Author: superpeasant

how many years can we own a house by our small salary? [Copy link] 中文

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Post time 2008-6-24 09:48:04 |Display all floors
Originally posted by tradervic at 2008-6-24 09:03
Comes down to location and transportation.

Big city centers, like Shanghai and New York City are simply too pricey to find a home....


Some of us have even moved several thousand miles to find affordable housing. :)

But yes, commuting is often the answer.  

Or even move to somewhere that the salaries buy more affordable housing.
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Post time 2008-6-24 09:58:35 |Display all floors
Originally posted by allenmiao at 2008-6-24 09:39



at suburb of shanghai, the housing price has reached at 8k per sq.m., but the avarage salary in shanghai only is approximately 2.5~3k for sure,   MY GOD! impossible to afford one house, ...


We looked at a ground floor apartment last week in Chengdu's suberbs that was priced at 8.4 per sq meter. We couldn't justify spending that amount of money but this was the last one left. Some people are obviously rich. I hate to think what it is nearer the centre of the city.

One trick is to buy second hand. Because, as we discovered, all the work that you do on an empty apartment like lighting, heating, aircon, floors etc is depreciated by at least 50% when you come to sell. So if you can find a second hand property that has an attractive interior, you could save yourself a few hundred thousand RMB.
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Post time 2008-6-24 17:27:29 |Display all floors

Reply #8 pegasus01's post

Life is getting harder and harder. In Canada, although government raised minimum wage, however people get paid less and less because of competition in job market. Because of global inflation, especially in food, fuel, and house, more and more people will be excluded real estate market. This is trend. If you have money to buy a house now, just do it. So you are lucky to have money to buy a house.

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Post time 2008-6-24 17:54:29 |Display all floors

Funny

I need 20 years, provide that I can get the same salary as this month for a 100 Meter house.
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Post time 2008-6-25 08:51:22 |Display all floors
Originally posted by fatdragon at 2008-6-23 17:09


That sounds very good to me. Typical repayment terms in the UK are 25 to 30 years.

I've just done a calculation and concluded that you have too much money.

Borrow 500000 RMB over 20 years ...
100 square meters is tiny though, a fraction the size of even a small home in the west.

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Post time 2008-6-25 09:13:37 |Display all floors
Originally posted by kuznetsov at 2008-6-25 08:51 AM

100 square meters is tiny though, a fraction the size of even a small home in the west.

You are right, in my hometown, we built a three-floor storied building, each floor is 110 S.M. but at the cost lower than 100,000.
But, it is the poor area.
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Post time 2008-6-25 10:09:49 |Display all floors
Originally posted by susansusan at 2008-6-25 09:13

You are right, in my hometown, we built a three-floor storied building, each floor is 110 S.M. but at the cost lower than 100,000.
But, it is the poor area.
100,000 dollars or yuan? sorry,maybe its a stupid question, im not familliar with china prices.  also,is land space limited where that home was built? i couldnt imagine building 3 stories with just 110sm/fl. i would think you'd build more floor space and less floors...i hope i dont sound dumb, im not familliar with house in china..

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