Personal Finance (Not Investing) • Another "Can I afford this house" thread

It's not as crazy as it sounds. In my MCOL area (SLC, Utah suburbs) $2.5M isn't some crazy mansion, that's a totally normal home in many neighborhoods around me. "MCOL" is a very wide spectrum these days.

Oh, come on. That's not quite true. Housing has certainly gone crazy in Utah and you can certainly find $2.5M homes, but $2.5M is still a VERY nice home in a Utah suburb. Probably 6,000+ square feet, 4 car garage, high end finishes, nice view, close to the canyons etc.

The median listing price in Salt Lake County is $575K. There are $2.5M homes in my very nice neighborhood, but most of them are half that much. And there are plenty of nice 3-4000 sq ft homes in nice places for less than a million.

Yes, but I don't consider those "crazy mansions" and nobody is considering Utah suburbs HCOL. OP has made it clear that this is a really nice home, but isn't out of the ordinary for the nice neighborhood in their MCOL area.

This is A TON of money, but (as incredibly cheap as I am) I don't think it's crazy in OP's situation or in the area they live (even if it isn't SF, Seattle, NYC).

Statistics: Posted by stoptothink — Thu Feb 01, 2024 10:24 am — Replies 41 — Views 3263

---