How much would you spend on a house?

Question

ChrisMaster69 · Accepted Answer

Pretty much as much as a mortgage I could qualify for and where the monthly repayment left me some cash for food and bit of social.

The more expensive the house, the more it is usually effected by house price rises.

5% on £500k is better than 5% on £200k

I have broke those rules before and maxed out my mortgage for a property which meant nothing for social and just food and bills, however we flipped it and made a good profit.

Guy13 · Accepted Answer

it’s not how much you spend BUT how one spends what one has. I’ve purchased properties. Some have tripled in Value. Rents are almost doubled monthly from 4 years ago at purchase. Buy cheap in dumpy area, fix inside like palace, find good tenant, and they will never leave….

TransAm85 · Accepted Answer

I've been buying farmland. Build ur own home. I took the trailer and spent the night on the land last weekend.. it's super quiet. There's a base frame to build a home and it wouldn't take long. Sell that, buy more land. Repeat. Fixing up old homes seems nice, but the cities in my state are getting super ghetto. Try farmland. More profit.

letuswaltzforthedead · Accepted Answer

Depends on the size of the house. The best house I've seen nearby was selling for 599,000 with 12 bedrooms. Most of the normal houses sell for around 400,000-800,000 with a handful selling higher. I wouldn't mind a more expensive house if it's closer to my ideal home.

MikeInHawaii · Answer

My answer would change depending on the city. In Honolulu, it is zero. The median price for a home here is about $1.1 million and close to a half million for a condo. I could put that much in stocks with a high dividend yield and pay rent indefinitely, with plenty left over. Furthermore, when I lived in Waikiki, I was about a foot above sea level. If, in twenty years, with climate change, my old condo building is ankle deep in water at high tide, as a renter, it’s not my problem.

AviatorTom · Answer

Whatever I can reasonably afford. Whenever I've gone house-hunting (I've bought a few houses in my life), I set an affordable price for me, typically with the help of my real estate agent, and look at houses in that price range, plus 10%. It helps to get pre-approved for a price by a mortgage company, bank or credit union, so that you know what you can afford, and so that the seller knows you are a serious buyer.

Drumlin2001 · Answer

Currently spending pretty much everything I can on a house in south east England. c£400k.
I wish i had made better decisions when I was younger and invested in property at 19 when I was going to. Unfortunately waited till I was 30, and haven't played the ladder game very well. I was in a bad mental state with no reason to plan for future.

exitseven · Answer

When I bought my current house I spent every last dime I had on the down payment. In fact I had to send my wife and kids away and I stayed home because I needed one more paycheck to have enough money to pass papers. I stayed home and did not answer my phone until the next payday.

Blueeyes81 · Answer

150,000. Houses are relatively cheap where I live. 150k will get you a nice 3 or 4 bedroom. I spent 70k and bought an older home in the country that came with a nice shop, detached garage and 2 acres. It has some issues but nothing I haven't been able to fix on my own.

LiamSawyer · Answer

In the area I live you can't buy a 3 or 4 bedroom bungalow for less than $1,500,000.00 and they average 1300 to 1400 sq. ft. & are generally on 1/4 to 1/3 acre lots. Larger two stories on the same sized lots are more expensive.

WindAtMyBack · Answer

I might go as high as 200K, but I prefer to stay under 150K. The part of the country where I live that's a decent house in a nice suburb - not the nicest house, but more than what I need.

DCooper · Answer

After the coming market crash, probably as much as I could round up. It'll bounce back within 10 years, and I'd be way ahead on it.

Dinklex3 · Answer

More interested in condos (I'd probably have to fight my future husband)  I wouldn't spend more than 400k.

genericname85 · Answer

I'd buy a fixer upper for like 150k. Cause in my view that's a better investment than buying a new house. Also it's more fun to me to have this sort of project.

Hispanic-Cool-Guy · Answer

Totally depends the state and city you live in. In Miami I would not go over $375,000.

In L. A. or New York city that's pennies and a cheap house but a mansion for places like Georgia or South Carolina.

Arwen06 · Answer

I don't know, and it doesn't matter. I'll never be able to own one 🙄

Reaper1985 · Answer

depends on location, square footage, condition it's in and how much useable land comes with it.

Likes2drive · Answer

Maybe 300,000 but that’s not possible here, average is 600,000 here and up so I have to move out of state now

Redstang88 · Answer

Probably looking around 450-500 if the market stays where it’s at

nisnaia · Answer

400k for the purchase at most and another 100k renovating if needed.

Anonymous · Answer

We bought our house for $745,000 which was our maximum.

Anonymous · Answer

I wouldn’t go above and beyond. If the house is in great conditions and the neighborhood is safe and quiet And has a reasonable pricing im in.

Sparkie460 · Answer

I paid 105k for my house 27 years ago. Now it's worth 475k as of 2 days ago.

OddBeMe · Answer

You know they come in different shapes and sizes right?

Jamesshinobi · Answer

i spent $135,000 usd for a 2100 sq ft house on a quarter acre a couple years ago

lofii · Answer

No more than 400k It's all based on the area and state you live in

TallAnon · Answer

Roughly 450k I would say, that sounds like you'd get a nice one.

driven159 · Answer

I spent 94,000 put 12,000 into it worth almost 200,000 in less than a year

altdbob · Answer

depends on a lot of factors. Location, floor plan, how much lands comes with it. And of course, can I afford it.

Agape93 · Answer

Depends on the house, area and how much land I get

MysticDevice · Answer

Not enough to afford anything in this market.

annabananna · Answer

It would depend on the location.

ArtemisSilver · Answer

Houses in Detroit for a dollar... What a deal!

idkIoI · Answer

I don't think I'll ever be able to buy one 😔

msc545 · Answer

One to five million in SoCal

legalboxers · Answer

$500,000.. 4 bed - 3 bath, basement,

EaterPeter · Answer

As much I can afford.

jimmy2 · Answer

Not much as they want now days

FilmGuy93 · Answer

$300k-400k

call_me_scar · Answer

What I could afford

Anonymous · Answer

Whatever it's worth.

Creampiekarl420 · Answer

Not a dime over 10k

Waldoe · Answer

500.

AFretiredTXn · Answer

$550K.

Anonymous · Answer

No more than 100k.

RandomGuy1030 · Answer

$50,000,000

Talkingtotheone · Answer

i dont want one yet

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