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#11
10-12-2005, 08:13 PM
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Re: How much would this property cost in various parts of the U.S
[ QUOTE ]
[ QUOTE ] 700K for that near Stanford, close to that near Bezerkley [/ QUOTE ] [censored] [/ QUOTE ] As a grad student, you're going to have trouble buying in Boston too. No idea about Chicago. From what I understand, the California housing market's currently bad enough that renting is more cost-effective than buying. 
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#12
10-12-2005, 08:25 PM
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Re: How much would this property cost in various parts of the U.S
In Chicago, you could probably find something for just under $300K, minimum.
You will definitely want to be within walking distance of campus, regardless of where you go (U of C, Depaul, Northwestern). The price will vary greatly depending on what neighborhood you live in (two blocks in the wrong direction can make a huge difference) or what amenities you want.
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#13
10-12-2005, 08:26 PM
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Re: How much would this property cost in various parts of the U.S
Anyone willing to chime in with some East Coast estimates?
Seems West Coast is out of my range to the meanwhile.
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#14
10-12-2005, 08:31 PM
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Re: How much would this property cost in various parts of the U.S
although you've apparently ruled out the west coast... the 1 bedroom + den/2nd bedroom 1300 square foot condo i bought in emeryville (near berkeley) last year went for ~600k.
Cal is a great school though. i may be in love with one of the volleyball players there.
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#15
10-12-2005, 08:35 PM
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Re: How much would this property cost in various parts of the U.S
Why would you change your choices because of how expensive the house is? The PhD is the thing here, and it is a HUGE renter's market in California.
I think it would be a much better idea to rent a house that is similar to the specs you listed for around $2k month. Then, when you see the market flattening out or going through a slight correction(doubtful there is a bubble) and the people with "interest-only" loans not being able to afford their balloon payments in 2-3 yrs, you swoop in. From reading your posts, I am in the same situation as you, in terms of liquid capital, except I have a job, albeit as a freelance consultant(not steady) but am thinking of going back to school. I think buying property at this time would be insane. All signs point to the market being as high as it can go. The question now is whether it will level off or drop. DN
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#16
10-12-2005, 08:37 PM
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Re: How much would this property cost in various parts of the U.S
BTW if I reduce the flat to 1 bedroom so I have:
Big living room. Kitchen. Bedroom with adjoining bathroom. What % less will it typically cost that the property mentioned in my opening post? I would be looking for something liveable, a place I would be happy to move a girl into, not some grubby student place. Thanks, Dean
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#17
10-12-2005, 08:44 PM
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Re: How much would this property cost in various parts of the U.S
I'm not from Boston but a friend of mine went to MIT for his Ph.D. and housing there is [censored] expensive.
The (San Francisco) Bay area is maybe the most expensive place to buy a house in the US. That may not be right, but it is the first place most people would think of if you were you to ask them where the most expensive place to buy a house is. Chicago is probably expensive too, though not as bad as any of the others I believe. Are we talking about the University of Chicago? That's supposedly in a pretty bad neighborhood. Again, never been there but that's what people say. If looking to buy a house you may want to look further out. I would reccomend checking out a real estate website. Try www.century21.com.
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#18
10-12-2005, 08:44 PM
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Re: How much would this property cost in various parts of the U.S
one consideration, you may want to add Univeristy of Texas. a PhD from UT carries significant clout and the cost of living is MUCH cheaper here. and the life in austin wonderful.
dont know if youre already locked into your elite 5 selection or not. but if you want to expand UT is a good pick. disclamer: im a UT grad and i live in austin. EDIT: you could rent a house for $1100 or buy for $130,000 if you were patient and got a steal. bwana
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#19
10-12-2005, 08:54 PM
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Re: How much would this property cost in various parts of the U.S
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#20
10-12-2005, 08:56 PM
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Re: How much would this property cost in various parts of the U.S
What are you doing your PhD in?
Two words of advice regarding Bay Area living: The quality of places in the east bay tends to vary quite a bit, even if you are just looking in better parts of Berkeley and North Oakland. There are some serious dumps on the market that are advertised as fixer-uppers. Stay away unless you want to spend your first couple years of graduate school orchestrating a ridiculous renovation project. Second, if you are used to living in London and you buy in Palo Alto or Berkeley, it will not take you long to wonder why you didn't buy in San Francisco. Palo Alto is a terrible place. Berkeley is better, but is still not for some people who are used to a more urban environment.
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