this post was submitted on 18 Oct 2023
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So I nice mid life house...
Median price homes aren't affordable, start home and median price home are mutually exclusive.
Median price home literally is going to be about the halfway point between a starter home and a fucking mansion
It boils my blood everytime I see these info dumps starting off with average or medium house prices.
That's not a fucking starter home price.
It's like looking at the median price of a car and then trying to say that cars aren't affordable for your first car.
You don't spend 20k to 30k in your first car, you buy near the bottom percentile as your starter. Your first car is like a fraction of the cost of the median.
Exactly. The median purchase price for new cars is ~$45k or something, yet I'd never spend that much despite making more than median salary. Things don't scale like that.
But what should be a starter home is also increased...unless you like manufactured homes...which is also expensive >.>
Not sure what you are talking about. Starter homes are still the same. Basic features, unfinished basement, no garage, 2-3 beds, 1-2 baths, likely 20-30 years old and requires some repairs.
Typically will be farther out of the city. It will be a longer commute but still within city limits. It will have some amenities nearby but not exactly on main street, but enough to suffice.
For most large cities I have looked at, usually is in the range of 150k to 250k. Totally affordable for someone making a decent wage of 50k+ to save up the down payment of 7.5k to 12.5k over the course of 1-2 years.
Where I'm at even manufactured homes are being built and starting at 100-200k. Shoot, my 50yo house was 400 and is now estimated to go for 500k which is wild to me after living here for a while.
I wish I was closer to where you're at 😂
Edit: my house isn't too crazy either. 1 car garage, 1 1/2 bath, 1300sq ft