Hot deals in the housing market are here. You bet, experts are saying, it's a buyer's market. Reduced prices will make your money go further, and according to real estate expert Barbara Corcoran, "You definitely get an extra bedroom and bath in almost every market." Bankrate researched what $400,000 will buy today by looking at homes currently for sale in 24 cities across the country. Here's a sampling of what kind of home you could purchase with that chunk of change.
| Location | Suburb/Metro | Square Footage | Beds / Baths | Acres |
| Bronx, NY | Borough | 1,000 | 2 bd / 1ba | n/a (condo) |
| Chula Vista, CA | Suburb of San Diego | 1,730 | 3 bd / 2.5 ba | .11 |
| Houston, TX | Suburb of downtown | 2,482 | 3 bd / 2.5 ba | .06 |
| Denver, CO | Suburb of Denver proper | 3,441 | 4 bd / 3.5 ba | .125 |
| McDonough, GA | Suburb of Atlanta | 5,200 | 4 bd / 3.5 ba | 13 |
See what $400,000 will buy in five more places when you read more.
| Location | Suburb / Metro | Square Footage | Beds / Baths | Acres | Conshohocken, PA | Suburb of Philadelphia | 2,000 | 3 bd / 2.5 ba | .07 |
| Branson, MO | Suburb | 2,842 | 4 bd / 2 ba | .25 |
| Aberdeen, SD | Suburb | 3,372 | 4 bd / 3 ba | 1.3 |
| Cabot, AR | Suburb of Little Rock | 5,180 | 5 bd / 4 ba | 5 |
| Seattle, WA | Metro | 2,200 | 4 bd / 2.5 ba | .08 |
3.1 Phillip Lim
Red Herring
Michael Kors
Rather than taking that extra bedroom and bathroom, it seems like it would make much more sense to buy a house just as big as you need and save the extra money.
1that' s probably a good point, but my husband and i were thinking about buying a house and we figured that we could look in the $400k range and know that we could negotiate a bit since people really need to get the houses off their hands. i think that it's nice to have the extra space if you have a use for it, but to have an extra room just to have it is kind of a waste.
2$40k can maybe buy us a garage in SF.
3The inequity. I need to re-locate.
4400K does not go far in the SF Bay area!
5I don't put much stock in this. Almost every area, especially large metro areas, have different surburbs and neighborhoods where the price of house will change DRASTICALLY simply because of the area where you live. I don't know about other places, but I live in Houston, and while living near downtown is generally more expensive, there are some neighborhoods that are a LOT cheaper within that radius. Spreading out across Houston proper, prices drop. I'm in between Houston and Sugar Land, and there's larger 4 bd/3 bath houses around here selling for like $300,000.
6I love living in Houston! But I do agree with Margo. The townhomes and lofts around downtown are overpriced compared to the houses next to them... it's odd. I love in the Bay Area/Clear Lake area and there are huge 4 bdrm/3 baths for about $300,000 also. And it's only 20 min w/out traffic to get to Downtown! Not bad at all.
7Wow, $400K would just about buy a mansion in northeast Wisconsin. Even for $200K you can get a really nice 3-4 BR, 2 bath home with a fairly decent sized lot. I don't get the point of a huge house though. Once you get beyond what you need, the rest just seems sort of excessive.
8Shoot me in the face I hate the Bay Area
9i just bought a 3/2 in the palm springs, CA area for a little over $200K. I don't plan on being here forever but it was a great starter home, considering a few years ago I didn't know if I'd EVER own a home in CA! Guess you just have to decide what's more important, size/price or area!
10There are some pretty great deals on san diego condo rentals these days. For 400K, man, you could get a penthouse!
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