Cheapest Homes in Maryland

Searching for the cheapest homes in Maryland is a mixed bag. If you're looking exclusively in the Baltimore area, you're likely to find a number of good options for your price range. If you're searching through some of the other big cities in Maryland, you might not be so lucky. While Silver Spring and Waldorf might be different, Germantown has little in the way of affordable homes.

Cheapest Homes in Baltimore

Several HUD homes in the Baltimore area are quite cheap. You'll find a 4 bedroom, 1.5 bathroom home at 3204 Stafford Street selling for $18,000. Other similar properties include a 3 bedroom, 1 bathroom residence at 424 South Bentalou with an asking price of $14,300. Both of these homes have extended listings, so they're available to anyone who wants to make the purchase.

One new home on sale is a 4 bedroom, 2 bathroom home at 12008 South Scottich Court, which has a listed price fo $46,464. Another property in the same price range is a $52,000 price tag on a 2 bedroom, 1 bathroom little white house at 3 West Pennsylvania Avenue. The price just went down on this listing. From the look of things, I'm guessing this house comes with a lot of land, perhaps indicating why the price is a little higher on this one.

HUD has several houses in the same range. 2402 Ridgely Street has a 3 bedroom, 1 bathroom house selling for just over $55,000. 4800 Richard Avenue has a 3 bedroom, 1 bathroom house selling for $56,700. Then there's the house at 10 Frost Avenue, which offers 3 bedrooms and 1 bathroom at a price of $68,000.

More Cheap Homes in Baltimore

Some of the cheapest places to buy in Baltimore appear to be foreclosed apartments for ownership. I guess you would technically call these condominiums, though the outward appearance reminds one more of brownstone apartments than swank condos. I found a series of these homes for sale through a foreclosures site, mainly in auctions. The cheapest place for sale in Baltimore was an $11,200 flat on Jefferson Street, which has 2 bedrooms, 1 bathroom, and 1,260 square feet. I also found was a $16,000 apartment on North Glover Street with 2 bedrooms, 1 bathroom, and 1,040 in floorspace.

Along the same lines, you could buy a 4 bedroom, 3 bathroom residence on Boone Street for $35,000--also on auction. In the more standard neighborhood along Appleston Street, you can buy a 3 bed, 2 bath single family residence for $29,200 in a similar auction.

How Do Foreclosure Auctions Work?

The many auctions for foreclosed properties in Baltimore gives me a chance to discuss something I've passed over on this site until now. You might be wondering why I give an amount when an auction is in place. Here's how a foreclosure auction usually works, though your local auctioneers might have a slightly different procedure.

When a property goes on auction, it's usually auctioned in the county where it's located. This auction is usually planned at least a month out. During that time, the previous owner has time (usually one month) to reclaim the property. That's the amount usually listed--the amount the previous owner must come up with to make certain it doesn't go to auction.

If this doesn't happen, then the auction takes place to decide what the new price is. Two different expectations tend to prevail in these situations. One, a home buyer must come to the auction with the full price they're willing to pay in the form of cash or money order. Two, the home buyers must bring only 10% of the amount they are going to bid. Call ahead and make sure which of these two stipulations are in place.

Cheapest Homes in Columbia

Columbia is the second largest city in Maryland with a population right at 100,000, but Columbia doesn't have many inexpensive house listings at the moment. The cheapest deal I could find was a 1 bedroom, 1 bathroom house on the Twin Rivers Avenue with 1 bedroom and 1 bathroom selling for $92,000. The property's address says "apartment", so this may be an expensive condominium you're looking at.

Cheap Homes in Germantown

As far as I can tell, you won't find too many cheap homes for sell in Germantown at the moment. The cheapest listing I could find was a 2 bedroom, 2 bathroom house on Zinnia Cir selling for $149,000. This house has 960 square feet, so unless this place comes with a free maid and butler, I have a hard time seeing this place selling soon. It doesn't look like a real upscale place from the outside. Even the HUD website only lists a 3 bedroom, 1 bathroom house on Mustard Seed Avenue selling for $140,000--and this is an exclusive listing.

Maryland's Inexpensive Houses

When you can't find a deal you like, keep checking to see if the kind of property you can afford comes on the market. Across the great nation of hours, you'll find foreclosures happen every week, so the cheap home you're looking for might be on sale the next time you look.