I mean, yes, those numbers are realistic in my area. They’re not going to be stellar homes at 100k. Either old, small, or in disrepair (or a combination of those), but they do exist.
From my own experience in my general area, the further away from the metro areas, the better the housing prices. I bought my first 3 bedroom home 8 years ago at 130k, and it was less than 10 years old and a pretty decent single story home. But that was an hour or more to any big city from there.
More recently we bought our current home about 20 minutes from a big city and the prices are probably double for the same level of home in this area. Ours was almost 400k this time, but also an overall better and bigger home. 4 bedrooms, 3.5 bath, 2 story with finished basement, 2 car garage. Though in fairness, there were nicer homes in the area for the same price or even about 50k cheaper but they were in a worse school district and had HOA fees.
There are nicer homes in our neighborhood that are in the ~$1 million dollar realm, but they’re big luxury homes.
Also housing prices have dropped in the last couple years around here, but that’s only compared to stupid inflated prices they were 2 years ago. In our area in 2022, people were asking for 150% percent the price on homes they bought in 2019-2020 and getting it. Now they’re averaging about 12-25% less than that, probably.
The market over here is ridiculous. For $1m I got a 3 bedroom townhome with not much of a backyard and $470/mo HOA. It’s about an hour to the city (not during rush hour). Anything cheaper than that is either in a bad school district or about to collapse. I used to live next to a mobile home park and I just checked now - those sell for over 330k.
Prices here have been going up since 2020. There was a dip at the end of 2022, but already almost back to highest 2022 prices.
it depends on location of course like everything. I just closed on a $350k ~1 acre 4 bed 3 bath 30 mins from downtown city in the South, quiet street, good neighbors, in need of a refresh interior decor but only because its dated, inspections came back clean.
Not to be like neener-neener about it, we don’t really have a choice of city due to jobs, and if we happened to live and work in Portland or LA or NY it would be fucking terrible and we would live in a shoe box above a bowling alley and below another bowling alley. But I just wanted to say for those asking - it varies so wildly it’s mad.
Where in the fuck are you living? We sold our mobile home for 3K, lol, and it was a double wide. Bought our house for 80-90K and it’s not a shit hole, but also not special; 3 bed, one bath.
He’s living somewhere dumb. You can get an apartment in NYC for $300K - $700K, depending on the neighborhood. If you pay $1 million to live 1 hour from “a city” (which city? Fucking Cleveland?) you’re clearly overpaying.
That’s a Toronto suburb…my brother lives there, no HOA though. Bought for 350k, 15 years ago and gets offers for 2m routinely. He’s mortgage free too so when the kids are off to university, he’s selling and moving.
That’s $1.5 million in real dollars (USD, not goose bucks). Not as bad, but still dumb. I guess people are willing to pay more to not live in a city. They just pretend around the edges.
Why would you want all the drawbacks of a city (traffic, high prices) with none of the benefits (walkablity, arts, amazing architecture, infrastructure)?
Cuz he’s got literally everything he wants in his community, down to the regional pickleball complex LoL. His neighborhood is just as walkable as mine is and I’m considered to be downtown adjacent. Stores, parks etc all within reach.
His kids both go to specialized high schools for athletics and performing arts and those are only available in Toronto at the level those kids need so he’s going to float around the edges of the big city until they’re off to Europe or university after graduation.
I mean, yes, those numbers are realistic in my area. They’re not going to be stellar homes at 100k. Either old, small, or in disrepair (or a combination of those), but they do exist.
From my own experience in my general area, the further away from the metro areas, the better the housing prices. I bought my first 3 bedroom home 8 years ago at 130k, and it was less than 10 years old and a pretty decent single story home. But that was an hour or more to any big city from there.
More recently we bought our current home about 20 minutes from a big city and the prices are probably double for the same level of home in this area. Ours was almost 400k this time, but also an overall better and bigger home. 4 bedrooms, 3.5 bath, 2 story with finished basement, 2 car garage. Though in fairness, there were nicer homes in the area for the same price or even about 50k cheaper but they were in a worse school district and had HOA fees.
There are nicer homes in our neighborhood that are in the ~$1 million dollar realm, but they’re big luxury homes.
Also housing prices have dropped in the last couple years around here, but that’s only compared to stupid inflated prices they were 2 years ago. In our area in 2022, people were asking for 150% percent the price on homes they bought in 2019-2020 and getting it. Now they’re averaging about 12-25% less than that, probably.
The market over here is ridiculous. For $1m I got a 3 bedroom townhome with not much of a backyard and $470/mo HOA. It’s about an hour to the city (not during rush hour). Anything cheaper than that is either in a bad school district or about to collapse. I used to live next to a mobile home park and I just checked now - those sell for over 330k.
Prices here have been going up since 2020. There was a dip at the end of 2022, but already almost back to highest 2022 prices.
it depends on location of course like everything. I just closed on a $350k ~1 acre 4 bed 3 bath 30 mins from downtown city in the South, quiet street, good neighbors, in need of a refresh interior decor but only because its dated, inspections came back clean.
Not to be like neener-neener about it, we don’t really have a choice of city due to jobs, and if we happened to live and work in Portland or LA or NY it would be fucking terrible and we would live in a shoe box above a bowling alley and below another bowling alley. But I just wanted to say for those asking - it varies so wildly it’s mad.
Where in the fuck are you living? We sold our mobile home for 3K, lol, and it was a double wide. Bought our house for 80-90K and it’s not a shit hole, but also not special; 3 bed, one bath.
He’s living somewhere dumb. You can get an apartment in NYC for $300K - $700K, depending on the neighborhood. If you pay $1 million to live 1 hour from “a city” (which city? Fucking Cleveland?) you’re clearly overpaying.
That’s a Toronto suburb…my brother lives there, no HOA though. Bought for 350k, 15 years ago and gets offers for 2m routinely. He’s mortgage free too so when the kids are off to university, he’s selling and moving.
That’s $1.5 million in real dollars (USD, not goose bucks). Not as bad, but still dumb. I guess people are willing to pay more to not live in a city. They just pretend around the edges.
Why would you want all the drawbacks of a city (traffic, high prices) with none of the benefits (walkablity, arts, amazing architecture, infrastructure)?
Cuz he’s got literally everything he wants in his community, down to the regional pickleball complex LoL. His neighborhood is just as walkable as mine is and I’m considered to be downtown adjacent. Stores, parks etc all within reach.
His kids both go to specialized high schools for athletics and performing arts and those are only available in Toronto at the level those kids need so he’s going to float around the edges of the big city until they’re off to Europe or university after graduation.