This exactly! Also upkeep. Replacing a cheap shingle roof vs a metal or Spanish tile roof are night and day in costs.
Plumbing is cheaper in a cheap small house with simple layout vs. Sprawling multi-level house.
Size of grounds (and expected level care) to maintain are different.
It goes on and on, but the gist is that the total net on a cheap house (ie. houses in cheap areas) is going to be more for the same level of investment.
I don't even see how this is unexpected or controversial!
Plumbing is cheaper in a cheap small house with simple layout vs. Sprawling multi-level house.
Size of grounds (and expected level care) to maintain are different.
It goes on and on, but the gist is that the total net on a cheap house (ie. houses in cheap areas) is going to be more for the same level of investment.
I don't even see how this is unexpected or controversial!