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Old 02-25-2023, 10:41 AM
 
16,415 posts, read 8,215,049 times
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Quote:
Originally Posted by simplexsimon View Post
First, $825k is a ways away from $1 million. Second, that’s why it’s $825k and not $2.3m like this one. https://redf.in/RSutnw (ok second ones a bit bigger but the point remains.)
As far as I'm concerned 825k is not that far at all from a million. It's 175k away from a million. Once you've spent 825k, 125k is nothing really.

It amazes me how much people have to spend these days on homes and home improvement these days. Not only buying 825k+ homes, but gutting them and putting in brand new everything. I wonder how long this will go on for. It isn't just high level execs doing this either...so people either are spending money they don't have and are in debt or they get money from someone else.

Some people are just very concerned about image. Like, oh i have to update my kitchen with the latest and greatest so I can take pictures for instagram and everyone will assume I have this fabulous life based on my perfect house. They will just want to update the kitchen again as soon as it starts to become dated and be shelling out who knows how much. Then others look at these amazing newly updated homes on social media and think oh I need to do this too. The home repair people should really be thankful to instagram and all these other social media platforms.

Last edited by msRB311; 02-25-2023 at 10:49 AM..
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Old 02-25-2023, 10:43 AM
 
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Originally Posted by matrix5k View Post
Calling 825k a million is an overstatement. I live in Burlington and the cheapest new construction here is 1.5mil, that's nearly twice 825k. So yes central MA is way cheaper than eastern MA.
Ok, here we go again. 1.5 million is quite a bit more than 1 million. 1 million is not that much more than 825k. 1.5 mil is way more than 825k. You could buy another house with that difference.
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Old 02-25-2023, 10:45 AM
 
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Originally Posted by newenglandgal123 View Post
It's nuts...I was on the fence about selling my place or keeping and renting it out because I don't want to give up my 3% rate. I don't really want the hassle or risk of getting a bad tenant as a landlord either. So now I might still buy something elsewhere and just keep my place. Even if it sits empty for a few years until it appreciates some more before I sell it. Yeah, I'll have to come check on it and either do the lawn care or hire it out but still that's how cheap it is as compared to current rents and prices that I may just be able to do that!
I will likely die in the house I own now and that's fine by me. I will be one of those old ladies living a house that hasn't been updated in decades lol.
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Old 02-25-2023, 10:47 AM
 
Location: Suburban Boston Lifer
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Originally Posted by msRB311 View Post
As far as I'm concerned 825k is not that far at all from a million. It's 125k away from a million.
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Old 02-25-2023, 10:48 AM
 
3,627 posts, read 1,851,774 times
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Originally Posted by matrix5k View Post
Calling 825k a million is an overstatement. I live in Burlington and the cheapest new construction here is 1.5mil, that's nearly twice 825k. So yes central MA is way cheaper than eastern MA.
Well, comparing Worcester to Burlington is not apples to apples. Maybe pick a comparable town in central MA to Burlington and see what the price comparison looks like.
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Old 02-25-2023, 10:50 AM
 
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Originally Posted by bricka View Post
I meant 175k. Got in very late last night on a flight and am out of it.
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Old 02-25-2023, 10:55 AM
 
2,710 posts, read 1,737,535 times
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Quote:
Originally Posted by msRB311 View Post
Ok, here we go again. 1.5 million is quite a bit more than 1 million. 1 million is not that much more than 825k. 1.5 mil is way more than 825k. You could buy another house with that difference.
Quote:
Originally Posted by msRB311 View Post
As far as I'm concerned 825k is not that far at all from a million. It's 175k away from a million. Once you've spent 825k, 125k is nothing really.

It amazes me how much people have to spend these days on homes and home improvement these days. Not only buying 825k+ homes, but gutting them and putting in brand new everything. I wonder how long this will go on for. It isn't just high level execs doing this either...so people either are spending money they don't have and are in debt or they get money from someone else.

Some people are just very concerned about image. Like, oh i have to update my kitchen with the latest and greatest so I can take pictures for instagram and everyone will assume I have this fabulous life based on my perfect house. They will just want to update the kitchen again as soon as it starts to become dated and be shelling out who knows how much. Then others look at these amazing newly updated homes on social media and think oh I need to do this too. The home repair people should really be thankful to instagram and all these other social media platforms.
If y'all think 825k is close to 1 million then how about y'all lend me a million dollars, and I'll pay you back 825k okay? It's pretty much the same after all.
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Old 02-25-2023, 10:58 AM
 
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Originally Posted by matrix5k View Post
If y'all think 825k is close to 1 million then how about y'all lend me a million dollars, and I'll pay you back 825k okay? It's pretty much the same after all.
That's not quite the way I was looking at it. I am not going to say that 175k isn't that much money but many people who look for a home have a budget in the 800k-1mil range. Many have the attitude that if they find something at the top of that budget they'll go for it.

Based on how much homes prices have gone up everywhere people don't seem to have a very frugal mindset when it comes to home. My guess is people are spending at the top of their budget to say they're living somewhere great or to get that fancy home. Or they are stupid and paying too much for a home in a crappy town.

Last edited by msRB311; 02-25-2023 at 11:39 AM..
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Old 02-25-2023, 11:14 AM
 
Location: Westwood, MA
5,037 posts, read 6,928,372 times
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Quote:
Originally Posted by matrix5k View Post
If y'all think 825k is close to 1 million then how about y'all lend me a million dollars, and I'll pay you back 825k okay? It's pretty much the same after all.
I think you may have a poor understanding of what the word “close” means. There’s already a word for exactly the same (identical). Close just means the difference is relatively small. It doesn’t mean that the difference is negligible and someone will gladly give it to your for free.

For real estate, close generally is used in the sense that many people will look at homes containing that range of prices. If you told your real estate agent a price range was $800k-$1m, they would consider that reasonable (and then probably show you homes at $1-1.2m).
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Old 02-25-2023, 11:20 AM
 
3,627 posts, read 1,851,774 times
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Quote:
Originally Posted by matrix5k View Post
If y'all think 825k is close to 1 million then how about y'all lend me a million dollars, and I'll pay you back 825k okay? It's pretty much the same after all.
I think Shrewsbury might be a better comparison for a town in central MA to Burlington. It has a slightly higher population but it still has commercial and lots of retail like Burlington. Here ya go....over a mil...https://www.zillow.com/homedetails/1...56719785_zpid/


https://www.zillow.com/homedetails/9...62737055_zpid/
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