When it comes to purchasing a home, a lot of people tend to say that location is the number one factor that they consider. However, reality says that the real factor to be considered first involves finances. The perfect home is one that helps to combine an amazing location with equally amazing space and cost. These days, however, it can be difficult to find a deal like that, even in locations where the median home price is high.
A recent study has shown, however, that the city of Houston has been rated as one of the most affordable cities in the entire United States in terms of purchasing a home. More specifically, the study showed that in all, a home in Houston measuring 2,093 square feet can typically be purchased for approximately $200,000.
This price is considered to be the median in some of the largest cities throughout the country.
Other cities throughout Texas were included in this study as well. For instance, in Austin, $200,000 can result in you obtaining a home measuring approximately 1,341 square feet, while Dallas can net you 1,824 square feet of home for the same price. In terms of these two cities, however, it all really comes down to personal preference since each one has it’s own charm.
According to the overall data, if you’re looking at purchasing a home this year, you may end up needing to come up with more than just the base median price in order to purchase a spacious home in a high-profile city. At the same time, however, you can come up with a lot less for a more affordable city; however, you’ll end up with a great deal less space.
Thank you for visiting Wayne Murray’s blog, a Houston real estate team. If you are considering moving to the Houston area contact one of our agents today.