Getting the most for your money

Looking for your dream home?

Not all budgets or housing markets were created equal.

Crossing city limits and county lines can mean a significant difference in what you'll get for your money, whether you're buying or selling, says Kerry Johnson, president of the Cape Girardeau Board of Realtors and a realtor with Mossy Oaks Properties of the Ozarks.

Buyers on a tight budget can typically get more bang for their buck outside Cape Girardeau city limits in the way of an extra bedroom or bathroom and additional acreage for the same price of a home in town.

But there's a corresponding disparity in property value growth, says Johnson.

Homes inside the city limits typically increase in value faster than those in Cape Girardeau County or surrounding rural areas.

Here's a simulation of what you can get for your money in Cape Girardeau City, Cape Girardeau County, Scott City and Perryville, Mo., based on 2004 data from the Multiple Listing Service, Inc.

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Budget: $60,000

CAPE GIRARDEAU

Buyers can typically expect to find a two of three bedroom home with one and a half bathrooms for $60,000 inside the city limits. These homes typically have around 900 square feet of living space and fairly small yards. Property taxes on these homes averaged $516 per year.

CAPE GIRARDEAU COUNTY

A three bedroom, two bath home on about 1 acre of land can be purchased for $60,000 in Cape Girardeau County. These properties may feature modular homes or older houses, but will typically have over 1,500 square feet of living space. Property taxes on such homes averaged $368 per year.

SCOTT CITY

In Scott City, buyers may find a three bedroom, one bath home for around $60,000. In 2004, homes with more than 1,000 square feet of living space sitting on multiple lots sold in this price range. Complete tax data on these properties was not available, however one such home that sold in 2004 averaged $250 per year in property taxes in Scott City.

PERRYVILLE

In Perryville, homes with three or four bedrooms and 1 1/2 baths on large lots could be purchased for under $60,000. These homes typically have between 1,100 and 1,300 square feet of living space with finished basements and a garage. Property taxes on these homes averaged $402 per year.

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Budget: $100,000

CAPE GIRARDEAU

A three- or four-bedroom older home with two baths could be purchased within the city limits for $100,000 in 2004. Many of these homes included garages or finished walk-out basements. Fenced-in yards were a bonus on some homes between $99,000 and $102,000 and most in that price range offered between 1,300 and 1,500 square feet of living space. Annual property taxes averaged $967.

CAPE GIRARDEAU COUNTY

A four bedroom, two bath home on multiple acres is an example of a typical home sold for about $100,000 in Cape Girardeau County.

These homes usually offer a garage or other covered parking, Modular homes in this price range may include 10 or more acres of land. Property taxes averaged $559.

SCOTT CITY

Three bedrooms and two or three bathrooms is what $100,000 may purchase in Scott City. These homes likely have around 1,300 square feet of living space and are located on large lots. Most of these homes are between 20 and 30 years old but have updated heating and air-conditioning systems. Property taxes average $542.

PERRYVILLE

In Perryville, $100,000 could buy you a 6-year-old, 950-square-foot home with three bedrooms and 1 1/2 baths or a 50-year- old home with three bedrooms, two baths and 1,350 square feet of living space. A garage and additional off-street parking are generally available with this type of property. Taxes average $680 per year.

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Budget: $175,000

CAPE GIRARDEAU

In the city limits, $175,000 can buy a three-bedroom, two-bath home with a two-car garage on an acre of land. These homes may be found in new subdivisions or established neighborhoods and usually have between 1,800 and 2,000 square feet of living space. Taxes average $1,700 per year.

CAPE GIRARDEAU COUNTY

Outside the city, a buyer with this budget may find a three bedroom, two bath home with a two-car garage on two or three acres of land. New construction on average-sized lots can also be found in this price range. These homes typically have more than 1,500 square feet of living space. Property taxes are around $800 a year.

SCOTT CITY

Between three and four bedrooms with two baths can be bought in Scott City for $175,000 These homes may be less than two years old and include garages. An additional $10,000 can land five bedrooms and three baths on three acres. Property tax information was not available for these homes.

PERRYVILLE

Four bedrooms and three baths with between 1,500 and 2,000 square feet of space can be purchased for this amount in Perryville. These properties may offer one acre or more of land. Taxes average $1,177 per year.