Here's the typical home price in every state — and what you can actually get for that money

[TexasJohn]

They have Islamic loans here. I work with somebody who got one.

How exactly does that work? Real curious.
Also, I need to add older houses have much larger plots of land around the house. Newer houses are on smaller plots of land and cost way more. My house is an older one 3-2-2 and sits on almost 1/3 acre of land. My nephew built a new house - same size and the back yard is tiny - maybe 25 ft deep

 

[Hamartia Antidote]

How exactly does that work? Real curious.

He explained it to me and it seemed more like dancing around a technicality than something completely different. Seems the bank buys the property at $X and then leases it back to you at ($X+$Y)/25years. Which technically is what a regular mortgage is.

See if this sounds any different than a regular mortgage.
https://www.moneysupermarket.com/mortgages/islamic-mortgage/

Also, I need to add older houses have much larger plots of land around the house. Newer houses are on smaller plots of land and cost way more. My house is an older one 3-2-2 and sits on almost 1/3 acre of land. My nephew built a new house - same size and the back yard is tiny - maybe 25 ft deep

Well property sizes around here are a jumble. I think the majority was plotted out over 100 years ago. Some people simply bought two or three plots and dropped a house in the middle. For the recently developed unplotted areas even people with an acre of land usually are restricted from touching more than half of it (ie no cutting down the trees). BTW This causes some interesting wildlife to make its way all the way to the city limits of Boston (bears, mountain lions, fisher cats, coyotes.

I'm sure the definition of old is much different in Texas. I grew up in a >7500sq ft 1880's house so you aren't going to hear me yearning for an old house. You could throw $200K in upgrades at it and not see a difference.

 

[Awi]

How exactly does that work? Real curious.
Also, I need to add older houses have much larger plots of land around the house. Newer houses are on smaller plots of land and cost way more. My house is an older one 3-2-2 and sits on almost 1/3 acre of land. My nephew built a new house - same size and the back yard is tiny - maybe 25 ft deep

It's a big lie, I got my loan from Ijara Loans. At the last moment before closing, they started pulling different tricks on me and I was regretting my decision of buying a house, but I was way too much invested in it. They will always have a little higher interest rate that they actually don't call interest due to having another definition for it. They bumped my rate at the last moment and after 1 month of purchasing the house they sold my loan to Well Fargo. So there is that. I got a much better rate by refinancing and getting a much better rate afterwards.

 

[Hamartia Antidote]

after 1 month of purchasing the house they sold my loan to Well Fargo.

Yeah I thought this seemed like a smokescreen just covering a typical mortgage.

 

[Sheikh Rauf]

I don't agree with this at all. I lived for the most part of my life in NYC and Long island. Right now i live in Nassau County Long island. I will say good luck getting a 4 bed and 2.5 bath here for 321,000. You are looking somewhere between 600,000-700,000 in good neighborhoods of Nassau and Suffolk country and if you want excellent neighborhood then its 800,000 and up. West Chester County just forget it property tax is a killer there.
The Houses in Long Island and West Chester country are expensive, but the real pain is the annual property taxes. having a Decent house in Nassau country Long Island you are looking at about 14000-16000 property taxes a year, now add mortgage to this with interest and maintenance well you are looking at big numbers.
Now the picture up there says house in Rochester NY. Well that's upstate NY and has nothing to do with Real NY which is New York City and the counties around it . In upstate NY you can get a beautiful house for 250,000. Buts its 6 Hours away from NYC. So do you really want to spend 250,000 there?

I think he is trying to tell us 2001's prices.

 

[Awi]

Yeah I thought this seemed like a smokescreen just covering a typical mortgage.

I think they are way worst than a typical mortgage, they charge more by giving different explanations and non stop Salams and Alhamdulillahs and what not. Interest means to make a loan a trap for the lender and that's what they do exactly. They cheat on Islamic rulings, they betray Muslims, and at some level they bully by keeping/displaying a very Islamic behavior to make others feel like they know better.

 

[TruthSeeker]

Now the picture up there says house in Rochester NY. Well that's upstate NY and has nothing to do with Real NY which is New York City and the counties around it . In upstate NY you can get a beautiful house for 250,000. Buts its 6 Hours away from NYC. So do you really want to spend 250,000 there?

Yes, of course! I lived in the Rochester area for 25 years. I am a PhD physicist and had a very well paying job in R&D at a Fortune 100 USA company. I had a very nice house that I bought for $140,000. For a super big city weekend we would drive (~ 3 hours) around Lake Ontario to Toronto. Who needs NY City!! It's a downstate swamp of liberalism drowning in its own excesses.

 

[Hamartia Antidote]

Yes, of course! I lived in the Rochester area for 25 years. I am a PhD physicist and had a very well paying job in R&D at a Fortune 100 USA company. I had a very nice house that I bought for $140,000. For a super big city weekend we would drive (~ 3 hours) around Lake Ontario to Toronto. Who needs NY City!! It's a downstate swamp of liberalism drowning in its own excesses.

The article clearly says this is the median home price across the ENTIRE state. Not sure why people think this means a nice town within 10 miles of the NYC line. I have a an accountant friend who moved to the Rochester area and bought a huge property. They and their kids race snowmobiles around it.

It says Massachusetts is $442,000. You aren't even going to get a garage in a really nice town near Boston for that. Anything nice is > $1M.

 

[TexasJohn]

He explained it to me and it seemed more like dancing around a technicality than something completely different. Seems the bank buys the property at $X and then leases it back to you at ($X+$Y)/25years. Which technically is what a regular mortgage is.

See if this sounds any different than a regular mortgage.
https://www.moneysupermarket.com/mortgages/islamic-mortgage/




Well property sizes around here are a jumble. I think the majority was plotted out over 100 years ago. Some people simply bought two or three plots and dropped a house in the middle. For the recently developed unplotted areas even people with an acre of land usually are restricted from touching more than half of it (ie no cutting down the trees). BTW This causes some interesting wildlife to make its way all the way to the city limits of Boston (bears, mountain lions, fisher cats, coyotes.

I'm sure the definition of old is much different in Texas. I grew up in a >7500sq ft 1880's house so you aren't going to hear me yearning for an old house. You could throw $200K in upgrades at it and not see a difference.

Mine was built in 1969 so not that old I suppose. A house from 1880 would be cool, but also a cool money pit, like you said

 

[Hamartia Antidote]

Mine was built in 1969 so not that old I suppose. A house from 1880 would be cool, but also a cool money pit, like you said

Still has pipes in the walls for gas lights.

Plus the closets of the day. So shallow you can't fit a standard hanger in sideways.

 

[mkg00179504]

Yes, of course! I lived in the Rochester area for 25 years. I am a PhD physicist and had a very well paying job in R&D at a Fortune 100 USA company. I had a very nice house that I bought for $140,000. For a super big city weekend we would drive (~ 3 hours) around Lake Ontario to Toronto. Who needs NY City!! It's a downstate swamp of liberalism drowning in its own excesses.

why would someone spend that much money to live in Rochester NY. If you have to drive about 3 hours to a big city and 3 hours back then good luck with that. In that case you can live in Idaho with big house and potatoes.

 

[TexasJohn]

Still has pipes in the walls for gas lights.

Plus the closets of the day. So shallow you can't fit a standard hanger in sideways.

Gas lights!! The house I lived in before this had one in the front yard. It was cool, once you got the sock lit. During the day you could not tell it was on, at night it lit up the entire yard. Loved it. Also learned to never touch the sock if you had it lit before. Goes to ash with one touch!!

 

[TruthSeeker]

why would someone spend that much money to live in Rochester NY. If you have to drive about 3 hours to a big city and 3 hours back then good luck with that. In that case you can live in Idaho with big house and potatoes.

You, sir, by your words, define yourself as a consummate snob (derived from the term sub-noble).

 

[Hamartia Antidote]

Gas lights!! The house I lived in before this had one in the front yard. It was cool, once you got the sock lit. During the day you could not tell it was on, at night it lit up the entire yard. Loved it. Also learned to never touch the sock if you had it lit before. Goes to ash with one touch!!

Up until I was about 9 we had a large 1940's era gas refrigerator with a laughably small freezer area about the size of a small toaster oven. It would cake up with ice and we would use a sharp pick to chop things away. It was a fire hazard as you could see an exposed blue flame if you peered behind it.

The previous owners of the home used to be wealthy and actually installed forced air ductwork in the 1930's and a gas furnace...while everybody else on the street had mostly hot water radiators. My dad then added an AC unit and we became one of the first houses around with no ugly AC units sticking out the windows.

So the house I live in now is gas water heater, furnace, dryer, oven/cooktop, and fireplace.

 

[TexasJohn]

Up until I was about 9 we had a large 1940's era gas refrigerator with a laughably small freezer area about the size of a small toaster oven. It would cake up with ice and we would use a sharp pick to chop things away. It was a fire hazard as you could see an exposed blue flame if you peered behind it.

The previous owners of the home used to be wealthy and actually installed forced air ductwork in the 1930's and a gas furnace...while everybody else on the street had mostly hot water radiators. My dad then added an AC unit and we became one of the first houses around with no ugly AC units sticking out the windows.

So the house I live in now is gas water heater, furnace, dryer, oven/cooktop, and fireplace.

A dentist friend of mine visited from Canada and was in awe of the central A/C unit! I guess out there all they have is window units! He apparently installed one in his house a year later!