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>1.2 million for a starter home
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You are currently reading a thread in /biz/ - Business & Finance

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>1.2 million for a starter home
how is anybody supposed to afford this?
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Don't like it then move somewhere cheaper. Not rocket science you entitled shit.
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>>1024314
you don't

you just sell your body to the banking overlords by something called a "mortgage" and then they let you live in one of their houses in the countries they own.
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>built in 1880

Jesus Christ literally could collapse at any second I bet.
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young home buyers arent buying 1.2 million dollar starter homes. That would put your income north of 100k a year if you are smart.
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>>1024314
It looks like you could hire a contracting agency to build an entire replica of that house for half of the asking price. Just find a plot of land somewhere OP
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newport is expensive
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>>1024366
what website is this?
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>>1024317
this
ib4: but muh job, muh higher income.
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>>1024314
3br/2ba colonial if fucking Newport? For that market, $1.5m is pretty good. On the flip side, a town like Irmo, SC, for $1.5 m you can get a fucking 5/3 with 2800sf on 5 acres lakeside. It's all market.

>Also, "starter home" is a bullshit term that realtors created to fleece dumbasses into thinking that they MUST buy bigger as they become more successful.
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Maybe if you weren't looking in one of the historically most wealthy WASP towns in the country that would help.
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>>1024451
That's an old listing, that shit gets floated around like a meme. That house sold a long time ago btw.
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>>1024366

Wouldn't you be afraid of intruders living all alone there?
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its newport what do you expect faggot
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My parents bought a place on Martha's Vineyard and paid $4.9 Million but that's the price of houses there. They could have bought a whole shopping complex for that in Montana or dozens of houses in North Dakota. It's all about where you want to live, so if this house is too expensive for you then you should move to where you can afford to live.
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>>1024321
>>1025450

This.

There are sweet spots for low COL with decent job opportunities and wages. The larger rust belt cities like Pittsburgh, Cleveland, and Cincinnati are doing well. Cheap housing, good diversified job markets, and some culture make them better options and NYC and SF.
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>>1024314

Live somewhere cheap, duh.

I hate the people and attitudes that come with high priced areas anyway.
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wait for the market to crash and buy them at firesale prices
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>>1024314
>thinking 1.2M is hard to make
>not working commission

just find a new thing
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>>1024314
3% down
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>>1025508

I've lived in very poor areas, and rich areas.

Rich areas, no one bothers you, everyone has a job, goes to work, or old retired people, don't bother anyone.

Poor areas, people drink on the stoop all day, cause trouble, throw beer bottles into your yard when they know you are at work... do drugs, throw empty bags of weed and meth everywhere,

I can tell you are what, 16, living in a nice middle uper class neighbourhood.

because If I sent you to where I grew up you'd say 'holy shit I want to go back to newport'
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>>1025525
You realize there are more options than "the ghetto or Hyde Park", right?
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>>1025542

Yeah. I grew up in a really bad ghetto.

I got a job, and a roomate, and moved into a poor area.

It got better- the people are more respectable, better place to live.

Then I bought a middle class home in a nice middle class neighborhood.

It was pretty nice. Still too much noise, music, people shouting outside on friday night, that kind of thing.

Now I live in a rich area, and it's perfect

The richer you are, the richer the people who live next to you, and well, the better your life
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>>1024325
I can't imagine any of the cheap shit houses they build today to still be standing in 2150. Kind of impressive.
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>>1024317
>>1024392
This. You entitled fucks don't deserve anything.

>hurr durr, I deserve not to be homeless
>gimmedat muney
Fucking millenials
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>>1024363
This.

When prices start to get that fucking high it seems to me it simply has to be cheaper to build yourself. If you have the skills to do some of the work yourself even better.

Sad to see it took only 7 years to forget all lessons from 2008. Real estate bubble and huge loans. Wonder when the time to start shorting bank stocks will come, gotta be soon.
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>>1025556

That's true. I've had dreams of building houses that are basically bunkers. Steel and concrete and granite. I feel like you should be able to make a ton of money but most decisions regarding buying houses are made by women and it probably wouldn't work out even though I think it's cool as fuck.
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Still more valuable and stable than the Greek economy
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>>1024363
500k to build a house like that... America what's wrong with you.
I can literally build a big ass villa with that money here.
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>>1025785
>land is free
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>>1024314
>Starter home
>Newport, RI
wut
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>>1024374

looks like trulia to me
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Enjoy getting cucked by Jews and buying these overpriced houses. I found a 6 room $400k house in LA, stay jelly.
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>>1027340
Enjoy living in Compton
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>>1027345
Should I buy this instead?
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>>1027340

>Compton

There's a reason that shit be cheap, yo.
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>>1027351

you'd be way better paying 400,000$ for a half acre of land near the sunset strip
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>>1024314
The natural state of humanity is servitude OP,
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>>1024314
>1.2 million
>that shitty, moldy siding

life is truly droll
>>
why buy a house when I could rent a place for 300 a week (including water/power/net) at a prime location for 30+ years with the same money? all while having the option to move whenever i want.
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>>1025617
well houses built with stone or concrete are freezing because I guess it's harder to insulate through stone. it's just smarter
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>>1024317
Fucking children wanting roof over their heads, they need to grow up and get a job.
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>>1024314
that´s a big rip off.. in my country you can buy a villa with 10 bedroom and a swimming pool for that money..

http://www.remax-malta.com/Villa-Semi-detached-For-Sale-Attard-Central_240171006-310
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>>1027520
Virtually every house in western Europe is made of stone.. and usually they are warm and comfy as fuck...
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>>1027351
Do you have a burning desire to live in Century City?
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>>1028218
This bothers me so much. American houses are cheap garbage. The thought of spending my life to pay off some wooden piece of shit that's going to rot and fall apart in 60 years is infuriating.
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>>1024314
That's a $45,000 house max where I live.
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>>1028248
So just buy the land.
Get a builder who will use the material you select.
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>>1028254
You must live in a total shit hole middle of nowhere town. I'm guessing rust belt or deep south.
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>>1028248
In my country (Malta)there are plenty of properties and houses that are easily 5/600 years old and they still don´t fall apart.... not joking
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>>1028258
The latter. Southern suburb in TN.
It's not paradise, but unless OP's town is literally 25x better, I'm still coming out ahead in housing deals.
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>>1028292
wayne~
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>>1028254
that's because that is the worth of the house, but the 1.2 mil price tag isn't for the house but the location.

i mean is this thread filled with underage retards that never bought property?
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>>1024325
At this point it's probably protected as a heritage home, might explain the price.
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>>1028292
dang that's beautiful.
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Would probably be $2.2m+ in London S M H

At least houses here aren't built out of 140yr old wood though.
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>me and wife live in Centennial, CO own a beautiful home
>I own a small business and few years ago we opened an accounting firm for her and the investment is really starting to pay off
>always liked Boulder, waking up to the mountains in your backyard
>look at homes around the size of ours but with a little more land for some good old fashioned fun
>$1.5m+

We're going to have to wait a little while longer.
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>>1027340
That area is being cleansed of nigs. Mexicans and whites are moving in.
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>>1024325

>He thinks 1880 is old

How quaint
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>>1024314
$1.2 million is the average price in Vancouver.

If you want "affordable housing," you have to live out innawoods.
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>>1028355
Are you a retard that wants to waste 1.2 mil on a $45k home?

My post is saying that it's highly unlikely the land is really 20x more valuable than the land here; it's a bubble.
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>>1027461
>rent a place for 300
show me now, no room mates wither fag
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>>1024321
There are people who can afford mansions.
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>>1024366
>Single-Family Home
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>>1028767

he said per week
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>>1024321
Rich people dont sell their body.
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>>1027340
I am really fucking mad I can't get a 1-bed apartment in the South Bay area near Torrance. Any tips? Yes, I am a fucking miser and want to save ever cent I earn.
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>>1028218

>insulating the inside face of brick walls on an existing property

Kiss goodbye to 10% of your floor area. Just pack a shitload of insulation into the roof and get double-glazing. The additional efficiencies of insulating the walls are unlikely to be worth it.

>>1027520

This is why you put your insulation on the outside of the stone or concrete. This gives you enormous thermal mass, meaning that the house will have a fucking stable temperature, warm in winter, cool in summer. Design it right and you can get enough warmth through South-facing windows that you may never need to turn on the heating. The main reason for not doing this though is because it's fucking astronomically expensive compared to lightweight construction.
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>>1028757

>the pile of bricks and timber is what's worth the money, not the land its sitting on

No, anon, you are the retard. Highly variable land value depending on location has been a basic economic fact for the entirety of human civilisation.
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>>1028248
>build wooden house
>maintain it for hundreds of years
>wood eventually petrifies
>????
>stable, long-lasting house

Jesus, I knew amerifats were stupid, but this is just basic stuff.
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>>1024314
That house would be like $200k where I am in NC.
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You can get a 6000 Sq ft. house in GA for around 475,000. And the housing market is on a bubble too. In 08 is was closer to $250,000
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I'm about to get a good 4br with 9 acres for right at 100,000

God bless the South.
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>>1024366
That is an expensive and large looking house tho
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>>1029543
Have to agree.
Houses around here range from $1 to $2 million, and they're all 4 bed / 3 baths.
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>>1029803
Seconded
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>>1030064

Round where I live prices are in the region of £1000/sqft (that's about $1500 in American). Puts a small 2-bed flat on about £700000, and this in an up-and-coming part of town. That's London for you though.
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>>1030100
Is Dagenham really that bad that people are paying that much just to not live there?
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Honestly banks are gonna be in huge trouble once they realize millennials don't have the money or the desire to own a house at these prices

They'll probably try predatory lending with some biracial hipsters selling it to us on a commercial that we adblocked anyway.

It'll collapse and we'll buy it once prices hit realistic levels
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>>1030118
In an isolated economy that'd work, but not so much in a global economy. China is utterly fucked and panicking, and if the top 10% of the Chinese population (the actually wealthy ones) deal in real estate, and only 10% of those deal in US real estate, that's 13 million investors.

China's hard-on for housing is gonna keep the boat chugging along until we're too old to care
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>>1030100
Fuuuuck.
At that rate, shit here would be 4.2
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>>1030152

Good point.

I'm holding out for a fascist separatist movement that kicks out foreign investors.
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>>1030165
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>>1030165
Is it just me or are there more based /pol/acks here than I thought?
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>>1029817
isn't grass supposed to be green?
Thread replies: 86
Thread images: 12
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