would your home cost more or less now than when you bought it?

[tvguy]

MUCH MUCH more here in Los Angeles

Although things are cooling off in LA. My son and daughter-in-law have had their house two years and the value has gone up less than 1% in that time.

 

[lucas]

A whole lot more.

 

[#1hoosierfan]

Bought our house 11 years ago. It would sell for twice as much today.

 

[SandyinMonterey]

Much more.

 

[Moliphino]

Quite a bit more. We bought at the end of 2019 before prices went crazy.

 

[kdonnel]

At the moment, more.

But there was a long period were the answer was much less.

We bought in 2005, just prior to the last housing crash for $380,000.

There were several years around 2009 where homes in the neighborhood were selling around $200,000.

At the moment homes are selling at right around what equates to a 3% annual growth over the past 19 years.

 

[NYCgrrl]

Currently renting my home ( mother’s estate STILL isn’t settled and I’m a tad peeved at that hardheaded coconut woman for pooh poohing her daughters’ advice. Pfft) but I own other R/E property that has risen in price over the years. Diff types of properties and locales but the average increase is 32%.

 

[bakerworld]

We've lived here 30+ years so obviously more. If I was any good at math, it would be interesting to see if time/cost would be a leveling measure. Does a 17% interest rate on a 36K house equal a 4% interest rate on $315K house?

The couple up the street rented for 5 years to save for a house. They purchased a house up the street that hadn't been upgraded since the 70's, nor maintained in the last few years. They paid $450K for a house that needed rewiring, re-plumbing, the sewer pipe joint at the street replaced, and the HVAC replaced. They 'skimped' on the kitchen by painting cabinets and replacing the backsplash and flooring on their own. They're replacing windows 'as needed' (the original windows are metal single pane). Now they need a new roof. They had a baby in the summer because she felt her age was an issue (no idea of her age). Just crazy.

 

[ronandannette]

At the moment, more.

But there was a long period were the answer was much less.

We bought in 2005, just prior to the last housing crash for $380,000.

There were several years around 2009 where homes in the neighborhood were selling around $200,000.

At the moment homes are selling at right around what equates to a 3% annual growth over the past 19 years.

Our last home was similar; bought at the top of the peak in 2014 and couldn’t have paid more if we tried. Prices started to “normalize” almost instantly and it took a good 7 years for them to rebound. We did end up making good money when we sold last fall, but of course the new place we bought was in the same market (high), which is also now cooling a little. We’re settled here for some time - we shall see what happens.

 

[China Expat]

Although things are cooling off in LA. My son and daughter-in-law have had their house two years and the value has gone up less than 1% in that time.

It all depends where the house is!

 

[tvguy]

It all depends where the house is!

Northridge. He keeps getting calls from people wanting to buy it, so there is interest, just not the price appreciation I would expect.

 

[Kathryn Merteuil]

It would cost more.

 

[sheilafri]

Ours is worth more even with substantial additional renovations. All three of my children have purchased within the last few years. I think they would be stretched to cover realtor fees if they had to sell. So, the realtors would make money, I don’t think my kids would.

 

[GroguAndStitch]

doubled in 8 years

 

[disneyseniors]

more

More than double what we paid for it!

 

[grapefruitjellybean]

The house 3 doors down sold for $900k more than what they paid to in 2016. Our condo is probably worth double now.

 

[5kidsmommy]

We bought in 2009 when the market was crashing, it was a short sale. We got a screaming good deal. A house four doors down which is smaller than ours with one less bathroom and two less bedrooms just sold for over 4 times the price we paid for our house. So more, much more.

 

[disneychrista]

My house is worth about double what I paid for it.

 

[barkley]

We bought in 2009 when the market was crashing, it was a short sale. We got a screaming good deal. A house four doors down which is smaller than ours with one less bathroom and two less bedrooms just sold for over 4 times the price we paid for our house. So more, much more.

that's awsome! whoever owns our former home is in a similar situation-we sold at the top of the market in '06 and they got it after our buyer and a subsequent owner lost it to repo, the new owners only paid 15% of what we sold for they could sell now for over 8x what they paid.