When It Pays To Move - AARP The Magazine
When Does It Pay To Move
How much money can you make by selling your home and relocating nearby
If you live in a metropolitan area with high housing costs, a short hop can add up to major savings. Here are five examples:
If you live in New York City
where the median home value is: $455,300... and you move: 90 miles away to Allentown, Pennsylvania... where the median home value is: $135,400... you could pocket this difference*: $319,900 If you live in McLean Virginia
where the median home value is: $859,000... and you move: 65 miles away to Winchester, Virginia... where the median home value is: $228,800... you could pocket this difference: $630,200 If you live in Seattle Washington
where the median home value is: $424,600... and you move: 30 miles away to Tacoma, Washington... where the median home value is: $226,300... you could pocket this difference: $198,300 If you live in Highland Park Illinois
where the median home value is: $542,000... and you move: 40 miles away to Woodstock, Illinois... where the median home value is: $205,800... you could pocket this difference: $336,200 If you live in Boulder Colorado
where the median home value is: $410,200... and you move: 15 miles away to Longmont, Colorado... where the median home value is: $251,200... you could pocket this difference: $159,000 Source: Bestplaces.net Notes: *Figures assume home to be sold is owned free and clear and does not include transaction/closing costs. Bousing data is current as of first quarter, 2011. Median home-value data is derived from local and state Realtor and MLS databases, local county deed records, National Association of Realtors and the Federal Housing Finance Agency. Related
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