Quote:
Originally Posted by Mulva
With the "average house now 7 times the average annual salary" thing, and comparisons to average house to average salary when boomers were buying, I know it all can't be put down to this but you also need to look at the difference between an average house today versus the average house they were buying.
Based on Adelaide (so may not be the same in your states), but the average house being built here in 70s was 3 bedroom at most; much (MUCH!) smaller bedrooms than current with no walk in robes or built in robes; 1 small bathroom (no ensuite); no garage under main roof (not even freestanding carport either); small kitchen with single sink and stand-up oven that was your cooktop/oven/griller all in one (no cooktop with separate wall oven or underbench oven), no dishwasher, much less cupboards/cabinetry (no fridge provision cabinets etc); was not open plan (as someone looking to remove a load-bearing wall that **** adds lots of cost); very little choice of facade (no choice of renders and styles, just choice of brick colour or fibro/weatherboard); single lounge (no living room plus family room etc); maybe a single gas heater in lounge room and an airconditioner where a window would otherwise be (no ducted aircon and central heating, or ducted reverse cycle); and you'd add a verandah at your own cost later rather than than alfresco area under main roof; and just much smaller in size overall compared to the 'average' home now.
Surely that is also some part of the difference.
Edit: GET OFF MY LAWN!!!
|
My Sons townhouse cost him $223k 18 months ago, today my Daughter enquired about building the same design with the same builder 100m away from her Brother, $263k.
$40k price rise for identical builds 18 months apart.