What $1 Million Gets You for a home in 15 Cities Across the U.S.

[Rashid.bk]

Cool article, thanks.

[ckaynyc]

Originally Posted by Fat_ninja

Less in the coasts more in the center of the country? Am i close?

Sounds about right. My 650sqft 1bed 1 bath in NYC is comparable in price to a 4.5k sqft modern home in Westchester County. In Westchester a 2 bed 1 bath 1200sqft Cape goes for $500k needing reno.

We are currently renting in Westchester as we need space and the market is too hot to buy anything.

[Brenngun]

Regardless of pricing errors in this article. Based on location with respect to the city center, the neighborhood and the house itself I'd have to go with the Charlotte house first followed by Phoenix & Minneapolis. I love the look of the one in St Louis but then as was said earlier you'd have to live there.

[GB-man]

Here’s an example. This house clearly needs updating but with 200k to spare many of the cosmetics could be fixed. And it has access to the river. 20 min from downtown buffalo/1:30 from Toronto. Money goes a very long way here

https://www.zillow.com/homedetails/4...30328212_zpid/

[ronricks]

Originally Posted by TheVTCGuy

My old boss lived in the Bay Area, small house with no real yard. As a guess I would say 1,200 square feet. He and his wife packed up and moved to Reno. They bought a mansion comparitively speaking and have money to spare for retirement.

Lot of people selling in California and taking their money to Nevada, Texas, Florida, and Tennessee and paying cash for a nice home and still have a nice nest egg left over.

[BNA/LION]

Originally Posted by GB-man

Here’s an example. This house clearly needs updating but with 200k to spare many of the cosmetics could be fixed. And it has access to the river. 20 min from downtown buffalo/1:30 from Toronto. Money goes a very long way here

https://www.zillow.com/homedetails/4...30328212_zpid/

WOW! I'll take it if you can move it to the hills of La Jolla, CA!

Look at these prices! https://www.zillow.com/homes/for_sal...lla-San-Diego/

[GB-man]

Originally Posted by BNA/LION

WOW! I'll take it if you can move it to the hills of La Jolla, CA!
:

Some gorgeous homes there Larry. Not as bad as I had imagined to be honest. Some really nice properties in the 2-4 m range I figured would be closer to 10 in your area.

[crew]

Originally Posted by GB-man

Here’s an example. This house clearly needs updating but with 200k to spare many of the cosmetics could be fixed. And it has access to the river. 20 min from downtown buffalo/1:30 from Toronto. Money goes a very long way here

https://www.zillow.com/homedetails/4...30328212_zpid/

Wow, that’s some house!
Imagine what it will be worth when the Bills win a Super Bowl!

[GB-man]

Originally Posted by crew

Wow, that’s some house!
Imagine what it will be worth when the Bills win a Super Bowl!

with inflation of 2% per year probably 4x as much

[RW16610]

Very interesting stuff there. Thanks for sharing, Larry.

[SomeEngineer]

I love how the nashville and atlanta homes manage to use every conceivable type of stone on their facade. Whoever started this trend in the south needs to be shot. This is why im actually considering a high dollar condo. Who actually wants to live in a theme park approximation of a "rustic hunting lodge"???

[GB-man]

Originally Posted by SomeEngineer

I love how the nashville and atlanta homes manage to use every conceivable type of stone on their facade. Whoever started this trend in the south needs to be shot. This is why im actually considering a high dollar condo. Who actually wants to live in a theme park approximation of a "rustic hunting lodge"???

Def won’t age well.

[SearChart]

I like the small blue one in Chicago

[Duey]

Originally Posted by GB-man

Here’s an example. This house clearly needs updating but with 200k to spare many of the cosmetics could be fixed. And it has access to the river. 20 min from downtown buffalo/1:30 from Toronto. Money goes a very long way here

https://www.zillow.com/homedetails/4...30328212_zpid/

OMG did you see the tax on this place $25,585 per year

I don't think your money will go far at all here with those taxes. And with the new tax rules for deductions it's going to be a hard one to sell

[GB-man]

Originally Posted by Duey

OMG did you see the tax on this place $25,585 per year

I don't think your money will go far at all here with those taxes. And with the new tax rules for deductions it's going to be a hard one to sell

My personal residence is worth maybe 350 nothing special. It’s assessed for 275 and I pay around 8400 per year. Welcome to New York State!

Good news is we have excellent public schools in our neighborhood so I factor that in. Also extremely safe.

If I moved 10 mintutes further away from the city the tax rates are maybe 60% of what I pay. Also ditto if I moved into the city but then the schools aren’t so hot and you need to go private.

[junamuan]

I was reading the news yesterday and I remember this post.
Vancouver housing market is crazy unbelievable too -

https://www.vancouverisawesome.com/2...ris-vancouver/

[superdog]

I looked for houses not that long ago in Jersey.

We stopped looking when we realized everything was so freaking expensive.

And forget just the cost of the house...the taxes in a nice area by me are near to 25k a year.

I will just stay put in the townhouse for now.

But love articles like this. Someday I am going to move to a slower part of the nation and just chill.

[SLS]

I was looking in the paper over the weekend, a 1,000 sq ft 2 BR/Bath home in Santa Clara was listed for 1.2 million and I'm sure it will go for more just because it was 3 miles away from the Apple & Google campuses.

[vman]

Left the SF Bay Area for Charlotte and don’t miss train or traffic a bit. Will be back in CA but not anywhere close to Silicon Valley. The place has become a joke in terms of pretty much everything. People who think that SF and the surrounding areas are the real Cali don’t get what Cali should be all about.

[vman]

Originally Posted by SomeEngineer

I love how the nashville and atlanta homes manage to use every conceivable type of stone on their facade. Whoever started this trend in the south needs to be shot. This is why im actually considering a high dollar condo. Who actually wants to live in a theme park approximation of a "rustic hunting lodge"???

My thoughts exactly when I moved to the South. Wtf happened to the traditional southern architecture?

[freestone]

Originally Posted by offrdmania

A very good friend of mine just purchased an 850sf flat top roofed square house in San Francisco, out in the avenues for $997,000 and that was after the bidding war. It was built in 1927, is 2 bedroom and has 1 bath. It is attached to the building next to it on one side and has a 3ft walkway down the other side to the backyard which is undeveloped. There is no garage.
To afford this place, he is a top head hunter and his wife is the General Manager of Nordstroms department store.
Where him and I grew up, this same house would have cost about $65,000. Its the premium you pay for living in San Francisco I guess.
I can almost guarantee the San Francisco house in the article went for way for than the list price. It was probably purposely priced low to entice a bidding war.

It sold for $1.3mm not the $995k shown.

In good locations in both SF and nyc places sell for $2 - 4,000 per square foot.

[SDRider]

Originally Posted by droptopman

Seattle is always on the list. Got a really good job offer last year in Newport CA. Was pretty interested until I started looking at houses in the region. If I remember the median price was like 2.5 million anywhere close the to job location. So ventured out a little and could get what looked like a 50K home for 1.5 mil. Needless to say, I did not take the job.

A friend of mine bought a home in Newport Coast a few years ago. It is a 3 bedroom 4 bath home, approx 2500 sq ft, has no driveway, a tiny backyard, no front yard, no view, almost no street parking, a $500/mo HOA fee and he paid $1.8M for it. It has increased in value since then.

[Tri-Tip]

Originally Posted by TheVTCGuy

For what I paid for my 685 square foot condo near the beach in La Jolla California, I could have bought a three thousand square foot house in St. Louis. Hmmmm.....

Only problem is that you'd be in St. Louis.

First house on the list is currently listed for $100,000 less than stated in the article.

[dakine_surf]

I live in Santa Barbara and I'm in the market, right now 1 million buys a 2 Br 1 Ba early 1900's craftsman fixer upper... 1.2-1.4 buys something remodeled. 900-1200 sq ft.

Just a mile away close to the water places are over 40-50 million. Just 15 miles north in Goleta, where UCSB is, 1 million buys you a brand new 3br townhouse.

All in all I've realized I need to spend 1.5-1.7 to buy a multiunit property in order to make the 14K a month mortgage doable. Rent 2 of the units to cover the majority of the mortgage, and you can live in the third at around 3/4K a month which become much more feasible. It's either that or go outside of downtown and find a 700K teardown and remodel into something nice in one of the less desirable neighborhoods and wait for it to catch up with the rest of the city. Over the last 20 years, a lot of the neighborhoods have become amazing as money moved in, mostly tech companies and the families it brought... etc.