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Your house down payment is usually mostly the value of the land underneath the structure, not the structure itself.
by mahyarm 12y ago
Your house down payment is usually mostly the value of the land underneath the structure, not the structure itself.
- YokoZar 12y agoThis depends very much where you live. In some places with very expensive property markets the structure can be as low as 20% of the cost of a home (a typical downpayment amount) -- conversely, with low property/land values, the quality of the building itself can be most of the value. A side effect of high land values is that the relative cost of teardowns/rebuilds is much lower, so you tend to see more replacement of the buildings themselves unless there are other regulations in place blocking that.