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Real Estate
Reply to "Who can afford 800K-1M homes? Genuine Curiosity!"
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[quote=Anonymous][quote=Anonymous]My husband & I make about 250K combined & have 90K saved. In most areas, that would probably get us a nice living situation, but we are stuck in our 1 bedroom downtown b/c we can't afford anything here & don't want a long commute.[/quote] Not in an 800k home but similar income and savings to this poster. The only difference is timing. I had a property that when up 100k and bought a house that even with the downturn has probably gone up 200k from where we bought it. I thank my lucky stars my mom pushed me to get my own property (planted the seed) and my old apartment had roach problems. I was saving something like $500/ month living in an affordable apartment excited to be able to save so much. However, despite never using more than the microwave and the apartment spraying twice a year, there was a bad roach problem. The day I saw one in the bedroom was the day I decided to finally try to buy even if I wouldn't be able to save quite as much. The timing ended up working to my advantage. Very conservative with money so I don't think I would be in the house I am in now, if I didn't have the down payment back in 2003 which would not have happened without the previous property bought in 1999.[/quote]
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