Property Market

[ssc456]

Hey Guys,

I'm curious about the property market around the world.

Over here where I live in Milton Keynes around £140,000 would get you a small 1 - 2 bed terraced house (connected to others) in a reasonably location of town.

Me and the Mrs were nosing at houses in the states Florida specifically just because that's only location I could think of and there were like 4 bedroom detached huge houses I mean . . . 4 bedroom house for sale in Florida, Orange County, Orlando, USA

That's bonkers!! Is that price right lol?

What's the property market like over there for first time buyers?

 

[Life]

Hey Guys,

I'm curious about the property market around the world.

Over here where I live in Milton Keynes around £140,000 would get you a small 1 - 2 bed terraced house (connected to others) in a reasonably location of town.

Me and the Mrs were nosing at houses in the states Florida specifically just because that's only location I could think of and there were like 4 bedroom detached huge houses I mean . . . 4 bedroom house for sale in Florida, Orange County, Orlando, USA

That's bonkers!! Is that price right lol?

What's the property market like over there for first time buyers?

You can have my house for $200,000, 2 bath, 4 bed, about 10 acres.. Yeah the houses have gotten really cheap here in the states...

 

[ssc456]

You can have my house for $200,000, 2 bath, 4 bed, about 10 acres.. Yeah the houses have gotten really cheap here in the states...

Holy sugar!!

What's your mortgages like?
Here we have a new buy scheme which is helping but means for $200,000 house you'd need to save around $20,000 for a deposit and various solicitor fees etc.

Have you seen what pile of excrement £140,000 gets you in Milton Keyens where i'm from . . . .

1 Bed Apartment (shoebox) . . . 1 bedroom apartment for sale in The Hub, Milton Keynes, MK9

2 Bed Apartment (rough area) . . . .2 bedroom apartment for sale in Central Bletchley, MK2

2 Bed Terraced House (rough area) . . . . 2 bedroom terraced house for sale in Hunstanton Way, Bletchley, Milton Keynes, Buckinghamshire, MK3, MK3

 

[Life]

Holy sugar!!

What's your mortgages like?
Here we have a new buy scheme which is helping but means for $200,000 house you'd need to save around $20,000 for a deposit and various solicitor fees etc.

Have you seen what pile of excrement £140,000 gets you in Milton Keyens where i'm from . . . .

1 Bed Apartment (shoebox) . . . 1 bedroom apartment for sale in The Hub, Milton Keynes, MK9

2 Bed Apartment (rough area) . . . .2 bedroom apartment for sale in Central Bletchley, MK2

2 Bed Terraced House (rough area) . . . . 2 bedroom terraced house for sale in Hunstanton Way, Bletchley, Milton Keynes, Buckinghamshire, MK3, MK3

Lol why do they cost so much?? Here those are about 40k Each... Not 140k!!
Here, the mortage would be about: You borrow 200k from the bank. And pay about ( I think $200 month? ) until the whole house is payed off. Plus about 1.3% of what the bank lent to you. So around 220k after everything. Which is still rather cheap. I don't understand why your houses cost so much lol.

 

[Mossiac]

Ours cost so much because the government is busy looking like they are dealing with things and all the while house prices etc are spiraling out of control. But hey at least the national debt is going to take 2 weeks less to pay off.

Also the 20% tax doesn't help.

Mossiac

Sent from my GT-I9505 using Computer Forums mobile app

 

[strollin]

Property values are effected by many variables, but mostly they say the main thing about real estate is "location, location, location".

I live in Calif and have a 2900 sq ft, 4 BR 2 bath house on 2.25 acres that is currently valued at around $990,000 (it was valued at about $1.5 million before values fell a few years ago). If my house was in Mich (where Life lives) it would probably be valued at around $250,000 or so. If it was in the southern US, it would probably be valued even less. If my house was 30 miles north of here, in the same county, it would probably double in value.

Why is my house worth more here than if it was in Mich or somewhere else? Calif is generally considered a more desirable place to live than other places due to weather, available employment and higher salaries. My home's close proximity to the silicon valley (home to Apple, Intel, AMD, Google, Oracle, etc...) also helps to boost it's value.

 

[Life]

Property values are effected by many variables, but mostly they say the main thing about real estate is "location, location, location".

I live in Calif and have a 2900 sq ft, 4 BR 2 bath house on 2.25 acres that is currently valued at around $990,000 (it was valued at about $1.5 million before values fell a few years ago). If my house was in Mich (where Life lives) it would probably be valued at around $250,000 or so. If it was in the southern US, it would probably be valued even less. If my house was 30 miles north of here, in the same county, it would probably double in value.

Why is my house worth more here than if it was in Mich or somewhere else? Calif is generally considered a more desirable place to live than other places due to weather, available employment and higher salaries. My home's close proximity to the silicon valley (home to Apple, Intel, AMD, Google, Oracle, etc...) also helps to boost it's value.

I can hardly imagine what this house would be worth in calif...

 

[strollin]

Life - I hope your house is not close to Detroit as I understand that property values there are practically non-existent. A buddy of mine's parents had a house in a suburb of Detroit. After they passed away, my buddy couldn't rent or sell the house so finally just let it go for taxes.

If your house was in the central valley or the northeastern part of Calif, it would probably be worth about what it is in Mich but if it was located in certain cities around the silicon valley it might be worth millions.

 

[strollin]

... Here, the mortage would be about: You borrow 200k from the bank. And pay about ( I think $200 month? ) until the whole house is payed off. Plus about 1.3% of what the bank lent to you. So around 220k after everything. Which is still rather cheap. I don't understand why your houses cost so much lol.

Actually, mortgages work very differently than what is described above. If you were to borrow $200K from the bank you would typically have a 30 yr mortgage with an interest rate of about 4.5%. The payment would be $1013 per month and the total amount paid to the bank after 30 years would be about $365,000.

 

[IAntDemo]

Id like to move to USA but I can't because we need something and we're only allowed their for upto 6 months I think.

Our houses cost this because people borrow from banks and can't afford to pay back, banks run out of money to lend and mortgages go sky high because of this.

Our house is valued at £300,000 and I think my dads has paid the mortgage off so if he had to sell it, it would be quite hard to sell because of our main problems in the uk.