How Far Does $1,000,000 Take You Buying Real Estate Around the Country

TaraLawson
by TaraLawson
No matter what your income level, stretching a dollar is important, especially when it comes to purchasing real estate. Not only do people purchase property for living, they also purchase it as a smart long-term investment. Yet there are some interesting disparities in properties that cost the same amount. Depending on where you look to purchase real estate, your $1,000,000 might not go as far as you think--or, conversely, it might go further than you ever expected!
In this post, we’ve decided to do a comparison of what $1,000,000 can get you by looking at available properties that are listed in the San Francisco, Nashville and Denver areas. Not surprisingly, there is a large disparity in how much house a seven figure investment can get you as you’ll see below:
Lafayette Park in San Francisco
What does $1 million buy in San Francisco real estate?


In a city like San Francisco, your million dollars isn't going to get you as much in terms of property as other locations in the country. In fact, $1,000,000 will only get you a one bedroom, two bathroom condominium in the upscale Pacific Heights neighborhood. Although you might be able to live near "Lafayette Park and close to Upper Fillmore boutiques and restaurants," (1) you'll have to pay over $800 each month for condo/HOA dues alone and will have less room to spread out in your limited space than if you purchased property in another city. Apparently the lack of a yard is supposed to be offset by the lure of an “enclosed balcony” though.
Nashville home for Sale
What does $1 million buy in Nashville real estate?


In a city like Nashville, however, your $1,000,000 will get you a whole lot more house and acreage than it can in San Francisco. To be precise, you can get yourself a 4,000 square foot home spread out across nearly a full acre with “an oasis like pool perfect for a vacation like getaway, tons of sunlight throughout the house, beautiful hardwoods, and an amazing kitchen.” (3) A four-bedroom single family home in a scenic community is certainly more appealing to many than a condo. Not surprisingly, a million dollars goes much further in Nashville than it will in most large California's cities.
New luxury home for sale at Pradera
What does $1 million buy in Denver real estate?


Denver's real estate market is thriving and many new developments and communities are popping up to keep up with the city's growing job market. A million-dollar home in the prestigious Pradera community boasts 3 bedrooms and 3.5 bathrooms, "stucco and stone finishes, a tile roof, a fully-landscaped home site, and an enclosed front courtyard with fireplace." (3) A landscaped property in immediate proximity to a well-regarded golf course and within easy distance of the city and job centers makes this area an outstanding place to invest in as well as to call home.



If you want more bang for your buck when it comes to real estate, location is a major consideration. Choose to buy property in a city where you can stretch your dollar substantially if your job and personal circumstances will allow you to do so.



Sources:



1. Redfin, https://www.redfin.com/CA/San-Francisco/2200-Sacramento-St-94115/unit-208/home/1418964


2. Trulia, http://www.trulia.com/property/27827112-330-Lynnwood-Blvd-Nashville-TN-37205



3. Celebrity Homes, "Pradera," http://homes.praderacolorado.com/desktop/pradera-available-home-756-4698-Bandera-Place.html
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