How much is too much for a house?

[i-need-a-martini]

I was chatting to a friend from Adelaide tonight who is selling her house in a beachside suburb (Semaphor Beach?). Shes about a block away from the waters edge so I thought she'd get a few mill. (I'm from Sydney lol!).

But she reckons she'll be happy to hit the $500,000 mark.

I can't imagine a house so close to the city and so close to the water selling for that price but then again, being from Sydney, I am a little skewed when it comes to real estate.

So what do you think is a fair price to pay for a house 10km from the CBD? 

(Perhaps mention where you are from when you answer - it might put your response into perspective)

[debra9275]

That's a nasty looking fire Chuk, I just saw it on the news, glad you're far enough away, I was a bit worried.

[newstart2380]

There are many cities like Detroit (to risky with the car industry closing down) Oklahoma city is worth a look but best is to google "houses for sale in USA" or American Property partners, 21st Century US property.

I bought a 2 storey brick, tiloed roof 4 bedroom, 3 bathroom house with inground pool on 1/2 acre block with beautiful lawns in Oklahoma City in a good medium density suburb , schools, good transport etc  for US $89000 18 months ago, rented to a company with a positive return.

It takes time because there are so many properties on the market and you have to make sure you buy in the right area.

[debra9275]

Cars are cheap in the U.S. too, in comparison to here. Do they have lower wages than us? I would rather be able to buy here, where I live

[newstart2380]

Cars are cheap in the U.S. too, in comparison to here. Do they have lower wages than us? I would rather be able to buy here, where I live

Houses purely investment, yes cars are much cheaper and can but a Beema for 1/2 the price or less and looked into it BUT cost to bring it out here and conversion to RH drive makes it really not worth the effort.

[cherry*135]

Cars are cheap in the U.S. too, in comparison to here. Do they have lower wages than us? I would rather be able to buy here, where I live

Yes, the wages are much lower. Hospitality/service workers get around $6 per hour, + tips. They need those tips.

It cost less to buy items than here though. You can still buy things for $1 or less, including food items.

It is bad that a lot of people lost their houses due to the GFC.