Cheap Homes in Costa Mesa

Is it possible to buy a Cheap Homes in Costa Mesa? under $300K? Under $400k? Yes, it is possible, but it can certainly take a little more than a paint brush, a hammer, and a screwdriver.

 

At any one time, there will usually be some cheap homes in Costa Mesa around $300,000. Are there true homes? The best answer that I can give you is – sometimes. These are the homes that will definitely be a contractor’s dream. They will need a significant amount of refurbishing; certainly more than just a fresh coat of paint and new carpet. The homes that fall into this category will typically need at least $50,000 of rehabilitation/repairs if you are not a contractor. I am considering that cost to include materials and a contractor’s time and labor to bring a home back to life. Many homes that fall into this category might even have some settling and need foundation repairs due to the nature of Costa Mesa having expansive soil and some settling issues.

 

There are lending products that will help with repairs- check out options for a 203k loan with your favorite mortgage broker or lender. These are wonderful loans because the repairs can all be thrown into the loan and you don’t have to come out of pocket to make major repairs.

 

You got it! Most of what you will find in this price range will be condos that are at a reasonable price. Some of them will not need major work, but most of the condos in this group will need a little sprucing up with things like paint and carpet.

 

Be careful, because some of the prices are deceiving. Many of the homes that will fall onto this list will be on leased land. I talked all about the positivies and negatives on a past post if you are curious.

 

Overall it’s great that our city has these lesser expensive options- take time to look through them. The biggest benefit to the cheaper housing? Living close to the beach, entertainment, and all the wonderful conveniences that Costa Mesa provides.

 

Colin Delaney can be reached at (714) 743-9882 or by email.