[John 070]

Ok, we have a 9 mo. old boy, so we need more room. I accept the day care $1,200 mo., that he's going to have ice hockey and all those expenses, probably play a musical instrument, and we want him to go to an elite college.

Back to needing more room, in my mind, I'm thinking let's keep it between 500 and 600k, and if possible, try to get closer to the 500 side.

No can do, we're looking at 725k for starters/fixer-uppers? I am sorry, I'm not the CEO of Apple, that is a lot of money to me. I get it, location matters, but it just seems like even in a very good location, 500k should be doable. Because our salaries are not unlimited (for any of us)....

p.s. we're in the Northeast. If you're in NorCal, you're probably laughing that you wish you could be faced with 725k

[Joekerr]

Its really governed by location as you are finding out. Some people are willing to bump up the price to get in that location - it is unfortunate for people like you because you are right - perhaps its really not worth more than 0.5M...just artificially inflated by other people. Who may or may not be the C-suite team on Apple.

Anyhow, I've always thought housing prices in the states were low comparatively - up here 0.5M isn't a lot.

Best of luck in the search though - you may find a real gem!

[squishy]

Yeah, in my county, Howard County, the townhomes go for $350-400K.

I guess it's a subjective question if 1/2 million is a lot, but real estate-wise, no, I don't think so. We're used to seeing properties with price tags that will make you cry around here.

Recently attempted to invest in a new townhouse (forgot the sq ft) for $312K back in May. In that same community, the price has already jumped up near $375K now in September...too bad it didn't work out, would have been a nice money maker.

People are willing to pay for the zip code, no matter the price. If you're not going to purchase a home for $750K in a nice area claiming it's too high, someone else will.

[John 070]

Nothing more than a vent....

I just think that if an unlocked iPhone is $900, a fortune (a coworker had to pay due to breaking his), 500k is even more of a fortune that than (absolute-wise). But it is not a lot for a house in many areas. It's almost comical to be told you need to consider another town if that's all you have to spend hahahahahahahahahahahahahahahahahaha (your 500-600k is NOT green enough for the likes of this area!)

[squishy]

Originally Posted by John 070

Nothing more than a vent....

I just think that if an unlocked iPhone is $900, a fortune (a coworker had to pay due to breaking his), 500k is even more of a fortune that than (absolute-wise). But it is not a lot for a house in many areas. It's almost comical to be told you need to consider another town if that's all you have to spend hahahahahahahahahahahahahahahahahaha (your 500-600k is NOT green enough for the likes of this area!)

I guess it is what it is, welcome to real estate my friend!

[John 070]

Here's what I mean....a buddy ended up moving here. Look what you get for $549?

http://www.zillow.com/homedetails/33...09739092_zpid/

Joking me, I'd love that for $549, as opposed to being told no, you can't even get a 1948 3-bed/2 bath for your 600k.

[davis449]

God I love TX...the McMansion you could buy for $750K ANYWHERE (except overpriced "prestigious" locations like Alamo Heights here in SA, River Oaks in Houston, or Highland Park in Dallas, obviously) in ANY city in this state (including Austin).

[Kwando]

$1,200/mo for daycare?! brb, getting vasectomy.

[ASAP]

Legit qusestion... how much in annual income family wise would one need to make in order to afford a home like the one for 549 above? Assume 20% downpayment and so forth... just want an opinion.

Also, I live in the most expensive housing market in the Country currently.

[PSUSMU]

Originally Posted by John 070

Here's what I mean....a buddy ended up moving here. Look what you get for $549?

http://www.zillow.com/homedetails/33...09739092_zpid/

Joking me, I'd love that for $549, as opposed to being told no, you can't even get a 1948 3-bed/2 bath for your 600k.

That home is easily 3-4x as much in the DC metro area.

Originally Posted by ASAP

Legit qusestion... how much in annual income family wise would one need to make in order to afford a home like the one for 549 above? Assume 20% downpayment and so forth... just want an opinion.

Also, I live in the most expensive housing market in the Country currently.

Sale price: $549k with 20% down = $440k mortgage @ 4.125% = ~$2750/mo
Figure out what size paychecks you need to cover that + utils + car + etc

[ASAP]

Originally Posted by PSUSMU

That home is easily 3-4x as much in the DC metro area.

Sale price: $549k with 20% down = $440k mortgage @ 4.125% = ~$2750/mo
Figure out what size paychecks you need to cover that + utils + car + etc

Yep 3-4x is right... 550k doesn't get much in DC metro at all.

[kevinbahnz]

Ouchie. I used to live in Northeast But I couldn't afford it so we moved down south.

[gtron]

sometimes i think about going somewhere remote and having a big ass house with land. maybe even setup a sweet bunker with video severance just because i can. i have a hard time pulling the trigger on being so remote so i'll likely pay 3x the amount for something 1500sf near the ocean.

[Uber V8]

Originally Posted by John 070

Here's what I mean....a buddy ended up moving here. Look what you get for $549?

http://www.zillow.com/homedetails/33...09739092_zpid/

Joking me, I'd love that for $549, as opposed to being told no, you can't even get a 1948 3-bed/2 bath for your 600k.

Did you guys happen to notice this house sold for $173K just two years ago?! Some body made a killing on profits.

[m3ray]

Half a mil buys you a nice condo in NY..lol

[FC4]

Originally Posted by John 070

Here's what I mean....a buddy ended up moving here. Look what you get for $549?

http://www.zillow.com/homedetails/33...09739092_zpid/

Joking me, I'd love that for $549, as opposed to being told no, you can't even get a 1948 3-bed/2 bath for your 600k.

Nice.

This is what $549K gets you in the ghetto around here... http://www.zillow.com/homedetails/21...15585806_zpid/

Or this gem:

http://www.zillow.com/homedetails/11...15587968_zpid/

[MYovichZ4]

Assuming, the average prison cell is 6x8 and the average office cubicle is 6x8.

What is the size of your master bedroom?

[Maestro]

When I lived in CA and we were deciding to buy a place, we basically had two chooses, Buy a small expensive place near our work so that our commutes were easy or buy a lager less expensive with a much longer commute. At the end the day option was we have not money for a while but had lots of time to spend together and figure are salaries would increase so the money would come. The second option was we would have money in our pockets but not time to spend it but there is no way to increase time or compress the commute.

These decision come down to time and money and which one is more import and which on you have more influence over. You have far more control over the money than time, Unless you can manage to find a good job near the more expensive home. My experience is less expense home only exist because no one want to live and work there.

I tend to buy fixer ups verse move in ready, I create my own dream place verse living in someone else's. Grant our next move will be a retirement place and that will not be a fixer upper. Time to enjoy the time and money.

[M_Six]

One of the reasons Wifey and I live out here in the corn is the cost of living allows us to put more towards retirement and enjoy nice vacations every year, all while having plenty of ready cash for toys. Our house will be paid for in 6 years or so and that will be the last of our debt.

Here's what a half mil buys you in our area.

http://goo.gl/wAvcPy

[Joekerr]

Originally Posted by Maestro

When I lived in CA and we were deciding to buy a place, we basically had two chooses, Buy a small expensive place near our work so that our commutes were easy or buy a lager less expensive with a much longer commute. At the end the day option was we have not money for a while but had lots of time to spend together and figure are salaries would increase so the money would come. The second option was we would have money in our pockets but not time to spend it but there is no way to increase time or compress the commute.

These decision come down to time and money and which one is more import and which on you have more influence over. You have far more control over the money than time, Unless you can manage to find a good job near the more expensive home. My experience is less expense home only exist because no one want to live and work there.

I tend to buy fixer ups verse move in ready, I create my own dream place verse living in someone else's. Grant our next move will be a retirement place and that will not be a fixer upper. Time to enjoy the time and money.

Your attempts at the English language have made the grammar police very sad.

[Vervain]

Originally Posted by Kwando

$1,200/mo for daycare?! brb, getting vasectomy.

Exactly!! OMG that's insane

Originally Posted by FC4

Nice.

This is what $549K gets you in the ghetto around here... http://www.zillow.com/homedetails/21...15585806_zpid/

Or this gem:

http://www.zillow.com/homedetails/11...15587968_zpid/

That's crazy

[MrPrena]

Originally Posted by John 070

Here's what I mean....a buddy ended up moving here. Look what you get for $549?

http://www.zillow.com/homedetails/33...09739092_zpid/

Joking me, I'd love that for $549, as opposed to being told no, you can't even get a 1948 3-bed/2 bath for your 600k.

WOW! I didn't know CT is priced that reasonable.


549K will get us these...

BOONIE AREA. Same zip but different city
http://www.zillow.com/homedetails/14...12950770_zpid/

http://www.zillow.com/homedetails/14...58289755_zpid/


Same city same zip
http://www.zillow.com/homedetails/77...07811915_zpid/


WILL be Same city same zip
Recently retired baseball start lives next door, and P.Manning is spotted more than one occasions next door.
http://www.zillow.com/homedetails/87...12950224_zpid/