Homing the 60 Blog

Image result for homebuying images

That house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.

How much money will it take to buy a similar home to yours in another state?  I live in a small condo in California and I know it’s expensive.  But if I were to take that square footage and move it to, say, Oklahoma, I could probably live in an enormous house.

Time recently showed a comparison of various home prices across the country.  The median value of a home in the U.S. in 2017 is $196,500.  According to Zillow, here is what you can buy for that sum of money:

  • Four 4-bedroom houses in Detroit ($45,000 each or $180,000)
  • One 4-bedroom house in Columbus, Ohio ($195,000)
  • One 3-bedroom house in New Orleans ($191,000)
  • One 2-bedroom house in Anchorage ($189,000)
  • Half of a 1-bedroom house in Seattle ($388,000)
  • Quarter of a 1-bedroom house in San Francisco ($819,000)

This is crazy!  Would you want to live elsewhere?  Could you sell your current house and purchase something comparable in another area?  The prospect of living in California in a few years on a fixed income seems scary.  We could conceivably run out of money.

We have great weather here, but I’d get a lot more for my money if I lived in Anchorage.  Bad news?  I’d be living in Alaska.  Four homes for the price of one in Detroit?  Sounds great, but it’s still Detroit.

Forbes and AARP teamed up to name the 25 best places to retire in 2017. Where would you go?

  • Athens, Georgia
  • Bella Vista, Arkansas
  • Bethlehem, Pennsylvania
  • Boise, Idaho
  • Brevard, North Carolina
  • Clemson, South Carolina
  • Colorado Springs, Colorado
  • Fargo, North Dakota
  • Grand Prairie, Texas
  • Green Valley, Arizona
  • Harrisonburg, Virginia
  • Iowa City, Iowa
  • Jefferson City, Missouri
  • Lawrence, Kansas
  • Lewiston, Maine
  • Lincoln, Nebraska
  • Maryville, Tennessee
  • Ocean Pines, Maryland
  • Peoria, Arizona
  • Port Charlotte, Florida
  • San Marcos, Texas
  • Savannah, Georgia
  • Summerville, South Carolina
  • The Villages, Florida
  • Wenatchee, Washington

Forbes states:  with economic factors fluctuating yearly, there have been several changes to the new list from the 2016 version. Sixteen of this year’s towns weren’t ranked among the top 25 last year, and only a handful (Athens, Fargo, Lincoln, San Marcos) have maintained a place on the list for each of the past three years; Fargo has made the cut for seven years straight.

Weather conditions aside, and not thinking about the goings-on on the fictionalized Fargo TV series, perhaps we might all want to move to North Dakota.

 

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3 thoughts on “Homing the 60 Blog

  1. Wow…those are STAGGERING to read! I notice that NOWHERE in California has made the list. And $918,000 for an 1892 square foot home???? The prospects of finding somewhere to retire with a lot of money left over is not promising here. I am a native southern Californian, as is Dale. The first home we bought, after renting for years, was in Riverside. It was a 1700 square foot home, large back yard, larger front yard, three bedrooms, two baths…was $102,500! Our second one, which we lived in for 17 years, also in Riverside, had four bedrooms, two baths, 2,500 square feet, a large yard, a swimming pool with attached Jacuzzi, we bought for $188,000. It was beautiful and I loved living there. And I miss that house. The price of it went up to $500,000, then 2008 hit us, and it dropped in value to about half! Our kids were gone by then, and it was just a lot of house for two people. We finally sold it (we listed it on a Friday and it sold on the following Sunday). We moved to Orange County and the rest is history.

    But I’m thinking back to my parents home in Torrance. They bought it, brand new, for $10,000! Three bedrooms, two baths, around 1,500 square feet. I believe their house payment was right around $90 a month! You know, we could retire to Belize and live like kings and queens for around $1,200 a month. I’ve done a lot of research on this. You can arrange for your Social Security to go right there. And, because it’s the baby boomers who are all retiring, they are building incredible health facilities to lure us there. Awesome medical care for $50. Let’s go!

    Liked by 1 person

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