the unforeseen problems that can be revealed as you renovate may be more costly than purchasing a new property or building from scratch.
Image Courtesy of Zillow.com