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When Does It Pay To Move?

How much money can you make by selling your home and relocating nearby?

If you live in a metropolitan area with high housing costs, a short hop can add up to major savings. Here are five examples:

If you live in : New York City...

where the median home value is: $455,300...

and you move: 90 miles away to Allentown, Pennsylvania...

where the median home value is: $135,400...

you could pocket this difference*: $319,900


If you live in : McLean, Virginia...

where the median home value is: $859,000...

and you move: 65 miles away to Winchester, Virginia...

where the median home value is: $228,800...

you could pocket this difference: $630,200


If you live in : Seattle, Washington...

where the median home value is: $424,600...

and you move: 30 miles away to Tacoma, Washington...

where the median home value is: $226,300...

you could pocket this difference: $198,300


If you live in : Highland Park, Illinois...

where the median home value is: $542,000...

and you move: 40 miles away to Woodstock, Illinois...

where the median home value is: $205,800...

you could pocket this difference: $336,200


If you live in : Boulder, Colorado...

where the median home value is: $410,200...

and you move: 15 miles away to Longmont, Colorado...

where the median home value is: $251,200...

you could pocket this difference: $159,000


Source: Bestplaces.net

Notes: *Figures assume home to be sold is owned free and clear and does not include transaction/closing costs. Bousing data is current as of first quarter, 2011. Median home-value data is derived from local and state Realtor and MLS databases, local county deed records, National Association of Realtors and the Federal Housing Finance Agency.

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