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Discussion Starter #1 (Edited)
ok, so I live in Vancouver and it's becoming slowly impossible to buy a house unless you make a TON of money! Here's a rant...

Here's a map of the layout of Greater Vancouver



All the highlighted areas are greater Vancouver. Downtown Vancouver is located towards the top end of the region labeled Vancouver.

A 1300 sqft town house 2 bdrm, 2 bath costs around $400 000 (less than 30 yrs old) in all the surrounding areas of Vancouver other than places that are at least 1 hour's drive from downtown (more rural) or areas that are deemed a little less safe.

In the prime areas like West Van or downtown it goes up to $600 000 to $800 000. Even apartments/skyrises in that area are $500 000 - 700 000.

In the more preferred areas of Richmond, Vancouver, New Westminster, North/West Vancouver, Delta and most of Burnaby, a 1500 sqft house with 2-3 bdrms is 700 000 - more than 1 million. This is with virtually no land, tiny yard.

Even in more remote areas such as Langley or Surrey, it's still $500 000 to $800 000 for a house with NO land.



So...for a dog owner that want some land on their property (1 acre or more) even in areas like Langley (where I plan to move) it'll cost more than 1 million for a house. How does that sound affordable at all?? In areas such as Richmond (where I live now), the prices I've seen start at more than 1 million up to about 2 million.

Unless you had 2 working people in your family, both making above average incomes of 50 000 (or more) per person per year and you didn't have a lot of kids or debt then you can barely afford an average house on a very very long mortgage and with a 30% down payment!
 

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That all sounds entirely ridiculous to me!

I'm not sure exactly the size of our house - something around 1400 SQ FT we have a front, side and back yard (end unit house in a row of four) it's not huge but it's enough, 4 bedroom (we had an extra added when the house was built) 3 1/2 bathrooms (one extra added) finished basement and we had a breakfast bar put in. When we bought our house back in like 1994? brand new it was something like $170,000.

A house similar in size with 1 less bathroom and 1 less room that was built in 2003 is going for $200,000. The most expensive house around here is going for $1,500,00.00 There aren't that many rich people living around here. If you go more into the city, you'll find houses with little yards under $100,000.
 

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Discussion Starter #3
I love Vancouver, I don't know what to do. At this rate, considering I don't really want to get married (so no pooled income) I may never be able to live in a house...

Even renting an apartment here is $1200-1500 per month and the majority do not allow any pets. Plus I really hate apartments....

I love looking at housing but looking just puts me in despair!
 

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That's really crazy! I'm sorry to hear :(.

Renting a house identical to mine (same development) they rent for about about $1200. That's really crazy up in Vancouver. It makes me sad that you'll not be able to live in a house! :(
 

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newfoundland is getting more and more expensive too. we aren't in the ballpark of vancouver yet but it is really higher than it should be, imo.

we bought our house last june. we do have quite a bit of land, not a ton, but not too bad. our lot is 100x300 feet. our house is about 2000 sqft (a little less). we bought it for 142,000 with brand new siding (our choice of colour) and new windows installed before we moved in. it is 3 bedrooms and 1 full bath with 2 half baths. we had to do about 7000 worth of electrical work when we moved in and still have quite a bit of insulation work to do. we live in a rural town of 1200 people. ouch!
 

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Housing is actually very reasonable where I live (Louisville KY) and if you have good credit and a moderate down payment, you can generally buy a house for about the same per month (on a fixed 30 year mortgage) as you'd pay for an apartment of the same size. As in, a 2 bedroom house with a yard (not land land, but a yard) is the same as a 2 bedroom apt and 3 bedroom house = 3 bedroom apt for the most part. That's because less people can get together a down payment and have the credit to buy so the landlord and property investors can charge higher rental prices (plus, they have to be able to cover damages etc whereas a homeowner is stuck with those expenses themselves).

There are very expensive parts of town and very poor parts of town, but a "typical" 3 bedroom house in a safe, middle class but not fancy area costs about US$100,000- 150,000. Which is affordable to many 2 income households. A 2 bedroom house could go for around $70,000 to $100,000 which even a fair number of single income households can manage.

Now, you could buy a horse farm property for upwards of $10 million+ or a foreclosure rehab house in a bad area for $5000, but realistically, most people would be considering property between about $70,000 and $250,000. There are some AMAZING older brick Victorians in the $250,000- $400,000 range.

Of course, incomes and housing prices go hand in hand. I like to shock people here by telling them I used to pay $1100+utilities for a 400 SF studio in San Francisco with a courtyard and no parking. But then again, I made about twice what I make now. Part of the reason I moved here though is cost of living. You can have a "regular" job and afford a nice little house, decent yard and a good standard of living overall (as in, things like car insurance etc cost less too).
 

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I bought my home about 9 yrs ago, and at the time, what I paid - 109,000- was a GREAT price. Most homes I looked at were 1-2 bdrms, caving in roof and or leaking basement/crumbling foundations.
When we found this 3 bdrm, bath and a half, with full basement, with the upstairs completely remodeled and a nice yard in a great neighborhood, we jumped on it!!
and it is a nice house.

But now....1/4 of the houses on my street have the dreaded orange foreclosure sticker on the front door. The nice sized ranch across the street from me sold for about 30,000 last year, and Ive heard tales that some are selling for less than 15,000(which kinda makes me want to puke).

We live in MI. I had a friend who moved here from CA and she was so happy to be able to buy a little home for her small family...said back in CA they could barely afford to rent an apt. Its strange how drastically the cost of living can change across state lines.
 

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You can buy a new 1300 sf 4 bedroom 2 bath home with Refrigerated air, appliances, 2 car garage in a newer subdivision here for 104000. You can get a 2500 sf home with refrigerated air in a good neighborhood for around 250k.
 

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That is why I moved to the Interior of B.C. I have a small one bedroom home on an acre of land which suits me just fine. Room for my horse and dogs. I did buy it just before the prices started to really go up and have had to do a lot of renovations (added on an extra room for laundry, etc.) but the prices have almost tripled since I bought it 8 years ago.
 

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My husband and I bought a 3 bedroom 2 bathroom home that is 1850 square feet (That includes our attic and unfinished basement) for $46k
 

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Between 50 and 75K, depending on the condition hahaha.

But for real. It's all mobile homes, only two different models in town.
 

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Moving to the DC Metro area and planning to buy in Northern VA. If we buy in Fairfax county (closer to DC) an older house on around a /14 acre will be around 400,000 I can go to Prince William County and geta newer house on more land for less (loking at a 2500 sq ft house on 3.8 acres with a pool for 399,000).
 

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Back home in WI I don't think we could buy, property taxes are very high. We own our house outside fort hood tx. Bought it bran new, 1500 sq ft for 118,000. We are renting at fort Rucker al, and if we get stationed at fort Campbell, we may buy a house there after we sell our house at Hood. I can't believe how high it is by you!
 

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I live in midtown Toronto. I have a bachelor apt in a nice neighbourhood for just under a grand a month. A 1500 square foot home in THIS area would likely run upwards of 600 grand or more. Most of the houses on the street on the other side of the park are in the 1.5 to 2 million mark.
I live in a VERY nice neighbourhood...yet I can't afford anything larger than my little hole in the wall. It's a trade off for me.
 

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The area I just moved from (West Texas) you could get a large home with all the amenities (land, pool, workshop, whatever floats your boat) for a 300,000-600,000. We are selling our just over 800 sq foot home with a large lot/yard for around 68,000. You average nice home with a nice yard in a safe neighborhood will be 100,000-250,000.
 

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it all depends on location. In Minnesota, it depends on how close you are to the Twin Cities. Close in, you are looking at a normal range of about 150,000 to 400,000 for homes depending on the size of the house and how big the lot is. as you get closer to Minneapolis, the prices rise except in the higher crime areas, and a downtown penthouse will cost you 500,000-800,000. A large home on one of the lakes will start at 800,000 and go up from there.

We are in one of the suburbs and have a 2 bedroom, 1450 sq ft townhome, 2 car garage and shared open space (as large as a park) and the prices are about $145,000 USD right now, plus monthly HOA fees of $200 for exterior maintenance, trash, snow removal and lawn care. And very animal friendly, in just our small neighborhood there are almost as many dogs and people!
 

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My husband and I just bought an approx 1200 sq foot (3br, 1 ba) home in the city, move-in ready for $70,000. We live in MI. We had a lot of cheaper options for a similar size and type but required more fixing up than we wanted to do. Outside the city the prices of similar sized homes increased a bit. But you can easily buy a very nice home and some land for less than 200K around here.
 

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My 8 yr old custom built house was just appraised at 385k. It's a 2700 sq ft, 3 bed, 2 1/2 bath on 5 acres with a seperate 1500 sq foot metal building. Half of the property is usable, the other half is hills. I'm in the Inland Empire in So. Calif.
It's on the market, if anybody's interested ;)
 

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I'm in So Cal but in a beach city. Bought my house 2years ago for 385k. It has 1618 sq ft 4 bed 2 bath on a 6000 sq ft lot and built in 1966. I never would have been able to afford a newer/bigger house or a bigger lot by myself. Property taxes and insurance are another 400 per month.
 
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