my 2 bed 1 bath condo was $360,000 2 years ago
How much does a house cost in your area - Is it affordable???
by Witness 007 57 Replies latest jw experiences
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TopHat
In my area of upstate ny...50 miles north of the city our neighbor is trying to sell her 4 bed, 3 bath for $685,000. She has had it on the market for 6 months. 2 years ago she could have sold it for $800,000 and in one week it would be sold.
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Satans little helper
Es, Witness 007, where do you guys live? I am hoping to buy an investment home some time in the next year to eventually pay off the mortgage on our place in Perth. I bought a 4x2 on 780 sqm of land in Jan 2005 for $430,000 and it is now worth over $630,000. Perth has become one of the least affordable place to buy housing on the planet.
You can still build or buy a small 4x2 on 450-500 sqm for $450-500k but that is not in so desirable an area. Perth has been picked up by the resources boom and the amount of money people can make on the mines. -
Fisherman
$700,000 USD for one fam. Cheapest is $500,000 USD.
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looking_glass
Depends on where you are and what you are looking for. In the Loop/River North/South Loop and West Loop areas, you can buy a 2 BR 2 Bath for anywhere from $275 to $300. But that does not include parking. W/ parking tack on about 30 to 40 more. Gold Coast and Lincoln Park are much more expensive. Keep in mind, there are taxes to pay as well. For my 1250 sq ft condo w/ balcony, I pay about $5,000 in city/county taxes. I also pay assessments of almost $500 a month. So when you add it up, the 2 BR 2 bath condo for 275 is actually more like 300.
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BlackSwan of Memphis
I live in South Redford, MI. CNN rated it as one of the top 25 safest cities in the US.
We have a 3 bedroom home. Full basement. We purchased it for $125,000. With the updates we have made it Should be able to go for $145,000. Because of the market, if we tried to sell it, we couldn't.
Rather it will likely go up for auction. And in this area, it would go for under $100. Houses only streets from here were being auctioned at $60,000 +
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TJ - iAmCleared2Land
Come to Texas, USA. You'll never be able to afford to move away. Starter homes start at well under $100K. New construction at the $110K level, for a nice brick EnergyStar-rated 2-story. We paid $134K for a 2550 sq foot two story brick home in a nice subdivision. Would have cost us upwards of $275K for the same thing in Washington State, where we came from.
That also means that the $250K houses here would be $450K+ in other parts of the country (especially the NE or California).
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BlackSwan of Memphis
TJ, TX right now is a huge option we are exploring.
Question:
Does employment pay to match cost of living?
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TJ - iAmCleared2Land
Blackswan,
YES, especially if you're in IT or Healthcare. FYI, I'm talking about the DFW metroplex (north central Texas). The house prices I listed are NOT for north Dallas; they are for north Fort Worth and other outlying suburban muncipalities.
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BlackSwan of Memphis
Eek, nope.
Neither.
Hubby has several years production. I will say he is looking into getting a class b cdl. Has truck experience.
So the idea at this point is to get that and likely move our rear ends down south to TX as that poses the most promise at this point, unless something else comes up.
The thing that I needed to know (which you so kindly answered ) is if the pay matches the cost of living. One very important factor. We're willing to start off in an apt but would like to move into a house.
Thank You!!