(Closed) Can you buy a home for 125K in your area?

posted 7 years ago in Home
Post # 257
Member
9951 posts
Buzzing Beekeeper
  • Wedding: December 2012

NO WAY… for Eastern Ontario. 

$ 125 K… might get you a lot with a Trailer Home perhaps for about that amount but you’d be away from the major cities, out in the country… and very rural.

$ 150 to 200 K will get you into a regular house (far from new) and again in a small town or rural setting.

$ 250 K will get you into an older home in one of our midsized cities (Brockville, Kingston & Bellevile) OR an older Townhouse, Garden Home or Semi-Detached Home in the suburbs of Ottawa (or a studio apartment in a modern condo)

$ 300 K will get you a decent house (maybe even a NEW small home) in one of our midsized cities (Brockville, Kingston & Belleville) … or a one bedroom apartment in a modern condo in Ottawa

$ 300 to 350 K will get you are NEW Townhouse, Garden Home or Semi-Detached Home in the suburbs of Ottawa… or an older single home in the suburbs of Ottawa (or a good sized apartment in a modern condo) … or a NEW single Home in other areas of Eastern Ontario

$ 400 K to $ 500 K will get you a NEW Home in the suburbs of Ottawa… or a luxury apartment in a modern condo

Most of Ottawa’s citizens who live in the suburbs live in homes in the $ 300 to $ 500+ K range.

And typically they are 2 story, 3 or 4 bedroom homes ranging from 1000 square feet up to 3000 square feet. 

NEWER and Larger homes (over 3000 square feet) in suburbia can easily run $ 500 K up to over $ 1 Million

People who live downtown or in the core areas of the city… find their housing costs to be even higher.  With a great many homes in prime areas of Ottawa being $ 750 K to the $ 1 Million mark

Beyond, that there are some Mega Mansions throughout Ottawa and the National Capital Region area… and on into Eastern Ontario.  Many of them having extensive amounts of land, or being waterfront properties (Ottawa River, Rideau River, the Historic Rideau Canal… or on the St Lawrence River or in the 1000 Islands) and they run from $ 2 Million up to over $ 10 Million.

Just writing about all these houses, makes me wish I would win the lottery… I’d so be buying myself a wonderful home with some land and gorgeous waterfront views… if I had enough cash, maybe something in the 1000 Islands.

*sigh*

(For the record, Mr TTR and I live in a typical house for the area… built in the 1970s, 3 Bedrooms and desperately in need of a facelift / makeover / reno.  Value would be somewhere around the $ 300 to $ 350 K mark.  I’d love to sell and get a NEW home with all the modern updates etc… BUT at our age, neither of us want to go back to having a significant mortgage… and to get a new home we’d be looking at doing that as we’d have to move up by at least $ 100 K)

 

Post # 258
Member
1966 posts
Buzzing bee
  • Wedding: September 2013

@lauren810c:  I’m in jersey too. Was thinking you could buy a house in camden! Lol 

Post # 260
Member
777 posts
Busy bee
  • Wedding: October 2009

Yep!! We just bought a house for $115K on 7 acres about 45 minutes outside of Hilton Head Island, SC. There’s a TON of subdivisions popping up right off the island and those are a little pricier since they have HOAs. We’re in a perfect location – 45 minutes to the island and about 30 from Savannah, GA. Love where we live!

Post # 261
Member
4802 posts
Honey bee
  • Wedding: August 2012

Hahahaha….no most definitely not.  Unfortunately!

Post # 262
Member
1654 posts
Bumble bee
  • Wedding: August 2015

LOL I wish. The most basic of homes around my area are 400K and up (1 bed 1 bath). Ugh. I was on Yahoo’s Real Estate site and saw AMAZING Vegas homes for only about 330-500K. These are like 6 bed, 5-6 bath sized too. Gorgeous. I want to move to the States now, says my inner real estate junkie.

Post # 263
Member
1181 posts
Bumble bee
  • Wedding: August 2013

Not even in my dreams! Not even the fixer uppers!

Post # 264
Member
683 posts
Busy bee

I live in Louisville KY and you can definitly find a good “starter” home for that in a good neighborhood.

Post # 265
Member
551 posts
Busy bee
  • Wedding: September 2013

In Michigan, yes! It would probably be a smaller home/lot without upgrades with decent schools. While we spent more than 125k, we bought our first home in an area where many young professionals live and it is very safe, affordable, and lively. We plan to eventually move to a much larger home with great schools, but we don’t have children yet 🙂

Also, we watch a lot of House Hunters and Texas always seems to have very large, affordable homes. However, I have never lived there so I don’t know much about the areas that these homes are located in or the reputation of the school districts.

Post # 267
Member
1572 posts
Bumble bee
  • Wedding: September 2013

@gingerbreadgirl:  NOT A CHANCE! Average price of a detached home in my city is $800K!! 🙁 Doesn’t bode well for first time home buyers unfortunately. Condos are going up everywhere, and even they start at well over $200k.

Post # 268
Member
463 posts
Helper bee

 

 

125K–not a chance. 350K is the bottom of the barrel, but 450+ is more of a realistic starting point. 🙁

ETA: For a studio or 1 BDRM, if your lucky.

 

 

 

Post # 269
Member
1163 posts
Bumble bee
  • Wedding: July 2014

not even close!!! You can’t buy a condo for that price.  If you’re renting a basement apartment for DIRT cheap at $1000 a month (which you can barely find), it would cost just less that $125,000.  I live just outside of Toronto, Canada

Post # 270
Member
280 posts
Helper bee
  • Wedding: May 2013

I don’t think you can buy a parking spot for that much here in San Francisco.

The topic ‘Can you buy a home for 125K in your area?’ is closed to new replies.

Find Amazing Vendors