How Much Did You Pay?

[JesseVader08]

My wife and I are experiencing some sticker shock about house prices since we've decided to move to a new city. 

We paid $160,000 for our place, a nice-sized 1750 sq ft simple bungalow/rancher style house.  In Kelowna, BC, Canada, the houses we're looking at are between $350,000 and $450,000!

For those of you that own your living space, what did you pay?

[Rob]

My girlfriend and I bought a one bedroom loft on the third floor of a building right on the edge of downtown Dallas.

It's about 1,100 square feet but it's pretty open and the ceilings are 12 feet high, they were freshly rennovated and the building and units are very nice.  We paid right around $165,000.00.   They came down around $5000.00 off the asking price, threw in a washer and a dryer, and gave us a second parking space (there were 15 spaces for sale and they were selling for $7,500.00 each). 

They're building so many new buildings around and fixing up downtown so much right now that we're hoping to be able to sell in three years for close to twice what we paid.

[Vator]

Well, we paid $250,000 (if I remember correctly) for our 6,000ft-ish house. Thankfully, the previous tenants did not complete some of the rooms which were started during the house's renovation in 1998. Had they completed the rooms, the house would have been unaffordable for us, at about $450,000-$500,000.

[MetalJedi]

Well I know for a fact here in California I will never be able to afford a house. I would have to stop collecting toys and stop eating. Both I cannot do. 

[Scott]

We just bought a 2400 sq ft 4 BR, 3 BR Rambler for $212,000.  We bought almost the same thing 3 years ago near Saint Paul, MN for $211,900

[Deanpaul]

In Minneapolis, our first home was $130,000 in 1998. It was 1300sqf. We put $18,000 into improvements, and sold it in 2001 for $220,000. It was a 1928 story and a half, 3br 1ba, with central air and a detached alley access 2 car garage.


We moved to Salt Lake and bought a 2100sqf. home in 2001 for $219,000. It's a 1937 story and a half Tudor. We remodeled, pouring about $120,000 into it. It's worth around $440,000 today. It's now a 5br 3 ba with central air, tuck under single garage.

[Darth_Anton]

Almost 3 years ago, we paid $260,000 for a 1500 sq ft ranch style home here in LA. Today, it appraises for $550,000, and it ain't that impressive.

[Vator]

So I'm guessing living in a relatively small town has it's advantages when it comes to the amount of house you get for the money?

[Rob]

You can get more square footage for the price if you want to live in a small town or in a suburb.

Personally, I wouldn't be able ot stand that - hence paying $165K for a 1,100 square foot place right downtown.

Personally I'm perfectly happy in a smaller place but in an urban area like this until I can afford the, 2,000 - 2,500 square foot place without having to flee for the suburbs.

Just the 7 minutes I spend walking to work versus being stuck in traffic for a half hour makes it worth it to me.

[Tracy]

We built a new 2300 sq. ft. home in 2002 for $165,000.  Have since added a sunroom, fence and landscaping.  We'll probably stay here for a while. 

[ruiner]

We built a new 2300 sq. ft. home in 2002 for $165,000. Have since added a sunroom, fence and landscaping. We'll probably stay here for a while.

Good price for a new home of that size - I take it you live in the midwest?

[Tracy]

We built a new 2300 sq. ft. home in 2002 for $165,000. Have since added a sunroom, fence and landscaping. We'll probably stay here for a while.

Good price for a new home of that size - I take it you live in the midwest?

We live in North Carolina -- just north of Charlotte.  We were able to build just before the big building boom here.  We also were in the builder's final phase in this development -- so we were able to take advantage of some incentives they were offering.  The housing prices in Charlotte are outrageous.  Our home would easily cost 300k in some parts of Charlotte.  Taxes and schools are good in our town/county -- yet we're only 15 minutes from uptown (they don't call it downtown) Charlotte.

[JoshEEE]

Well, we paid $250,000 (if I remember correctly) for our 6,000ft-ish house

Good LORD!

In Seattle, you can't even buy a 1200 sq ft 2 bedroom condo for that.   I am so jealous.

[Deanpaul]

yet we're only 15 minutes from uptown (they don't call it downtown) Charlotte.

That's awfully positive of them.

[Morgbug]

Jesse,
You need to clarify a point on the square footage.  Many homes either don't have a basement or the square footage doesn't include the basement in the square footage of the house as it is listed by real estate agents.  That varies by market. 

By way of explanation: A 2000 square foot two storey home will have 1000 sq ft on the main floor and 1000 sq ft on the upper floor.  If there's a basement it's about the same size (yeah, usually a little smaller but for ease of calculation...) so an additional 1000 sq ft.  In total you have 3000 sq ft. but in some markets it may be listed as 2000 sq ft because the basement isn't considered (for tax purposes or whatever) as part of the listing information. 

Either way you picked a damned expensive place to live.  We've looked at Kelowna in the past as well and honestly the housing, for what you get, is nuts. 

To answer the original question, we're building a house currently, 1200 sq ft per floor, including a basement (so 3600 sq ft total) and it'll run us about $280,000 when all is said and done.  That's brand new though,  with high efficiency furnace, central air, central vac, hardwood floors in kitchen/dining room/foyer/breakfast area.  The basement however is not finished.