Price Range? Rule of thumb in general, RE is moving closer to areas that are more urbanized. Oil and gas and convenience and time saving are driving this. So in town, close to transportation and of course beach areas are prime. I am speaking generally since i do not know your needs. Avoid major highways in your backyard as well as railroad lines. In this market for resale, and history confirms this, plan on holding the property, again in general if for presonal use, 8-10 years. We need to go back to basics in RE. You purchase a home for what is best for family or as an individual, a lifestyle.
Equity builds as you pay down your mortgage. It's like a savings account. Market increase, when healthy, is 2.5 to 3% a year. 5% would be incredible, but that could take years before we see that. This is a whole new "Brave World" in RE. There isn't an economist, pundit or banker who is making any bets in the future.
I would be more than happy to discuss this further. No obligations. Whatever you choose, make sure you use Listingbook.com as a search site. It's the only site that is in real time with our MLS.
Hope this helps.
CT LIC. Realtor