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Discussion in 'Bad Dog Cafe' started by naveed211, Mar 6, 2021.
My daughter in law lives in a pretty nice neighborhood. Her neighbors put their house up for sale, it sold in 16 hours! The price was $459,000.
On the topic of this, as this is a world wide forum i'd be interested to know what you can get for your money around where you live. What's a typical house cost there and what do you get for it? Ours is what i'd consider a nice detached 4 bed, built within the last ten years, integral garage, garden out front and back (not huge gardens, only about the same footprint either side as the house), total floor area of the house is approx 125 square meters (1350 square feet). It would sell for around £300,000 now ($415,000).
I'd like to move but i'm out voted, just looking at extending out back but UK gardens are small on new builds to begin with.
Sold one last year and refinanced another. We have some rentals but have decided to not buy any more and sell them off strategically. The one we sold was in the market for 12 hours and sold for full asking price which was about twenty thousand more than I expected to get.
My oldest son bought a house last year and paid what I would consider to be a lot of money for what he got. Like many on this thread, he made multiple full price offers before actually being able to get one under contract. And we don't live in a big city either.
Low rates bring out the buyers and drive up the prices for sure.
Here’s an example of the suburbs north of NYC:
- 2,500 sf (230 sm) house
- 1 acre (4,000 sm) lot
- good school district
- $800k-$1mm (580k-720k pound sterling) house value
- yearly school/property taxes $20k+ (14.5k pound sterling).
Define "buy", "house" and "recently" (last fall)
Bought and sold last year. The purchase went fine, the sale was a nightmare. Looking at doing some work to the new house. Getting a good contractor is difficult enough, but the county approvals process takes up to a year. Materials prices are high. Just trying to get a call back from an a/c company to bid a new system install, you call 3 and one never even calls back. Things seem a little broken.
The trick, of course, is that you can't replace it for less than $700K.
we moved and bought a new house in summer 2020... for sale by owner... asking $ 400 K... got it for $395 K... that was a stretch for us... we almost backed out... thankfully we didn t... this was during a slight drop in the market when the virus started going crazy... now, eight months later it turned out to be the best move we ve ever made... new house 3 doors up is being finished, same size lot, same size house... listed for over $ 700 K... and they will get it... stuff here sells sight unseen to out of state buyers in less than a week...
A few of you are mentioning 'yearly property taxes', what are these for and why are they so high?!
We have council tax over here, that's £120 a month (bins, street lighting etc). We also have to pay £200 ish a year for local maintenance of a lake that we live by but that's not standard.
We bought a cottage 2 years ago. I ran into the agent we bought it through last summer and he told me if we wanted to sell we could easily double our money.
My brother's neighbor just sold his place for 80 grand over asking. The market around here is on fire.
I’ve got numerous colleagues in the UK and it is foreign to them (pun intended). In my case, the breakdown is roughly:
- 1/3 goes to the town and county for things such as: police, fire, roadwork (paving, snow removal, etc), repair of water/sewer lines, trash removal/recycling, etc.
- 2/3 goes to the school to support teacher salaries, maintenance of the schools, etc.
Police and teachers are well-compensated in my area and get significant retirement benefits (e.g., 50% comp based on highest comp years (incl. overtime) and subsidized health insurance in retirement).
Edit: if you live in NYC proper, the property taxes are lower, but you pay an additional income tax (I think around 3%, but I haven’t been in the city for 20 years or so)
I have been trying to buy a house in the Blue Ridge mountains area of north Georgia. Some are selling within hours of the listing and all the ones in my price range are generally selling in 1-3 days if they don't need any major repairs. Low interest rates are driving.
I paid mine off after 30 years. Houses in my neighborhood are getting flipped.
Is it in the "Gein District"?
I know right?! I'm originally from Ontario and my wife is from Alberta so we understand to a certain degree. We're just starting to look into houses after saving for a few years and realizing we could own something in any other city lol. My brother is also looking to relocate back to Canada and he tells me the housing market on the west coast is absolutely insane.
nope, it's a good hour and a haf south of that
Home prices are up everywhere. My sis is a realtor and this has been a banner year for her. Record highs across the US even here, where the median home price is over half a mil for the first time. I assume Canuckistan's the same.
On the flipside, interest rates are down, so if you're able to put enough down you're unlikely to end up where so many people did in 2008.
FWIW, we sold our 2006-bought home in 2019, took the proceeds and bought a spec'd new-construction home shortly after, keeping the mortgage payment the same. I'm glad we put a lot down to get it there, but even if we hadn't, I'd be fine if we had to sell right now. In our development, I've seen several of the same model home as ours fetching well north of what I know they paid for it, last time some 10%-15%. Nearby condos in 4-unit buildings are selling for what we paid for our 4BR single-family two years ago, same developer.
Prices are probably going to come back to earth at some point, but it's rarely a bad time to buy your first home; one of the smartest pieces of financial advice I ever got 25 years back.
Bought a house end of last year after getting reno-victed from where I was renting. Have been renting for quite a while and seeing prices go up a lot. Work is in the lower mainland (the local people will know what that means ) and so that's where I am though for sure in the greater Canada you can find a house for a lot less. Found the right place for the right (read as crazy high) price. Prices have probably gone up 5% since I bought.
I look at it as a place to live, not an investment. We're pretty happy with it so far. It would have been impossible to find something similar to rent at pretty much any price in this area.
We bought three years ago. There was a house that we really loved. So much so that we offered $30,000 over the listing price. We still didn't get it.