New York Homes: Buying Big Will Cost You an Arm and a Leg

When I bought my house over 20 years ago, it had been vacant for two years. These days when a home goes on the market, there will immediately be 10 different offers that are well over the asking price.

Get our free mobile app

So, are you in the market for a new home in New York state? Well, you better prepare yourself for some sticker shock. According to a recent study by AgentAdvice, homes in the Empire State are among the most expensive in the country when priced by square footage.

The study took a look at the median listing prices and square footage from homes listed on Realtor in each state to figure out the approximate price per square foot. New York came in at $427.52 per square foot, which is the fourth-highest cost nationwide. WOAH!

This means that if you're looking to buy a new home in New York, you better be read to shell out some serious cash. That doesn't even take into account the other people that will be making offers as well.

Of course, the prices will vary depending on the location and other factors, but it's safe to say that buying a large house in New York will cost you an arm and a leg. So, if you're looking for a more affordable option, you might want to check out some other states on the list.

But if you're dead set on living in the Empire State, just know that you'll need to be prepared to pay a premium for that privilege.