(Closed) What Home Can You Get For $500K In Your Town/City?

posted 4 years ago in The Lounge
Post # 104
Member
2330 posts
Buzzing bee
  • Wedding: October 2014

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mrswhitecat:  Thank you!!!!! 

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mrscali13:  Hey Bubank! That’s where I grew up! Go Indians! Hahaha

Post # 105
Member
3610 posts
Sugar bee

A crappy walk-up studio with no amenities in a trendy or nice neighborhood (maybe, although $500k might not even get you there in some neighborhoods), or a less crappy studio with some basic amenities (elevator, in-building laundry room) in a less desirable neighborhood. 

Post # 106
Member
606 posts
Busy bee

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kipper88:  Oh man….I am from the wrong country. Jk…..I love being Canadian but seriously. So much more affordable and my favourite football team?! 

Post # 107
Member
2025 posts
Buzzing bee
  • Wedding: October 2016

Another San Francisco resident here. Unfortunately you can’t really buy anything (except for the tiny, unsafe studio type that amanda1988 mentioned, or maybe a foreclosed 1-br condo). Fiance and I rent a one-bedroom apartment and I don’t see us buying property in this area any time soon, if ever.

Post # 108
Member
1001 posts
Bumble bee

A selection from the city where I currently live:

$347,500
4 bds • 2.5 ba • 2,298 sqft

$418,500
4 bds • 4 ba • 2,840 sqft

$499,995
3 bds • 3 ba • 2,654 sqft

$345,000
4 bds • 3 ba • 2,288 sqft

$439,000
4 bds • 4 ba • 3,826 sqft

 

These are all on .5 to 3 acres.

Post # 109
Member
11373 posts
Sugar Beekeeper
  • Wedding: City, State

We’re in a thriving city in NE TN–a lot of businesses are moving here, Scripps entertainment just did so HGTV is here now.  Real estate is booming.  For $550K, you can have a large, lovely newer or new home.  You can probably find something lakefront in that price range as well.

We just bought our Forever Home here after living here just 6 mos–we liked it that much.  We came from SoCal & are so happy to have escaped that real estate insanity.

Post # 110
Member
2013 posts
Buzzing bee
  • Wedding: October 2014

I’m in NW Ohio, and this house is for sale a couple streets down from where I live:

$499,000 – 5 bedrooms, 5 baths, 3.5 car garage, 4,331 sqft on 0.36 acres, built in 1990

In contrast, DH and I bought our house 1.5 years ago for $180k. 4 beds, 2.5 baths, ~2000 sqft. Our house was built in 1974.

Post # 114
Member
121 posts
Blushing bee

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mrswhitecat:  yeah, isn’t it insane? People have been saying it will burst anytime.. but they’ve been saying that for years. Our realtor said it’s even worse for houses as new, younger families are fighting for them and we hear about bidding wars from our friends. We thought about moving to the suburbs where the GO is as we both work in the downtown core, but even older houses in the meh neighbours are very pricey : / and it would cost us $40 a day for transit haha

I should pitch a tent in my parents’ backyard and call it a day 😀

Post # 115
Member
880 posts
Busy bee
  • Wedding: October 2006

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floranfauna:  

Your meme made me laugh! 

I agree that the outer GTA is still quite pricey though not as bad as Toronto. I have many friends who moved to the Durham Region. York Region is insanely priced. 

Simcoe Region works well for us because my hubby works in Bradford. We plan on moving to Bradford in a few years since it is cheaper than where we live now. 

Post # 116
Member
102 posts
Blushing bee

Suburbs 15 minutes outside of Boston – $500k can get a small, in desperate need of renovation, 2-3 bedroom single family (that is, prior to the bidding wars that undoubtedly ensue) or a nice-ish 1-2 bedroom condo (generally around 500-750 sq ft.). 

Post # 117
Member
9806 posts
Buzzing Beekeeper
  • Wedding: September 2013

In my specific area you can pretty much get a brand new or updated 4 or 5 bedroom, 3500 sq ft house where I live for that much.  In the suburbs though, great schools, midwestern city (so not major city but large).  Of course if you really want a more desireable area it will not go as far so you might be looking at a less updated or smaller house (but still perfectly liveable). 

Post # 118
Member
618 posts
Busy bee

We live in rural northwest ohio, and for $141,000 we bought a 4 bed, 2.5 bath ranch brick home with 2,100 square feet  and .93 acres.  Partially finished basement, large patio, 2 car garage, and storage shed in the back. (It was assessed at 156,000 but we got it for 141 at an auction!). Built in 1963 and needs some cosmetic updates, but in great shape otherwise!

$500,000 would get you a huge brand new home on a decent amount of acerage out here if you’re in the country.  Less acerage but still a huge beautiful home if you’re closer to the small city nearby.

Post # 119
Member
2168 posts
Buzzing bee
  • Wedding: Cathedral of the Immaculate Conception/The Gallery

I’m in Kansas City; if you go outside of downtown/first-ring suburbs, you can get a lot of house for $500k. But in the city, the market is crazy and prices match. This house is for sale in my favorite neighborhood in downtown and listed at $490k. 3 bed/3 bath.

This is a 3 bed, 3 bath 2300 sf home in what is probably the nicest first-ring suburb in the area. Definitely not the nicest house in the area. $519k.

 

 

I honestly can’t believe the market here right now. We currently have an offer in on a home (!!!) and I’m just sitting here refreshing my email to see if we’ve beat out the 3 other offers in on this proeprty (listed for less than 2 weeks). It’s nuts!

Post # 120
Member
3563 posts
Sugar bee
  • Wedding: September 2013

I live in eastern NC, and $500K can buy you a LOT of house here! 

We paid $118K for a 4br/2.5ba 2900 sq ft brick house, a little over half acre of land + an inground pool. 

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