Location’s Impact on Value: What $500K buys elsewhere, and in the Lakes Region

Lake Winnipesaukee, NH - 87 Harglen Lane

Location directly impacts the value of real estate. Here are a few examples of what $500K can buy you in a prime “location, location, location” in today’s market.

By Brent Metzger

Perhaps, like me, you’ve been around long enough to remember when a quarter of a million dollars was a lot of money. Today it takes a lot more than that to buy a McMansion, as even the average American home costs more than $250,000.

According to the National Association of Realtors®, in February 2018 the median price for an existing home in the northeastern United States was $258,900. And the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported that the median sales price for new houses sold in the U.S. last month was $326,800.

Since it costs that much to buy a fairly average home today, I thought it might be interesting to take a look at some current examples of what you could get in our region if you invested a little more, say, in the $500,000 range.

They say the three most important words in real estate are “location, location, location” (unless you sign a purchase and sales agreement without telling your spouse, in which case the three most important words would be, “You did what?!?” But that’s the subject of another article). As you’ll see, location directly impacts the value of each of the following currently-listed half million dollar homes.

Portsmouth, NH–$517,700 today will buy you in late July (when construction is complete) a two bed, one and three quarter bath garden level condominium with 1,512 square feet of livable space on a single level. This condo will offer an open concept kitchen with stainless steel appliances, granite countertops and a huge center island. The living area will be adorned with a corner gas fireplace, and the master bedroom will offer a walk-in closet and an adjoining bathroom with a step in shower.

The listing boasts that “the ‘Seavey’ home is everything you’ve been looking for!” I didn’t know what that meant but the exclamation point implied it was exciting, so I googled the definition. According to the top search result at Urban Dictionary, “Seavey” can be used as a noun, verb and adjective. The adjective form means “super-cool or just plain awesome.” I assume that’s what the listing agent meant, as the verb’s definition would make Stormy Daniels blush and this unit doesn’t even have a chimney.

This property’s development is located in Middle Hill, which, according to the developer’s website, is “only a 1 mile walk or bike ride to the vibrant Portsmouth downtown…” and, I presume, all the specialty salts and pet foods, raw juices and oxygen, cigars, candles, yoga, and psychic readings that a hip urbanite’s heart could desire.

Rye, NH–$525,000 will buy you a one bed, three quarter bath (with radiant floor heat), 600 square foot year-round beach cottage with 0.2 acres, steps away from Wallis Sands Beach.

According to the listing, this 1955 era “property was completely rebuilt in 2016 with finishing touches this year,” and features granite leather finished counter tops, stainless steel appliances, “wood-grain finish on tiled floor throughout,” an outdoor shower with its own hot water tank, and a large patio and yard with privacy fence.

Boston, MA–$539,000 will get you a one bed, one bath, 520 square foot parlor level (a few steps above street level) brownstone condo in the heart of Boston, “just steps to dining and cafes on Tremont and Copley Square.”

Originally built in 1860, “this unit has an open kitchen, hardwood floors, full bathroom and ample sized bedroom.” In addition to the $1,037 per square foot list price, you’d have to pay homeowners association fees of $290 per month ($3,480 per year).

87 Harglen Lane Laconia, NH 03246
87 Harglen Lane on Lake Winnipesaukee in Laconia

Laconia, NH—$524,900 will buy you my latest listing, an adorable four-season one bed, one bath, waterfront cottage on one of the best lots in quiet, private, no-wake Pickerel Cove, which connects you to over forty-five thousand acres of beautiful Paugus Bay and Lake Winnipesaukee water.

Located on a quiet, dead-end street a quarter mile from the community’s shared private sandy beach, this 674 square foot completely updated 1966 era home sits on .61 acres and features a boat slip and 125’ of waterfront, which is literally just steps away.

There are water and Belknap mountain views from the 9’ x 8’ front deck, the large paver patio, the 17’ x 8’ heated lakeside sunroom and the spacious, open concept living room. The adjoining kitchen area is adorned with exotic granite countertops, high end laminate flooring and new cabinets. The bedroom and bathroom are surprisingly roomy and the property includes a storage shed and an external, seasonal multipurpose room that could be used as a bunkhouse for guests or a workshop.

So there you have a few examples of what $500K can buy you in a prime “location, location, location” in today’s market: a “Seavey” new Portsmouth condo or a bit of Boston brownstone within walking distance to shopping, dining and entertainment, a seacoast cottage adjacent to a bustling public beach that you share with throngs of tourists, or your very own personal paradise with interior and exterior views of the Lakes Region’s water and mountains. If you’d like to learn more about the latter please visit www.87HarglenLane.com.

Brent Metzger is a saleBrent Metzger, Realtor at Roche Realty Group in Meredith NHs associate at Roche Realty Group in Meredith, NH.  He can be reached on his cell phone at (603) 229-8322, at the office at (603) 279-7046, or by e-mail: brent@rocherealty.com

Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.


Share on facebook
Share on twitter
Share on google
Share on reddit
Share on pinterest

Lakes Region real estate activity for the first 8 months has been strong

Article by Frank Roche, President of Roche Realty Group.    Real Estate activity for the …

Read More →

Historic Homes: Buy with Your Head as Well as Your Heart

Historic Homes: Buy with Your Head as Well as Your Heart I’d like to recommend …

Read More →
Northeast Storage has purchased a commercial building located at 57 Reservoir Road.

Northeast Storage purchases unique Reservoir Road building in Meredith

MEREDITH — Northeast Storage has purchased a commercial building located at 57 Reservoir Road. Tom …

Read More →
111 Church Street, Laconia

Former Lakes Region mental health building listed and sold by Roche Realty Group

LACONIA — Rick Hagan of Roche Realty Group in Meredith, NH represented the seller, Lakes …

Read More →

Live where others dream of vacationing

https://youtu.be/7G5Z4QRBzzc Weirs Beach is a recreation destination with something for everyone, including beautiful lake and …

Read More →
Gilford, NH landmark former restaurant sold

Former well-known restaurant in Gilford recently sold

Gilford, NH – A local Gilford landmark built in 1975 and operated as a restaurant …

Read More →
Lakes Region NH

Tips for buying a home in the Lakes Region

New Hampshire’s Lakes Region is an amazing place to own a home, whether it’s your …

Read More →
South Down Shores, a gated community on the shore of Lake Winnipesaukee, NH

Kevin Shaw of Roche Realty Group Inc. Produces Over $20 Million in Sales For 1st Half of 2019

Laconia- Frank Roche, President of Roche Realty Group Inc with offices in Meredith and Laconia, …

Read More →

Lakes Region full throttle during Motorcycle Week

You can already feel the area rumbling with visitors and activity this week as the …

Read More →

Is home ownership right for you?

There are advantages to both buying and renting, depending on your current lifestyle and financial …

Read More →

New Hampshire Ranked #2 Best State in the USA for 2019

The good news is out! New Hampshire as a state performed exceptionally well in a …

Read More →

Winnipesaukee Waterfront Sales Activity Spring 2019

The weather is getting warmer, the “Big Lake” is thawing out and the real estate …

Read More →
searching for homes on the internet

The homebuyer’s online search is like online dating

Searching for homes online can be a lot like trying to find love through online …

Read More →

The Importance of Getting Pre-Approved for Your Home Mortgage

If you want to be an attractive buyer in a competitive housing market, you’ll definitely …

Read More →
Lake Winnipesaukee, Moultonborough, NH

Moultonborough homes sold at highest prices, fastest pace ever

It’s a historical time to sell a single-family home in Moultonborough, New Hampshire. Data suggest …

Read More →
For sale by owner sign next to a house

For Sale By Owner? The facts about risk and reward

If you’re trying the “For Sale By Owner” (also known as FSBO/fizbo) approach to selling …

Read More →

What to do if your listing expires

Expired listings are a frustrating reality in real estate. If you want to change the …

Read More →
Meredith, New Hampshire

Window of opportunity open for Meredith home sellers

If you own a single family home in Meredith and have been waiting for a …

Read More →
Gilford, NH

It’s an unrivaled time to sell your single family home in Gilford

If you own a single-family home in Gilford, it’s an unequalled time to sell. It’s …

Read More →

Why it’s a great time to sell your home in Laconia

If you own a single-family home or condominium in Laconia, it might be a great …

Read More →
Own a piece of the playground!

Recess is better when you own a piece of the playground

When I was a kid my favorite part of the school day was recess, that …

Read More →
Hourglass and home

Has your home been on the market for too long?

Once there was a man who loved traveling, but he had been around the world …

Read More →
letting go

Letting go can show more strength than hanging on

One day a philosophy professor walked into her classroom while holding a drinking glass filled …

Read More →
New home first time homebuyers

You Always Remember the First

There’s just something special, nostalgic and memorable about the first, whether it’s a first kiss, …

Read More →

Sell Your Home Like A Boss

Some home sellers act as though their job is finished the moment they engage the …

Read More →
Real Estate Closing issues

Closing Crashers

You know the scene. It’s been in dozens of movies. The bride and groom hold …

Read More →
Roche Realty Group Meredith Office

Roche Realty Group Inc. Reports Sales of $121.6 Million for 2018

Meredith NH – Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith …

Read More →
Kevin Shaw Realtor

Kevin Shaw is Roche Realty Group, Inc.’s Top Producer for 2018

Laconia, NH—Roche Realty Group, Inc. with offices in Meredith and Laconia congratulates Realtor® Kevin Shaw …

Read More →
Sell your home in the winter

How to keep (your home) from getting stuck in a snowbank

Back when I was a teenager and knew everything (or at least far more than …

Read More →
Ribbon Cutting Ceremony at Highland Ridge in Tilton, NH

Ribbon Cutting at Highland Ridge – the Lakes Region’s Newest Community

Tilton – It was a bright sunny day at the ribbon cutting ceremony in Tilton …

Read More →
moving van

Moving in Your Senior Years? Here’s How to Do it Right

Guest post by Harry Cline.  Is there any task more dreaded than moving? While no …

Read More →

Why winter can be a hot time to sell your home

Winter can be a prime season to sell your home because the change of season …

Read More →
Samoset on Lake Winnipesaukee

What We’ve Learned from the “Go-Go 1980’s”

The 1980’s were dynamic and a lot of fun for many real estate professionals in …

Read More →

Consider listing now because what goes up must come down

If you’ve considered selling, it may be a great time to list your Lakes Region …

Read More →
Tower Hill Cottages - (Just Sold). Laconia NH

John Ganong of Roche Realty Group Sells Tower Hill Cottages

Laconia, NH- Tower Hill Cottages located at 220 Endicott Street North in Laconia NH has …

Read More →
The Village Store in Gilford NH

A New Era at the “Village Store” in Gilford!

Have you driven by the Village Store lately? The centerpiece of a small town’s culture …

Read More →

The Bungalow-down

According to the New England Real Estate Network’s multiple listing service (MLS), 50 Lakes Region …

Read More →
Seller painting a house

Sell Your Home by Thinking like a Buyer

A Realtor’s® job is to sell properties for and to clients. But in some cases …

Read More →

Thoughts on acquiring a lake house in the Lakes Region

For many individuals the thought of owning a lake home is a dream. For others …

Read More →
Interest rates rising

Interest rates are rising – but there’s no need for alarm.

Interest rates are rising, but we are still in a low-interest rate environment. Here’s a …

Read More →
Real Estate Challenge? Set Big Goals

Overcoming seemingly impossible real estate challenges

Inspiration from a story about a single mother from Little Rock, Arkansas, on overcoming seemingly …

Read More →
Real estate appraisal

Deferred maintenance can postpone sales

Be honest… is your home in need of some repairs? Because if you ever want …

Read More →
56 Daniel Webster Hwy Meredith

56 Daniel Webster Highway: a great spot for catching attention and customers

A glimpse into the interesting history of the commercial real estate for sale at 56 …

Read More →
playing cards in a seller's real estate market

Buying smart in a seller’s market

Homebuyer beware: it’s a seller’s market in the Lake Region. You’ve got to shop smart …

Read More →
Rocks and Sand

Buying or selling, put first things first

For many of us, a home is the most expensive and valuable asset we will …

Read More →
Post and Beam Home

Post and Beam: A Homeowner’s Dream

Post and Beam 101—Post and beam construction is just what it sounds like: a heavy …

Read More →
accessible housing

House-Hunting Tips for Accessible Housing

House hunting is difficult at the best of times, but trying to find an accessible …

Read More →
Perfect time to buy a home

If you wait for the “perfect” time to buy a home…

I can’t say if right now is the right time for you to buy a …

Read More →

Making Modifications to Add Accessibility

Guest post by Harry Cline. According to an AARP survey, 90 percent of people age …

Read More →
James Poole Poole Pressure Washing

With exterior cleaning, it pays to hire a professional

Spring is finally here in the Lakes Region, and all the home improvement and garden …

Read More →

Leave a Comment