What Can $400,000 Buy You in Winston-Salem's 2023 Real Estate Market?
If you're looking to buy a home in Winston-Salem, North Carolina, understanding what your budget can get you is key. As of May 2023, the real estate market has seen significant appreciation, and a $400,000 budget offers a variety of options, as highlighted by realtor Joel Sandman in a recent video [00:03]. Let's break down some examples of recently sold homes to give you a clearer picture:
Sold for: $425,000 (initially listed at $400,000) [01:07]
Location: Situated in a highly desirable area with mature trees, offering a picturesque setting [00:39].
Features: This home boasts updated interiors, including elegant quartz countertops, modern stainless steel appliances, and classic hardwood floors [00:46].
Size & Outdoor Space: Just over 1,700 square feet with a practical fenced-in backyard [00:55].
Updates: Mechanical systems were updated within the last decade, providing peace of mind [000:00:58].
Appreciation: A testament to the market's growth, this property was purchased for $300,000 just three years prior, showcasing substantial appreciation [01:18].
Age & Size: Built in 1997, making it a newer construction for the Ardmore neighborhood, and spanning just over 1,800 square feet [01:28].
Amenities: Features an attached two-car garage and a fenced-in backyard, all located on a quiet cul-de-sac [01:40].
Condition: While it had an impressive back deck, the interior had fewer updates compared to the Westover listing, with an older kitchen layout and no solid surface countertops [000:01:55].
Bed & Bath: The primary bedroom offered lofted ceilings, his and hers closets, and an updated bathroom [02:15].
Mechanicals: Older mechanicals were present, but a home warranty was included for buyer assurance [02:23].
Development: Located in The Mill at Stone Creek, a development by CG2 Homes [02:57].
Value: This property offers significant value with over 2,600 square feet of living space [03:08].
Lot Size & Utilities: Features larger lots, typically on septic systems but with the convenience of public water [000:03:13].
Features: As a brand new construction, it includes an attached two-car garage and a generous half-acre lot [03:35].
Interior Highlights: Boasts a gas range, gas heating, LVP (Luxury Vinyl Plank) floors on the main level, and a primary suite on the main level with a stylish glass-enclosed tiled shower [03:42].
Convenience: The laundry room is cleverly connected to the master closet for added convenience [03:51].
Additional Rooms: Three additional bedrooms upstairs, plus a versatile bonus room [03:58].
Quality Finishes: High-quality finishes are evident throughout, including plush carpet in bedrooms, tiled showers, and unique granite countertops [04:03].
As these examples demonstrate, a $400,000 budget in Winston-Salem's 2023 market can offer a range of options, from updated homes in established neighborhoods to spacious new constructions. For personalized assistance with your real estate needs in the Winston-Salem area, Joel Sandman is available to help [04:24].
