Buying a House?

[Zardnaar]

Kind of a spin off of the $100k income thread. Basically how much is the cost of living in your area. Specifically buying a house.

Here it's around $888 999 potato dollars. In real USD it's close to $540k

QV House Price Index

The QV House Price Index measures house price movement throughout New Zealand.

www.qv.co.nz

Talking to mate in UK he didn't believe me when I told him outside London UK is cheap for us. They asked what you would expect for that and I said 3 bedroom house on a 1/4 acre section.

I live in the poorest major city in NZ. Wanna be my neighbour's? Two houses recently sold over the road went for 600k+ so around $360k.

Living in Auckland is around a million potato dollars/$600k usd.

Living in a rural location say one hour north on the coast you might find something around 250k usd. Similar price in my cities worst suburbs. Best suburbs closer to Auckland prices.

Heading inland prices are similar to up the road until you hit Central Orago. Closer you get to Queenstown and Wanaka its more than Auckland. They're resort towns. Snow xappwd mountains, alpine lakes, vineyards, Rohan in LotR.

Alexandra (population 5k, 1.5 hours to Queenstown average price is similar to decent suburb in my city.

https://www.realestate.co.nz/insights/central-otago-lakes-district/central-otago/alexandra

Central Otago listing.

https://www.nzsothebysrealty.com/pr...6r8-SUznfHHd5tHviWDFsNUjaEt2ZgWBoCKe8QAvD_BwE

Very expensive in places. Been priced out of my birth town.

So national average. Biggest city and my city/province.

 

[Kyriakos]

Hm, if all the properties I owned got sold (and it wasn't a kill, but at least decent price), I could in theory buy something up to 200K.
But if they were sold, I'd rather keep the money so as to not have to work for a decade or something.
Problem is, of course, that I would have lost the monthly income from them.

 

[danjuno]

Living at the crossroads of Appalachia and the DC Area means my area has a bunch of McMansions and trailer parks right on top of each other.

 

[lymond]

Living at the crossroads of Appalachia and the DC Area means my area has a bunch of McMansions and trailer parks right on top of each other.

Ha...I'm in McLean...mansions all over the place here. Unfortunately, I do not reside in one of them. Bet you're near Charles Town/HF.

 

[Zardnaar]

Living at the crossroads of Appalachia and the DC Area means my area has a bunch of McMansions and trailer parks right on top of each other.

I've been watching a series on West Virginia. Interesting place.

 

[E.man]

It really is very difficult to compare cost of living between places, as we've seen in the $100k thread.

Incomes and then costs vary so wildly.

NZ, and esp Auckland, has expensive housing, as we do in Oz. Also transport costs. But then we have more other services.
US housing and transport look laughably cheap from here, but health and other costs go unseen.

Talked to a recent immigrant here recently who's family still in original country think he's earning a huge amount by raw figures, but he says 80% of it goes on necessities.

HEY Z. You did a thread on this 2019.

 

[Zardnaar]

It really is very difficult to compare cost of living between places, as we've seen in the $100k thread.

Incomes and then costs vary so wildly.

NZ, and esp Auckland, has expensive housing, as we do in Oz. Also transport costs. But then we have more other services.
US housing and transport look laughably cheap from here, but health and other costs go unseen.

Talked to a recent immigrant here recently who's family still in original country think he's earning a huge amount by raw figures, but he says 80% of it goes on necessities.

HEY Z. You did a thread on this 2019.

Yup post pandemic now. Everyones complaining about it now though.

Yeah housing in USA looks cheap outside obvious Hotspot (LA, NYC, Seattle etc).

 

[AmazonQueen]

Around here its pretty expensive for S. Wales

Lots of people who work in the welsh government and the media around here.
Not so far away in the Valleys houses are much cheaper but catching up

https://www.walesonline.co.uk/lifestyle/welsh-homes/two-welsh-valleys-now-latest-25016928

Average wages are much lower than the South East outside the public sector

 

[Thorgalaeg]

It depends on a lot of factors of course but it is quite expensive now. An average of about 2000€/m^2 in my zone.

 

[Zardnaar]

It depends on a lot of factors of course but it is quite expensive now. An average of about 2000€/m^2 in my zone.

So small 3 bedroom 100 square meters house is 200k?

 

[Thorgalaeg]

Yep. But i would not call that small to begin with.

 

[Zardnaar]

Yep. But i would not call that small to begin with.

Cheap entry level house in small town NZ. Or cheap suburb.

Prices are down from 2 years ago.

Recently sold | 115 Oakwood Avenue, Balaclava, Dunedin - homes.co.nz

Free property records for 115 Oakwood Avenue, Balaclava, Dunedin. Free Sales History. Most recent sale for $467,000 on March 23, 2023. Contact agent Bradley Lee, Nearby sales, Mortgage loans, Council records, School zones, and more. homes.co.nz, the home of property.

homes.co.nz

467k (280k usd)

 

[Thorgalaeg]

You say it as if that were a good thing.

 

[Zardnaar]

You say it as if that were a good thing.

No it's stupid here. Looks good on paper but essentially trapped.

 

[Narz]

Maybe a tiny home someday would be nice.

Or fix up an RV or schoolbus

Things you own end up owning you, that goes double for a house. Every square inch is more stuff that can go wrong, will need fixing, cleaning, etc.

 

[GoodEnoughForMe]

Average home in my city is 225,000-250,000 USD. Go a bit outside the city and it’s about 190,000. You can find starter homes in the city for about 75,000 but 10 years ago those same homes were 35,000-45,000. I lived in a house less than a mile from downtown for a decade that went from 59,000 in 2012 (admittedly it was a foreclosure and almost unlivable POS) to 188,000 last year. It was a 3 bedroom 1.5 bath and about 1900 sq ft.

 

[Zardnaar]

Average home in my city is 225,000-250,000 USD. Go a bit outside the city and it’s about 190,000. You can find starter homes in the city for about 75,000 but 10 years ago those same homes were 35,000-45,000. I lived in a house less than a mile from downtown for a decade that went from 59,000 in 2012 (admittedly it was a foreclosure and almost unlivable POS) to 188,000 last year. It was a 3 bedroom 1.5 bath and about 1900 sq ft.

Where is that roughly?

 

[Thorgalaeg]

Cheap entry level house in small town NZ. Or cheap suburb.

Prices are down from 2 years ago.

Recently sold | 115 Oakwood Avenue, Balaclava, Dunedin - homes.co.nz

Free property records for 115 Oakwood Avenue, Balaclava, Dunedin. Free Sales History. Most recent sale for $467,000 on March 23, 2023. Contact agent Bradley Lee, Nearby sales, Mortgage loans, Council records, School zones, and more. homes.co.nz, the home of property.

homes.co.nz

467k (280k usd)

That looks perfectly reasonable. Such pretty house with garage included and the sea that close would cost 350k here minimum.

 

[REDY]

I have started thinking about buying flat in southern europe. The prices are ridiculously low, like 150k USD, the problem is that I do not speak Italian or Spanish. And they have very strange laws where squaters can take your house and you are fudged up.
Its not possible to get normal flat under 400k in Prague. I own 2 flats and 1 house in Bohemia, but I have just expenses from them.

 

[danjuno]

Ha...I'm in McLean...mansions all over the place here. Unfortunately, I do not reside in one of them. Bet you're near Charles Town/HF.

Close, Berkeley Co. Bleeding edge of the Baltimore-DC Area. Despite being on I-81 it's somehow cheaper than Jeff Co.