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We hear a lot about how people could live and how some people do live in certain cities on C-D. But cost is obviously a limiting factor for the average person. So, if I were to write you a check for 500 big ones for the sole purpose of buying a home, which city would offer the best deal?
What neighborhood(s) would you be able to afford?
Would it be near public transit and other amenities?
Would it be a one-bedroom condo or three-bedroom house?
Would it be in a "transitional" neighborhood or a well-established one?
well with 500,000$ in Indianapolis i could buy an upscale home on Meridian Street on in Meridian Hills. or even Carmel and Fishers.
I would be in one of the fastest growing cities in the midwest and within a 20 min drive to Downtown so convience is king. Plus i actually probably could afford more due to Indy having a cost of living 20% below the national average. So i could afford more of a home and offset that with a low COL but having plenty of amendities too.
So, if I were to write you a check for 500 big ones for the sole purpose of buying a home, which city would offer the best deal?
That much money would pay for a premium apartment in Philadelphia for a few years at least, so that's somewhat like buying a home for me. So it'd be Phiadelphia for me, choosing from the list.
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What neighborhood(s) would you be able to afford?
With that much money, I could afford to move into an apartment in Center City.
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Would it be near public transit and other amenities?
yeah BUDDY, smack-dab in the heart of the city.
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Would it be a one-bedroom condo or three-bedroom house?
1 bedroom apartment.
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Would it be in a "transitional" neighborhood or a well-established one?
I'd imagine Philly being well-established downtown.
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$500k wouldn't get you much of anything in any of those cities except for Philadelpia or Chicago, and even then it's not going to be that nice. If I'm going to spend that much money, it needs to be nice.
$500k wouldn't get you much of anything in any of those cities except for Philadelpia or Chicago, and even then it's not going to be that nice. If I'm going to spend that much money, it needs to be nice.
That's not true. It might not buy the lap of luxury, but all of those cities have listings for condos well under $500,000. And some of the more outlying sections of Philadelphia, Chicago, Boston, and DC will have single family homes for about that or not much more. Housing is expensive in these cities, but mostly what is meant by this is that you are buying something smaller on less land. It doesn't mean there isn't anything that's affordable.
That's not true. It might not buy the lap of luxury, but all of those cities have listings for condos well under $500,000. And some of the more outlying sections of Philadelphia, Chicago, Boston, and DC will have single family homes for about that or not much more. Housing is expensive in these cities, but mostly what is meant by this is that you are buying something smaller on less land. It doesn't mean there isn't anything that's affordable.
Damn, those seem like some pretty nice places for those prices. The # of bedrooms/baths and square footage you can get in the city is really good. And the amount of land you get in the suburbs is a lot imo. My standards have clearly been lowered by living in overpriced CA. If all my family and childhood friends weren't here I'd easily choose Philly or Chicago if I had $500K to buy.
We hear a lot about how people could live and how some people do live in certain cities on C-D. But cost is obviously a limiting factor for the average person. So, if I were to write you a check for 500 big ones for the sole purpose of buying a home, which city would offer the best deal?
What neighborhood(s) would you be able to afford?
Would it be near public transit and other amenities?
Would it be a one-bedroom condo or three-bedroom house?
Would it be in a "transitional" neighborhood or a well-established one?
If someone gifted me $500K, I would probably stay in Indianapolis; most likely buy a house by Mass Ave/St Joseph or the Old Northside. Perhaps I would move to Irvington.
Given that this is not the concept of the thread and I'll play along.........I would move to Chicago, within a block of a Red or Blue line stop near Belmont Ave.
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