Relocate to Norman, Oklahoma to Buy the $39,900 Home
Norman, OK 73069
United States of America
The $39,900 Home
This home is a single-family residence with traditional construction. It is not a manufactured or mobile home. The house is a two bedroom, one bathroom. It is 650 square feet and was built in 1920. The lot on which the house sits is 2500 square feet and is a corner lot. The actual home for sale for $39,900 is pictured to the left.
The Condition of the $39,900 Home
The city of Norman is located in Cleveland County in Oklahoma. The Cleveland County Assessor's Office lists this home as being in "average" condition.
The $190 Per Month Mortgage
Based on a 30-year fixed rate of 5.93% with 20% down, the monthly mortgage payment would be $190. This is much lower than many people's monthly homeowner's association dues alone. And, of course, there are no homeowner's association dues for the $39,900 house.
A Down Payment that is Less than the Price of a Used Car
Assuming you pay full price for the $39,900 house rather than negotiating a slightly lower price, 20% down would be a mere $7980. That's less than many people pay for a used car.
The $39,900 Home Versus the Price of a 2007 Hummer H2
A 2007 Hummer H2 retails for about $54,000. That is a full $14,100 more than the purchase price of the $39,900 house.
The Neighborhood
The author of this article personally lives with easy biking distance of the $39,900 house. The author loves her home, her neighborhood, and the city of Norman, Oklahoma. Norman is home to the University of Oklahoma (OU), making it the quintessential college town with all the accompanying amenities.
The specific neighborhood where the $39,900 home sits is an area where the author seriously considered buying a home when relocating from Seattle, Washington to Norman, Oklahoma. Many of the homes in the immediate area of the $39,900 home are rental properties. But, it is a mixed area, and many of the homes are owner-occupied. The area is quite safe. There is a hospital located several streets over. The noise of ambulances might be heard more than usual.
The location of the $39,900 home is in north central Norman. Many people consider it desirable to live close to the OU campus. This home is slightly over two miles from the OU campus. On OU college football game days, you may even be able to hear the distant cheer of the approximately 85,000 fans in the stadium cheering for the OU Sooners.
Published by Lori Wheat
Lori Wheat is a progressive, reformed attorney turned freelance writer, gardener, and property manager. She lives with her wonderful husband and adopted greyhound dog in Norman, Oklahoma. View profile
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8 Comments
Post a CommentThink it was 20 years ago when a brother complained that his new truck cost more than his house did. Of course he was probably talking about sale price, not mortgage loan interest paid, on top of the original price. That is an amazing price for a house in 2007 in a college town.
That's something even us writers can afford!
When I bought my home in Moore, about 15 minutes north of this home I was looking in Norman, but this one fell below my criteria. Can't see the inside, but if it was like the other 100 or so we looked at, it would need way more than $39000 to fix it up. I had to think in terms of how much additional would I need to make the house livable. That kept me out of the range of this home and others like it.
Guess you're right. We lived in Orlando for 9 years and one year went through 3 hurricanes that came through. So now we're back in Virginia, but over the years weather has gotten worse and it's not unusual to get hurricanes or tropical storms come up here, either! :-(
I guess there's no place in the country that's really safe from a natural disaster: earthquake, hurricanes, tornados, etc.
Dave
Thanks for the comments. I actually missed the thunder and lightening storms in Oklahoma when I lived in Seattle for almost five years. I think you get used to whatever weather patterns you live with. When I moved to Seattle, all my friends and relatives in Oklahoma (tornado alley) were worried about whether one of the volcanic mountains would erupt in western Washington (Mt. Rainier or Mt. St. Helens) :P
Wow!!!
I can't believe how cheap this is! It's almost tempting to move to Norman.
Sophie
Great info. When my son was in 6th grade he had to do a research paper on tornados, so I went onto Google and looked up meteorologists for the 'tornado belt.' I came up with Jon Slater for Fox news in Tulsa. So my son called him and interviewed him. He had gone to OU...and strangely enough grew up only a few miles from where I did in Westchester County, New York! I think I'd be a bit nervous living out there with all those storms!