By: Joelle Andersen, TOMO

This is not a lie—buying a home is really expensive. It will most likely be the largest purchase ever made. So, it makes sense to try to find the most inexpensive home one could afford to reduce overall costs. There are many advantages to buying a property that is undervalued since it usually means that the house needs some type of improvement or renovation. Renovations are not as complex as many buyers think, and with some sweat equity, a buyer can upgrade the home to fit their style, decor, and needs, making that home more custom for them. 

Tomo, a real estate and mortgage company, looked at the most recent homes on the market and came up with this guide on some of the most inexpensive homes in Arizona. Here it is, broken down by city:

• Chandler, AZ: Chandler is a vibrant city known for its dynamic blend of modern amenities and rich cultural heritage. Located in the Phoenix Metropolitan Area, Chandler offers a thriving economy, excellent schools, and diverse housing options. It’s renowned for its annual Ostrich Festival, celebrating the city’s agricultural history, and boasts a range of recreational opportunities, from golf courses to parks and trails. With a welcoming community spirit and a strategic location near major freeways, Chandler continues to attract residents and businesses alike, making it a desirable place to live, work, and explore in the heart of the Southwest. Find cheap homes in Chandler, AZ. 
• Mesa, AZ: This bustling city is located just east of Phoenix, Mesa and offers a rich cultural tapestry, including vibrant arts and cultural scenes, diverse culinary experiences, and a deep-rooted history. Mesa is known for its annual festivals, including the Mesa Arts Center’s events and the Mesa Amphitheatre concerts, showcasing its lively community spirit. With a thriving economy and various housing options, Mesa continues to attract individuals and families seeking a dynamic blend of suburban tranquility and metropolitan opportunities in the Valley of the Sun. Find cheap homes in Mesa, AZ. 
• Phoenix, AZ: Phoenix is the fifth-largest city in the United States. Known for its year-round sunshine and stunning desert landscapes, Phoenix’s cultural scene is thriving. The city boasts diverse museums, galleries, and performing arts venues. Highlights include the Heard Museum, dedicated to Native American art and culture, and the Desert Botanical Garden, showcasing the region’s unique flora. There is much to do in Phoenix, from dining in its many restaurants to dancing the night away in one of the many nightclubs; Phoenix has something for everyone. Find cheap homes in Phoenix, AZ. 
• Scottsdale, AZ: With its picturesque setting against the McDowell Mountains and Sonoran Desert backdrop, Scottsdale remains a premier destination for those seeking a blend of luxury living, outdoor adventure, and cultural enrichment in the heart of Arizona’s Valley of the Sun. Find cheap homes in Scottsdale, AZ. 
• Tucson, AZ: Nestled in the Sonoran Desert, Tucson exudes a rich blend of history, culture, and natural beauty. As the second-largest city in Arizona, Tucson offers a diverse tapestry of experiences. Known for its vibrant arts scene, the city has numerous galleries, theaters, and the renowned University of Arizona Museum of Art. Tucson’s historic neighborhoods, like the Barrio Viejo, showcase its multicultural heritage through colorful adobe homes and vibrant murals. Find cheap homes in Tucson, AZ.

Tomo’s list can give buyers a headstart to finding cheap homes in Arizona, but here are some other quick tips on where to look for affordable houses for sale:  

1. Foreclosure Listings: Properties in foreclosure or sold at auction can sometimes be purchased at a significant discount. Websites like RealtyTrac or local foreclosure listings can help find these opportunities.
2. Real Estate Auctions: Attend local real estate auctions where properties are often sold at lower prices. Be sure to research the properties beforehand and understand the auction process.
3. Estate Sales and Probate Properties: Properties sold through estate sales or probate processes can sometimes be priced below market value. Local newspapers, real estate agents, or estate sale websites may list these opportunities.
4. Government Programs: Investigate government programs that provide affordable housing or assist first-time homebuyers. These programs can offer financial assistance or favorable loan terms.
5. Expand Your Search Area: Consider looking in neighborhoods or towns slightly further away from city centers or transitioning areas where prices may be lower.
6. Consider Alternative Housing Options: Depending on your needs, consider alternatives such as mobile homes, tiny homes, or cooperative housing, which may be more affordable than traditional single-family homes.
7. Network: Sometimes, word of mouth or local community groups can lead to opportunities to buy homes that are not widely advertised.
   

Remember, finding a cheap home often requires patience, persistence, and careful consideration of your needs and financial situation.

Published by: Martin De Juan