Let’s take a spin around the Internet to see how much homes cost. So many fascinating new studies have come out recently that it’s hard to keep up! Here are three of the most interesting that might be fun to share with your clients. (Click on the titles if you want to read the full articles.)
What $400K Can Buy in Canada
CREA has predicted that the average Canadian home price will rise to $397,000 in 2014. This article written by our friends at Point2 Homes takes a look at just how much home you can buy for that amount around the country, from British Columbia to Ontario.
The house shown above is 3,200 sqft single family home with 5 bedrooms and 3 bathrooms in BC. But if that’s not big enough, set your sights on New Brunswick – where you can get a whole 7-unit apartment building!
The Washington Post recently created an interactive map that shows you how much you’d need to earn, per hour, assuming a 40-hour workweek, to afford renting a modest one-bedroom in every county across the US. The map is based on the “fair market value” determined by the government.
Click through to the map linked above and hover your mouse to see not only the hourly wage you would need to make, but also how any given county ranks out of the 3,144 listed. Three California counties – Marin, San Francisco and San Mateo – are tied for most expensive, with a 1-bdrm housing wage of $29.83/hour. Thirty Arkansas counties tied for the least expensive housing wage ($7.98/hr).
A recent Forbes article pointed out that the tiny homes we love so much actually cost significantly more than many larger homes, per square foot. Tiny houses typically range between $200 – $400 per sqft, and that doesn’t include land!
Of course, one of the reasons that number is so high is because a tiny house packs a punch, with a lot of high-quality (and price tag) features in a very small space. Considering that even the most expensive tiny houses still generally cost well under $100,000, small living is still pretty affordable in the grand scheme of things.
What’s the most interesting housing cost news you’ve read recently? Share a link below!