What Is the Cheapest Type of Property? Top 3 Factors to Consider to Build a House Without Breaking the Bank

Building a home is probably the biggest financial decision you will ever make. When determining what kind of land to buy or the style of house you want to build, weighing all the possibilities may be overwhelming, especially if you’re on a tight budget.

This article will educate you on different house types, the cheapest land options, and where to get cheap construction supplies. We’ll examine the extra expenses related to developing a home and other crucial aspects to consider while choosing the cheapest type of property.

Types of Cheap Land for Sale

Let’s start by looking at the most cost-effective options to consider while choosing the cheapest piece of land on which to build your new home.

Raw Land

Raw land is the most basic form of real estate. A raw piece of land has not been altered or enhanced in any way, so it’s usually more affordable than other types of property. Moreover, it also needs more improvement to be ready for home use. Due to the expense involved in preparing undeveloped land for construction, you might be able to negotiate a lower price if it has been designated for residential use.

If you’re looking for the cheapest property type, keep in mind that some states like Arkansas, Kansas, Maine, Missouri, Nebraska, and Texas provide more affordable housing and land parcels.

Because of the reduced population density in these places, there is less buyer competition. As a result, you might be able to save money on both vacant property and already-built homes.

Desert Land 

People looking for inexpensive land in the US are growing more and more interested in buying desert land.

The land available for purchase has the potential to be a profitable long-term investment. Just consider the landowners in Las Vegas who possess desert real estate. They have likely purchased at a significant discount, and now the value of their land is suddenly surging.

On top of it all, the desert’s climate is not as overbearing as you might imagine. You’d enjoy the warm weather all year long and a wide range of outdoor activities.

Finally, because there is less buyer competition due to lower population density, you might be able to negotiate better prices on property.

Degraded Land

Degraded land has lost its fertility due to some type of natural disaster, such as a fire, flood, or earthquake. It could also be caused by overuse or bad farming methods that have stripped the soil of nutrients.

Restoring soil levels is difficult and expensive, but it is possible. That being said, there are several things to consider, including zoning laws, permits, and other regulations, before the land can be utilized for farming or building a house.

Marsh Land

The marshland is yet another inexpensive option. This kind of property is less sought-after since it can be challenging to develop or use.

Depending on the state, it might be used for recreational purposes and hunting. There would be additional fees if you wished to stabilize the marsh and construct a house.

Thankfully, several governments provide financial aid to individuals prepared to invest in and develop wetlands. For instance, a school in New Jersey that was built on marshland was able to have its foundation stabilized, and the area is now being successfully used.

Farm Land

Farmland is considered to be one of the cheapest types of properties. This land can be used for farming and is frequently available for a low cost because it needs a lot of work to make it usable.

Also, agricultural land usually has a high long-term potential, and the value of land usually goes up over time.

When choosing agricultural land, you should consider soil type and quality, regional climate conditions, and farming laws. You should always check with the local government to ensure the land can be used for farming.

Top Affordable Types of Houses to Build

Once you find the perfect land, it’s time to consider what is the cheapest type of property. Let’s take a look at some options.

Mobile Homes

Mobile homes are an affordable solution for people who desire their own space but need more money to invest. Typically, this type of property is far less expensive than constructing a home from the ground up. Also, most mobile homes do not have to pay property tax because they are not considered to be real estate.

However, it’s important to follow the rules like zoning and licensing requirements when it comes to mobile homes. In addition, insurance and maintenance prices may be significantly higher than those of a conventional home. Therefore, completing your homework before choosing this kind of property is crucial.

Prefabricated Homes

The least expensive kind of house is frequently thought to be a prefabricated one. Because it is prefabricated, construction may be completed quicker than when starting from scratch.

Additionally, they have contemporary conveniences and energy-efficient features, which make them a desirable choice for those on a budget.

However, just like mobile homes, prefab homes must be built or bought in accordance with certain rules and with the right licenses. The price of installation can also vary greatly depending on where you live.

Ranch Homes

The ranch is the most common type of house in the United States, which is also one of the least expensive to construct. You can easily find a ranch-style house that suits your demands and budget because they come in various sizes and shapes.

They typically consist of single-story buildings with linked garages, have an open floor plan that makes them simple to personalize, and are attached to one another.

Shipping Container Homes

An increasing number of people are choosing shipping container homes as a low-cost choice. These houses provide a special and inexpensive approach to making a comfortable area with little work.

Additionally, they are frequently less expensive to buy than conventional homes.

Homes made of shipping containers are constructed around an old container. You can use one container as a little house or assemble multiple containers to build a larger home with more living space.

But keep in mind that just a few states permit the construction of residences made of shipping containers. They include Alaska, Georgia, Oregon, Texas, Tennessee, North Carolina, California, and Florida.

Cob Houses

Cob is a clay mixture that can be used to build a house’s walls and foundation.

Homes made of cob are strong, long-lasting, compact, and distinctive, making them ideal for people looking for something different.

Building cob houses directly contributes to reducing pollution, making this home style a green choice.

However, remember that if you decide to construct cob dwellings, you should be prepared for a lot of manual labor.

Tiny Homes

For those seeking a sustainable option, a tiny house is a fantastic choice. This house type is ideal for people who only need a little square footage because it often occupies a small amount of space, frequently less than 400 square feet, and is normally square or rectangular in shape. The simple layout uses fewer resources, lowering building costs.

It’s important to research the regulations before investing in a tiny home because tiny homes may need to adhere to specific requirements depending on where you reside.

The Most Affordable Materials for Your Dream Home

You can create an affordable home that meets all your needs with the right research and resources. Luckily, there are some cheap building materials you can use when on a budget.

Prefabricated Panels

The prefabricated panels are manufactured off-site and transported to you for assembly. Typically, they are constructed using lightweight wood and steel trusses and studs. You could be able to add paint, finishes, or additional features depending on the supplier’s services.

Shipping containers

Living quarters can be created out of shipping containers. They are reasonably priced, robust, and available in several sizes.

They are ideal for people who require an adaptable, reasonably-priced home. Moreover, since shipping containers are frequently regarded as standard structures, you don’t need to bother about particular permissions or laws.

Cob

Cob is one of the most cost-effective building materials for foundations and walls. Homes build with cob are compact, strong, and environmentally friendly, making them ideal for individuals looking for a cheap home without compromising sustainability.

You can construct a cob house on your own; however, it can involve some physical labor.

Concrete sheets

A prefabricated panel that is simple to install and that reduces labor expenses, on-site framing and pouring costs is made of concrete sheets.

Concrete is a safe, fireproof, insulating, and weatherproof solution for individuals on a budget wishing to build their dream home.

For people who desire a distinctive appearance for their property, concrete sheets are offered in various textures, hues, and finishes.

Reclaimed wood

Those wishing to construct their ideal home have a cheap and environmentally friendly choice in reclaimed wood.

You can find it for free on construction sites or on online “Buy Nothing” groups, but be sure to get permission first.

Reclaimed wood provides your home a distinctive appeal with a combination of colors and grains when used as paneling or wherever else it is visible. The wood can be refinished to match your preferred style.

Bamboo

Bamboo is considered a good alternative to wood because it is strong and grows faster. This makes it a sustainable resource. Due to its adaptability, it is ideal for flooring, framing, and fencing. 

Before making a purchase, research the bamboo species and suppliers, as the harvesting season affects the durability.

Brick

Brick is a cheap building material that can be created at home, recycled from previous structures, or purchased brand new.

You can also find used brick at construction or demolition sites and online markets. 

However, brick installation takes a lot of time, so labor costs could be higher. But this is still a good option for your home if you know how to install bricks yourself or have a good contractor you can trust.  

Recycled Bottles

Recycled bottles can be utilized as an attractive, eco-friendly alternative to traditional building materials. Plastic bottles can be filled with waste plastic to make eco-bricks.

While they are typically used for smaller constructions like gardens, sheds, or even furniture, it’s also conceivable to utilize them to construct a house. 

To create a stained glass effect, glass bottles can be cut off at the neck and fastened in concrete, cob, or adobe.

However, because this method requires some craftsmanship, labor expenses could be higher. You will, nonetheless, have a unique outcome.

Final Thoughts

Ultimately, there is no one-size-fits-all answer for the cheapest type of property. It mostly depends on your location and budget and what type of home you prefer.

What’s important is that you take the time to research all of your options and consider the costs involved before making a decision. With some preparation, you can find the perfect home that fits your needs and budget.

To get started, contact Discount Lots. We have access to off-market listings at affordable prices.