In terms of local real estate where you live?
444,233 Euros
326,053 GBP
50,960,060 PKR
31,980,937 INR
621,369 CAD
640,646 AUD
62,109,204 JPY
Those numbers are based on today’s conversion rates.
Average price of detached home in Toronto hits $1.15M | Toronto Star
^ This article got me thinking that real estate prices really are about location and demand and don’t reflect how much “house” you’re actually getting.
Re: What would half a million buy…
~ Half an Acre of land in new housing society in suburbs.
Re: What would half a million buy…
In the suburbs of Dallas, $500K will get you the following: large 5 bedroom house, typically over 4000 sqft with full upgrades…3-4 living areas, gourmet kitchen, handscraped hardwood floors, wrought iron staircase, large backyard, maybe with a pool, excellent schools.
Re: What would half a million buy…
Slightly off topic. A young couple relative chose 7 year Apr for 30 yr mortgage. The other yr fixed was 1 pct higher. At these low interest rates I can’t get the logic.
Re: What would half a million buy…
OP, your conclusion is right and surprisingly it took longer.
The real estate value is very high in Canada, especially cities like Toronto. so it all depends which loc you are talking about.
In manhattan or LA it can be equally high while if you goto south carolina or Texas or Maine it’ll be again very low.
Re: What would half a million buy…
Only a 2-bed apartment where we are, near London..
In other parts of the UK you could get a 4/5 bed detached home for that..
Re: What would half a million buy…
Here in Karachi, we can get a 2 x 7 x 3 feet area at around 5000 PKR to rest in peace (or to suffer in pieces, totally depends on our deeds before occupying the said space).
Re: What would half a million buy…
4 bed, semi-detached house on a 35’ x 100’ lot (if you are lucky), in Mississauga.
property tax would be around $7K/year or slightly more.
Re: What would half a million buy…
hey khatti…what would be the annual property tax on such a property?
Re: What would half a million buy…
Is the cost of building the home on top of that?
Re: What would half a million buy…
Depends on the suburb but appx $8000-$9000
Re: What would half a million buy…
And that too you wont get easily.. the relatives may end up giving a bribe to gorkan for that.. I witnessed that few years back.
Btw its not that cheap here either. Ofcourse not the bribe part but still considerably expensive
Re: What would half a million buy…
hmm…I was under the impression that it was a lot more than that.
glad I asked.
Re: What would half a million buy…
So this is sort of the point. It’s interesting that people living in Manhattan with well over 6-figure salaries are living in 2 bedroom apartments that are teeny-tiny compared to the larger homes in the suburbs that cost less! Affluence and city living isn’t about size, but about location and it seems like a lot of people are willing to live in less to be in the “city”.
What’s actually sad is that people working in service industries who make considerably less have these super-long commutes because they can’t afford to live in the very city that they keep running.
Re: What would half a million buy…
Agreed. Thats exactly the case. Now i dont know if you are aware but NPR (National Public radio) is doing a very exclusive show about real estate in different cities and i guess they started with NYC. They totally uncover the whole gimmick. This whole game is played on such a broad scale but as you said in the end a normal working class person ends up with maknig a choice b/w spending more and living all squeezed up or bearing the pain of commute while having the family enjoy broader area.
Try to listen to that show, must be available on podcast
Re: What would half a million buy…
For that exact house that I posted, the annual property taxes are $9000. I don’t have the exact lot dimensions, but it’s 0.19 acres.
To give you some perspective, about 20 miles away, in another suburb, a similar house (size, age, construction etc) on over a quarter acre has annual property taxes of $10,108
Re: What would half a million buy…
You would get a pretty average size house, which needs some work done. Actually nowadays that means nothing. House prices are asmaan se baatein karing these days.
Re: What would half a million buy…
Where i live in Toronto here. The average house is around 550,000 to 600, 000. That is for detached house. Semi-detached houses are around 450,000 to 500,000.
Re: What would half a million buy…
you will not find a detached house in Toronto for that kind of money…very, very unlikely unless it’s in a very rough condition.
in some of the more distant suburbs you can find such a property.
If you know of a house in Toronto for 600K or even 700K that is detached, let me know, I have a buyer. LOL.
Re: What would half a million buy…
2-3 bed apartment or a small 2 bed terraced house on a less desirable road.