What kind of home will $500,000 buy you in your area?

[gspieler]

Nope, income in Vancouver isn't significantly higher than elsewhere in Canada, with average of $45k a year. You're not going to save much unless you got a good gig.

Wow. Sounds like non-landowning locals are getting hosed.

 

[Only Here for Attachments]

That'll get you an average 4-bedroom house around here

 

[Satsui Ryu]

Where I live... It might get you something that does not have bullet holes in it. Other than that nothing really.

I thought this was a California thing, but it looks like based on this thread most places are crazy expensive.

 

[ralphc1]

$479,900

• 2 beds
• 2 baths
• 2,033 sq ft

 

[Orgasmo]

Wow. Sounds like non-landowning locals are getting hosed.

If your parents do no own property and you work a regular job in Vancouver, you are looking at either renting for life or an expensive mortgage that will take you and your spouse 35 years to pay off.

 

[bubbleboyjones]

FYI this heat map gives a decent overview of the U.S. https://www.trulia.com/home_prices/

 

[Der Eisbär]

A 2,000sqft shack.

Blame China for sending its citizens in droves to swoop up American homes with cash above asking prices. And thank the US gov't for allowing it to take place unabated.

That really needs to be stopped

 

[Don Quixote]

You could defiantly get those 3 houses around where I live; maybe a 100,000 less. Not many people in my area have that kind of money to fork out on a house.

 

[ripsta619]

Here is a house in San Diego a few miles from Tijuana. 4 bed 2 bath 1300 sqft.



My area 500k would get you a condo. Possibly...

 

[kahiljabroni]

Seems like it would be depressing to live in a city where a nice home is unattainable. I live in a very nice area and 500k will get an almost new 3000 square foot home on half acre.

 

[Lord_Impaler]

You can't buy a house for that here. The median home price in my town and surrounding towns is like 850,000$.

 

[Magooglie]

4 bed 3 bath. 2500 sq ft. Existing neighborhood. The newer developments here priced too high and are just sitting around.

 

[MMA since 1993]

500k will buy you a very nice 4,000+sq ft. home move in ready. Probably a bit more in the sq ft.

 

[ookii]

In my municipality:

3 rooms in total, 753 square feet and in need of total renovation!

Stockholm

Inside looks rather nice but outside looks kind of shitty . Its probably not too bad to fix by clearing the dry vegetation and repainting the outside

 

[Son of Jamin]

Inside looks rather nice but outside looks kind of shitty

In 2017, the average price for a detached home in Bromma (that area) was $1,4 million, that is why that house looks very poor.

 

[Hoof Hearted]

Average house price where I live is around $550k, which would get you a 2-3 bed semi-detached or terraced house. Certainly nothing luxurious.

If you want luxury, there are new 2 bed 'luxury' apartments being built for $380k which get you these spacious living areas...

 

[berimBOWLoh]

500k usd and 500k can isn't the same so adjustments need to be made

 

[Plutoburn]

A starter apartment about 900 square feet.

 

[Desdinova]

Wow...so anyone with a middle class home can sell it, and retire comfortably in a cheaper market. Where I live, you could live an upper middle class life off of investment income from 2 mil alone, for the rest of your life. Would've been nice to buy up property 20 years ago.

I don't understand why more people don't do this. Retiring early sounds nice to me. You don't have to move to the middle of nowhere either, there are some decent mid sized cities with a low cost of living.

 

[ralphc1]

500k usd and 500k can isn't the same so adjustments need to be made

Currently $500,000 USD around $630,000 Canadian.