novella
Active Member
Cathy C said:Boy, I don't know. I just moved from the Denver, Colorado area, and prices are UNREAL! What's considered a "bungalow", which is 900 sq.ft. with a partial finished basement (that used to be a coal bunker) on a 10th acre lot sold for $120,000! We were on the fortunate end of the scale, because we bought our little place on the outskirts of a mobile home subdivision for $56,000 back in the 80's and sold for $175,000. I was almost embarrassed to write the contract!
Can UK prices be that much worse??
Cathy
Much worse.
A well-built 2BR bungalow (no basement, tiny lot) in Lincolnshire, 150 miles north of London in a boring agricultural town, goes for about $400,000. An icky 1BR flat in Hounslow, a grotty outer London neighborhood in the shadow of Heathrow, goes for about $275,000. Not modern, no garden.
The scary thing is most English people are up to their eyebrows in mortgage debt. It's considered normal. Considering that pay scales are considerably lower than in the US, it's a very precarious situation. That's why half of England is moving to France now.
BTW, the prices you're amazed at in Denver are nothing at all compared to the Hudson Valley. You couldn't find anything at all around here for less than $200K and the average is more like $500K. But my English relatives think we've got it easy.