Well, im 20 and living at home while going to school. My (parents) house was 350K 15 years ago. worth around 550 now. its funny, there are 400K houses and up all around, and right in between two of the biggest ones, there is a freaking barn..its like 2 square feet...two rooms total. I dunno how they got in there, but its the funniest thing to see...the neighbors garage is actually bigger than that house! funny stuff
oh btw, I live near akron ohio. |
The Midwest is cheap!!!
My first house 5 years ago 3 bedroom purchased 65,000 sold it for 126,000. Bought our current house in the burbs: 4 bed room, huge yard, 157,000. Average cost in the nieghborhood of home we were looking at was 145,000- 200-000. We couldn't break the 160,000 mark without starving the kids and we had tons of options from brand spankin new to older homes. |
I wish I had house options. There are tons of houses to buy in my area and town. The low end of houses is about 40k and the high end is about 150k. The problem is that all the houses are over valued by at least 20k and anything under 50k needs to have everything replaced but the walls.
If you want anything out of the city limits or more thn one acre plan to pay 200k or more. Farm land is worth about 2k an acre to farm and if you want to put a hous there plan for 10-15k an acre. I know those prices sound cheap compared to the prices you guys are throwing out but wages around here are shitty. Here $40k a year sallary is really good, a combined (husband and wife) sallary of $100k is HUGE. |
I paid 146k for mine and it is already worth 158k in the space of 3 months without any of the extra work I have had done on it.
Our repayments are £520 a month which is good, because to rent a place around us goes from £600 up. |
Well in the Bible belt of Oklahoma smack in between Oklahoma City and Tulsa. I've got a three bedroom 2 bath, two car garage for 80K. Motrgage is about $725 on a 30 year note. Average neighborhood in a divsion one college town. Oklahoma State University. What is kind of gouging me is home insurance going up every year. Damn escrow account. <p>I feel pretty lucky overall.
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So, for a 1 million dollar house, you are talking between 5,000 and 20,000 / month, I'd think. (that's 12% annual interest + taxes + repairs + etc) |
My parent's house in New Jersey, a very small (maybe 1000 sq. ft.)3 bedroom, no basement, 1 bath and a toilet and sink in the laundry room (its a weird house) is worth 300,000. Here in rural northwestern PA, where i go to school, you couldn't spend more then 100k on a three bedroom house if you tried.
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Anyone that is interested in this topic would probably enojoy this website: Best Places You can compare two cities or just view a city's profile. You can enter what your yearly salary is and it will calculate what you would need to make in a different city to maintain the same standard of living. (Considering the different costs-of-living) You can compare many different demographics of a city, including the average home cost, property taxes, and property appreciation rates. It also compares your results with the nation average.
Note: This is not intended to be a "plug". The site is not mine and I am in no way affiliated with it. I use it for work and have founnd it extreamly useful for comparing such things as those that are being discussed on this thread. |
Anyone else seem to think the rising prices of homes is like a bubble waiting to burst?
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Downtown Toronto
We bought our house about 5 years ago and it was 165K for a 2 bedroom semi-detached victorian in a very nice neighbourhood. We just had the house assessed last year and it is now in the 285K to 300K range. With our new daughter we will need another bedroom soon (she's sharing with her brother for now)... to stay in this neighbourhood we can't find anything below 400K that is remotely close to what we need. I could move to the suburbs and pay somewhere between 230K and 400K for something very large and brand new but then the commute would suck and well, I'd be living in the suburbs. |
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Bought a house last August in Madison WI 3 bed, 1 bath, 1 car garage for US$165K. |
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The whole freaking market is crazy, I bought my place on Long Island 6 years ago & it was tough then. If I was just starting out now to buy my first home, I dont know if I could do it. Best of luck, I feel for you.
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I just bought a 4 br house on the West Bank of New Orleans for about $170,000. Huge backyard
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here in seattle, prices are just seriously insane... my parents house (mine when they die) they just bought was 550K, its 4 bedroom, 2.5 bath and 3000sq ft... i dont know what the land size is, but i know hat its insanely expensive
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The stuff I found when I was looking around here was a lot closer to what you described. And if I get a job in Silicon Valley, I sure as hell am going to move because I wouldn't be able to stand driving the 17 everyday with all that crazy traffic. So it goes... |
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I always thought Alaska had expensive housing. Guess the rest of the world caught up. |
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