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Link: http://www.billboardmama.com/puna-real-estate-p-491.html

Puna real estate tends to be more affordable - as compared to other areas in Hawaii - considering that it's located near Hawaii's state capital of Hilo. Where prices in Hilo are pegged to be approximately $200 per square foot as a rule of thumb, a lot of properties in the Puna area sell for less than half that rate and the views are frequently just as good.

Real estate in Puna varies greatly according to size and amenities. You can spend lower than $100,000 for an old home or spend a whopping half-a-million on an expansive 4000-square-foot home in the Hawaiian Paradise Park subdivision. Or you can spend $60,000 for a tiny one-room cabin set on an acre of land, if you like to be the beach-bum type. Whatever your needs are, there will always be options available for you.

Compared to the mainland, however, houses in Puna tend to be a lot smaller - averaging about 1000 square feet. But in a tropical paradise, people like to spend more time outdoors, so the size of the home is not always the most important selling point. Other factors taken into account when setting the prices of Puna real estate are: the view, the distance from the beach, and the foliage and fruits that grow on the property. For example, a listed property boats of bananas growing in the backyard.

There is more good news here: there are two factors that make the prices of Puna real estate less costly. One factor is that a lot of the existing homes are "fixer-uppers", meaning, you can land a great deal if you are willing to put a little sweat equity into the home. Another factor in the prices, as in many other locations, is the housing market crash. Plenty of home prices have been significantly reduced for quick sale, and if you do your homework ahead of time, you might be able to catch one of these deals. More often than not, you can even find a mid-size home, newly remodeled, for about the same price as the cabin mentioned above! In some situations, some newer homes are sold unfinished and for a lesser price. So if you are one who can jump on an opportunity, you're likely to find one here if you keep your eyes peeled.

Puna real estate in general is priced to sell a combined effect of a down economy and a population shift making it a great place to look for a property on the big island.

Big Island Land Co Ltd
519 Manono Street, Hilo, HI 96720
(808) 935-6874