If you have ever had questions on the size and quality of housing, you can afford. The answer to whatever questions you have ever had depends heavily on where you wish to buy a Dream House.
This is so because, the price of housing in the United States varies greatly from one city to another, such that the price for a Dream House in one area might only afford a broomstick cupboard in another.
The average cost of housing in America right now stands at $370,000, therefore $500,000 should conveniently give you a fairly average size house with some left.
The downside of this, however, is that, what passes as average in the Northeast, is not average in the South. For instance, the average cost per square foot for housing in Northeastern America stands at about $149.25, while the price in the Southern part goes for around $87.80, almost forty percent less.
Looking at the statistics in large parts of the country can be really shocking, with some outrageous numbers when you compare rural and urban areas. Typically rural homeowners spend $5000 less on their house annually when compared to their city counterparts in the urban areas. This amount reaches half a million dollars over a ten-year span, well enough to sponsor a college education.
What is more, this difference in prices does not only depend on whether you live in the city or countryside. The state you live in is also a huge determinant of price. For example, you can get 5,952 square feet of land for $500,000 in Cleveland, while that price can only afford you 986 square feet in San Francisco.
Taking these two cities, it means that price per square feet of land in Cleveland is $84, with that of San Francisco at $507, showing a great variation in price, with a difference of 4,996 square feet. This means you will be getting in San Francisco the same home, at the same price you will get an average home in Cleveland.