How do you tell the difference between a $200,000 house and a $50,000 one?

How do I tell the differences between a house worth $200k and $50k?

It’s a question we’ve been asking ourselves, and we’re still not quite sure how to answer. 

As a result, the house-hunting site Zillow is adding a new calculator that lets you check the value of your next-door neighbour’s home. 

It’s an important step towards solving the problem of affordability, as home prices continue to rise.

Zillower estimates that a home worth $250,000 could fetch as much as $400,000 over the next decade.

It’s an even more expensive problem than we’re used to, but one that Zillowers believes could be tackled in a few years time.

“When you look at where prices are in Australia, there are many properties that are worth far more than $250k, and yet we’re in the middle of a housing affordability crisis,” said Zillows co-founder and CEO Peter Kavanagh.

“I’m confident that within five years or so we’ll be able to provide some simple tools to tell the story of affordability in Australia.”

For example, if you’re buying a home in Melbourne and you see a property on the ZillOW website for $250K, there’s a good chance that it’s not going to be as affordable as you thought it was.

“Zillow’s new calculator is based on the data that shows home prices have risen across the country.

This means it looks at the average price of a single-family home and the median price for the last three years.

It also includes other factors such as the percentage of the value that is being paid to the builder, the amount of debt that’s taken on and the number of bedrooms.”

The Zillowl calculator is a new product that Zellows co, CEO Peter Cavanagh, says will allow consumers to make informed financial decisions about whether a home is affordable. “

As we continue to build the Zellow home market, we’re also working to ensure that our customers are aware of the importance of housing affordability.”

The Zillowl calculator is a new product that Zellows co, CEO Peter Cavanagh, says will allow consumers to make informed financial decisions about whether a home is affordable. 

“The Zellowed calculator is an opportunity to tell stories to people about how a home compares to other properties in the same location,” he said.

Zellow says the new tool will allow the community to make a “more informed decision” about where a property is located.

What do you think?

Do you think affordability will improve in the next five years? 

Have you got a new home on the market?

Do Zellowl’s calculations give you an idea of what you might be paying?

Tell us in the comments section below.

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