How many houses in California can you buy for $ 500,000?

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Real estate in California is notoriously expensive, and these days hot housing marketprices are skyrocketing and homes are selling out fast. Potential homeowners should carefully calculate their budget to avoid mortgage payments which are too high – and this is important to do before you start looking for a house and fall in love with one that you can not afford.

If you’re looking for a home in California, it can be helpful to get a realistic idea of ​​how much money your budget can bring you. Of course, this can vary depending on which part of the state you plan to settle in.

With that in mind, here’s what you can buy for $ 500,000 in several popular neighborhoods in California.

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For $ 511,000, you can purchase a 944-square-foot two-bedroom, two-bathroom condominium. The condominium is a completely renovated top floor apartment. It has a beautiful kitchen with a tiled backsplash, parquet flooring and a small fireplace.

The condominium also offers access to a communal pool and the community itself is gated for added security. There is even a private garden as well as two private garages for the new owners.

2. Studio in San Francisco.

San Francisco has one of the most expensive real estate properties in the country, so it’s no surprise that $ 500,000 can only buy a one-bedroom apartment in most parts of the city.

The studio cost was actually $ 550,000 despite being just 544 square feet. However, it has stunning views of the San Francisco skyline from the shared rooftop terrace, and is conveniently located on Market Street where the owner can walk to restaurants, shops and local theaters.

The property has dedicated bike parking and the homeowner will have access to a rooftop barbecue area as well as campfire pits. Inside, new household appliances and insulated glass units make the space modern and attractive.

3. Condominium on the ground floor in San Diego.

For $ 519,000, you can buy a ground floor condo in San Diego with private parking in a separate underground space. The 1,033-square-foot area includes two bedrooms and two bathrooms, as well as a floor plan with separate bedrooms.

The condominium was built in 1975 and it is clear that its interior space needs updating by the new owner. This will most likely include renovation of the kitchen and bathroom, as well as new floors in most of the area.

However, owners will love the excellent public amenities, including:

  • Library
  • Billiard room
  • Cinema hall
  • Spacious decks overlooking a small lagoon

V homeowners association (HOA) access charges for these facilities are $ 456 per month.

4. Beautiful single family home in Fresno.

Your home purchase budget may extend further into Fresno. For $ 501,000, you can buy a 2,029 square foot single family home with four bedrooms and three bathrooms. The property was built in 2008 and covers an area of ​​6,840 square feet.

The interior is open plan with a relatively modern kitchen and tiles in all common areas. There is also a fireplace and fitted wardrobes. It will most likely require minimal renovation, although the new homeowner may wish to replace the old carpets in the bedrooms.

As you can see, even in the state of California, location plays a big role in what you get for your money. Make sure you are going to buy a home with realistic expectations and a mortgage payment that is comfortable for you in the long run.

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