How You Can Buy A Carlsbad Condo For Less Than $200,000

The city of Carlsbad will be selling condos for less than $200,000 in an effort to keep existing affordable housing units from converting to market rate, reports KGTV.

Carlsbad is buying up units in the Mulberry at Bresi Ranch development as they become available and will sell them to qualifying households.

According to KGTV, applications will open on November 19 for at least two 879-square-foot, two-bedroom, one-bathroom units in Mulberry.

"These home are meant for lower income households," said the city's program manager Nancy Melander. "They're meant for families, single parents, for those that are seniors and looking for permanent housing."

According to Melander, the units will go to qualifying households and not real-estate investors, which happened in Encinitas earlier in the year.

The condos are located in one of the region's most expensive areas. While the $200,000 price tag is a good deal, taking the housing comes with a set of restrictions.

The owner must live in the unit and cannot leave it to their heirs. If they decide to sell, the city will have first right of refusal and can set the price.

According to KGTV, eligibility is based on household income. A family of four would be eligible if they earn up to $60,600 a year.

You can find full eligibility requirements and the application here.