$500,000 in Seattle VS. Tacoma
In a recent editorial feature, Seattle Refined decided to take a look at what $500K can get homebuyers if they’re looking in two popular Puget Sound cities: Seattle and Tacoma. As in-city prices continue to grow, many buyers are looking at more affordable options outside of the city limits, so they asked Realogics Sotheby’s International Realty (RSIR) broker Austin Schneider to “work his magic” and help them find homes to tour in both areas. Schneider put together a list of six properties in the $500K range and shared his market insights as they stepped into the residences.
Schneider tells Seattle Refined, the Seattle market is so hot because of the area’s population growth, strong economy and lack of homes for sale. But, he emphasizes that “buying in Seattle IS NOT impossible.” Given that the rental price of a one-bedroom apartment in the city is now $2,048, Schneider notes that “buying is something to consider with our continued projected growth, if you’re looking to grow your wealth.”
After a day of touring, the article says the “moral of the story” is not to be too discouraged if you are looking to purchase. Instead, it’s just important to “understand and consider the differences between location vs. standard of living in deciding what the best option is for you and your future investment,” whether it’s something newer and larger in Tacoma, or a smaller in-city residence.