Houses Under $6,000

This Old House

We recently spotted another sign of the times over on This Old House's site, where they've rounded up 15 ultra-cheap houses under $6,000. The old axiom, "you get what you pay for," holds somewhat true. These homes are in depressed areas and they need a lot of work, but they cost a lot less than they would have just a couple of years ago...

The 15 fixer-uppers on This Old House's list are clustered in a few key cities where home values have plummeted: Detroit, Indianapolis, Pittsburgh, and Cleveland. When purchasing a home that needs work, it's always important to calculate major repairs into the total cost, as well as the potential resale value which may be limited depending on the neighborhood. For tips on how to buy a foreclosure and red flags to watch out for, click here.

Photos: This Old House