Family Of Six Bought A 3 Story Home In A Nearly Empty Chinese Complex For $118,800 And Now Cannot Sell It But Say They Love Living There

Some people look at a nearly empty neighborhood and see a failed investment. One family of six in southwest China looks at theirs and sees home. They bought a three story loft for 850,000 RMB, about $118,800, and say it has lost value and is close to impossible to sell. Even so, they insist they love living there.

A woman pointing at a three-story home in China next to apartment towers at dusk

The family shares their daily life on the YouTube channel Bobo Mom, where the mother gives a full tour, from the garage to the bedrooms to the monthly bills. Their complex has less than 30% occupancy, and she says many people call buying there a mistake, with no lively atmosphere at all.

Her answer is simple: they honestly do not care, because their three generation household has the space it needs.

Life At The Edge Of The City

The family lives about 30 kilometers, or 19 miles, from downtown Kunming. She says a subway line was once planned out that way, but there were too few residents to meet the conditions, so the plan fell through. To get around, they drive or ride electric bikes, and their most-used vehicle is an electric tricycle for school pickups, grocery runs and grabbing packages.

The complex was built in 2017, right when China’s real estate construction was growing the fastest. A lake park sits in the middle, surrounded by villas, with low rise lofts like theirs and high rise apartments on the outside. The only shop nearby is a tiny convenience store run by the same boss who runs the package station, so the family stops in nearly every day. A second package station sits about 100 meters away, and leaving a package in the metal lockers for more than 24 hours costs 1 to 2 RMB.

Why live this far out? She gives several reasons. The average temperature is around 15.5 degrees Celsius all year, with cool summers and mild winters. Homes are far cheaper than in the city, where a place they paid over 800,000 RMB for here could not be bought for 2.4 million RMB, around $336,000, in the center. And they enjoy the peace and quiet. The downside, she admits, is that there are few jobs and almost no shops.

The Numbers Behind The Purchase

They bought the three story loft in 2017 for a total of 850,000 RMB, or $118,800. They paid 350,000 RMB down, about $49,000, and took a 400,000 RMB mortgage, around $56,000, over 30 years. The monthly payment is around 2,600 RMB, or $364.

Today, she says, even with all their renovations they could not get 850,000 RMB for the house, and the bigger problem is that they cannot sell it at all.

An Elevator, An Empty Garage And Sound Activated Lights

An elevator was a big reason they chose the place, since six or seven storey loft buildings in China usually do not come with one. Because each home has two floors and only two families share each level, the elevator stops only on the first, third and sixth floors.

The basement garage shows how empty the complex is. The first level is less than a third full, and on the second level fewer than 5% of the spaces hold cars. The hallway lights are sound activated, which she says is common in China, so a clap or a footstep turns them on. Even with the lights glowing, she says it feels a little creepy down there. Power in the garage is not stable enough for private chargers, so electric cars charge at an outdoor lot.

Inside The Three Generation Home

Inside, the house is full of life. Her son built most of the Lego models, and the family renovated the living and dining room themselves last year. The first floor bathroom has a traditional squat toilet, and her father-in-law, who is retired, saves water in a bucket from washing his face and feet to flush it. His bedroom and study are on that floor, where he has practiced calligraphy for more than 30 years. A bar counter holds two computers the parents use for work, and their daughter uses them now too.

Upstairs, three rooms open off the second floor. Her son’s room connects to a big balcony, and the family built him a playhouse. He keeps pet mini crabs, eight of which cost just 2 RMB online. Her mother has one room, and her daughter’s room is full of stuffed toys and dolls. The third floor holds the parents’ bedroom, which she says has the best view in the house. With three bathrooms, nobody has to fight over one.

Six people under one roof means small disagreements over schedules and habits. But she says that after living together for a long time, everyone has gotten used to each other’s ways and they do not bother each other much.

What Six People Really Pay Each Month

Water: 4 RMB per cubic meter, about 100 RMB, or $14, a month.
Natural gas: 3 RMB per unit, also about 100 RMB, or $14.
Electricity: 0.45 RMB per unit, around 260 RMB, or $36.40.
Property fees: 1.8 RMB per square meter, about 350 RMB, or $49.
Internet: 168 RMB, or $23.52.

Not counting food, she says the basic bills come to about 1,000 RMB, or $140, a month.

Dinner that night is spicy cold-pot fish with clams, with her mother having prepped everything so the family can eat together when her son gets home from school. It is a cozy picture, and a reminder that a home is more than its resale value. For this family, a house that costs about $364 a month to finance and holds three generations at one table is worth every bit of the quiet.

Willow and Hearth