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The Modern Farmhouse Is Today’s McMansion.
(www.nytimes.com)
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this post was submitted on 11 Jul 2023
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Last time I was looking to buy a house I was struck by how "the same" everything in my price bracket was.
By that I mean nearly everything was 3000+ sq ft, but was always 3 bed 2 bath. Maybe you got a bonus room or "play" room. But not a lot of really cool or useful extras for the increased cost.
So outside of just those rooms being larger, there was not much difference in the $150k house and the $300k house. They all had the same number of bedrooms and bathrooms, a garage, a decent kitchen, dining room, and "bonus" room of some description. I also noticed that the $300k houses also tended to be in a quarter acre of land while the $150k houses tended to be a half acre.
Did not really feel like you were getting more for doubling the price to me. Once you got enough square footage to meet your basic needs it was all diminishing returns.
Im betting the x2 was mainly based on a factor you left off: Location.
1200 sqft in Seattle can be 800k. 1200sqft in Dayton is going to be a bit less.
Nope, not really. 2 of the houses in question at the time were less than 5 miles from each other within the same county.
5 miles is forever when it comes to comps. House prices vary by city block in many places (in the US at least).
Yeah I was gonna say: if I'm 5 miles closer to any of the 4 major metropolitan areas that surrounds my house, value goes up tremendously.