Where I live in Australia nice newer 3 bedroom brick houses go for $220,000 up. I think this is reasonable. (Aust. Dollars) How much is real estate in your area??
How much does a house cost in your area - Is it affordable???
by Witness 007 57 Replies latest jw experiences
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compound complex
G'day, Witness:
The home similar to that which you describe is $300,000-plus here. A nicely remodeled though very small home next door is going for $440,000; the trouble is, however, it isn't "going." There are numerous fine homes in the 'hood that have been sitting for months and many for over a year. The prices are too dear, what with taxes and, in some communities, association dues. Realtors tell me that there are some sales but precious few. The above homes went for $60,000 - $75,000 thirty years ago.
When I was in Australia I wanted to buy a home but cannot recall if foreigners were permitted to buy only new homes or only previously-loved homes ... do you know?
Thanks,
CoCo Yer Mate
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Witness 007
As far as I know people from overseas often buy new and older property here since most times their dollar is stronger, and land is avalible.
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nomoreguilt
I live in S.E. Michigan. At the current time we have the highest unemployment rate in the USA. We have lost 130,000 industrial jobs over the last few years. Compound that with the number of people that bought new homes with adjustable rate mortgages at as little as 4.3% . Now, however, those adjustable rates have in fact ADJUSTED to higher interest rates. Sky high. So, alot of these people can no longer maintain the high monthly morthahe payments and are losing their homes to foreclosure.
Now, back to your question....A home that usually would sell for say $220,000 can now be purchased for as little as $165,000. This all would depend on how much equity the owner had in it and just how motivated he was in moving it. Just let me say this, there are many beautiful homes to be had in my area that a few years ago would not have been affordable to many people.
NMG
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Dorktacular
A nice 3 bedroom 2 bath house in my area costs about $200,000. But, with today's real estate market, you can get something for much cheaper. I just bought a house in September. It's a three bed two bath on one acre and it was originally on the market for $179,000. By the time I was done negotiating, I got it for $132,000 plus the seller paid all of my closing costs, had the heating and air serviced and they paid for a two year home warranty. Needless to say, they were motivated sellers. I think I did good!
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Crumpet
I live in the fourth most expensive place on the planet - I think its fourth anyway.
Average Cost: £396,131 which is approx US$800,000 Detached: £687,151 approx US$1.4 million Semi-detached: £335,373 approx US$670,000 Terraced: £273,161 approx US$550,000 Flat - one bed apartment: £214,412 approx US$430,000
And no its not affordable. I'll never be able to afford my own place here or even in the UK. (By the way I don't even live in London! This is half an hour by train from Central London and about 2 hours by road in the middle of the night). -
NewYork44M
In Manhattan prices remain high. Demand is not as strong as in the past, but the easing of demand has not affected prices.
You generally can expect to pay between $900-1,100 per square foot. A 900 sq foot apartment may go between $850K and 1.1 Million.
I have seen 500 sq ft studio apartments going for $650K.
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Peppermint
I'm moving to America.
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Johnna
Not affordable here in San Diego, CA unless you already have a house with lots of equity and are looking to downgrade. A 3br house goes for about $600,000. For $300,000 you might be able to find a 2br condo somewhere, but not necessarily in the best of neighborhoods.
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Finally-Free
Just sold a 3 bedroom 1 1/2 bath detached house in Toronto's west end for $390,000. Bought a 3 bedroom, 3 bathroom detached house in Toronto's east end for $240,000 and I move end of March. Prices in Toronto's west end are quite a bit higher than the east end. My new location is great, as I'll be a 5 minute walk from the subway station which will cut my travel time to work by half.
W