If you live in a new house or apartment in the U.S., you could be paying nearly $20,000 more than you would if you bought one in a year’s time.
If you are buying a home that has been remodeled, you could end up paying more than $30,000 a year.
In a recent report by real estate research firm CoreLogic, we estimated the cost of buying a new property in 2018, and the average price for a house that had a new owner.
Using the median of all the prices for the past five years, we were able to estimate how much you could save.
We found that the average new home would cost $1,819, or about $31,500 a year in inflation-adjusted 2018 dollars.
The average home will cost $2,894, or $47,900 a year, if you purchase one that has already been renovated.
But there are also some exceptions to the rule.
You could save a lot more if you live at the intersection of two different neighborhoods.
In this case, you’d pay about $1.2 million more than if you owned a home in a neighborhood where one side was more expensive than the other.
If, however, you own an apartment that has just been renovated, you would save about $400,000 per year.