Affordable Homes in Sedona AZ
many folks consider retiring in Sedona Arizona and due to the brilliant landscape and typography of this area, Sedona makes a beautiful place to call home, retire or any stop along the way. We get calls occasionally from people that think Sedona is full of luxury estates far out of the realm of affordability that affordability to one person may not be to another the definition of affordable real estate simply means that no more than 30% of one's income goes towards housing. If a household makes $100,000 a year no more than $30,000 should be built up into housing costs such as mortgage payment, taxes, insurance, and utilities. This would roughly be $2200-$2500 per month on housing costs.
The median list price in Sedona is currently $375,000.
The median sales price is $347,000.
The average listing price however is $756,000.
With the median list price of $375,000 and a 20% down payment and 5.25% interest over the life of a 30 year loan the total monthly payments including property taxes and homeowners insurance would be $2062. Add in the cost of utilities and you're right about $2200-$2500 mark.
Of course there are many homes under the median sales price and several single-family homes starting at just $150,000. Of course, if you're starting out with a new home purchase and you've never bought before you might consider starting with a condominium or townhouse that requires minimal maintenance. It's a great way to get started towards homeownership as you can ease into the home responsibility.
Sedona is also known for luxury real estate. There are beautiful luxury estates on a 5 acres or more $40 million but that's hardly affordable unless you're a multimillionaire.
With RE/MAX Sedona we specialize in helping folks from all walks of life and all income levels find an affordable home that meets their tastes, needs and budget. We would love to speak with you about an affordable home in Sedona or surrounding communities and towns. Call our offices today.
Please contact us if you have any questions or comments.