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2nd Trimester
MrserinJ
member
How much does the average family home cost in your area?
MrserinJ
member
Hi Ladies,
I am from Canada and have just been watching the news and how they have changed the mortgage rules here. They were talking about average cost of family homes all over Canada, and it got me wondering what it is everywhere else, including in the States.
We live in a 4 bdrm, 2 bath home, with a double lot, 2500 sqft in total on a 4 level split (3 levels developed). Nothing fancy, but fairly average home, and our house is worth about $340-350K) When we bought it in 2006, we had to pay 365K, so obviously prices have gone down. I know this is fairly similar to other places in Alberta, but what about where you live?
Just curious, thanks!
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Re: How much does the average family home cost in your area?
Looking at realtor.com in my area for a home/lot similar in size to yours... between $300K and $350K.
But I've seen 3 bedroom/2 baths in town for less than $100K
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Our 2,000 Sq ft 2 bedroom, 2 bath apartment in the city carried a 536K price tag.
I want to vomit.
Well I can tell you in 2006 we had a 3 story 2 car garage townhouse built with 3bd 4bathrooms, 2200 sq ft. we bought in the prime of the real estate market sky rocketing. We paid 400 thousand TOTAL RIPOFF.
Today our house is worth about 150 - 170 thousand NOTHING.
We can get a HUGE house now for what we paid for this. We are praying that a few years we can get out of ths and get a real house with a pool and a backyard in South Florida.
A house in our area that is similar to yours probably would go for 350,000 or so?
Here in my part of North Carolina a house like yours would be about $200,000- $250,000 (american dollars).
My house is a 3 bedroom 2 bathroom ranch (one level), no basement, no attic, 2 car garage, .25 acre lot and we paid about $150,000 (built new with a few upgrades inside). I've seen some similar houses to mine in my town sell for $125,000 to $155,000.
For our house we paid $117k, but that's fairly normal for a ranch style in the suburbs around here. Now I think our town is a bit weird, because other than the addition we live in, the homes are either really small and cheap, $50k - $60k, or are between $500k to $1mil, but those homes that are more expensive have some great land, and are beautiful. Our's is nice, and luckily for us, we haven't lost much money due to the market turning.
In Connecticut, acreage matters the most - depending on the town. In the county we will be moving to (Fairfield County), land matters the most. An acre of property without a house on it can go for about $200-300K depending on location, quality of property, it's closeness to wetlands, and how buildable it is.
But...in my favourite CT town, we can get the kind of house you have for roughly $450k or a little more. But...it depends on how much land...again. If it's got a half acre, it will go for right around 450...with an acre or more, it can sell for upwards of $700k or more.
Granted, 7 years ago, I bought a 900 square foot condo in this favourite town of mine (with 1 bedroom, 1 bathroom) for $191K...sold it for $240K 2 years ago. Had also bought a 3-family in a city called Bridgeport, CT for $250K...it's probably worth roughly the same since it was a steal at $250k due to it being a foreclosure. Luckily, I have nothign to do with being a landlord now.
Ours 3 bed, 2 bath, fenced in back yard, new windows, 2 car garage, new a/c & furnace, fully finished basement with bar & laundry room, right on the lake in 2007 was 135K. Most bungalows in my area now go b/t 130 - 230K.
I have a 5 bedroom with 3 1/2 baths and 1 acre of land. The average cost of a lot with a house this size is between $400,000 to $500,000, depending on which school district you are clustered in.
We moved out of Center City Philadelphia not long ago. My husband and I had a 2,000 sq. ft. condo in the Olde City section and it sold for about $650,000.
Money goes much farther in the 'burbs around here.
in my neighborhood, your house would probably be priced near $1M.
i live in a 1200sqft TH with 2bdrms, 2 baths on 3 finished levels. the house is 16ft wide. we are selling for $400k. we paid $350 in '05.
we are looking at a 1600sqft TH wtih 3bdrms, 2.5 baths on 3 finished levels, with a driveway that is $590k.
two homes we looked at that are out of our $ range are below:
- a SFH with 3 bdrms, 2full and 2hlf baths with a finished basement and garage, 1800sqft for $699k
- a SFH with 4bdrms, 1.5 baths, finished basement, no off-street parking, 1600sqft for $750k
I live in the city (well, other side of the river in Cambridge) and 2 bedroom condos go for about $450,000 in my neighborhood (seriously, ouch). Good news is prices have been holding somewhat steady, bad news is it's really hard entering the market as a first time buyer (especially when you already have children).
We rent...
A single family like what you describe could easily go for over $1M.
Wow! There is such variation. I guess we get ripped off in Canada! I WISH we could get something for 100K here. That wouldn't even buy us a mobile home.
Thanks for sharing, Ladies!
5 bed 3 bath for about 480k
New homes about that size any where from high 3's to mid 4's just depends on your city here in California bay area
Just sold our house: Was built in 1967, 3bd/2ba, about 2000 sq. ft. Sold for $220K. We bought it in 2006 for $200K. It's in the college-y part of town, so a mix of owners and rentals.
The house we are building is in a new subdivision, but still close to Old Town (desireable) and it will be a 4bd/3ba ranch with about 2500 sq.ft and super nice finishes (hardwood throughout main floor, granite, SS appliances, tile,etc.). The purchase price is $320K.
Houston has such a wide variety because the city spans such a huge distance.
In the suburbs you can get a 4-5 bedroom house on a decent sized lot for less than $200K. Now, that is the "cheaper" suburbs. Places like the Woodlands go well over a million for a 4-5 bed room home.
We live in the city and have a 3 bedroom, 3 bath patio home that is about 2700 sq ft. It is worth about $425K right now (we bought it for a bit less 3 years ago).
We are considering moving to a more elite neighborhood about a mile away and we will be paying upwards of $650K for a 3-4 bed room, 3 bath house that is about 3500+ sq ft.
We just don't have houses that are 2500 sq ft on large lots in my area. If we did, they would probably be around $1M. We're saving for a new house. We're hoping to get around 1800 sq ft on a postage stamp sized lot (enough space for a small garden, a deck, and a little grass for the dogs) for around $550-$600K. We're willing to do a little updating if needed as well.
Our house is 1300 sqft ranch, with another 1300 sqft partially finished basement that we're finishing. It's brand new and 3 bedroom 2 1/2 bath for $125k. We have another 20-30k in materials needed for it.
Houses where I live generally don't exceed $200k. $100-150k is pretty average. We're moving a bit more into rural PA, and our house is one of the most expensive sold houses in the last year for a 10 mile range. Made finding comps hard.
DH's parents live in the larger town that is 10 min away in a very similar home. They payed $175k for it 3 years ago, where it was valued at $200, and when they wanted to refinance a few months ago for a better rate, it was now worth $175k.
It's nice to live in the middle of nowhere.
Where I live right now - about $300-350K you could get something that size...
Where I used to live, if you moved out of the city county and into the rural county, you could get something starting in the low-mid $200's.
I was waiting to see someone from MA. Our house is a 4 bedroom 4 bath on 1 acre colony about 45 minutes outside of Boston for $1.2 million. we paid $250,000 for the acre of land alone 3 years ago.
I am shocked that for what people paid for their house we got a piece of land.